Vietnam is building a new city with luxury apartments reportedly costing less than $40,000.
The Sun Urban City project will cover around 420 hectares of land and is in Lam Ha Ward, Phu Ly City, Ha Nam, about a 45-minute drive from Hanoi.
The project is Ha Nam's largest urban project and comes as part of Phu Ly City's goal to become a major urban area by 2030, hoping to attract 10 million tourists with the completion of the city, the construction news outlet constructionreviewonline.com reported.
Not only are the apartments highly affordable and five-star luxury, but customers who book their lodgings in the city next month will reportedly receive an immediate 3 percent discount, while customers already based in Ha Nam will get an extra 2 percent off, the local outlet vietnam.vn reported.
Finding affordable housing is a problem for residents in Vietnam, Hoang Xuan Giang, consultant of Dat Xanh Mien Bac, told the local outlet.
He said that skyrocketing housing prices have been a big issue and the demand for urban housing is particularly high among young families.
The project's website describes the city as "a symbol of modern lifestyle, where the sustainable values of an ecological city converge. Here, residents can not only enjoy a fresh and green living environment but also have the opportunity to experience high-class facilities, meeting all needs from entertainment to health care."
There will be a wide range of accommodation, from studios and two-person apartments to townhouses and villas.
The city will also have five parks: the Sun World Park, a sports park, an ecological park, a festival park and a cultural park.
The Sun World Park will be a 19-hectare water park with adventure games, a wave beach and an indoor park, according to constructionreviewonline.com.
The sports park will be an area of 22 hectares with gym equipment as well as basketball, soccer and tennis courts, and dedicated areas for artificial climbing, running tracks and yoga.
The festival park will provide a space for domestic and international performances, while the ecological park will be a 13-hectare green space, offering residents a tranquil spot for picnics and other activities.
The cultural park will be a 36.7-hectare space that is 40 percent covered by a lake. Around the lake, there will be playgrounds, an event square and a brewery.
Some parts of the city will be ready in 2025, including some of the apartments, while the project as a whole is scheduled for completion in 2028.
Newsweek has contacted the Sun Group via email for comment.
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