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CBRE Vietnam’s Top Property News Stories – W14/2016

Foreign investors eye Thu Thiem's prime real estate​, US$1.3bn housing stimulus to be extended​, Economic forecasts paint rosy future for VN​…

CBRE Newspaper Updates on Residential Ads

  • Two new launches this week:

    • Citibella 2 (District 2):

      • Date of official launch: April 9th 2016.
      • Total number of units: 84 houses.
      • Average unit size: 175 sqm.
      • Average price: 2.69 billion VND.
    • Vinhomes Golden River (District 1):
    • Date of official launch: April 10th 2016, with total area 25 ha.
    • Total number of units: 3000 units, 1000 units (3 bedrooms), 1500 units (2 bedrooms), 500 units (bedroom).
    • Price from 4 billion VND per unit (from 80 million per sqm).
  • Other advertisements:
  • Diamond Lotus Lake View (Tan Phu District):

    • Including 3 22-storey towers.
    • Various modern facilities: 500 sqm swimming pool, shopping centre, lotus zen garden, sport and recreation centre, and security system.
    • Green Certification LEED.
    • Price from VND 1.4 billion per unit (2 bedrooms).
  • Wilton Tower (Binh Thanh District):
  • 2 blocks with 22 storeys in a total land area of 7,168 sqm.
  • Price from: VND 28 million per sqm.
  • Total number of units: 494 units.


  • One new launch

    • Eco Green City CT1 (Thanh Xuan District):

      • Date of official launch: April 3rd 2016, with total units launched 169 units.
      • Total number of units: 364 units.
      • Unit size: 67.2 – 94.87 sqm (2-3 bedrooms).
      • Average price: VND23.5 – 26 million per sqm.
  • Other advertisements:
  • Pandora (Thanh Xuan District):

    • Total number of units: 364 units.
    • Unit size: 67.2 – 94.87 sqm (2-3 bedrooms).
    • Average price: VND76 million per sqm.
    • Expected bare-shell completion: May 2016.
  • Capital Garden (Hai Ba Trung District):
  • The building has 3 basements & 25 storeys in a total land area of 5,062 sqm.
  • Average price: VND 30 million per sqm.
  • Expected to be handed to customers in April 2016.
  • Unit size: 37-126 sm.
  • Total unit: 550 units.
  • Price from VND19 million per sqm.
  • The TWO Residence (Hoang Mai District):

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Economic forecasts paint rosy future for VN​
Vietnam Net


Vietnam's economy is forecast to continue bouncing back thanks to rise in foreign investment, consumer confidence and credit growth. Focus Economics also projected that Vietnam's economy would grow 6.7 per cent in 2016 and 6.6 per cent next year. Vietnam has become the fastest-growing auto market in Southeast Asia.


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Credit flows into manufacturing sector​

The Saigon Times

More bank loans over the past few years have gone to the manufacturing sector, according to a State Bank of Vietnam (SBV) report. The report said bank credit was increased by 5.3% per year to gain an extra 1% in economic growth per annum in the 2006-2010 period. In reality, loan growth in the five-year period stood at an average 13.5% a year but total outstanding loans totaled only VND4,600 trillion as of the end of 2015. This indicates the quality of credit growth has improved as less capital was needed to fuel economic growth.


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US$1.3bn housing stimulus to be extended​
Vietnam Investment Review

On March 22, SBV submitted a proposal to the Prime Minister regarding completing disbursement for loans committed to households and individuals to buy and rent an apartment, as well as to repair their houses. Prime Minister Nguyen Tan Dung has approved the State Bank of Việt Nam's (SBV) proposal to extend the VNĐ30 trillion (US$1.3 billion) housing stimulus package until disbursement of all associated funds is completed. Dung asked the central bank to complete disbursement of the stimulus package with a preferential interest rate, instead of closing it on June 1.

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Foreign investors eye Thu Thiem's prime real estate​

Vietnam Net

International investment funds are preparing billions of dollars to hunt for land in Thu Thiem area in HCM City to develop long-term real estate projects. The average land price is $3,000 per square meter. In mid-March 2015, the HCM City Infrastructure Investment JSC (CII) met with investors to talk about its projects in Thu Thiem new urban area. CII plans to pour capital to develop infrastructure items in the area, in exchange for which, it will have land for Maria Bay and Thu Thiem Lake View projects covering a total area of 84,255 square meters.

