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CBRE Vietnam Real Estate Spotlight – W11 2018

Private Equity Discovers Vietnam's Rising Rich , Resort property market: mini hotels on the wane and  homestays on the rise, Top 10 Most Reputable Property Developers & Building Contractors & Building Material Companies 2018 announced …

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    • Tokyo Tower (Ha Dong district)

      • Total units: 688 units
      • Scale: 4,557 sm land area
      • Unit size: 76 – 116 sm (2 – 3 bedrooms)
      • Price*: from VND 23 million psm
    • An Khang Villa (Ha Dong district)
    • Total units: 396 units
    • Scale: 197,5 ha land area
    • Unit size: 175 – 315 sm (2 – 4 bedrooms)
    • Price*: from VND 45 million psm
    • Total units: 410 units
    • Scale: 4,576 sm land area
    • Unit size: 82 – 132 sm (2 – 4 bedrooms)
    • Price*: from VND 35 million psm
    • Golden Park (Cau Giay district)

          Prices included VAT

          
   

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    • Emerald Precinct (Tan Phu District)

      • Developer: Gamuda Land
      • Total units: 2,122  (for condos only)
      • Scale: six 15-floor blocks
      • Unit size: 49 – 105 ( 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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Private Equity Discovers Vietnam's Rising Rich 
Bloomberg

Warburg Pincus wrote a 370 million check for a stake in Techcombank. They focus on rich retail customers with wealth management, mortgages and insurance. Previous bets are a fifth of the largest mall owner in Vietnam, Masan Consumer Corp., and Vincom Retail JSC. 
Vietnamese economy is less dependent on crude oil, rice, coffee and footwear exports and has become part of Samsung supply chain with 30% of the phones assembling here. After the withdrawal of the US out of TPP, Vietnam and remaining 11 countries are negotiating a new agreement. Young population is also an important factor for an optimistic outlook. However, its support for the belt-and-road initiative is a big risk for Western private equity. Other concerns include macro-stability, real estate boom, and legal framework as the maximum stake for the single entity in banks is 15 % and foreign entity is 30%. 

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WB to help Vietnam in public transport development, drainage planning
Vietnam Plus

The World Bank (WB) promises to help Viet Nam in public transport development and drainage planning by 2030 with a vision towards 2050. The bank mobilized $550,000, and offer technical support to help Hanoi enhance the efficiency of its public transport system. WB will also help Hanoi in upgrading rivers, lakes and canals, devising anti-flooding schemes, and improving the drainage system to reduce air and water pollution as well as achieve better air quality. In 2017, the city upgraded 83 lakes and cooperated with German companies to reduce water pollution.

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Resort property market: mini hotels on the wane, homestays on the rise
Vietnamnet

In recent years, guest houses and mini hotels in Nha Trang and Da Nang have been having a moderate occupancy rate as customers focus more on quality and services. At the same time, condotels become more popular with moderate capital and good committed profit of 8-12%. However, the market seems to slow down in the second half of 2017 due to concerns about oversupply and legitimacy. Besides, thanks to the popular of homestay, bungalows and container houses are the new investment with competitive advantages: originality, landscapes, and low costs. 

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Vietnam’s Mobifone, partner scrap state-inspected $392mn acquisition deal
Tuoi Tre News

In late 2015, mobile network operator Mobifone announced it had acquired 95% of AVG, the operator of the An Vien Television payment television service, under an undisclosed agreement. The deal however sparked suspicion from Vietnam’s government, with the state inspectorate later tasked with launching an urgent and complete inspection into the Mobifone-AVG contract. On Monday, the two companies gathered for a reported six-hour meeting, after which they both agreed to cancel AVG’s transfering 344.66 million of its shares to Mobifone, and “to return what they had received from each other.”

