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CBRE Vietnam Real Estate Spotlight – W43 2019

Giant Vietnam restaurant chain Mon Hue shuts down, ACV as investor for Long Thanh airport could bloat public debt: lawmakers, S.Korea’s Charmvit greenlighted for US$420-million racetrack complex in Hanoi…


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    • Anland Lake View (Ha Dong District)                            

      • Total units: 606 units
      • Scale: 15,766 sqm land area
      • Unit size: 56 – 109 sqm (2 – 3 bedrooms)                                  
      • Price*: from VND27 million per sqm
    •  Park Kiara (Ha Dong District)                              
    • Total units: 432 units (apartment)
    • Scale: 7,301 sqm land area
    • Unit size: 65 – 248 sqm (2 – 5 bedrooms)                                  
    • Total units: 1,124 units
    • Scale: 5,658 sqm
    • Unit size: 50 – 106 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND28 million per sqm
    • Total units: 2,058 units
    • Scale: 42,000 sqm land area
    • Unit size: 63 – 99 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND19 million per sqm
    • Le Grand Jardin (Long Bien District)                              
    • Euro River Park (Dong Anh District)                              

* Prices included VAT

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    • Akari City (Binh Tan District)                                       

      • Developer: Nam Long
      • Total units: 4,660 units                                                               
      • Scale:  8.5 ha land area
      • Unit size: 54 – 120 sm (2-3 BRs)       
    • Metro Star (District 9)
    • Developer: CT Land
    • Total units: 1,600 units
    • Scale: 18,337.5 land area
    • Unit size: 51 – 78 sm (2-3 BRs)          

* 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



















Dung Duong MRICS

Senior Director

T +84 286 284 7668



An Nguyen

T +84 24 2220 0220







Vietnam allocates US$4.7 billion for Phase 1 construction of new mega airport

Total investment capital for the construction of Long Thanh International Airport is estimated at VND111.69 trillion (US$4.77 billion) in the first phase, according to Minister of Transport Nguyen Van The. The capital is allocated to cover construction fee, equipment, contingency costs due to price slippage factors, and interest rates, among others. During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually, as well as other facilities.




HCM City housing prices rise on shortage of new supply

Housing prices continue to rise rapidly in HCM City because of a shortage of new supply, increasing population and lack of transport infrastructure in outlying areas. It has become very difficult to find apartments for less than VND 2 billion (US$ 85,500) in the city. Prices are up 5-10 per cent compared to just six months ago.



Vietnam's ten-month FDI capital contributions at US$10.8 billion


Capital contributions and share purchases by foreign investors in the first ten months of this year increased 70.5 per cent compared to the same period last year, with capital contributions standing at US$10.8 billion from 7,509 transactions, according to the latest report from the Ministry of Planning and Investment (MPI) released on October 24. 




S.Korea’s Charmvit greenlighted for US$420-million racetrack complex in Hanoi
Hanoi Times

Chairman of the Hanoi People’s Committee Nguyen Duc Chung issued the investment license for the US$420-million racetrack complex project to be invested by South Korea-based Charmvit Group. The racetrack complex, the first of its kind in Vietnam that offers horse betting, would be located in Soc Son district and cover an area of over 100 hectares. Chung requested Charmvit to soon proceed with the project. Hanoi’s authority is committed to handing clear site for the South Korean group for construction. The first race is scheduled to start in October 2020. 




VN among global top 20 growth drivers but unlikely to maintain pace
Vietnam is among the top 20 contributors to global economic growth, according to a Bloomberg analysis of International Monetary Fund (IMF) data. The country, along with Indonesia, Malaysia, the Philippines and Thailand – all from the ASEAN bloc – were named as major drivers of growth against a gloomy backdrop of stalled international trade, rising uncertainty and escalating trade tension, which has been forecast to result in slower growth in the next five years on a global scale.




Vietnam still a magnet for foreign investors amid global economic uncertainty


Vietnam will continue to attract foreign investors next year, especially through mergers and acquisitions (M&A), despite a slowdown in global dealmaking, given the ongoing global economic volatility and the risk of a global recession, according to a report by law firm Baker McKenzie




ACV as investor for Long Thanh airport could bloat public debt: lawmakers

Appointing a state-owned airport operator to build Vietnam's largest airport, Long Thanh, could add US$2.63 billion to the nation’s public debt, lawmakers say. The government has proposed that the Airports Corporation of Vietnam (ACV) be the main investor of Long Thanh International Airport’s first phase, including a runway, taxiways, a terminal, aircraft parking space and other essential infrastructure. ACV is set to borrow almost US$2.63 billion of the US$4.2 billion it plans to invest in the project, and the borrowing will be added to public debt because it will likely be government-guaranteed.




Real estate loans make up 1/5 of total outstanding loans in Vietnam


As of August, real estate loans expanded 14.58% against the end of 2018 and accounted for 19.14% of total outstanding loans in the economy, according to the State Bank of Vietnam (SBV). Such growth rate is higher than the average credit growth of the economy, said SBV’s Governor Le Minh Hung in a report submitted to the National Assembly..



Giant Vietnam restaurant chain Mon Hue shuts down
Inside Retail Asia


Vietnam restaurant chain Mon Hue has closed down without notice, evidently unable to pay its debt. Restaurants under the Mon Hue brand along with sister chains including Pho Ong Hung and 99 House of Pho, have been shuttered and the company’s websites and social-media channels have been switched off. Many of the abandoned stores in downtown Ho Chi Minh City already have for-lease signs on them. The company’s headquarters has been abandoned. 

HCMC green lighted to work on Moc Bai expressway project


Construction of the 53.5km HCMC-Moc Bai expressway linking the Ring Road No 3 in HCMC’s Hóc Môn District with the Moc Bai international border gate in Tay Ninh Province aims to shrink the trip from HCMC to Tay Ninh. Currently, the National Highway No 22 is the only road connecting the city with the border gate in Tay Ninh. The expressway is built under public-private partnership and build-operate-transfer models. It will be divided into two phases. The new expressway is expected to ease traffic in the Mekong delta and promote the socio-economic development of the southern provinces.