Phase one of the The Estates at Montgomerie Links in Vietnam has just been launched at the Park Hyatt in Ho Chi Minh City.

The first phase of sales has already been completed and project agents CB Richard Ellis Vietnam Co. Ltd. and Indochina Land are planning release of the second phase, scheduled for the middle of the second quarter 2008.

The Estates at Montgomerie Links is the third development in the central Vietnam coast region to be carried out by Indochina Land, a branch of the Indochina Capital investment fund, and the 50-70 year leaseholds on property available to foreigners has proved a big draw.

The property is made up of 54 luxurious villas, located between Hoi An and Danang on the Heritage Coast. It is 20 minutes from an international airport within view of the Marble Mountains and the South China Sea.

Each villa is situated on the Championship Golf Course of Montgomerie Links, designed by golf legend Colin Montgomerie, and will face the links style course which will have 18 holes upon completion, nine of which are expected to be completed by the end of 2008.