Sun Group’s Phu Quoc portfolio grabs Singaporean investors’ attention

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Hundreds of investors and real estate experts from Singapore attended a conference on September 27 at Royal Plaza on Scotts Hotel in Singapore where Sun Group showcased its vacation real estate projects on Phu Quoc Island. The key selling points, as agreed by all those present, were the projects’ fantastic growth prospects, competitive prices and the reputation of the Sun Group brand.

Sam Ong from Savills Singapore said Phu Quoc is on its way to becoming Vietnam’s Sentosa, with its prime location, natural beauty and unfathomable tourism potential.

“Starting out as a small fishing village, after 20 years, Sentosa has become a world-renowned tourist paradise. Phu Quoc has similar potential. Leading Vietnamese developers are working day and night to transform Phu Quoc,” Ong said.

As an investment destination Phu Quoc has grown in the context of a diversification fever sweeping Singaporean real estate investors who have already carved out stable profits from traditional markets in the region, such as Thailand and Bali.

Ong said that only projects that meet international standards developed by globally renowned can attract Singaporean investors who are looking for high growth prospects, but prefer to play safe. He added that this is the reason Sun Group’s vacation real estate projects launched at the event received so much attention.

Victor Hong, an investor with a lot of experience in real estate investment around the world, said the developer’s reputation is a key factor. “We need to know how famous the developer is and what other products they have. Knowing that the acclaimed InterContinental Danang Sun Peninsula Resort comes from Sun Group , I am totally convinced,” he said.

In addition to world-award-winning properties, a prime location overlooking the ocean and a team of world-renowned designers, Sun Group’s Phu Quoc portfolio also leaves similar projects in Singapore in the dust price-wise.

In Sentosa, two-bedroom beach-front condotels of about 110 square metres go for at least $3 million per unit ($27,000 per square metre). The hottest products that go for $7 million remain scarce and are getting more costly, even though Singapore is raising the ownership tax on properties.

Some villas in Sentosa cost up to $11 million, while Sun Group’s villas and condotels in the same segment are much cheaper. Villas in Premier Village Phu Quoc Resort are only $1-2 million each. Units in Condotel Premier Residences Phu Quoc Emerald Bay cost $150,000-1 million. Villas in the world-famous InterContinental Danang Sun Peninsula Resort are priced from $3.8-6.5 million, very competitive compared to Singapore and other countries in the region. Moreover, Sun Group commits a profit of at least 9 per cent of the property's value within nine or ten years with its rental programme.

The developer's reputation, bargain prices and the attractive profit commitment scheme convinced Singaporean investors that the event, and Sun Group’s projects, are worth their attention.