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CBRE Vietnam Real Estate Spotlight – W46 2019

Hanoi remains top FDI destination in 10 months, Hospitality to continue attracting investors over next decade, HCMC opens major intersection to traffic…

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    • Le Grand Jardin (Long Bien District)                              

      • Total units: 1,124 units
      • Scale: 5,658 sqm
      • Unit size: 50 – 106 sqm (2 – 3 bedrooms)                                  
      • Price*: from VND28 million per sqm
    • Pandora (Thanh Xuân District)
    • Total units: 286 units
    • Scale: 2,963 sqm land area
    • Unit size: 72 – 143 sqm (2 – 3 bedrooms) 
    • Price*: from VND28 million per sqm
    • Total units: 575 units
    • Scale: 8,570 sqm land area
    • Unit size: 61 – 96 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND25 million per sqm
    • Total units: 336 units
    • Scale: 6,822 sqm land area
    • Unit size: 91 – 159 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND29 million per sqm
    • Anland Premium (Ha Dong District)                              
    • Stellar Garden (Thanh Xuan 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







Keppel breaks ground on Saigon Sports City

Deepening its presence in Vietnam, Keppel Group held the ground-breaking ceremony this morning for Saigon Sports City in the prime District 2 of Ho Chi Minh City. When completed, Saigon Sports City will feature about 4,300 premium homes as well as serve as Vietnam’s one-stop sports, entertainment, and lifestyle hub. The first phase of Saigon Sports City will comprise of residential and commercial spaces as well as sports facilities.




Government approves northern highlands airport in Sa Pa

The Ministry of Transport has approved a plan to construct Sa Pa Airport with a capacity of 3 million passengers a year. Located 80 kilometers away from the mountain resort town of Sa Pa, the domestic airport will have nine aircraft parking slots, and will be used for both civilian and military purposes. Its single runway will be able to receive aircraft similar to the narrow-body Airbus A320 and Boeing 737-700. A six-lane road will be built to connect the 371 hectare airport with the existing Hanoi – Lao Cai Expressway.



HCMC’s metro project costs cut by US$146.5 million
Saigon Times


HCMC has cut unnecessary costs to lower the investment capital for its first metro line by VND3.4 trillion (US$146.5 million) to VND43.6 trillion. On the sidelines of a conference on traffic safety on November 13, HCMC Vice Chairman Vo Van Hoan said the municipal government would submit the plan on investment reduction to the municipal People’s Council so that the council can issue a resolution to allocate the reciprocal capital for the project at its meeting at the end of this year.




HCMC opens major intersection to traffic
Saigon Times

The intersection at Vietnam National University-HCMC in Thu Duc District, which cost a total of VND270 billion to construct opened to traffic to ease traffic jams in the eastern part of the city. The intersection, which stretches 1.8 kilometers, spans from Suoi Tien Theme Park in District 9 and Thu Duc District to the Binh Thang gas station in Binh Duong Province’s Di An Town.




Toyoda Gosei to build another airbag factory in Vietnam
As planned, Toyoda Gosei will build a new plant in the northern province of Thai Binh with a total investment of 1.8 billion JPY (US$16.8 million). Construction of the plant is expected to start in May 2020. Once put into operation in October 2021, the new factory will help increase the company’s total airbag production output in Vietnam to 25 million units, 1.5 times higher than the figure in 2018. The plant will employ 2,000 workers by the end of 2023.




Cotton:On to open first store in Vietnam


The first store of Cotton:On, an Australian clothing and accessories brand, will be launched in HCMC on November 15, marking an addition to the list of international fashion brands present in Vietnam. Covering an area of nearly 400 square meters, the first store of Cotton:On Vietnam will be located in Vincom Thao Dien in HCMC’s District 2.




Hospitality to continue attracting investors over next decade

Vietnam’s hospitality industry will remain attractive for the next ten years, experts told the Vietnam Hospitality Forum held by CBRE Vietnam on November 7 in Hanoi. A report from CBRE shows that growth in Vietnam’s hospitality sector declined this year, increasing only 10.8 per cent compared to more than 20 per cent in 2018, but the figure is still impressive compared to other countries in the region and Asia. The market has also recorded an explosion in supply since 2015. The five-star hotel segment has seen the largest increase. From 2015 to 2019, the number of five-star hotel rooms more than doubled, from 24,212 to 52,213. The four-star segment also maintained good growth, from 27,379 to 39,023 rooms.




Swiss-Belhotel unveils major Vietnam expansion plans
TTG Asia


Swiss-Belhotel International will be expanding its portfolio in Vietnam with a series of new hotels, resorts and residences in destinations all across the country. Currently, the group operates one hotel in Vietnam, Swiss-Belresort Tuyen Lam, an elegant upscale retreat in the country’s Central Highlands. But the Hong Kong-based hospitality company is now planning a significant expansion of its Vietnamese portfolio, with the target of launching at least 10 hotels and resorts in the next three to four years. Destinations under consideration include key cities like Hanoi, Ho Chi Minh City, Haiphong and Danang; beachfront locations like Phu Quoc, Quy Nhon and Van Phong; as well as cultural sites such as Sapa and Hoi An.



Hanoi remains top FDI destination in 10 months


Hanoi continued to top the list of foreign direct investment destinations in Vietnam in the first 10 months of this year, raking in about US$6.85 billion, most of which came in form of capital contributions and share purchase.



Foreigners using proxies to own real estate in national security areas


Hundreds of Vietnamese firms are serving as proxies for foreigners to buy real estate units in areas vital to national security, says Deputy PM Pham Binh Minh. Replying to a lawmaker’s question in the National Assembly, he said many of the properties bought by proxies are in areas vital to national security such as Da Nang City, Central Highlands province Lam Dong and the northern port city of Hai Phong. One way foreign investors end up owning land is by setting up a property company in which a Vietnamese investor owns over 50 percent, Minh said. Foreigners are also getting married to Vietnamese spouses to own real estate, Minh said. Foreigners can form a company for the spouse to run on paper, but they conduct all operations, he added. He warned that projects violating real estate laws would have their licenses revoked or development halted.