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Vista Verde residents granted ownership certificates

Released at: 09:40, 05/03/2019

Vista Verde residents granted ownership certificates

Photo: CapitaLand Vietnam

Residents at CapitaLand Vietnam's high-end residential development receive first batch of pink books.

by Hong Nhung

CapitaLand Vietnam recently announced that one of its high-end residential developments in Ho Chi Minh City’s District 2, 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. The first batch of ownership certificates were handed over to Vista Verde home purchasers at the end of February.

First launched in 2014, Vista Verde is developed by CapitaLand Vietnam and its joint venture partner Thien Duc Trading Construction Ltd. Construction was completed ahead of schedule and apartments were handed over to its first home purchasers from July 2017. After handover, the developer collaborated closely with purchasers to apply for the ownership certificates and the first batch has now been issued.

Obtaining ownership certificates is testament to the developer’s strong commitment in developing a project approved by authorities. 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.

“Vista Verde marks several milestones achieved by CapitaLand Vietnam,” said Mr. Chen Lian Pang, CEO of 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. We also regularly organize activities for residents to create more than just a residence, but a community.”

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.

It was also voted by readers of Vietnam Investment Review (VIR) newspaper in the “A new benchmark for living space 2018” campaign, based on criteria including design style, utility systems, environmental-friendliness, resident relations, legal standards, and transparency in communications. These awards recognize CapitaLand Vietnam’s efforts to incorporate international design principles and best practices at Vista Verde.

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