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CBRE Vietnam’s Top Property News Stories – W14/2015

 

The first three months of 2015, real estate companies were massively "born" ,Leading Korean hypermarket to enter Vietnam, Macau junket operator, Chow Tai Fook enterprises plan $4 bln Vietnam casino , Hanoi started building bridge over Nga Tu So (nearby Royal City) 

 

 

CBRE Newspaper Updates on Residential Ads 

 

 

 

  • One new launch:

    • Flora in District 9:

      • Launch on April 12th 2015
      • Total 500 unit. Scale is from 54 – 67 sm/unit
      • Price is from 860 mil/unit;
  • The most actively advertised projects are:
  • An Gia Star in Binh Tan District:

    • Launch phase 2 on April 4th 2015
    • Total is 480 units
    • Scale is from 50 sm to 68 sm/unit
    • Price is from 599 mil/unit;
  • Duong Hong Garden House in Binh Chanh District:
  • 3nd launch on April 4th 2015
  • Payment term is 10 months; discount 100 mil/ plot for the first 30 buyers
  • Price is from 1,6bil/ plot (95-200 sm).

  • One re-launch:

    • 283 Khuong Trung (Thanh Xuan District):

      • Re-launch 65 units
      • Financial support: HD Bank to provide loans of up to 80% of apartment’s value, duration of 20 years, 6.8% – 9%/annum interest rate;
  • Advertisment activities:
  • Goldmark City (Tu Liem District):

    • 350 units sold
    • Penalty will be applied: the Developer will have to re-fund 0.05% of the payment per day behind schedule.

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The first three months of 2015, real estate companies were massively "born"

CafeF

According to Department of Business Registration Management, number of newly established real estate companies in Q1/2015 increased by 50%  in comparison with Q1/2014. This was subject to facts that real estate market has been warmer and companies take advantages of the opportunities before 2014 Real Estate Business Law is effective in July. This will definitely make a harsh competition on market. [The original article is available in Vietnamese only.]

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Leading Korean hypermarket to enter Vietnam

Bizhub

Leading Korean retailer Emart on March 31 unveiled its plan to open its first Emart hypermarket in Viet Nam in HCM City's Go Vap District, one of the most populous areas in HCM City, with total investment capital of US$60 million. Choi Kwang Ho, general director of Emart Viet Nam, said Emart would cooperate with about 1,000 local suppliers for the first hypermarket.

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Macau junket operator, Chow Tai Fook enterprises plan $4 bln Vietnam casino 

Thanh Nien News

One of Macau's top casino junket operators, a Vietnamese investment group and Hong Kong property-to-jewellery conglomerate Chow Tai Fook Enterprises will team up to develop a $4 billion casino resort in Vietnam.The resort, to be located in the central province of Quang Nam, is headed by Vietnam-based VinaCapital. Vietnam's location, near many Asian capitals and within easy reach of wealthy Chinese who provide the lion's share of the region's gaming revenue, gives it the potential for annual gaming revenues of $3 billion should the laws be loosened.

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Kenya Airways launches flights to Hanoi 

Vietnam Investment Review

Kenya Airways has launched direct flights to Hanoi from its hub at Jomo Kenyatta International Airport (JKIA) in Nairobi, making it the first African airline to connect the continent to Vietnam. Kenya Airways will fly the Boeing 787-800 three times a week to the Noi Bai International Airport in Hanoi. Especially on the occasion of opening Kenya Airways offers special rate at VND15,054,000 per return Economy Class ticket and VND50,943,000 per Business Class ticket for the new route. The promotion is available for booking from now to April 30, 2015 and for travel period from now to December 31, 2015 (Black-out period is from July 1 to August 31, 2015).

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Hanoi started building bridge over Nga Tu So (nearby Royal City) 

Land Today

The project is 116.7m long, including 2 segments: the road right beside To Lich River (7.5m) and bridge over the river toward Lang Road (17.5m). The project is expected to complete in September 2015, reducing traffic jam in Hanoi, especially in Nga Tu So. [The original article is available in Vietnamese only.]

 

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The first Sol resort to debut on Phu Quoc Island 

Vietnamnet

Spain’s Meliã Hotels International, one of the largest hotel companies worldwide, and M.I.K Corporation- a leading real-estate investor and developer in Vietnam- recently entered a partnership to present the first Sol resort in Vietnam – Sol House Phu Quoc.

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VIC has 81.1-million-sqm land bank for development in next 10 years

CafeF

In the annual investment conference Vietnam Access Day 2015 held by Viet Capital Securities Joint Stock Company, Vingroup Corporation (VIC) announced that this corporation now owns 81.1 million m2 land in reserve for development for the next 10 years, aiming at ‘golden’ locations. VIC is now in search of land to develop agriculture in many provinces. [The original article is available in Vietnamese only.]

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Coordinated investment in Thu Thiem

Thanh Nien

Dai Quang Minh Real Estate Corporation has been allowed to research and invest in the Southern delta area (Functional area No. 8) by Ho Chi Minh City People's Committee. The project covers an area of over 150 hectares, Dai Quang Minh has responsibility to research and develop the project in accordance with the 1/2.000 zoning plan and the 1/500 detailed plan along with working on maintenance every year. [The original article is available in Vietnamese only.]

