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CBRE Vietnam Real Estate Spotlight – W11 2019

Fado Vietnam inks deal with Alibaba to support domestic firms, Japanese investors flock to real estate, FLC Group to launch six projects in Hai Phong…

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    • Hateco Laroma (Dong Da District)                             

      • Total units: 281 units
      • Scale: 3,153 sqm
      • Unit size: 81.2 – 138 sqm (2- 4  bedrooms)                                  
      • Price*: from VND 65 million per sqm
    • Starlake (Tay Ho District)                              
    • Total units: 603 units
    • Scale: 186.3 ha                                                              
    • Unit size: 91.25 – 154.54 sqm (2- 4 bedrooms)                                  
    • Price*: from VND 65 million psqm
    • Total units: 368 units
    • Scale: 4,576 sqm land area                                                              
    • Unit size: 82.6 – 132.5 sqm (2- 3 bedrooms)                                  
    • Price*: from VND 37  million psqm
    • Golden Park Tower (Cau Giay District)                              

* Prices included VAT

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    • Heaven Riverview (District 8)                                               

      • Total units: 960 units                                                               
      • Scale:  16.939,8 sm land area
      • Unit size: 50.37 – 68.68 sm (1 – 2 bedrooms)                                   
      • Price*: from VND 20-22 million psm
    • Charmington Iris (District 4)
    • Total units: 1,438 units                                                               
    • Scale: 16,645 sm land area
    • Unit size: 45 -122 sm (1 – 3 bedrooms)                                   
    • Price*: from VND 52 million psm

* Prices included VAT





















Dung Duong MRICS

Senior Director

T +84 286 284 7668


An Nguyen

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SE Asia Stocks-Most rise as amended Brexit deal sharpens risk appetite
Tuoi Tre News

Most Southeast Asian stocks rose on Tuesday this week, with Vietnam and Singapore leading gains after the European Commission agreed to changes in a Brexit deal, whetting appetite for riskier assets. Vietnam's index jumped 1.7 percent, its highest closing level in over 5 months, with financial and real estate stocks boosting the index. Joint Stock Commercial Bank for Foreign Trade of Vietnam added 3.5 percent and Vietnam Technological and Commercial Joint Stock Bank gained 1.9 percent.



After the "land fever", many real estate projects at Me Linh are being abandoned, the Prime Minister required Hanoi to check again. 


Me Linh has 47 urban real estate projects but most of them have been still in unfinished status for over ten years. The fact that the real estate market here are being frozen, but investors claimed for the difficulty in clearing the ground when moving from Vinh Phuc to Hanoi. Meanwhile, most of the projects have been mobilized capital since the period of uncleared-ground. 100% value of the land were collected. If Hanoi is not going to have any strict regulations or probation, this situation will be continuing.



Hyatt announces plan for luxury hotel and residences on Phu Quoc



Chicago-headquartered Hyatt Hotels Corporation recently announced that a Hyatt affiliate had entered into an agreement with Vietnamese corporation BIM Group to develop the Park Hyatt Phu Quoc Hotel as well as 65 residences on Phu Quoc Island, Kien Giang Province. Slated to open in 2022, Park Hyatt Phu Quoc and residences are poised to introduce the brand’s refined luxury and exceptional service to Viet Nam’s emerging resort destination. Park Hyatt Phu Quoc will be a 30-minute drive from Phu Quoc International Airport, with direct access via the main north-south highway, and 40 minutes from Duong Dong, the island’s main town. Situated on the southwestern tip of Phu Quoc Island on an area of 160 hectares, the hotel and residences will offer guests and residents an exclusive oasis and a sophisticated home-away-from-home with designs inspired by traditional Vietnamese villages and all guestrooms, suites and villas offering stunning sea views. 



