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CBRE Vietnam Real Estate Spotlight – W46 2017

Hanoi will build Mai Linh Bridge across the Day River, Hilton’s dual signings in Vietnam, The landing of the Korean entertainment industry,




CapitaLand marks 11th residential project in Vietnam by acquiring $177m asset
Deal Street Asia

CapitaLand Limited has acquired an 870-unit residential development in Vietnam at a total value of S$247 million ($177 million). The acquisition has propelled the number of CapitaLand’s residential portfolio to 11 projects in Vietnam. Located in District 4, HCMC, it is also its ninth residential unit in this busiest city of the country. The 1.45-hectare site, close to Saigon River, is designed for two 24-storey towers as well as retail units on the lower floors.

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State Bank of VN: Continue to strictly control the credit growth rate in mid-end and high-end real estate segments

From the beginning of 2017 until now, the State Bank of Vietnam (SBV) continues to closely monitor the situation of credit granting to the real estate sector in order to promptly direct credit institutions. The State Bank has instructed credit institutions to actively deal with bad debts, especially bad debts in the field of real estate. The rate of non-performing loans for real estate business fell sharply from 7.05% in 2013 to 4.06% today. 

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Vietnam’s currency is among Asia’s most stable

In a recent assessment by the Bloomberg News of the monetary stability of some currencies in Asia, Vietnam dong (VND) is considered to be the most stable currency in Asia. Statistics of the State Bank, the past months, good market liquidity, the system of credit institutions buying foreign currency from customers; The legitimate and legitimate demands of organizations and individuals in foreign currency are fully and promptly met; State-owned banks continue to buy foreign currency to increase the state's foreign exchange reserves.


The landing of the Korean entertainment industry 

Last week, the 2017 Korean Brand and Entertainment Show (KBEE 2017) took place in the heart of HCMC, bringing together over 50 entertainment brands in Korea. In three days, the exhibition attracts more than 10,000 visitors and connects nearly 100 entertainment and communication businesses in Vietnam. A good sign is that the Vietnamese market has been attracted by Korean entertainment companies such as Mirang, YG Entertainment, etc.


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Ole Scheeren unveils plans for a spectacular 'sky forest' in Vietnam 

Ole Scheeren's latest project will be built in central HCMC. Named Empire City, the complex forms part of a new development that could transform the once impoverished District 2. At 1093 feet (333 meters), the largest of the three towers, Empire 88 Tower, will become one of Vietnam's tallest buildings upon completion. But while the structure is likely to stand out from its urban surroundings, it was inspired by Vietnam's geography, Scheeren said.

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Hilton’s dual signings in Vietnam
TTG Asia

Hilton will launch DoubleTree by Hilton Vung Tau and Hilton Garden Inn Saigon in Q1 2022, its third signing in the past three months. Located in the heart of Vung Tau and an 800m walk to the famous Bai Truoc Beach, the 250-room DoubleTree by Hilton Vung Tau offers more than 1,700m2 of meeting space including a ballroom, four dining and bar outlets, a swimming pool, a fitness centre and spa. The 160-room Hilton Garden Inn Saigon will offer two dining and bar outlets, a fitness centre and a swimming pool. From its location in District 1 – home to most of the administrative offices, consulates, and multinational companies – the hotel is within a 1.5km radius of key attractions such as Saigon Opera House, etc

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Landmark law to spur big FDI

Vietnamese provinces are taking action in advance of a predicted wave of foreign investment inflows headed towards three special economic zones, which are soon to be supported by a new law on special administrative-economic zones. The draft law is now under debate at the on-going National Assembly working session.

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Long Thanh International Airport capital debate divides National Assembly

The missing capital for site clearance at Long Thanh International Airport has yet to be determined as members of the National Assembly (NA) are still debating whether they should allocate part of the capital reserves of the 2016-2020 medium-term public investment fund or part of the VND80-trillion ($3.53 billion) fund serving key national projects.

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Vietnam to offload 21.8% of construction major Vinaconex on Dec 8 
Deal Street Asia

SCIC, Vietnam’s sovereign wealth fund, is seeking to sell a 21.79 per cent stake in the country’s construction major Vinaconex on December 8. The sale will be implemented through a public auction, similar to the process carried out SCIC used for disposing of Vinamilk shares. SCIC will hold 36 per cent of Vinaconex after the transaction, with a full divestment scheduled for completion by 2020.


Hanoi will build Mai Linh Bridge across the Day River

People's Committee of Hanoi’s office has issued Official Letter No. 10499 / VP-KT requesting departments and units involved about the project of designing Mai Linh Bridge under the project of improving and upgrading national highway 6 Ba La – Xuan Mai. Specifically, the Mai Linh Bridge will cross the Day River with a span spanning the entire range between the Day Dynasty dike and the Day River dike as planned.          


CBRE Newspaper Updates on Residential Ads


  • No new launch
  • Advertisements:

    • Topaz Eilte (District 8)

      • Total units: 2,339 (for condos only)
      • Scale: four 33-floor blocks
      • Unit size: 59 – 181 sm (1 – 3 bedrooms)
      • Price*: from VND 1.5 billion/2BRs
    • Saigon South Plaza (District 7)

      • Total units: 295 (for condos only)
      • Scale: one 23-floor block
      • Unit size: 46.6 – 71.5 sm (1 – 2 bedrooms)
      • Price*: from VND 1.1 billion/1BR

* Prices included VAT


  • Three new launched projects

    • Discovery Complex (Cau Giay District)

      • Total units: 500 units
      • Scale:  10,218 sm land area
      • Unit size: 87-150 sm 
      • Price*: from VND 35 million/sm
    • 5 Seasons – Condotel (Thanh Xuan District)

      • Total units: 400
      • Unit size: 60 – 100 sm (2-3 bedrooms)
      • Price*: from VND 26 million/sm
    • Eurowindow River Park (Dong Anh District)

      • Total units: ~2,000
      • Unit size: 60 – 93 sm (2-3 bedrooms)
      • Price*: from VND 17.5 million/sm
  • Advertisements

    • Nui Truc Square (Ba Dinh District)

      • Total units: 69 units
      • Scale: 1,052 sm land area
      • Unit size: 40-56 sm 
      • Price*: from VND 42 million/sm

* 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, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, Vnexpress

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