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CBRE Vietnam Real Estate Spotlight – W19 2018

The progress of four roads in Thu Thiem New Urban Area, Vinhomes Is Said Poised to Price $1.35 Billion Share Sale at Top, Vietnam fifth biggest remittance recipient in Asia-Pacific: report…

CBRE Newspaper Updates on Residential Ads


  • One new launched:

    • Bohemia Residence (Thanh Xuan district)

      • Total units: 232 units
      • Scale: 3,050 sm land area
      • Unit size: 85 – 136 sm (2 – 3 bedrooms) 
      • Price*: from VND 26.1 million psm
  • Advertisement:
  • Anland Complex (Ha Dong district)

    • Total units: 500 units
    • Scale: 7,052 sm land area
    • Unit size: 54 – 91 sm (2 – 3 bedrooms)
    • Price*: from VND 25 million psm
  • Kosmo Tay Ho (Tay Ho District)
  • Total units: 648 units
  • Scale: 10.895 sm land area
  • Unit size: 74-181 sm (2- 4 bedrooms)
  • Price*: from VND 32 million psm  
  • Total Units: 504 units
  • Scale: 28.765 sm land area
  • Unit size: 71.48 – 139.73 sm (2-3 bedrooms)
  • Price*: from VND 31 million psm
  • Green Pearl (Hai Ba Trung District)

          Prices included VAT


  • New Launched:

    • Fresca Riverside (Thu Duc District)

      • Developer: Seaholding
      • Property type: Condo
      • Total units: 398
      • Unit size: 49 – 75.7 sm (2 – 3 bedrooms)
  • Advertisement:
  • La Cosmo Residence (Tan Binh District)

    • Developer: An Gia Hung
    • Total units: 917 units (condos)
    • Scale: two 25- floor blocks
    • Unit size: 76- 126 sm ( 1- 3 bedrooms)
  • South Gate Tower (District 7)
  • Developer: Hong Ha
  • Total units: 350 units (condos only)
  • Scale: two 29-floor blocks
  • Unit size: 53 – 119 sm (1 – 3 bedrooms)

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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Frasers Property to acquire Phu An Khang for $18 million 

Frasers Property recently announced that its indirect wholly-owned subsidiary Frasers Property Investments (Vietnam) 1 Pte., Ltd. (FPIV1) has entered into a conditional share purchase agreement with Tran Thai Land Company Limited to acquire 24 million ordinary shares. These shares represent 75% of the issued share capital of Phu An Khang Real Estate JSC.  

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Vinhomes Is Said Poised to Price $1.35 Billion Share Sale at Top

Vinhomes JSC, is poised to price its $1.35 billion initial equity offering at the top end of a marketed range. Existing Vinhomes investors plan to sell shares at 114,700 dong apiece in the offering. The shares were marketed at VND110,500 to VND114,700 each. Vinhomes’s offering is set to become the largest-ever share sale in the Southeast Asian nation, surpassing the $922 million deal from Techcombank last month. Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG and Morgan Stanley are leading the deal. 

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Vietnam fifth biggest remittance recipient in Asia-Pacific: report
Tuoitre News

Inward remittance flow to Vietnam approximated US$14 billion last year, IFAD, a specialized agency of the United Nations, said in the RemitSCOPE – remittance markets and opportunities – Asia and the Pacific report. The three largest remittance recipients in the region were India at $69 billion, China at $64 billion and the Philippines at $33 billion, according to the report. At $13,781 billion, Vietnam ranked fifth in the Asia Pacific region, and second across Southeast Asia. 

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Brokers oppose SAEZ provinces’ suspension of land transactions

Responding to heating up and increasingly complicated trading in the district which is home to one of the three special administrative-economic zones (SAEZs) in Vietnam, the Quang Ninh People’s Committee has stopped all kinds of land transactions (including conversion, transfer, lease, inheritance and mortgage) in Van Don at least until official information is released about the zone’s status after the national assembly session ending in June. Similar to Quang Ninh, the people’s committees of Khanh Hoa and Kien Giang have issued the same orders in North Van Phong and Phu Quoc. While acknowledging the need to prevent illegal trading, the Vietnam Association of Realtors (VARS) thought stopping all transactions was against the constitution, which allows all citizens to trade their assets. Moreover, the broker said this suspension would freeze the realty market, causing serious consequences not only to the district but also to the whole provinces for a long time.


