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CBRE Vietnam Real Estate Spotlight – W47 2019

Vietnam’s Phu Quoc Island thirsts for tourism human resources, Vietnam’s booming domestic tourism a growing market force, FPT Software unveils mega Vietnam campus, targets 30,000 in headcount…

  • One New launched:

    • Golden Park Tower (Cau Giay District)                                  

      • Total units: 410 units                                                              
      • Unit size: 82.6 – 132.5 sm (2 – 3 bedrooms)                                  
      • Price*: from VND 39 million psm                                         
  • Advertisement:
  • The Zen Residence – Gamuda Gardens (Hoang Mai District)                              

    • Total units: 927 units
    • Scale: 141,000 sqm
    • Unit size: 52 – 221 sqm (2 – 3 bedrooms)                                  
    • Price*: from VND28 million per sqm
  • Hinode City (Hai Ba Trung District)
  • Total units: 1,099 units
  • Scale: 28,000 sqm land area
  • Unit size: 70 – 206 sqm (2 – 4 bedrooms) 
  • Price*: from VND42 million per sqm
  • Total units: 1,791 units
  • Scale: 21,702 sqm land area
  • Unit size: 82.79 – 109.6 sqm (2 – 3 bedrooms)                                  
  • Price*: from VND35 million per sqm
  • Sunshine City Tay Ho (Tay Ho District)                              

* Prices included VAT

  • No New Launch                  
  • Advertisement:                                            

    • 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







Wínk breaks ground at one hotel, tops out another

Located on one of Danang’s most active streets, Wínk Hotel 178 Tran Phu marks the brand’s breakthrough in Central Vietnam. The 244-room Wínk Hotel brings an innovative product to the hospitality market, characterized by its tasteful design, multifunctional common spaces, state-of-the-art technologyand a new take on the traditional business center – aco-working space.

In the meantime, Wínk Saigon Center Hotel’s topping out marks the building reaching its maximum height and the transition to interior fit-out. Wínk Saigon Center Hotel, comprising of 237 rooms, rises at 75 Nguyen BinhKhiem, District 1, nestled in HCMC’s central business district, which sets to open in Q3/2020, The hotel’s design seeks to emulate the brand’s signature characteristics of modernity, minimalism and efficiency, all of which are underpinned with Vietnamese values.




Fusion has major expansion, new brands in store for Vietnam
TTG Asia

Wellness-oriented hotel group Fusion has unveiled plans to substantially step up its Vietnam’s presence by tripling the number of properties in the country while introducing new brands to the market. Over the next three years, the Vietnam-based hotel group will launch 10 new hotels and resorts across the country, representing 1,385 rooms and private villas, suites, and apartments.



Lotte E&C & TTC Land to develop property projects
Vietnam Economic Times


South Korea’s Lotte Engineering & Construction (Lotte E&C) signed a strategic cooperation agreement with Saigon Thuong Tin Real Estate JSC (TTC Land) on Nov 21. Lotte E&C will jointly develop real estate projects with TTC Land through its wholly-owned subsidiary in Vietnam, Lotte Land. It plans to invest around US$100 million in such projects, of which US$22 million will be disbursed to TTC Land early next year. Following TTC Land’s comprehensive restructuring strategy adopted at the General Meeting of Shareholders in April 2019, building a strong and sustainable financial structure is one of the strategies its Board of Directors is paying particular attention to in order to prioritize and accelerate deployment.
The signing of this strategic cooperation agreement marks the first success in realizing this strategy.




Matsumoto Kiyoshi drugstore to set up joint venture in Vietnam
Inside Retail Asia

Japanses drugstore operator Matsumoto Kiyoshi is to open stores in Vietnam in partnership with a local company, Lotus Food Group. The two parties have formed a joint venture, Matsumoto Kiyoshi Vietnam JSC, to operate a drugstore chain under the name MatsuKiyo in Vietnam. In Japan, Matsumotokiyoshi operates stores under the banner Matsumoto Kiyoshi. According to a statement by Matsumotokiyoshi, a JV company has been set up with a capital of US$1.36 million, 51% owned by Matsumotokiyoshi, 48.87 % by Lotus Food Group and 0.13% owned by Le Van May, the president and CEO of Lotus. 