 

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Top 10 Most Reputable Property Developers, Building Contractors, Building Material Companies 2018 announced 
Vietnamnet

For real estate developers, Vingroup ranks first. This is the leading company in many investment trends with diversified portfolio. Novaland, mainly focus on the South with financial strength and large land fund, is the second one. For construction contractor, rank 1 is Coteccons, and rank 2 is Hoa Binh Corp. These companies are experienced, reputable, and responsible. For construction material, Hoa Phat ranks first, and Viglacera ranks second. They are mostly old and large companies. In fact, media has played an important role in shaping companies’ images and reputation, and large companies such as Vingroup, Novaland, and Conteccons invest substantively in media with positive news’ frequency at 35%. Also, small companies have started to invest in media recently. In the future, reputation will play a greater role in public relations as Vietnam integrates into the Industrial Revolution 4.0.

 

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Ground broken at AEON Mall Ha Dong
Vietnam Economic Times

Japan’s leading retailer, the AEON Group, broke ground on March 11 at its shopping mall in Hanoi’s Ha Dong district, which will join its first in the capital, in Long Bien district, and be its fifth nationwide. Covering nearly 9.8 ha in Duong Noi ward, the mall is scheduled to open by the end of 2019. It will have three floors with a combined floor area of nearly 150,000 sm, and be able to accommodate 200 shops, including an AEON supermarket. The total floor area for business activities may be up to 74,000 sm. Kajima – Hoa Binh has been assigned as the general contractor for design and construction. The mall is located on the 16.7-ha Ha Dong International Hospital project, which is being developed by the BIM Group. The Hanoi People’s Committee last year approved the adjustment of this project, which converted 9.5 ha into a commercial center.

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An Suong Tunnel in HCMC opens to traffic
VOV

The project includes two one-way tunnels named N1 and N2. N1 opened on March 14, and are expected to relieve traffic congestion and decrease the number of accidents at An Suong intersection in Hoc Mon district. N1 is 445 meters long and 9 meters wide with two lanes. The tunnel is expected to have a lifespan of 100 years and survive 7 magnitude earthquakes. The second tunnel N2 is also planned to complete this year. 


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MGallery-branded hotel and residential complex underway in Ha Long
Vietnam Economic Times

French multinational hotel group AccorHotels and Vietnamese developer the Thuan Phat Investment & Services JSC kicked off construction of the Phoenix Legend Ha Long Bay Villas and Hotel in Ha Long city, northern Quang Ninh province on March 9. According to AccorHotels Vietnam, which owns and operates the project, Phoenix Legend Ha Long Bay Villas and Hotel comprises a five-star MGallery-branded hotel and its high-end apartments will be the first branded MGallery Residence in the world. Located on Bai Chay Hill, the 3.5 ha complex includes 220 hotel rooms, more than 200 high-end apartments on 45 to 150 sm, 26 villas on 300 to 750 sm, and other quality facilities such as a wine cellar, a cigar room, a gallery, a rooftop bar and a restaurant.

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Silk Path Hotels Resorts opens French chateau-inspired resort in Sa Pa
Bizhub

The 5-star Silk Path Grand Resort & Spa Sapa has officially opened its doors to welcome tourists to Sa Pa – the famous tourist magnet in the northern province of Lao Cai. Spread over two hectares, the property features 152 rooms divided into 10 categories, including Classic Room, Junior Suites, Executive Suite, Ambassador Suite, President Suite, Duplex Room and Bungalows. The accommodation at the resort is celebrated with thoughtful designs and decor providing spacious layouts, luxurious bathrooms and indulgent bedding. Every room boasts a balcony and some a large terrace. 

 

Khai Son Hill project: Stop construction of 26 unauthorized villas until receiving construction permit
CafeF

The Khai Son Hill villa project spreads over 2.1 ha, including 66 high-end villas and a Center House. The project is being construct from 2016 to 2019. Of the 66 villas in the Khai Son Hill project, 26 villas are larger than 500 sm. According to the law, villas larger than 500 sm require the construction permit. However, Khai Son JSC has allowed these villas to be constructed without having received this required document. Confirming this information, Khai Son Hill developer said they have stopped construction of the project. They are also working with the authority to speed up the procedure while adhering to the law.

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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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