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CBRE Vietnam Real Estate Spotlight – W13 2018

PM Nguyen Xuan Phuc officially approves Tan Son Nhat Airport expansion project, Vietnam's Economy Expands More Than 7% in First Quarter, Vietnam attracts $5.8 billion in FDI in first quarter…

CBRE Newspaper Updates on Residential Ads


  • Two New Launched

    • Eco Dream (Thanh Xuan District)

      • Total units: 527 units
      • Unit size: 45 – 98 sm (1 – 3 bedrooms)
      • Price*: from VND 25.5 million psm
    • Mipec City View (Ha Dong district)
    • Total units: 440 units
    • Unit size: 50.9-70 sm (2 – 3 bedrooms)
    • Price*: from VND 15 million psm
  • Advertisement
  • Westbay Sky Residence (Hung Yen District)

    • Total units: 2,080 units
    • Scale: 27,000 sm land area
    • Unit size: 45 – 65 sm (1 – 3 bedrooms)
    • Price*: from VND 21 million psm

          Prices included VAT


  • One New Launched

    • Q7 Riverside Saigon Complex (District 7)

      • Developer: Hung Thinh 
      • Total units: 3,580 (for condos only)
      • Scale: five 34-floor blocks
      • Price*: from VND 1.4/unit
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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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PM Nguyen Xuan Phuc officially approves Tan Son Nhat Airport expansion project 

The project is proposed by the French consultant company ADP-I that chose to expand southwards thanks to its various benefits compared to enlarging northwards, such as employing its capital effectively, reducing the surface area which needs to be reclaimed for construction, using technology solutions to ensure the safety and security to the transportation. Accordingly, the airport will be designed to serve both civil and military flights and able to receive 50 million passengers a year by 2025. The airfield will be operated in parallel with Long Thanh Airport which is expected to be finished in 2025. The Prime Minister asked the Ministry of Transport to coordinate with ADP-I and local consultants to complete the project on time to kick off its construction soonest with an aim to reduce overloading at the airport. 

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Vietnam's Economy Expands More Than 7% in First Quarter

Vietnam’s economy continued to post stellar growth in the first quarter, fueled by an export boom. Gross domestic product rose 7.38 percent in the first quarter from a year earlier, the General Statistics Office said in Hanoi on Thursday. Vietnam has outperformed most of its Southeast Asian peers as export growth remained resilient on the back of a global trade recovery last year. And even though the trade outlook has turned more gloomy this year amid rising tensions between the U.S. and China, the world’s two largest economies, Vietnam expects to sustain growth of about 7 percent.

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March CPI down 0.27% against February

The CPI was down 0.27 per cent in March compared to February but up 2.66 per cent year-on-year, according to the General Statistics Office (GSO). Eight of the eleven goods in the CPI basket declined during the month. Medicine and healthcare services saw the highest increase, of 1.98 per cent. Some goods in the basket saw only slender growth, such as household appliances and equipment, up 0.02 per cent, and education 0.01 per cent. Most remaining goods and services fell. The GSO said that core inflation (the CPI excluding cereals, meat, energy and State-managed goods such as education and healthcare services) rose 2.82 per cent year-on-year in the first quarter. Core inflation in March fell 0.09 per cent compared to February and increased 1.38 per cent compared to March 2017. The first two months of this year featured the Tet holidays, resulting in higher travel demand. Global fuel prices also increased sharply in the first three months, raising the average petrol price by 9.18 per cent year-on-year and contributing 0.38 per cent to the CPI increase. 

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Vietnam attracts $5.8 billion in FDI in first quarter

The flow of foreign direct investment (FDI) into Vietnam in the first quarter of 2018 declines 25% to 5.8 billion USD, but disbursement rose by 7.2 % year-on-year to 3.88 billion USD. Processing and manufacturing is the most attractive sector with 3.44 billion USD, 59.4% of total. Retail and wholesale ranks second with 486 million USD, 8.4%. Korea is the biggest investor with 1.84 billion USD, 31.6%. Hong Kong ranks second with 689 million USD, 11.9%. Singapore is the third with 649 million USD, 11.2%. HCMC is the largest recipient with 1.7 billion USD, and Hai Phong is the second with 925 million USD while Binh Duong ranks third with 565 million USD. It is suggested that to attract more FDI, Vietnam should focus on sectors where foreign firms having competitive advantages such as manufacturing, services, agriculture and travel.


