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CBRE Vietnam Real Estate Spotlight – W32 – 2020

Vietnam tourism floored again by Covid-19 pandemic, IFC provides $70m financing to Vietnamese logistics firm ITL, Vietnam looks to raise exports to US$340 billion by 2025…

  • One New Launched

    • Rose Town (Hoang Mai District)

      • Total units: 822 units                        
      • Unit size: 67.5 – 86.9 sqm (1-3 bedrooms)                           
      • Price*: from VND 26 million psm
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    • Grandeur Palace Giang Vo – Ba Dinh District                            

      • Total units: 72                                          
      • Unit size: 77.6 – 153.8 sm (2 – 3 bedrooms)       
      • Price*: from VND80 million psm     
    • Imperia Smart City (Nam Tu Liem District)

      • Total units: 699 units                        
      • Unit size: 30.5 – 76.2 sqm (1 – 3 bedrooms)                            
      • Price*: from VND 38 million psm
    • The Terra – An Hung (Ha Dong District)

      • Total units: 1,320 units                        
      • Unit size: 74.3 – 140.8 sqm (1 – 4 bedrooms)
      • Price*: from VND 23 million psm

* Prices included VAT

  • No New Launch
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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

Vietnam tourism floored again by Covid-19 pandemic
Travel agencies banking on domestic tourism to stage a recovery have been knocked down yet again by the Covid-19 comeback, with rising infections and deaths. Nearly 10,000 customers of Hanoi Redtours have canceled or delayed their travel plans for the rest of the year after Vietnam started recording daily double digit increases in Covid-19 cases in August, said Nguyen Cong Hoan, deputy director of the company.
Ministry of Finance: road use fees reduced by 10-30%
Accordingly, from August 10, 2020 to the end of December 31, 2020, passenger cars and public passenger buses will only pay charges equal to 70% of the toll rates specified at Points 1, 2, 3, 4 and 5, Section 1 of the Schedule of road use fees issued together with Circular No.293/2016/TT-BTC. For trucks, special-use cars and tractors, the charge is only equal to 90% of the rates specified at Points 2, 3, 4, 5, 6, 7 and 8, Section 1 of the Schedule of road use fees issued together with Circular No.293/2016/TT-BTC.
120,000 people to lose HCMC jobs amid fresh COVID-19 outbreak
Around 120,000 employees of 4,000 businesses in HCMC are likely to be laid off from now until September with the resurgence of Covid-19 community transmissions. The majority of these employees work in the tourism and accommodation sectors, construction, transportation and textiles and footwear companies, said Le Minh Tan, director of the municipal Department of Labor, Invalids and Social Affairs.
Creed Group steering away from An Gia role
Despite being the long-term strategic partner and biggest shareholder, Japan’s Creed Group last week announced it was letting go of millions of shares from An Gia Real Estate Investment and Development Corporation after five years in partnership. Creed Investment VN-1 Ltd., belonging to Creed Group, registered to sell more than 3.7 million An Gia shares before September 9. The group’s move to divest its investment despite being a strategic shareholder has surprised the market.
IFC provides $70m financing to Vietnamese logistics firm ITL 
The International Finance Corporation (IFC), part of the World Bank Group, is making its first investment into Vietnam's logistics sector. The lender will provide a $70 million financial package to Indo Trans Logistics Corporation (ITL), it said in a statement on Tuesday. The package is an attempt to support Vietnam's logistics sector and enhance the country's economic competitiveness amid the turmoil caused by COVID-19.
LOGOS eyes raising $1.2b logistics ventures in Vietnam, South Korea
ARA Asset Management-backed logistics real estate group LOGOS Property is raising $1.2 billion for a foray into Vietnam and South Korea, according to a top executive of the firm. The Sydney-headquartered firm is seeking $400 million for a Vietnam vehicle and another $800 million for South Korea for its build-to-core strategy. The development was first reported by PERE on Thursday. Trent Iliffe, managing director and co-CEO of LOGOS, confirmed the plan to DealStreetAsia.
Lower interest rates not a good thing for equity market
Lower lending rates in the financial-banking market may not mean good things for the securities market, specialist Dao Phuc Tuong said on Wednesday. Lower saving rates hit money savers first because their savings are not as profitable as they were, then purchasing power declines, Tuong, former investment manager at APS Asset Management, said. Lower interest rates pull the rates of government bonds down and the risk premium has to increase, he added. For example, in the past 10 years, the US government bond rates have fallen too much while the US market’s risk premium has kept increasing, he said.
Vietnam looks to raise exports to US$340 billion by 2025
Vietnam is aiming to increase its exports revenue to US$340 billion by 2020, as per a report on socio-economic development for the 2021-2025 period compiled by the Ministry of Industry and Trade (MOIT). With such a target, exports should grow by an annual average of 5%. The MOIT expects Vietnamese exports to the European and American markets to expand by 7-10% per year. In 2025 Vietnam is also expected to import US$330 billion worth of goods, with import growth averaging at 4.9% annually over the next five years.




















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