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CBRE Vietnam Real Estate Spotlight – W10 2018

Dragon Capital pouring hundreds of millions of USD in local real estate portfolios, Saigon’s first metro line faces further delays due to $44 million debt, Jyuichiya opens new factory in Hai Phong….

CBRE Newspaper Updates on Residential Ads

         

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    • TNR Goldmark City (Bac Tu Liem district)

      • Total units: 5,000 units
      • Scale: 113,909 sm land area
      • Unit size: 74 – 172 sm (2 – 4 bedrooms)
      • Price*: from VND 27 million psm
    • Eco Dream (Hoang Mai district)
    • Total units: 572 units
    • Scale: 20,000 sm land area
    • Unit size: 45 – 98 sm (1 – 3 bedrooms)
    • Price*: from VND 25 million psm
    • Total units: 534 units
    • Scale: 7,259 sm land area
    • Unit size: 54 – 91 sm (2 – 3 bedrooms)
    • Price*: from VND 26 million psm
    • Anland Complex (Ha Dong district)

          Prices included VAT

          
   

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    • Q7 Saigon Riverside (District 7)

      • Developer: Hung Thinh Land
      • Total units: 3,580 
      • Scale: five 34-floor block
      • Unit size: 53.2 – 86.68 ( 1 – 3 bedrooms)
    • Carillon 7 (Tan Phu District)
    • Total units: 625 (for condos only)
    • Scale: one 27-floor block
    • Unit size: 45.27 – 105.11 sm (1 – 3 bedrooms)
    • Price*: from VND 1.8 billion/2BRs
    • Total units: 3,175 (for condos only)
    • Scale: twelve 33-34-floor blocks
    • Unit size: 49.14 – 95 sm (1 – 3 bedrooms)
    • Gem Riverside (District 2)

* Prices included VAT

Note: Selected newspapers include Dau Tu Bat Dong San, Thoi bao kinh te Vietnam, The gioi thong tin bat dong san, CafeF, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, Vnexpress

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Amazon set to wade into Vietnam’s fast-flowing e-commerce market 
VnExpress

American e-commerce giant Amazon is set to join Vietnam's fast-growing market this month by opening up its platforms to local small and medium enterprises. A VnExpress source said the company is expected to sign a deal with the Vietnam E-Commerce Association at an e-commerce forum in Hanoi on March 14. Its development strategy will be revealed at the Vietnam Online Business Forum, which will be held first in Hanoi and then move to HCMC on March 16 and include discussions regarding online shopping trends, tax management and new technologies.

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Major Trans-Pacific trade deal signed in Chile
Nhan Dan

Representatives from 11 member countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam, signed the pact at a ceremony in the Chilean capital of Santiago, early on March 9 (Vietnam time).  The landmark Trans-Pacific trade agreement covers 30 chapters, and deals not only with traditional areas of international trade, such as goods, services, and investment, but also with newer issues, including e-commerce and State-owned enterprises. When it comes into force 60 days after being fully ratified by six of the 11 members, the pact will create the largest free-trade zone in the world, with a market encompassing nearly 500 million people and representing about 13.5% of the global gross domestic product.

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Dragon Capital pouring hundreds of millions of USD in local real estate portfolios
The Leader

After signing the agreement last year, Dragon Capital has officially held a 13% stake in CEN Land, a member company of CEN Group. CEN Land, which has the charter capital of VND500 billion (US$22 million), was valued at US$84 million by Dragon Capital before being invested by Dragon Capital. Dragon Capital earlier became a strategic shareholder of Hai Phat Investment after signing a contract to purchase a 15 stake in the company. According to Dragon Capital at the end of last year, Dragon Capital will continue to invest in privately-owned and State-owned companies which will conduct IPOs in the incoming time. Among real estate companies in which Dragon Capital is interested, SonKim Land and MB Land are the 2 companies planning IPOs in the near future.

