CapitaLand Vietnam recently announced that one of its high-end residential developments in Ho Chi Minh City’s District 2, the Vista Verde, has been granted the first batch of ownership certificates, more commonly known as pink books. The ownership certificate is a certificate of rights and ownership of residential housing and the first batch of ownership certificates were handed over to Vista Verde home purchasers at the end of February.
|CapitaLand’s Vista Verde project in HCMC’s district 2 area|
First launched in 2014, Vista Verde is developed by CapitaLand Vietnam and its joint venture partner Thien Duc Trading Construction Ltd. Construction. The project was completed ahead of schedule and apartments were handed over to its first home purchasers starting in July 2017. After the handover, the developer collaborated closely with purchasers to apply for the ownership certificates and the first batch has now been issued.
With the ownership certificate, purchasers can enjoy legal rights in accordance with laws on residential housing, such as rights to assign, lease, and inherit, etc. Being able to obtain the ownership certificates proves the developer’s commitment in developing a project that is officially approved by authorities.
|Residents at Vista Verde, CapitaLand Vietnam’s high-end residential development receive the first batch of pink books|
Chen Lian Pang, CEO of CapitaLand Vietnam discussed the Vista Verde and said that: “Vista Verde marks several milestones achieved by CapitaLand Vietnam. Vista Verde was a project that moved the market. After the soft launch in mid-July 2014, other developers took their cue and launched projects too. One year later, in July 2015, a slew of legislative changes was announced to permit foreign ownership of real estate in Vietnam, and we held the maiden launch of Vista Verde for the first time in Singapore and in Hong Kong. And now the first batch of ownership certificates have been issued.”
Vista Verde also won the prestigious “Best Condominium in Vietnam” award at the Asia Pacific Property Awards 2015 and the “Best Landscape Architectural Design” award at the Vietnam Property Awards 2015.
|Vista Verde’s landscaped outdoor pool and recreation area|
The readers of Vietnam Investment Review (VIR) newspaper voted Vista Verde as “A new benchmark for living space 2018” based on criteria including design style, utility systems, environmental-friendliness, resident relations, legal standards, and transparency in communications. The readers of VIR also recognized CapitaLand Vietnam’s efforts as a developer to incorporate international design principles and best practices at Vista Verde.