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An Gia Real Estate Company acquired 600 apartments of Lacasa project

Tien Phong

On March 26th, An Gia Real Estate Development and Investment Corp. (An Gia Investment) has completed the acquisition of the entire Block 2A, Block 2B with the scale is about 600 apartments in the Residential Complex Lacasa in District 7, HCMC. The total investment capital for this project is up to VND800 billion. [The original article is available in Vietnamese only.]

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Hanoi to commence the relocation project for people currently squeezing in its Old Quarters

CafeF

On March 27th, the Hoan Kiem District People's Committee (Hanoi) has started construction of the new residential area for the Old Quarter residents in Viet Hung Urban Area (Long Bien District). This project is a specific implementation step of the Scheme: Relocation in Hoan Kiem Old Quarter – a major policy of Hanoi in order to reduce the population density of the Old Quarter from 823 persons/ha at the moment down to 500 persons/ha in 2020. [The original article is available in Vietnamese only.]

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US$2 billion from EU to Vietnam real estate market 

CafeF

Until 20 March 2015, 23 out of 28 EU countries has invested in Vietnam with 1,607 valid projects and total registered capital of US$19.7 billion. Real estate was third on the list with 34 projects and US$2.2 billion (accounted for 11.2% EU capital to Vietnam). During the first three months of the year 2015, real estate ranks second with new registered and additional capital totaling US$202.93 million (11%). According to Ministry of Construction, real estate transactions in major cities (Hanoi, Ho Chi Minh city) increased three-fold y-o-y. [The original article is available in Vietnamese only.]

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Properties welcome foreign wind

Thoi Bao Ngan Hang

Waiting for the new policy that allows foreigners to own housing in Vietnam when the revised Housing Law becomes effective in July 2015, the mid- to high-end apartment segments are now recording lively sales from many projects. According to a recent survey conducted by HSBC, more and more expats are coming to Vietnam because of the general global movement. Compared to other Asian countries, the number of expats arriving to Vietnam only ranks behind Japan (66pct), but much better than of that in many countries like Malaysia (49pct), China (46pct), etc. [The original article is available in Vietnamese only.]

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Vietnam's balance of payments has $2.8 bln surplus: central bank

Thanh Nien News

Vietnam's overall balance of payments registered a surplus of US$2.8 billion, even though its trade deficit reached $1.75 billion as of mid-March, according to the central bank. The State Bank of Vietnam (SBV) also said it would keep the dollar/dong exchange rate within a 2-percent band this year to facilitate both exports and imports, according to a report on the Saigon Times news website Thursday. The dong has eased 1.3 percent against the dollar this year on the interbank market, where the central bank allows dollar/dong transactions to move in a band of 1 percent around the mid-point set daily.

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More than US$3 billion of FDI capital was disbursed in Q1/2015

Vietnamplus

In the first quarter, total foreign direct investment (FDI) was disbursed of about US$3.05 billion, increased 7% y-o-y. Besides, newly registered and additional FDI capital also reached US$1.8 billion, decreased 44.9% compared to the same period in 2014. This figure was published by the Foreign Investment Agency, Ministry of planning and Investment on March 27th. [The original article is available in Vietnamese only.]

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Vietnam to cut taxes on 3,200 Japanese goods to zero starting April

Tuoi Tre News

Vietnam will reduce the tariffs for 3,234 classes of imports to 0 percent under the Japan-Vietnam Economic Partnership Agreement for the 2015-2019 period, according to the Ministry of Finance. The beneficiaries of the zero tariff are material, machinery, equipment, spare parts, computers, electronics products and raw materials for footwear, textile and garment production. The products must be imported directly from Japan to Vietnam and meet the rules of origin as stated in the Japan-Vietnam Economic Partnership Agreement.

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Thang Long Corporation deploys Highway 38 project

Dau Tu Chung Khoan

On March 27th, Thang Long Corporation has started construction on Highway 38 project from Yen Lenh Bridge to Vuc Vong intersection. The project was implemented in the form of BOT for the joint venture Thang Long Corporation – Civil Engineering Construction Corporation No. 4 Ltd. with the total investment of VND833.2 billion. [The original article is available in Vietnamese only.]

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Urban development project by Dong Nai River suspended 

Saigon Times

The government of Dong Nai Province issued a decision last Friday – March 27th suspending an urban rehabilitation and development project by the Dong Nai River developed by Toan Thinh Phat Company. Earlier on the same day, Toan Thinh Phat asked the provincial government for approval to put on hold this huge reclamation project to await feedback from the Ministry of Natural Resources and Environment, the Ministry of Agriculture and Rural Development and the Ministry of Construction on the impact of the project on the river.

 

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Southern expressway in need of funding

Vietnam News

An investment of VND5.6 trillion (US$261 million) is required to build the first phase of the Bien Hoa-Vung Tau Expressway project, the builder, the Viet Nam Expressway Corp (VEC), has said in a report it sent to the Ministry of Transport. VEC also said it would invest VND639 billion ($17.1 million) from its own funds and the remaining would come from bank loans.

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