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Ha Noi promotes auctions of land use rights 

Ha Noi plans to promote auctions of land use rights from now until 2020 to make effective use of land funds and meet the increasing demand of businesses and people. The move is expected to increase the local budget and create more capital sources for investment in building socio-technical infrastructure systems and implementing the national programme on developing new rural areas. According to the plan of the municipal People’s Committee, the city hopes to collect over VND53.5 trillion (US$2.3 billion) for the budget from auctioning 677.31ha of land in 2018-2020. In 2018, some 193.41ha of land will be auctioned, raking in more than VND13.7 trillion.

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More than US$4 billion to build a smart city near Nhat Tan Bridge

The project located in a 271.82 ha area in Hai Boi, and Vinh Ngoc Commune in Dong Anh District. Total registered capital is US$93,348 billion. Contributed capital is VND14,260 billion with 50% from Sumitomo and 50% left from Vietnamese investors. This project is a smart city using information technology to manage and operate the green city. The city center is the last stop of the urban railway No. 2. The project is divided into 5 parts, constructed by 5 companies. The first part will start in 2018 and complete in 2030, spanning over 73 ha area with investment of VND13,000 billion. The other parts will start after 2030.  

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Hanoi agree on the detailed plan of social housing in Dong Anh District

The project has an area of 44,72 ha with expected population of 12,500. The project is located near Highway 3 and Kim Quy Park. Particularly, the residential area is 166,614 sm, and 47,420 sm is for a preschool, a primary school, and a secondary high school, and the left area is for trees, parking, roads, and infrastructure. This plan is the further development of the N7 plan which has been approved. Main investors are Viglacera Corporation and Hoang Thanh Investment and Infrastructure Development JSC.

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Second tunnel of Ho Chi Minh City subway line nears completion
Tuoitre News

Located from 10 to 20 m underground, the second tunnel has done 470 m out of its total length of 781 m completed. About 10 m can be installed with concrete slabs every day. Construction of this tunnel began in January and might complete at the beginning of June. The tunnel runs from Ba Son Shipyard to the HCMC's Municipal Theater in District 1. 
The metro line No. 1 in HCMC, 19.7 km long, will connect Ben Thanh Market with Suoi Tien Park, passing through Binh Thanh District, Thu Duc District, and District 2. The metro line is mainly aboveground with two tunnels located in the city’s downtown area. The first tunnel, also connecting Ba Son Shipyard with the Municipal Theater, completed last year. The whole metro line is expected to complete in 2020.

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The progress of four roads in Thu Thiem New Urban Area

These four roads are constructed by Dai Quang Minh Real Estate JSC with estimated investment of 1,000 billion VND/km, five times higher than investment of Bac-Nam Expressway (180 billion VND/km), and four times higher than that of Ha Noi- Hai Phong Expressway (250 billion VND / km). These roads are named R1 (3.4 km long), R2 (3km long), R3 (3km long), and R4 (2.5 km long). To connect these four routes, investors construct 11 bridges, including two viaducts (1.8 km long), one steel bridge over the Sai Gon river tunnel with the length of 100 km, and a bridge over the central square. The project is scheduled to complete in Feb 2017, and then 30/4/2018, but haven’t completed until now due to delay in land clearance.   


Adjustments for the plan of Thu Thiem
Thanh Nien

After Decision 367 regarding Thu Thiem New Urban Area, local government in HCMC has changed planning multiple times, which lead to many complications after. Thu Thiem has an area of 930 ha in which the new urban area is 770 ha and resettlement area is 160 ha with population of 45,000. Through adjustments, local government abolished the administrative center of 18 ha, which lead to the eradication of historical Thuong Tho Palace, increased residential area from 55 ha to 112 ha, adjust the height of building from 100 to 86 floors. Accordingly, Thu Thiem might face inundation due to increasing concretization. Over 12,000 households has been re-located, and investment is up to VND30,000 billion, but Thu Thiem is still consisting of large empty land. 

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