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CBRE Vietnam Real Estate Spotlight – W34 – 2020

VIP quarantine: Vietnam luxury hotels double as isolation quarters, Vietnam goes big on green tours, Covid-19 hits remittances to Vietnam…

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    • The Nine (Bac Tu Liem District)                                 

      • Total units: 350 units     
      • Scale: 4,809 sqm                                                  
      • Unit size: 70 – 135 sqm (2 – 4 bedrooms)      
    • 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

* Prices included VAT

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* 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

VIP quarantine: Vietnam luxury hotels double as isolation quarters
With the coronavirus pandemic abruptly wiping out international guest bookings, luxury hotels in Vietnam increasingly provide lodging for foreigners under quarantine as a way to survive the crisis. Hotels find conversion into isolation facilities an attractive alternative because it guarantees that rooms will be occupied for 14 to 15 days. They can charge higher-than-usual rates for stays that include three meals a day.
Vietnam goes big on green tours
Vietnam National Administration of Tourism (VNAT) have joined hands with Vietnam Tourism Advisory Board (TAB) and Swiss Sustainable Tourism Programme (SSTP) to launch a new section on the national tourism website collating the country’s best sustainable tourism options. Users visiting the Green Travel section of the website will find articles dedicated to best practices for responsible travellers, guides on following Vietnamese customs and local etiquette, and pieces highlighting the country’s lesser-known destinations.
PM orders accelerating visa grant to foreign experts, investors
At a meeting with representatives from a number of ministries, agencies and localities, the Government leader proposed resuming commercial flights to certain countries with high Covid-19 safety indexes, stressing the need to seek all possible ways to support the national economy. He urged the Ministry of Finance to coordinate with the Ministry of Health in devising a plan on Covid-19 treatment fee collection.
Meanwhile, the Ministry of Foreign Affairs will continue to fly home Vietnamese stranded abroad, and bring foreign experts and investors to Vietnam in an appropriate and flexible manner. Great efforts are needed to prevent the spread of the pandemic, and the widespread closures of businesses, as well as unemployment at the same time, the PM emphasised, suggesting extending the social welfare package.
Covid-19 hits remittances to Vietnam
Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam’s HCMC Branch, said in the first seven months of the year total remittances to the city, usually the largest recipient in the country, were down 1.2 percent year-on-year to US$3 billion. Vietnam has been among the top 10 recipients in the world for the last three years. Last year its remittances topped $16.7 billion, of which $5.3 billion came to HCMC. Money transfer companies said in the first two quarters the strongest drops in remittances to the city were from Vietnam’s key labour markets such as Japan, Taiwan and the Republic of Korea, and other key countries such as the US, UK and Canada.
Red River Delta to be logistics centre of the country 
Investment attraction in North Vietnam over the next five years will focus on infrastructure and logistics development in order to enable the Red River Delta region to become a key logistics centre for the country, as well as to draw more international investment into the region. The region, with Hanoi as the centrepiece, is the hub of politics, culture, and the economy, with Hanoi-Haiphong-Quang Ninh as a development triangle connecting to other economic areas in both the country and overseas. The Red River Delta is also a location where factories of leading manufacturers such as Samsung, LG, Panasonic, and VinFast are based. As a result, developing seaports, logistics, and more in the region is a strategic priority.
Vietnam will strive to keep positive GDP growth: PM
Vietnam will make all efforts to register positive GDP growth this year despite adverse COVID-19 impacts, Prime Minister Nguyen Xuan Phuc said Friday. While the government is determined to ensure people’s health, it will also try to foster economic growth by providing support packages to businesses and residents, he said at a meeting. "We need to review and make appropriate adjustments to economic and social goals amid the new normal, such as GDP growth and GDP per capita," he said. Vietnam’s GDP growth in the second quarter fell to a 30-year low of 0.36 percent after the government imposed a nationwide social distancing campaign in April to curb the spread of the novel coronavirus.
Despite combined growth, revenues of casinos in Vietnam see downward trend
Several casinos in Vietnam have reported shrinking revenues despite their integrated turnover doubling over the last three years. According to a recent report submitted by the Ministry of Finance to the prime minister, eight operational casinos out of Vietnam’s 12 licensed ones doubled their combined revenue from 2017 to 2019.
Uniqlo to add two stores in Hanoi
Japanese casual wear retailer Uniqlo will open two more stores at major shopping malls in fall/winter in Hanoi, the company said this week. The two stores will be located at Vincom Center Metropolis and Aeon Mall Long Bien, Uniqlo said on Monday. Both are prime locations in Hanoi, promising to expand the brand in Vietnam with the LifeWear apparel. Osamu Ikezoe, general director and chief operating officer of UNIQLO Vietnam, said that its products can meet the daily needs of the people in the Vietnamese capital. “Opening the two stores is the next step in Uniqlo’s plan in Vietnam,” he added.



















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