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CBRE Vietnam Real Estate Spotlight – W39 – 2020

Vietnam's central bank to cut policy rates from tomorrow to spur growth, Investment from State budget increased at highest rate during 2016-2020, Experts unable to agree on location for Hanoi's second airport…



  • One New Launched:

    • Geleximco Southern Star – Hoang Mai District

      • Total units: 360 unit
      • Scale: 9,401 sqm   
      • Unit size: 60.6 – 92.8 sqm (2 – 3 bedrooms)  
      • Price*: from VND 31 million psm
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    • Sunshine Green Iconic – Long Bien District

      • Total units: 384 units                        
      • Scale: 16,700 sqm
      • Unit size: 32.3 – 348 sqm (1 – 3 bedrooms and duplex)
    • Tay Ho Residence – Tay Ho District

      • Total units: 340 units                         
      • Scale: 24,000 sqm
      • Unit size: 69.8 – 107 sqm (2 – 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

Vietnam's central bank to cut policy rates from tomorrow to spur growth
Theedgemarkets
The State Bank of Vietnam (SBV) will cut its key policy rates from Thursday to boost economic growth that is now picking up pace, after the global impact of the coronavirus saw it expand at its slowest rate in decades in the second quarter. The refinancing rate will be cut to 4.0% from 4.5% and the discount rate to 2.5% from 3.0% the central bank said in a statement on Wednesday. The rate cuts, the second time in just over four months, are in line with the government's measures to "help firms and people overcome difficulties and cope with the COVID-19," the central bank said in the statement.
Vietnam increases GDP growth target to 3 pct
VnExpress
Vietnam targets GDP growth of 3 percent this year despite the disruptions caused by the COVID-19 pandemic. Prime Minister Nguyen Xuan Phuc announced the target, which is 0.5 percentage points higher than the target announced last month, at a meeting on Friday, saying Vietnam’s economy was on the road to recovery. The country has now successfully contained two waves of Covid-19 in March and July while sustaining economic growth unlike many global and Southeast Asian economies, which have been contracting.
Investment from State budget increased at highest rate during 2016-2020
Nhandan
According to the General Statistics Office (GSO), total social investment during the last nine months increased by 4.8% compared to the same period in 2019, the lowest increase in the 2016-2020 period due to the impact of the COVID-19 epidemic on all production and business activities. However, the growth rate of investment capital from the State budget in September and over the past nine months reached their highest levels in the 2016-2020 period as a result of the accelerating disbursement of public investment, in order to maintain the momentum of economic growth while controlling the epidemic well.
Singapore to lift border restrictions with Australia, Vietnam
Theedgemarkets
Singapore will lift border restrictions for visitors from Australia and Vietnam from Oct 8, the Civil Aviation Authority of Singapore said in a statement. Both countries have a comprehensive public health surveillance system and have displayed success in controlling the spread of the Covid-19 virus, the authority said, adding that there is a low risk of importation. The latest relaxation comes after Singapore lifted restrictions for travellers from Brunei Darussalam and New Zealand in early September.
Strategic Property Investors to sell three hotels in Indonesia, Vietnam after COVID hit
Dealstreetasia
Strategic Property Investors Company Limited is selling its 100 per cent stakes in three hotels – two in Vietnam and one in Indonesia – through the Strategic Hospitality Extendable Freehold and Leasehold REIT (SHREIT), according to a regulatory filing on September 25. The assets, including Ibis Saigon and Capri by Frasers in Vietnam and Pullman Jakarta in Indonesia, will be sold to LT Rubicon Limited for $105 million, following a revised offer. LT Rubicon, a British Virgin Island-domiciled company, had in April offered to acquire the properties for $118 million.
Experts unable to agree on location for Hanoi's second airport
VnExpress
A proposal to build a second international airport in Hanoi has elicited mixed opinions from aviation and planning experts. The city's Department of Planning and Architecture recently recommended the construction of the airport in the southern district of Ung Hoa, 40 kilometers from downtown, to meet the growing demand for air travel. However, Ung Hoa is not an ideal choice since it is low-lying and used to be a flood discharge area. Aviation expert Pham Van Toi approved the choice of Ung Hoa but said the location also depends on other factors such as vertical clearance, geology, climate, and hydrology, and Hanoi needs to make a thorough evaluation.
Work commences on three north-south expressway sections
Nhandan
Prime Minister Nguyen Xuan Phuc attended a ceremony on September 30 to kick off the construction of the Mai Son-National Highway 45 expressway, one of three sections of the eastern part of the north-south expressway whose work all commenced on the same day. The other two are the Vinh Hao-Phan Thiet and Phat Thiet-Dau Giay sections, which saw the attendance of Deputy Prime Ministers Trinh Dinh Dung and Truong Hoa Binh at ground-breaking ceremonies in Binh Thuan and Dong Nai Provinces, respectively. The three sections will cost a total of VND37 trillion (US$1.6 billion) and are expected to be completed by the end of 2022.
Ground handover for Phase 1 of Long Thanh Airport to take place on October 20
SGGP
The People’s Committee of the Southern Province of Dong Nai has just worked with the Southern Airports Authority and Airports Corporation of Vietnam (ACV) to unify the ground handover ceremony for Phase 1 of the Long Thanh International Airport Project on October 20. Accordingly, Dong Nai Province will hand over 1,800 hectares serving for the first phase of Long Thanh International Airport to the Southern Airports Authority to carry out the hand-over procedures to Airports Corporation of Vietnam.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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