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CBRE Vietnam’s Top Property News Stories – W11/2016

Aeon nearing the deal to buy Big C, VND3,181 billion invested in completing new Hanoi-Thai Nguyen Expressway 3, Vingroup will invest VND463 billion to acquire 65% stake in Vietnam Book Company …

 

CBRE Newspaper Updates on Residential Ads

  • No new launch this week.
  • Advertisements:

    • Xi Grand Court (District 10).

      • Total construction area is 17,940 sqm.
      • Total number of units: 740 units.
      • Handover to buyers in Q4 2017.
      • Total number of storeys: 29 with 2 basements.
    • 9 view (District 9)
    • Total number of units: 690 units
    • Total construction area is 12,672 sqm, with 3 blocks, 18 storeys
    • Unit size: 58.1 – 86.98 sqm
    • Connected to major areas: Phu My Hung (15 minutes), District 1 (20 minutes), District 2 (9 minutes).
    • The project consists of 3 blocks: Southern Mia, Northern Mia and Central Mia, each has 27 floors, 2 basements
    • Total number of units: 872 units
    • Unit size from 50 m2
    • Total construction area is 15,126 sqm
    • Saigon Mia (District 7)

       

  • One new launch:

    • Seasons Avenue (Ha Dong district)

      • Date of official launch: March 19th 2016, with total units launched about 300
      • 2 out of 4 towers will be on sale, namely S1 and S3
      • Unit size: 67.4 – 99.48sqm (2 – 3 bedrooms)
  • Other advertisements:
  • Mon City (Nam Tu Liem district)

    • Phase 1: 896 units
    • Unit size: 52.6 – 86 sqm
    • Handover to buyers in Q4 2017
  • Ecolife Capitol (Nam Tu Liem district)
  • Total number of units: 760 units
  • Total construction area is 10,000 sqm, with 3 towers from 34-36 storeys
  • Unit size: 45 – 150 sqm
  • Connected to major roads: Khuat Duy Tien, Nguyen Trai, Tran Duy Hung và Le Van Luong
  • The project consists of 3 towers, each has 29 floors, 3 basements
  • Total number of units: 492 apartments
  • Unit size from 64.7 m2
  • Average price: from VND2 billion/apartment.
  • MBLand Central Point Trung Kinh (Cau Giay district)


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Apple eyes $1b regional data centre in Vietnam​
Deal Street Asia 

US tech giant Apple Inc is mulling a $1-billion regional data hub in Hanoi, stated Dien dan doanh nghiep, the official publication of the Vietnam Chamber of Commerce and Industry. The same source also reported that Apple is studying the sites for the construction and completing the investment procedures. This will be Apple’s first investment in Vietnam, following in the footsteps of South Korean conglomerates Samsung and LG, and US-headquartered Microsoft, which have been present in the country for years. However, while the others have invested in manufacturing facilities in Vietnam, Apple will reportedly build a data centre meant for its entire Asian operations.

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Zara to open first shop in Vietnam

Vietnam Economic Times

Vietnam, New Zealand, Paraguay, Aruba, and Nicaragua are five new markets for Zara, a brand of Spanish fashion corporation Inditex, in its bid to open between 280 and 360 new stores this year.  Vietnam promises great opportunities for Zara as the majority of its population are young to middle age, Zara Vietnam wrote on its website. “The rapid urbanization and globalization in Vietnam has seen the number of consumers who care about international high street fashion increase dramatically” it said.

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South Korea's CJ Group promises $500 mln expansion in Vietnam
Thanh Nien News

CJ Group, which runs Vietnam's largest multiplex cinema chain, has promised to invest US$500 million in the country this year to turn it into its second biggest overseas market after China in the next five years. The amount is larger than the total of $400 million the Seoul-based conglomerate has invested in Vietnam over the past 20 years. Besides the CGV multiplex cinema chain it took over from British Virgin Islands-based Envoy Media Partners Ltd for $73.6 million in 2011, in Vietnam CJ also has interests in food, film production, communications, and real estate.

