Vincom offers low rates to lure customers to Vietnam housing mkt
Mon. November 10, 2008; Posted: 01:40 AM
HANOI, Nov 10, 2008 (Asia In Focus via COMTEX) --
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PowerRating -- Customers leasing apartments
at Vincom Park Place can apply to receive loans with a 10 per
cent interest rate, a much lower interest rate than is typical,
in an attempt to heat up the Vietnamese housing market. Le Khac
Hiep, chairman of Vincom's management board said the interest
rate was solely for customers taking out loans from November
2008 to November 2009 to lease two or more flats.
* The remaining interest rate would be paid by the Vincom
affiliate PFV INVESTMENT AND COMMERCE, a major investor in the
Vincom Park Place Project in Hai Ba Trung district, Hanoi, he
said.
* Under the contract, the loans would be capped at 70 per
cent of the total cost of flats in the building, and the loan
terms cannot exceed 15 months.
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