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CBRE Vietnam Real Estate Spotlight – W31 – 2020

State Bank of Vietnam cuts some interest rates, Vietnamese consumers became the most avid savers globally, COVID-19 takes a toll on listed firms’ profits…

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    • TSG Lotus Long Bien ( Long Bien District)

      • Total units: 328 units                        
      • Scale: 3.898 sm land area
      • Unit size: 71- 113sqm (1 – 3 bedrooms) & 198 -219 sqm (penthouse) & 376- 405 sqm (duplex)
      • Price*: from VND 25 million psm
    • Sunshine Garden – Hai Ba Trung District              

      • Total units: 1,278 units
      • Scale: 12,810 sqm                                                  
      • Unit size: 51.45 – 153.06 sm (1 – 3 bedrooms)                                 
      • Price*: from VND30 million psm
    • Athena Complex Phap Van – Hoang Mai District

      • Total units: 400 units
      • Scale: 6,088 sqm    
      • Unit size: 65.5 – 92 sm (2 – 3 bedrooms)  
      • Price*: from VND21 million psm    

* Prices included VAT

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    • The River Thu Thiem (District 2)

      • Unit size: 57 – 185 sqm (1 – 4 bedrooms)       
      • Total units: 525 units                                                            
      • Developer: Refico

* 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

State Bank of Vietnam cuts some interest rates
The State Bank of Vietnam (SBV) on August 6 announced its decision on cutting some policy rates with immediate effect, the second time this year following the adjustment on March 16. Accordingly, the interest rate of compulsory reserves in VND at banks will be 0.5 percent per annum, and the interest rate on dong deposits from banks that exceed the minimum 3 percent requirement will be zero percent per annum, down 0.5 percent compared to the rates stipulated in a decision on March 16 this year.
Vietnamese consumers became the most avid savers globally
Vietnam topped the world in terms of having the most avid savers with 72 per cent, followed by Hong Kong (68 per cent) and Singapore (65 per cent), according to the Conference Board Global Consumer Confidence Survey released this week. The survey done in collaboration with global measurement company Nielsen found Asia Pacific consumers leading the way globally in saving intentions.
COVID-19 takes a toll on listed firms’ profits
Listed companies’ second quarter profits fell on average by 14.4 percent year-on-year, with tourism and oil being the worst hit. The revenues of 826 companies that have published their results so far and account for 94 percent of the total market capitalization of the country’s three exchanges, fell 16.5 percent, according to a report by stock brokerage VNDirect. The tourism and aviation sectors together saw the biggest fall in profits of 494.8 percent as international flights are banned and major tourist hotspots were closed for three weeks at the beginning of the quarter.
Real estate companies top worker layoff list amid COVID-19 woes
Vietnam exported goods worth a total US$145.8 billion in the first seven months of 2020, up by a slight 0.2% compared with the same period in 2019, according to the General Statistics Office. Meanwhile, imports fell by 2.9% to US$139.3 billion, meaning Vietnam posted a trade surplus of US$6.5 billion during the period. Domestic companies’ exports recorded strong growth at 13.5% to reach US$50.8 billion while exports by foreign-invested firms declined by 5.7% to US$95 billion, including oil revenue. Imports by domestic companies rose 1.5% while those in the foreign sector fell 6.2%.
Top 10 most valuable brands worth 8.1 billion USD
The top 10 most valuable brands in Vietnam 2020 are worth US$8.1 billion, increasing by 17 percent from last year and accounting for 30 percent of the list’s total value, according to Forbes Vietnam magazine. The rest of the top 10 are brewer Sabeco, real estate corporation Vinhomes, telecom MobiFone, food group Masan Consumer, State-owned Vietcombank, IT giant FPT, and mall operator Vincom Retail. 
The ranking was classified by industry. Most of the companies have operating time of more than 10 years. The food and beverage and financial services industries continue to dominate the list with nine representatives each. They were followed by real estate, IT, and retail.
PM urges Tien Giang to complete Trung Luong – My Thuan expressway
PM Phuc requested authorities of the Mekong Delta Province of Tien Giang and the main contractor of expressway project to open to traffic this year as per schedule and the whole project must be finished by 2021. All related bodies must think about measures to speed up the project. Simultaneously, the PM ordered Tien Giang authorities and the Ministry of Transport to re-assess people’s travel demand in Tet holiday ( the Lunar New Year) 2021 from which investor and contractor must re-route temporary line for travelling in the expressway in case that traffic congestion happen in the National Highway 1A.
$213mn bridge to tap into southern Vietnam port’s potential
The bridge, named Phuoc An, is projected to serve as an important link between Cai Mep – Thi Vai International Port in Ba Ria-Vung Tau and Ben Luc – Long Thanh Expressway, which connects Long An Province in the Mekong Delta with southern Dong Nai Province and is part of a planned national north-to-south expressway. The bridge is expected to measure 3.5 kilometers in length, with a vertical clearance that allows ships with a tonnage of up to 30,000 metric tons to pass through, and include a total of 848 meters of linked roads.
Ministry of Construction eyes building low-cost housing
The Ministry of Construction (MoC) is completing a draft resolution to encourage the development of low-cost commercial apartments to submit to the Government in the third quarter of this year. The move aims to help the real estate market recover in the “new normal” context, said Deputy Minister of Construction Nguyen Van Sinh. The low-cost commercial apartments would have self-contained designs with an area of less than 70sqm and selling price of under VND20 million per sqm, The maximum value of an apartment must not exceed VND1.5 billion (including VAT).



















Dung Duong MRICS

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An Nguyen

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