Metro Star property project resolves legal bottlenecks, picks distributors

By Tri Duc
Fri, September 22, 2023 | 4:52 pm GMT+7

Metro Star Investment Company Ltd. is preparing to pick secondary distributors for a major property project after HCMC authorities helped resolve some legal procedural bottlenecks.

The company, a subsidiary of realty developer CT Group, said it was utilizing the option of secondary distributors because recent financial turmoils in the real estate market had negatively impacted some agents and made it difficult to tap their capabilities.

It said that the Metro Star project’s sales team was eagerly waiting to see the next distributors for the project. "Though the market has been dormant for a while, demand for good products is always high."

An illustration of Metro Star project in Thu Duc city, Ho Chi Minh City, southern Vietnam. Photo courtesy of CT Group.

An illustration of Metro Star project in Thu Duc city, Ho Chi Minh City, southern Vietnam. Photo courtesy of CT Group.

As a result, the race for agents to become secondary distributors of the project is competitive. After several years of struggling due to the Covid-19 pandemic and related economic challenges, there was now growing hope among dedicated sales staff, the company said in a release.

It noted that there were very few projects in Ho Chi Minh City that had completed legal requirements and met conditions for sales, resulting in limited market supply.

This shortage of products had resulted in challenges for many businesses and sales teams. With a lack of inventory to sell, work became scarce and some people had to leave the profession.

In this context, official clearance of the legal status of the Metro Star project has become a “hot topic,” allowing the company to prepare for its sales launch in October 2023

This news is a ray of hope for agencies, distribution platforms and market sales teams. Dozens of agencies have swiftly submitted their applications to become official distributors for the project.

In addition to its complete legal status, the Metro Star project boasts several significant advantages. It is ideally located in a prime spot right on the frontage of Vo Nguyen Giap boulevard, one of the most beautiful boulevards in Thu Duc city.

The project also has a pedestrian bridge directly connecting to the Binh Thai metro station of the soon-to-be-completed Metro Line No.1.

Furthermore, the project's building design incorporates the green architectural essence of Singapore, earning it the "Best Mixed-Use Architecture Design Vietnam 2022" award for having the most beautiful architectural design among mixed-use projects in Vietnam that year.

Another noteworthy factor is that Metro Star Company has 18 years of professional experience in developing apartments and shophouses. Currently, the company is dedicatedly preparing for the development of dozens of other projects along the six HCMC metro lines over the next 10 years.

This, in turn, not only presents a golden opportunity for sales teams, but also for customers who are the company’s strategic partners under a strategic cooperation plan to multiply capital over the next 10 years.

Agents are even more eager to be selected as distributors for the Metro Star project, as it offers them the chance to directly participate in a large endeavor involving the many metro lines that HCMC plans to build.

Metro Star Investment Company Ltd.

Hotline: 090 789 6565

Address: 360 Vo Nguyen Giap avenue, Phuoc Long A ward, Thu Duc city, Ho Chi Minh City, Vietnam.

Comments (0)
  • Read More
Former Government Office chairman receives $7,900 bribe from property project

Former Government Office chairman receives $7,900 bribe from property project

Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.

Society - Sat, November 2, 2024 | 9:13 pm GMT+7

Thai food giant CP enters public-private partnership to promote food system transformation

Thai food giant CP enters public-private partnership to promote food system transformation

Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.

Companies - Sat, November 2, 2024 | 7:16 pm GMT+7

Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year

Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year

Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.

Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7

Vietnam likely to grow 6.5% in 2024-2025: VinaCapital

Vietnam likely to grow 6.5% in 2024-2025: VinaCapital

VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.

Economy - Sat, November 2, 2024 | 2:00 pm GMT+7

Major Vietnamese developer Novaland appoints new CEO

Major Vietnamese developer Novaland appoints new CEO

Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.

Companies - Sat, November 2, 2024 | 10:24 am GMT+7

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.

Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.

Companies - Sat, November 2, 2024 | 9:13 am GMT+7

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.

Industries - Sat, November 2, 2024 | 8:00 am GMT+7

Vietnam becomes Australia’s fastest-growing inbound market

Vietnam becomes Australia’s fastest-growing inbound market

The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.

Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7

Study finds shift in Thai consumers’ spending patterns

Study finds shift in Thai consumers’ spending patterns

Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).

Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7

Energy security, digitalization key to Indonesia's economic growth

Energy security, digitalization key to Indonesia's economic growth

The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.

Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.

Politics - Fri, November 1, 2024 | 9:25 pm GMT+7

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.

Politics - Fri, November 1, 2024 | 9:02 pm GMT+7

Thailand bans export of raw palm oil until December

Thailand bans export of raw palm oil until December

Thailand's Department of Internal Trade has temporarily banned the export of raw palm oil due to reduced production caused by drought and plant diseases.

Southeast Asia - Fri, November 1, 2024 | 8:31 pm GMT+7

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy Singapore Pte Ltd, under China-based Envision Energy, aims to kick off construction of the 300-MW Envision Nam Po wind power plant in Vietnam’s northern mountainous province of Dien Bien in June 2025.

Energy - Fri, November 1, 2024 | 8:30 pm GMT+7

Indonesia to ban plastic waste imports from 2025

Indonesia to ban plastic waste imports from 2025

The Indonesian government will start imposing a ban on the import of plastic waste from the beginning of next year, according to Minister of Environment Hanif Faisol Nurrofiq.

Southeast Asia - Fri, November 1, 2024 | 8:29 pm GMT+7