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Star Tower tops off

Updated: 14/10/2013 | 11:08:03 AM
Vietnam’s real estate market may be in a pronounced slump, but the developer of Star Tower in Hanoi is on schedule.

CFTD-VLA Building, the investor combined with its exclusively sale agency CB Richard Ellis, last week organised a top-off ceremony to mark the completion of the building frame.

Thai Ngo Lac, director of the project and representative for CFTD-VLA Building, said even the real estate market faced many difficulties, the investor still ensured the building’s quality and on schedule.

Located in Duong Dinh Nghe street, Star Tower expects to benefit from a convenient transportation system as well as excellent amenities.

The project is a high technology apartment and office building, which offers 140 units and more than 7,100 square metres of offices for lease.

It is also equipped with swimming pool, gyms, restaurants and other facilities. It is estimated that the office for lease of Star Tower to be put into operation in December 2012 and the residential in the first quarter of 2013.

Star Tower is a good choice for tenants who are seeking space which has convenient transport, large car parking and flexible office space.

According to CBRE, every metre of office in this tower is leased with from $14 to $17 per month.

“I may say that this price is fairly low compared to other locations and previously,” said Chu Thanh Huong, CBRE’s senior manager for office leasing.

Meanwhile CBRE also said that the investor was offering a price of VND31.2 million for every metre of residential, excluding VAT.