Home   »   Property News   »   CBRE Vietnam Real Estate Spotlight – W2 2018
CBRE Vietnam Real Estate Spotlight – W2 2018

Ministry of Finance (MoF) withdraws the proposal for imposing VAT on transfering Land Use Rights, Cat Linh-Hadong metro line to come into commercial operation in 2018, HCMC seeks more funds for metro lines 1, 2…

 

 

Ministry of Finance (MoF) withdraws the proposal for imposing VAT on transfering Land Use Rights
Tien Phong

Previously, in the draft amendment, the Ministry of Finance proposed to put the act of transfering red book in the group subject to VAT. After meeting with many opinions, especially from the real estate associations, they has officially rejected VAT tax upon the transfer of land use rights (red book). Transfering of land use rights not subject to VAT is appropriate, because the land use fee for housing projects is a state budget revenue that the project owner has paid is similar to a tax.

 

Back to top

 

Preferential policies designed for Da Nang hi-tech park
Vietnamnet

The city will receive many preferential policies such as: central budget to implement projects, ODA to build technology and infrastructure, as well as many policies in tax, land use, ground clearance, and credit for firms in the park. Specifically, along with land use tax exemption for specific cases, the decree also gives preferential corporate income tax of 10 percent in 15 years for new projects in the park. Projects with capital from 3 trillion VND will enjoy a tax rate of 10 percent in 30 years.
 

Back to top

 

Hanoi to develop additional 11 million sm of housing in 2018
Vietnamnet

According to Deputy Director of the municipal Department of Construction Nguyen Chi Dung, the city built more than 11 million sm of new housing last year, including nearly 60,700 sm of social houses, 164,600 sm of resettlement houses and over 2.5 million sq.m of commercial houses. Hanoi sets a target of developing additional 11 million sm of housing in 2018, including 430,000 sm of social housing, nearly 348,000 sq.m of resettlement housing and more than 2.1 million sm of commercial housing. Currently, the city is branching out social housing projects in Tien Duong commune (Dong Anh district), Co Bi commune (Gia Lam district), Ngoc Hoi commune (Thanh Tri district) and Co Nhue ward (Bac Tu Liem district).
 

 

Cat Linh-Hadong metro line to come into commercial operation in 2018
Vietnam Investment Review

The Cat Linh-Hadong Metro Line, Hanoi's first urban railway project, will have to begin commercial operation this year thanks to the disbursement of an additional loan of $250.6 million from Export-Import Bank of China (China Eximbank). The 13-kilometre Cat Linh-Hadong elevated railway will have 12 stations and a depot linking Dong Da district’s Cat Linh Street and Hadong district’s Yen Nghia Bus Station. Once completed, the trains will transport up to 2,110 passengers at an average speed of 35 and a maximum of 80 kilometres per hour.

 

 

Back to top

 

EIB provides US$ 171 million for Hanoi metro line 3
Hanoi Times

The European Investment Bank (EIB) has decided to provide Hanoi a fund of Euro 143 million (US$171 million) to develop the city’s metro line 3 which is some 12.5 kilometer length. The 12.5km-length metro project has total investment capital of Euro1.2 billion (US$1.4 billion) with 12 new stations, connecting Nhon area and Hanoi Station. The line is one of four priority metro lines planned for the capital's metropolitan area, which will ease traffic congestion and reduce emissions. 

Back to top

 

 

HCMC seeks more funds for metro lines 1, 2
Vietnamnet

HCMC have proposed increasing capitalisation for the city’s first two metro lines as the projects continue to face a capital shortage. Before that,  the city People’s Committee approved a design by a local consulting firm in 2010 with a total investment of $1.37 billion. Two years later, IC, a consortium from Germany chosen as the international consulting firm, revised the detailed design of the project with a total investment of $2.1 billion. According to the Ministry of Transport, Ministry of Planning and Investment and the State Bank of Viet Nam, metro line No 2 can be approved by the city authority but comments from the PM are needed before implementation.

Back to top

 

HCMC invests on the Rach Chiec Sports Complex, Thu Thiem Art Center
Vietnambiz

HCMC has issued a series of announcements on the location, scope, design options, investment plans related to the social and cultural projects in the area such as the City Theater project; Performing Arts Center in Thu Thiem; Rach Chiec Sport Complex; Phan Dinh Phung Sport Center and circus and multipurpose performance Phu Tho.
 

