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CBRE Vietnam Real Estate Spotlight – W38 – 2020

High-profile real estate projects on sale in HCMC amidst COVID-19, Vietnam needs to compete for Covid-19 FDI shift, Foreign firms major contributors to Vietnam local budgets, Vietnam’s corporate bonds surge despite COVID-19: ADB…

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    • Hatay Millenium – Ha Dong District
    • Total units: 683 units                        

      • Scale: 5,480 sqm
      • Unit size: 45 – 90 sqm (1 – 3 bedrooms)
      • Price*: from VND 25 million psm
    • Roman Plaza – Nam Tu Liem District
    • Total units: 804 units                         
    • Scale: 35,889 sqm
    • Unit size: 68 – 138 sqm (2-3 bedrooms, and duplex)                                 
    • Price*: from VND26 million per sqm
    • Total units: 904 units  
    • Unit size: 35.6 – 139.1 sqm (1 – 4 bedrooms)                                
    • Price*: from VND53 million per sqm
    • Vinhomes West Point – Nam Tu Liem District                      

* 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

High-profile real estate projects on sale in HCMC amidst COVID-19
Tuoitre
The novel coronavirus disease (COVID-19) has taken a toll on the real estate market in Ho Chi Minh City as many realty projects have been put up for sale, including those costing millions of dollars. Collateral such as apartment projects, schools, homes, cars, and wedding reception venues are being sold by local banks, as the negative impact of the COVID-19 pandemic has resulted in a surge in bad debts. The Saigon One Tower, located at the Ton Duc Thang-Ham Nghi Intersection in downtown District 1, is among the realty projects that have been put on sale. Initiated in 2007, the US$265 million project was expected to be complete within two years and become a complex of apartments and offices with high-end commercial services as well as the largest outdoor bar in Vietnam.
Vietnam needs to compete for Covid-19 FDI shift
VnExpress
Simpler tax procedures and better infrastructure will help Vietnam compete for foreign investment amid supply chain shifts triggered by the Covid-19 pandemic, foreign experts say. South Korean businesses are leaving China and Vietnam is among the new destinations they are considering, Hong Sun, deputy chairman of the Korea Chamber of Commerce in Vietnam (KoCham) said at a recent meeting on attracting foreign direct investment to Vietnam.
Foreign firms major contributors to Vietnam local budgets
VnExpress
Budget collection from foreign direct investment companies accounts for over 50 percent of the total in several Vietnamese localities, a report says. The ratio was as high as 93.5 percent and 72 percent respectively in the northern provinces of Vinh Phuc and Bac Ninh in the 2011-2019 period, according to a report compiled by the Ministry of Planning and Investment.
Vietnam’s corporate bonds surge despite COVID-19: ADB
Nhandan
Vietnam’s corporate bonds surged by 65.6% quarter-on-quarter to reach US$8 billion in the second quarter, despite the impacts of COVID-19, according to the Asian Development Bank (ADB). In the latest issue of the ADB’s Asia Bond Monitor, the lender said that improving global investment sentiment and financial conditions provided a much-needed lift for local currency bond markets in emerging East Asia, including Vietnam, despite risks from the coronavirus pandemic.
Vietnam’s credit growth estimated at 4.81%: central bank
Nhandan
Vietnam’s outstanding loans as of mid-September grew by 4.81% compared with the end of 2019 while M2 money supply rose by 7.58%, as announced by the State Bank of Vietnam (SBV) at a press conference on September 22. Since the start of the year, the central bank has cut interest rates by 1 to 1.5 percentage points in order to support banks’ liquidity and make loans cheaper for businesses. The short-term lending rate for priority sectors currently stands at around 5%, which is low compared with other countries with similar conditions to Vietnam, said Pham Chi Quang, deputy head of the SBV’s monetary policy department. With regards to exchange rate regulation, despite some periods of volatility due to the coronavirus pandemic, stability in the foreign exchange market has been maintained.
Vietnam Airlines opens ticket sale for return trip from S. Korea
Tuoitre
National flag carrier Vietnam Airlines on Wednesday began selling tickets for the first commercial international flight returning to Vietnam from South Korea, after a six-month suspension due to COVID-19. The flight is slated to depart Seoul for Hanoi on Friday, using an Airbus A350 with a capacity of over 300 passengers. Tickets are not available for purchase via Vietnam Airlines’ website due to the special requirements on COVID-19 prevention and control. Instead, customers must buy tickets through the national flag carrier’s agents in either Vietnam or South Korea.
Ministry revives key industrial industries
SGGP
The COVID-19 pandemic has been causing serious damage to the production and business activities of enterprises nationwide, especially the key industries. Most of the export sectors that bring billions of US dollars, such as garment and textile, leather and footwear, electrical and electronic products, mechanical engineering, and wooden products, have declined sharply. 
Int’l port in southern Vietnam marks completion of first phase
Tuoitre
An inauguration ceremony was held for the first phase of Long An International Port in the namesake province in Vietnam’s Mekong Delta on Saturday. Construction for the second phase of the port also began the same day, the Vietnam News Agency reported. Located in Tan Lap Commune, Can Giuoc District, the 147-hectare port is developed in three phases at a cost of nearly VND10 trillion (US$430.7 million). It is designed to have seven wharves, which are able to receive ships of up to 70,000 DWT. More than 400,000 square meters at the port was dedicated to building warehouses, serving the transportation of farm produce, steel, fertilizer, and others in the Mekong Delta.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Senior Director

T +84 286 284 7668

dung.duong@cbre.com

 

An Nguyen
Director

T +84 24 6288 6379

an.nguyen@cbre.com