FLC Group to launch six projects in Hai Phong

Property developer FLC Group has proposed six new projects in the northern port city of Hai Phong: Do Son resort and hi-end ecological villa complex, a resort and urban area complex in Hai An District, an urban area in Tan Thanh Ward, a 70-storey trade centre and apartment building project at No 4 Tran Phu Street, an apartment building at No 45 Lach Tray Street and a hi-tech agricultural project FAM – Hai Phong. FLC also proposed launching eight routes for its newly-launched Bamboo Airways from/to Hai Phong including four domestic flights connecting Hai Phong, Da Nang, Quy Nhon, HCM City and Phu Quoc and four international routes connecting the city to Bangkok, Singapore, Seoul and Siem Reap.



Site clearance for F1 racing construction
Some areas have been completed the clearance to keep up with the progress and being under construction. Hanoi People's Committee has just issued a decision approving the detailed planning of the Formula 1 – Hanoi Grand Prix in Nam Tu Liem district, with a total area of over 88ha. The length of the race is more than 5.5km, with a width of 12m to 15m, mainly running on the current road area with a length of about 4km will be renovated the pavement structure to meet the standard requirements the technique of the track; The remaining road section about 1.5 km will be invested in new construction.



Apartment maintenance fund: Maintain or Dismiss?


2% maintenance fund has been resulted of many disputes between customers and apartment buildings across the country. Some investors and residents do not contribute maintenance fees as prescribed; others keep the maintenance fund from being handed back to the management. The conflicts mostly come from how to manage and use the maintenance fund suitably. Maintenance fees are also a source of limited use, usually only about 5-10 years. Therefore, it is not necessary to pay 2% maintenance fee from the beginning. If the cost arises, it will need to be paid in the future. In the case of non-payers, there must be regulatory sanctions, or it is easier to deduct from the management budget for the operation of the apartment. Doing so will reduce the dispute related to this amount



Japanese investors flock to real estate
Japanese investors are increasingly attracted to the Vietnamese real estate market. With the high prestige in financial capacity and visible actions after making any investment decision, projects backed by Japanese investors receive a very strong response from the market. Especially, Danang has recently become a fresh destination for Japanese investors, to rank alongside Hanoi and Ho Chi Minh City. Some famous Japanese investor in Vietnam such as Sumitomo and BRG Group, which are the largest project from Japanese investment, are expected to start construction of a $4.2 billion smart city in Hanoi this year. Mitsubishi has recently decided to pour a total of around $500 million to develop a range of projects developed by domestic Phuc Khang Group. Besides that, Hankyu Hanshin Properties Corporation and Nishi Nippon Railroad have also been in co-operation with Nam Long Group to develop a range of property ventures in Vietnam



Vietnam prioritises renewable energy development: Deputy Minister



One of Vietnam's top energy priorities is to promote renewable energy to gradually reduce its reliance on traditional forms of electricity generation to protect the environment, Deputy Minister of Industry and Trade Cao Quoc Hung has said. To be specific, the Ministry of Industry and Trade has encouraged the development of renewable energy by developing and submitting an issue a series of mechanisms for solar power, wind power, electricity produced from solid waste and biomass power. Vietnam has also promulgated preferential policies for investors such as providing credit priority, tax exemption and reduction and land rent to encourage them to invest in this sector.



Vietnam’s e-commerce to earn $10 billion by 2020

Vietnam’s e-commerce is forecast to gross $10 billion by 2020. Significantly, e-commerce has offered more opportunities to Vietnamese enterprises even small-scale enterprises to sell commodities to any nation with meager expense. Nearly of 700,000 Vietnamese enterprises, small-and medium-sized enterprises account for 98 percent. Though these enterprises have gradually played important role in the country’s economy, many of them bumped into difficulties in selling commodities in global markets or setting up online selling channels. The most difficulties which Vietnamese firms are facing are international logistics and quality controlling management.



Fado Vietnam inks deal with Alibaba to support domestic firms

Cross-border e-commerce platform Fado Vietnam and its Chinese counterpart Alibaba signed a cooperation agreement on March 14 in Ho Chi Minh City to launch a new trading channel supporting Vietnamese firms, especially small- and medium- sized enterprises (SMEs). Under the cooperation deal, Vietnamese firms will be able to introduce their products through the website, including the country’s staples in such sectors as footwear, handicraft, and industry.