Back to top

 

Hanoi: VND5,300 billion to build Mai Dich – Nam Thang Long Bridge
Cafeland

Project Management Thang Long (Ministry of Transport) has officially implemented the construction project of Mai Dien Bridge – Nam Thang Long, Ring Road III Hanoi. The total length of the bridge is 4,831km, including the span of Super-T beams 4,426.60m and the structural span of steel beams 404.4m. In terms of scale, the project is designed four lanes standard highway, each lanes is 3.75m wide; two emergency stops, two inner safety belts, a separator between … ensure the cars run at speed of 100km/h. The project of constructing Mai Dien – Nam Thang Long bridge will have a total investment of over VND5,300 billion, using ODA from Japan and domestic reciprocal capital. The construction period is expected to be 28 months.

Back to top

 

Five-star resort planned on Cat Ba Island
Vietnamplus

The first five-star resort and entertainment complex on Cat Ba Island, Hai Phong city, promises to change the local tourism and economy. The villas will be sold from 3 billion VND (139,000 USD) and enjoy a zero percent interest rate in the first 10 months from Vietcombank, with total lending pegged at 60 percent of the total value and will be given out over 15 years. The resort will provide a conference centre, an entertainment area specialized for tourists, cinemas, children’s play area, cuisine area, four-season swimming pools and a fitness centre.
        
 

Back to top

 

Hai Phong plans 4 big transport projects
Vietnam Investment Review

The northern port city of Hai Phong plans to implement four main transport projects in the period 2016-20, FDI totalling nearly US$500 million. The four projects include construction work on the subway from Nguyen Binh Khiem Road to Vu Yen Island, the Ho Sen Cau Rao 2-Nguyen Van Linh intersection, the Hai Thanh Bridge and the Ben Lam Bridge. The biggest project is the Ben Lam Bridge, connecting two districts of Hong Bang and Thuy Nguyen. The bridge will be 1,300m in length and have 10 lanes. The cost of the project is estimated at $160 million.         

Back to top

 

Phu Quoc to get six-star resort by 2020
Bizhub

Regent Residences Phu Quoc will be the first six-star resort in Phu Quoc Island and will be completed by 2020, according to the project’s developer BIM Group. Regent Residences Phu Quoc, worth VND2 trillion (US$87.7 million), is another addition to a line-up of projects, for which Vietnamese developer BIM Group has joined hands with other global brands to develop. The project is in elegant Vietnamese architecture in harmony with a modern Western style, promises a luxurious holiday experience to tourists.
        

Back to top

 

CBRE Newspaper Updates on Residential Ads

       

  • One new launch

    • Kingdom 101 (District 10)

      • Total units: 1000 (for condos only)
      • Scale: three 30-floor blocks
      • Unit size: 48 – 102 sm (1 – 3 bedrooms)
      • Price*: from VND 50 million/sm
  • Advertisements:
  • Calla Garden (Binh Chanh District)

    • Total units: 207 (for condos only)
    • Scale: two 17-floor blocks
    • Unit size: 50 – 107 sm (1 – 3 bedrooms)
    • Price*: from VND 18.5 million/sm
  • Thu Thiem Dragon (District 2)
  • Total units: 274 (for condos only)
  • Scale: two 23-floor blocks 
  • Unit size: 45.2 – 93 sm (1 – 3 bedrooms)
  • Price*: from VND 2.2 billion/2BRs
  • Total units: 2000 (for condos only)
  • Scale: six 25-floor blocks 
  • Unit size: 56 – 75.12 sm (2 – 3 bedrooms)
  • Price*: from VND 1.1 billion/2BRs
  • Dream Home Riverside (District 8)

* Prices included VAT

       

  • One new launched

    • Hinode City (Hai Ba Trung district)

      • Total units: 1,099 units
      • Scale: 31,246 sm land area
      • Unit size: 76 – 128 sm (2 – 4 bedrooms)
      • Price*: from VND 40 million psm
  • Advertisement
  • Seasons Avenue (Ha Dong district)

    • Total units: 1,300 units
    • Scale: 13,651 sm land area
    • Unit size: 67 – 107 sm (2 – 3 bedrooms)
    • Price*: from VND 26 million psm
  • D’. Le Roi Soleil (Tay Ho district)
  • Total units: 498 units
  • Scale: 9,185 sm land area
  • Unit size: 109.2 – 344.5 sm (2 – 3 bedrooms)
  • Price*: from VND 68 million psm
  • Total units: 480 units
  • Scale: 14,310 sm land area
  • Unit size: 75 – 125 sm (2 – 3 bedrooms)
  • Price*: from VND 23.5 million psm
  • Florence (Nam Tu Liem district)

* 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

Back to top

 

 

 

 

 

 

 

 

 

 

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

 

 

CBRE | CB RICHARD ELLIS