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Saigon’s first metro line faces further delays due to $44 million debt
VnExpress

HCMC’s railway management unit has urged the municipal government to allocate $43.9 million from its own budget to pay contractors for the city's first metro line while waiting for funding from Hanoi. Construction of the metro system in HCMC is considered a key national project and requires the legislative National Assembly’s approval before the government makes any financial decision. The deadline for completion set for 2020 to build a 20km metro line linking five of the city’s districts (1, 2, 9, Binh Thanh, Thu Duc) and stretching to Di An District in Binh Duong Province. Around 50% of the project has been completed, but with its constant thirst for investment, it remains unclear whether the deadline will be met.

 

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HCMC People’s Committee approves car parking fee increase
SGGP

Chairman of HCMC People’s Committee Nguyen Thanh Phong has agreed with the proposal by the city Department of Transport to increase car parking fee in roadways. Mr. Phong assigned the department to coordinate with relevant agencies to complete a draft statement on the project and submit it to the People’s Committee to ask for opinions of the standing board of HCMC Party Committee before submitting to the city People’s Council as per regulations.

 

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Jyuichiya opens new factory in Hai Phong
Vietnam Construction

Japan’s Jyuichiya Industries Co Ltd, specialising in welding, opened its first overseas factory on Monday in the DEEP C Industrial Zone in the northern Hai Phong Port City. Covering an area of 14,660sm, the US$5 million factory has been built by Daiwa House Viet Nam. The plant will start production next month utilising young engineers in Hai Phong and the nearby seaport.

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Topping out ceremony of the tallest building in Vietnam.
VnExpress

On March 9th, Coteccons Construction Corporation held the topping out ceremony of The Landmark 81 (81 floors) in Vinhomes Central Park – HCMC of Vingroup earlier than expected 45 days. The 461.2m building crossed the twin towers in Malaysia and became one of the top 10 highest towers in the world. This is a complex with a total floor area of 115,000sm and 90,000sm of basement space, including functional spaces such as hotels, serviced apartments, commercial apartments Officetel, shopping centers, restaurants , observation deck …


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Stuck with procedures, An Phu intersection unable to start construction
SGGP News

According to the VEC, the project needs to implement 15 types of construction procedures from now until December 2019. Of these, there are 7 procedures to adjust loan reallocation with Japanese International Cooperation Agency (JICA) and relevant ministries. In addition, there are 4 procedures in technical design and estimates establishment to prepare bidding documents for construction and four others in bid invitation. The VEC said that ministries and the State Bank of Vietnam should assist to quickly handle procedures in reallocating the funds in the loan agreement to build the project and extend implementation deadline.

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Big game of Japanese giants into real estate Vietnam with billions dollars plans
CafeF

The $ 37.3 billion smart city plan is located along the Vo Nguyen Giap Highway in the north of Hanoi (the area from Nhat Tan to Noi Bai Airport) with the participation of 20 Japanese companies, including Leading corporations such as Sumitomo, Mitsubishi, Tokyo metro station, etc. Not only the smart metropolitan development plan in the north of Hanoi, but the Japanese are also actively investing in HCMC. According to HCMC’s urban upgrading and urban development plan, in the next few years, the urban renewal and urban development projects in some districts need Very large capital, estimated to billions of dollars. It is noteworthy that Japanese investors such as Obayashi, Shimizu, Hitachi, Sumitomo Construction, Hankyu, Mitsubishi Corporation, Creed Group … are also particularly interested in this program of HCMC. 

 

Banks tighten capital flow, real estate business is ready for new "game"?
Dautu BDS

According to HoREA's recommendations, in the coming time, for the sustainable development, it is required that real estate businesses not only have to prepare clean land fund, quality of works, and progress of project implementation; transparency in corporate governance … but also the preparation of conditions for access to bank credit loans under the new policy now. At the same time, be prepared to limit the credit to real estate is expected to apply from January 1, 2019 according to the schedule of Circular 19/2017 / TT-NHNN.

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FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen
Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

 

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