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Casino Said to Seek Second-Round Bids for Vietnam Unit​

Bloomberg

French retailer Casino Guichard-Perrachon SA plans to soon seek second-round bids for its Big C grocery chain in Vietnam. Japan’s Aeon Co. was among several parties that submitted first-round bids. Other suitors who had submitted bids for Casino’s Vietnam unit include South Korea’s Lotte Group, as well as Thailand’s Central Group and TCC.

 

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Vingroup will invest VND463 billion to acquire 65% stake in Vietnam Book Company

Cafe F

On March 3, 2016, the Ministry of Culture, Sports and Tourism has approved choosing Vingroup (VIC) to become the strategic shareholder of the Vietnam Book Company (Savina). Accordingly, Vingroup will buy 65% ​​of the charter capital of Savina, which is equivalent to 44.14 million corresponding shares. After the equitization, Vietnam Book Company will implement the commercial project on a land site of 4,600 sqm in Hai Ba Trung Street, Hanoi. [The original article is available in Vietnamese only.]

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Ministry of Construction proposes to extend the disbursement of 30,000 billion credit package
Dan Tri

According to Circular 11 published in 2013, from June 1, 2016 the State Bank of Vietnam (SBV) would stop the disbursement of the 30,000 billion credit package to support home buyers.  However, this information has caused concerns among customers who have already signed the borrowing contract but will not receive the disbursed money after that date. At current pace, by June 1, 2016, banks will have disbursed 85% of the package. The  Ministry of Construction has proposed to SBV to prolong this credit package in case the disbursement is not completed by due date. If this is not possible, customers with already signed borrowing contracts who have not received the money will be able to continue borrowing at a favourable interest rate. [The original article is available in Vietnamese only.]

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VND3,181 billion invested in completing new Hanoi-Thai Nguyen Expressway 3
Cafe F

 

The Ministry of Transportation has approved the the proposals of investing to complete a section from Hanoi to Thai Nguyen on National Espressway 3 in the form of BOT contract with a total investment capital of VND3181 billion funded by Associates Vietnam Xuan Moi – Yen Khanh – petroleum IMICO. The project has a total length of 63.8 km and 4 lanes with a maximum speed of 120km/h. The project also includes  VND873 billion to pay arrears in construction due to lack of capital resources during project implementation in Phase I. [The original article is available in Vietnamese only.]

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Aeon nearing the deal to buy Big C
Nguoi Dong Hanh

Aeon is leading the bid group for Big C Vietnam, after filing the initial valuation for the retail chain more than $800 million. However, the source confirmed the deal had not been completed. If all goes well, the deal could be announced this week. Meanwhile, Reuters yesterday said more than 10 companies have filed bids for Big C Vietnam. One of these firms even amounted the valuation for this retail chain up to USD 1.11 billion. [The original article is available in Vietnamese only.]

 

 

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Slow site clearance affects Metro Line No. 2 progress​

The Saigon Times

Metro Line No. 2 connecting the central station near Ben Thanh Market and Tham Luong in District 12 has fallen far behind schedule due to slow site clearance. The groundbreaking date for the project has remained undecided. The project could not be completed until 2023 or 2024, according to the Management Authority for Urban Railways (MAUR).

 

 

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Small and medium-sized enterprises will be supported by Japan
BNews

On March 14, in Hanoi, Small- and Medium- Enterprises Development Fund (SMEDF) signed a partnership memorandum with the Japan-based bank Johnan Shinkin (JSB). In Accordance, JSB will provide information and consulting to SMEDF about finance for SMEs, cooperate and support staff exchange between two parties, organize workshops and connect businesses, etc.[The original article is available in Vietnamese only.]

 

 

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Apartments classification: Concernings of 'ask-give', mediating upgrading

Tien Phong

Ministry of Construction is consulted to finalize the draft circular for  Regulations Classification and Rating condominium recognition. Accordingly, the apartment will be categorized and reviewed like hotels. Apartment classification has been desired by active management agencies. However, investors and experts say to let the market reflects itself instead of to let regulation by state. [The original article is available in Vietnamese only.]

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FOR MORE INFORMATION,CONTACT:

 

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen

Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

 
 
 

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