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CBRE Vietnam Real Estate Spotlight – W22 2019

Vietnam’s Eastern North-South expressway set for kick-start next April, Underground car park projects still on paper, HCMC's five-month foreign investment surges 49 pct…

  • One new launched (update on May 2019)

    • UDIC Westlake (Tay Ho District)                              

      • Total units: 416 units
      • Scale: 77,281 sqm
      • Unit size: 84 – 168 sqm (2 – 4 bedrooms)                                  
      • Price*: from VND36 million per sqm
    • D’. El Dorado (Tay Ho District)                              
    • Total units: 448 units
    • Scale: 3,184 sqm land area                                                              
    • Unit size: 38 – 152 sqm (1- 4 bedrooms)                                  
    • Price*: from VND 45 million psqm
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  • Stella Garden (Thanh Xuan District)                              

    • Total units: 368 units
    • Scale: 6,822 sqm
    • Unit size: 91.2 – 151 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND30 million per sqm
  • Starlake (Tay Ho District)                              
  • Total units: 603 units
  • Scale: 24,775 sqm
  • Unit size: 91 – 154 sqm (2- 4  bedrooms)                                  
  • Price*: from VND 60 million per sqm

* Prices included VAT

  • No New Launch                  
  • Advertisement:                                            

    • Signial (District 7)                                               

      • Developer: An Gia Corp & Creed Group
      • Total units: 1,150 units 
      • Scale:  63,000 sqm land area
      • Unit size: 39 – 40 sqm (1 bedroom)                                                                
      • Price*:   from VND1.2 billion/ unit (recorded on Tuoitre newspaper posted on May10) 

* 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, Tuoitre, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, VnExpress



















Dung Duong MRICS

Senior Director

T +84 286 284 7668


An Nguyen

T +84 24 2220 0220






Vietnam province set to clear seaside hotels blocking public beach

In a praiseworthy effort to restore the natural beauty of its coastline and reserve public areas for the people, the administration of Binh Dinh Province in south-central Vietnam is poised to relocate three major seaside hotels that block the view of a popular beach. The three hotels up for relocation – Hai Au, Hoang Yen and Binh Duong – are located on An Duong Vuong Street in the provincial capital of Quy Nhon.




Inside China’s state-owned industrial park in Vietnam, Beijing’s image trumps trade war profits

China-Vietnam (Shenzhen-Haiphong) Economic and Trade Cooperation Zone is only Chinese state-owned industrial park in Vietnam,a total of 16 of the 21 Chinese companies that have relocated after the start of the US-China trade war. Venture has attracted increasing interest since start of US-China trade war, but operators say first duty is to support Xi Jinping’s trade initiative.



Vietnam metro projects costs overrun by $3.5 billion


Vietnam’s five metro projects have seen their costs balloon by VND81 trillion (US$3.5 billion) following long delays. Ho Chi Minh City’s first line from Ben Thanh to Suoi Tien has seen the highest rise of VND29.9 trillion (US$1.3 billion). The second line between Ben Thanh and Tham Luong has become VND21.8 trillion (US$932 million) costlier. Hanoi’s second line between Nhon and Hanoi Railway Station is third with VND14.5 trillion (US$620 million).
The ministry blamed the increases on consultants’ lack of experience in estimating cost. Besides, the projects have been delayed due to tardy payment to their foreign contractors, and inflation has seen to the rest, it said.




Van Don airport welcomes first flight from Republic of Korea
The Van Don International Airport was officially put into operation in December 2018. It has become the first Vietnamese airport listed among the top five airports with the highest points for quality services in the first quarter of the year, according to a survey by the Airport Performance Measurement Programme. The first plane from the Republic of Korea to Quang Ninh landed at Van Don International Airport on June 6 morning to the northern coastal province. The airport is expected to have an annual capacity of 2-2.5 million passengers by 2020, which will increase to 5 million by 2030.




HCMC's five-month foreign investment surges 49 pct

HCMC has attracted US$2.77 billion in foreign direct investment from January until May, up 49 percent year-on-year. Real estate also topped the chart in stake acquisition at 23.7 percent, followed by retail at 18.7 percent and science and technology at 14.7 percent. At an investment conference last month, the southern metropolis called for US$53.8 billion in FDI for 210 projects with particular focus on transport infrastructure.




Ho Chi Minh City ramps up real estate
In an effort to become more attractive to investors and feature more modern infrastructure, HCMC is intensifying development of its urban real estate market and offering a list of major projects which desire investment, with some already attracting interest from foreign investors




HCM City seeks investors for nine plots in Thu Thiem


HCMC will organise an auction to seek investors for the right to use nine land plots in the Thu Thiem new urban area in District 2. The nine land plots include six plots planned to have 10 to 15 floors of multi-functional residential area and three land plots planned to have 30 to 50 floors of multi-functional commercial area. The city’s Department of Transport has issued a decision on approving the investment projects for technical infrastructure for the nine land plots




Underground car park projects still on paper

HCMC has yet to construct any underground parking lots, though it has planned to build more than 10 of them in the last 15 years and have approved four so far. Trong Dong outdoor stage and Le Van Tam Park which have been suspended. Two other underground parking lot projects — one at Hoa Lu Stadium and the other at Tao Dan Park — have yet to be executed as well though they have been planned for years.




Da Nang airport to have new Terminal

Da Nang will build a new terminal, T3, at its international airport with total investment of VND 9 trillion (US$391 million), increasing the airport’s capacity to 28 million passengers and 200,000 tonnes of cargo by 2030. The T3 will help Vietnam’s third largest airport ease congestion in the near future, while promoting connections in trade, investment and tourism in key central economic zones among Hue-Da Nang-Quang Nam and Quang Ngai.





Vietnam’s Eastern North-South expressway set for kick-start next April

The Eastern North-South expressway project under the public-private partnership (PPP) format are scheduled for construction in April 2020, according to the Ministry of Transport (MoT) includes 11 sub-projects with total length of 654 kilometers running through 13 provinces and cities, of which three will be financed by state budget and eight under the PPP and build-operate-transfer (BOT) financing. The MoT would open international bidding for the project. So far 24 domestic investors, six from China, two Japanese, one French and one South Korean have expressed interesting bidding.