The Palace Residence is the next project launched by the Novaland Group in District 2. The project is masterplanned as a mixed-use complex of apartments, offices and commercial service centers, expected to supply the market with more than 2,000 high-end apartments, meeting the demand for a convenient, luxurious residence for urban dwellers.

Novaland is already very familiar in the Vietnamese real estate market in general and in Ho Chi Minh City in particular. The group's reputation has been proven through a series of highly successful high-end projects such as Lexington Residence, Lakeview City, Sunrise CityView, Sunrise Riverside, The Sun Avenue,... Building on that success, in the final months of 2018 Novaland announced the Palace Residence project located in District 2.

The Palace Residence is planned on a site of 2,45 ha, located within the master plan of the Saigon Co.op An Phú complex (formerly named An Phú Complex). This is a mixed complex including commercial, office, hotel and high-end residential components that began construction in 2012 and was expected to be completed in 2015. However, market fluctuations caused the project to fall into a dormant state, only showing signs of restart recently. The appearance of The Palace Residence has made the Saigon Co.op An Phú area even more active in these final months of the year.

It is reported that currently The Palace Residence in District 2 has completed site clearance, finalized the necessary procedures, obtained investment and construction permits and has begun foundation works. The project is expected to be handed over in February 2022. Ahead of the official launch at the end of this year, Palace Residence has attracted the interest of many customers. Chintai will go over some information and analysis about this project to give you a clearer view.

Location of The Palace Residence

The Palace Residence benefits from a prime location fronting Song Hanh and Mai Chi Tho roads, An Phu Ward, District 2, adjacent to the Lexington Residence project also developed by Novaland. From this central position, residents can easily travel to surrounding areas. Specifically, it takes just 5-7 minutes to reach District 1 center via Mai Chi Tho and the Thu Thiem tunnel; about 3 minutes to Bình Thạnh via the Saigon Bridge; and convenient access to District 9, Dong Nai, Binh Duong,... via the Hanoi Highway and the Ho Chi Minh City – Long Thành – Dầu Giây Expressway.

Not only does The Palace Residence have multi-directional connectivity advantages, its location also carries significant appreciation potential because it is in a bustling area with a civilized, educated community and a large expatriate population. The project sits adjacent to high-end residential areas such as Thao Dien, An Phu – An Khanh, Thanh My Loi,... thereby inheriting a full range of external amenities that create a prosperous lifestyle right in the heart of District 2.

Design of The Palace Residence project

The Palace Residence is planned on a 2,45 ha site, with a construction density of 28% and green space ratio of 59,6%, delivering a green, fresh living environment close to nature. The project is developed as a mixed-use scheme of apartments - offices - commercial service center. Accordingly, the project will have two zones: Zone 1 is the residential area consisting of 6 blocks (A, B, C, D, E, F) and Zone 2 is the office area consisting of 2 blocks.

The residential zone rises 35 floors, with 2 basement levels connecting the buildings, and shophouses comprising 2 floors. Apartments at The Palace Residence include: 1-bedroom (45m2, 50m2, 55m2), 2-bedroom (73m2, 80m2), 3-bedroom (108m2, 113m2) to suit different needs and purposes. With a density of only 8 units/sàn, the residential area ensures spacious, airy and comfortable living for residents. All apartments are modernly designed, logically arranged, and optimized for natural light and ventilation to provide the highest level of convenience.

At the end of 2018, the developer planned to open sales for the two apartment blocks E and F first.

Amenities at The Palace Residence

Novaland's projects have long been highly regarded for their upscale amenities and The Palace Residence is no exception. The developer has generously allocated 59,6% of the area to green space and internal amenities for residents. It can be said that The Palace Residence is a perfect combination of a full modern lifestyle and a serene, relaxed rhythm so that each resident can fully enjoy every moment.

The internal amenities at The Palace Residence include:

- 5-star standard resort-style infinity pool of 750m2;

- Gym, sauna, massage facilities,...

- Outdoor sports and walking areas;

- Landscaped park and lake;

- BBQ area;

- Shopping center, restaurants, cafés, convenience stores,...;

In addition, thanks to its prime location the project also benefits from a complete, high-end external amenity system:

- Shopping: BigC An Phú, Vincom Mega Mall, Mega Market,...

- Schools: public school system and international schools such as AIS, BIS, TAS,...

- Healthcare centers: Vinmec Hospital, District 2 Hospital, AIH International Hospital,...

- Entertainment and leisure: Rach Chiec National Sports Complex – the venue for Seagame 2020, Snow Town amusement park,...

Therefore, choosing to reside at The Palace Residence means you and your family can find every type of service suitable for all ages within a few steps, without worrying about long distances or traffic congestion.

Not only is it a desirable place to live, The Palace Residence is also considered an investment option with profit potential. With its prime location in District 2 – an area receiving coordinated investment, completed infrastructure and convenient transportation – The Palace Residence is expected to appreciate further, especially as the city authorities promote shifting the core city center to the new Thủ Thiêm urban area in District 2. The upcoming Metro line and many other projects are also important complementary factors, increasing the attractiveness of District 2 projects in general and The Palace Residence in particular.

The Palace Residence will launch the initial sales phase for the two apartment towers E and F at promotional prices; it is estimated that 2-bedroom units will be priced from 3,9 – 4,3 tỷ, and 3-bedroom units priced 6,6 – 6,9 tỷ. The payment schedule is flexible: only 15% upon contract signing and then 1% per month until July 2020, and thereafter 2% per month.

Information on the launch timing and sales policies for The Palace Residence project will be continuously updated by Chintai so that customers can quickly grasp suitable investment opportunities. Therefore, don’t miss Chintai’s articles; in addition, you can also download the Saigon Co.op An Phú Project Overview document compiled by a Chintai specialist as a single comprehensive document.