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Nearly 4,000 billion VND to build coastal road in Thai Binh 

The investment project to build the sea route of Thai Binh province was built from 2018 to 2021 with the goal of connecting coastal traffic in the North has been approved by President Nguyen Xuan Phuc. Project aims to expand land fund for production investment, improve the efficiency of marine resource use, serve socio-economic development of localities which is going through routes of roads; facilitate the handling of rescue and disaster rescue and disaster response, climate change and strengthen defense and security in the sea. The scope of the investment was built with a length of 35,5km built to a level 3 delta road; designed speed 80km/h. Total investment is 3,872 billion VND, government budget is 1,100 billion VND, local budget and other investments is 1,593 billion VND, BOT investment is 1,289 billion VND. The investor will build a waste station to pay back the capital to the investor who has invested in the construction of the project in accordance with the law.


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First mountain-climbing railway route to open in Vietnam

A train line connecting Sa Pa town and the Mount Fansipan cable car station will be put into operation on March 31. The “mountain-climbing railway route” is invested by Sun Group which has 2-km-long route with two tunnels and four viaducts allows trains to run at a maximum speed ò 10m/s and can serve 2,000 passengers per hour. It helps tourists reduce travel time to only 4 minutes instead of 20 minutes by cars on a rugged mountain road.

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Flamingo, VietinBank ink investment agreement

Flamingo Group and Viet Nam Bank for Industry and Trade (VietinBank)’s Phuc Yen branch has signed an investment contract for Flamingo Cat Ba Beach Resort project. Under the agreement, VietinBank is the only official investor to provide capital and financial products for Flamingo Cat Ba Beach Resort, with a total credit of VND1.5 trillion (US$66 million). Nguyen Van Truong, director of Vietinbank Phuc Yen, emphasised that the signing between the bank and the Flamingo Group show their desire to further develop the relationship between the two sides, which is evidenced by formal co-operation agreements to implement projects in future. Located on a 7.8ha area, Flamingo Cat Ba Beach Resort owns 756 villas and has a total investment of VND3 trillion. The project is scheduled to be completed by the end of 2019.  

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VinCommerce to be split soon
The Saigon Times
Vingroup JSC will split VinCommerce into two separate retail units called VinCommerce and VinPro, the board chairman of Vingroup said last week in an announcement sent to the stock exchange. In the document posted at the website of the State Securities Commission of Vietnam and the HCM Stock Exchange, Vingroup said that following the split, VinPro would be in charge of electronics stores while VinCommerce will operate other retail store chains. VinPro will be established with chartered capital of VND500 billion, of which Vingroup owns 42.63%, or nearly a 21.3 million shares transferred from VinCommerce. Prior to the separation, VinCommerce had been operating electronics chain VinPro, the supermarket chain VinMart, the convenience store chain VinMart+ and the e-commerce website https://www.adayroi.com. The VinPro retail chain currently has 33 supermarkets nationwide while VinMart has 65 stores and VinMart+ owns some 1,000 stores. 
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Affordable apartments in HCMC in short supply

Most housing projects for sale in HCMC during 12/2017 – 2/2018 is the mid-range one with price over 1.5 billion VND. Major developers of affordable housing have not launched any new apartment since mid-2017. Apartments for sale in the market usually price over 2 billion VND. The shortage of affordable housing is mainly due to rising material prices and land scarcity. Furthermore, the minimum area requirement capped by municipal government is 45 meters, and this also contributes to the shortage. As 23% of residents is low-income people, the government should consider allowing small units in area with good infrastructure. Moreover, preferential credit policy for social housing investors is of vital importance to reduce the prices in the long term. 


Over 8,000 enterprises established in March

As many as 8,082 enterprises were established in March with total registered capital of nearly 81.16 trillion (3.57 billion USD), reported the Ministry of Planning and Investment (MoPI). The figures represent a rise of 2.8 percent in the number of enterprises and an 18 percent drop in the registered capital compared with February. On average, the registered capital of individual businesses decreased by 20.3 percent to 10 billion (440,000 USD). The number of registered labour for the new businesses in the reviewed period saw a modest decline of three percent to 68,979. Average registered capital in each enterprise established in the first quarter was 10.4 billion VND, a year-on-year increase of 1.5 percent. The number of workers employed in newly established enterprises was 225,389 people, down 22.7 percent from the same period last year. A total of 8,449 enterprises resumed operations in the first three months, while 8,115 ceased operations or were awaiting dissolution and 3,321 others completed dissolution procedures. 

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