FPT Software unveils mega Vietnam campus, targets 30,000 in headcount
Channel Asia
FPT Software has opened its largest campus in Vietnam amid plans to reach 30,000 employees by 2020. Under the banner of F-Town 3, the new facility is the largest of six campuses across the country for the technology provider, located on the outskirts of Ho Chi Minh City. Spanning 69,000 square metres, the campus is expected to initially accommodate 7,500 employees, with the subsidiary of FPT Corporation aiming to expand into a 30,000-strong workforce within the next 12 months.




Vietnam’s booming domestic tourism a growing market force


Vietnam’s industry players should look to tap into the rapidly growing segment of high-spending domestic tourists which remains a key driver of growth in the country’s travel sector, claim hoteliers. As Vietnam’s middle-class continues to grow and rising levels of disposable income are spent on travel, domestic travel is rapidly on the rise. According to figures from Vietnam National Administration of Tourism, domestic tourists increased by 6.8 million to more than 80 million in 2018.




HCMC third most promising real estate market in Asia-Pacific: report

Ho Chi Minh City ranks third best out of 22 cities in the Asia-Pacific for property investment in 2020, according to a report. Based on the opinions of 460 real estate professionals, the 2020 Emerging Trends in Real Estate Asia Pacific report by U.S. think tank Urban Land Institute and U.K. professional services company PricewaterhouseCoopers said that the city is behind Singapore and Tokyo. HCMC has seen a surge in popularity in the last five years thanks to the country’s strong economic growth, with foreign investors, mainly from Japan, South Korea and Singapore, becoming interested in its property market on expectations of annual returns of 20-25%, said the report.




Vietnam c.bank tightens real estate lending
Hanoi Times


The State Bank of Vietnam (SBV), the country’s central bank, has decided to tighten lending to real estate projects by announcing a three-year roadmap to gradually decrease the maximum ratio of short-term capital used for mid- and long-term lending. Specifically, such ratio would be set at 40% from January 1, 2020 to September 30, 2020, 37% from October 1, 2020 to September 30, 2021; 34% from October 1, 2021 to September 30, 2022 and 30% from October 1, 2022 onwards, with an aim to enhance safety in the banking system. The information was revealed in the SBV’s Circular No.22, which was issued on November 15 stipulating limits and prudential ratios for operations of credit institutions and branches of foreign banks in Vietnam.



Vietnam’s Phu Quoc Island thirsts for tourism human resources
Tuoitre News


The rapid development of tourism on Phu Quoc has created a high demand for personnel working in the sector. According to the tourism department of Kien Giang, there are currently about 11,000 people working in the tourism sector on Phu Quoc, barely meeting half of the number of employees needed. The lack of tourism human resources is one issue faced not only by Phu Quoc but also by many other localities in Vietnam. Around 15,000 fresh graduates enter the tourism labor force every year, a modest figure compared to the market’s high and growing demand, according to the Vietnam National Administration of Tourism. Moreover, tourist companies say only 65-70% of these fresh graduates are qualified to work for them without further training.



Vietnam to Extend Retirement Age by 2 Years for Men, 5 Years for Women


Vietnam will gradually extend the retirement age for men by two years and for women by five years over the next decade as part of the government’s amendment to its Labor Code. Men can work until 62 by 2028 and women until 60 by 2035 from the current retirement age of 60 for males and 55 for females, the government said on its website. Under the amendments approved by the National Assembly on Wednesday, the retirement age will increase by 3 months annually for men and by 4 months each year for women starting 2021. The changes were made as Vietnam’s population is maturing at a faster pace than some of its peers