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LG Display will invest $US1.5 billion in Hai Phong 
The Saigon Times

LG Display Co., specializing in producing LCD and OLED for electronic equipments, owned by LG ( Korea ) will pour 1.5 billion US dollars to build factory in Trang Due Industrial Park (Hai Phong). According to information from SHP, after signing the contract and completing the investment procedures, which is expected shortly this April; LG Display will start the construction of the plant and early in 2017 will go into production. Constructing factory OLED screen in Trang Due industrial zone after going into operation is expected to create approximately 6,000 jobs for local workers. [The original article is available in Vietnamese only.]

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Phong Phu-Daewon-Thu Duc starts construction of Green Pearl residential project​
Vietnam Investment Review

Phong Phu-Daewon-Thu Duc Housing Development JSC on April 2 started construction of the Green Pearl project in Hai Ba Trung district of Hanoi. The project has total area of 2.8 hectares, a building density of 37.31 per cent, and includes apartments, shophouses, villas, a kindergarten and an area of services. Saigon-Hanoi Commercial Joint Stock Bank is going to provide finance for the project and for homebuyers.

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Hanoi to begin new bus services between airport and downtown area
Thanh Nien News

Following in Ho Chi Minh City’s foodsteps, Hanoi plans to introduce three new bus routes between Noi Bai Airport and the downtown this quarter with a promise of to-quality services. Three possibly ending destinations are Hoang Cau in Dong Da District, Thong Nhat (reunification) Park, and Nuoc Ngam Bus station in Hoang Mai District. Passengers are likely to be charged VND 40,000 (US$ 1.76) for a one-way trip, much higher than the VND 7000-9000 charged on the two existing routes, which are subsidized by the government.

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Vietnamese realty major Vingroup spent $833.9m on local M&As deals 2015
Deal Street Asia

2015 proved to be a busy year for Vietnam’s property conglomerate Vingroup spent VND18.76 trillion (nearly US$833.9 million) to acquire domestic realty businesses, according to the company’s audited financial statement. The largest ticket-sized deal, closed in December last year, was the acquisition of 100 per cent interest in Hoa Huong Duong Company for VND5.680 trillion. With the deal, Vingroup has garnered a 98.3 per cent voting right in Vinaconex-Viettel Urban Development JSC, the subsidiary of Hoa Huong Duong Company.


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Vingroup spends VND 5,700 billion acquiring a real estate company



According to the consolidated financial statements 2015 (audited) of Vingroup, this unit has spent VND 5,680 billion to buy 100% stake of Sunflower Real Estate Company. The transaction was completed on 30/12/2015. This allows Vingroups to have 98.3% voting ratio in Urban Development Company Vinaconex – Viettel, which is the subsidiary of SunFlower Real Estate. The aim of Vingroup is to develop the potential projects owned by Urban Development Vinaconex- Viettel in Hoan Kiem and Nam Tu Liem. To be more specific, Vinaconex – Viettel is currently a developer of an urban area in Tay Mo and Dai Mo in Nam Tu Liem with a scale of 215 ha. [The original article is available in Vietnamese only.]



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Vietnam Airlines to sell, lease three Airbus 350
Biz Hub

The national carrier Vietnam Airlines has planned to sell and lease back three aircrafts Airbus 350, which will be handed over to the firm in the 2016-2017 period. Vietnam Airlines is also selling two aircrafts Boeing 777 – 2000 ER. The planes have been flying for 13 years. An official from Vietnam Airlines said that the capital invested in the aircrafts had come from the Government's guaranteed loan and commercial loan. Therefore, the carrier will apply the model of sale and lease back to reduce the nation's public debt.


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Adjust planning of nearly 13-hectar-land between Nam Tu Liem and Ha Dong District

Cafe F

Hanoi people’s committee Vietnam has approved a detailed planning in Ngoi – Cau Trai area, located at Nam Tu Liem and Ha Dong district, with a scale of 128,845 sqm and an estimated population of 1971 persons. The planning aims to concretize the general planning of Hanoi in 2013, vision in 2050. Accordingly, the spatial landscape architecture is designed to meet the needs of regional development and harmonization of neighboring buildings. [The original article is available in Vietnamese only.]

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HSBC: SBV likely to delay rate hike​

The Saigon Times


HSBC Bank has projected that the State Bank of Vietnam would delay a rate hike by 12 months to the third quarter of 2017 as the slower growth profile means that inflation will likely remain low. In a report released yesterday, the bank said newly proposed administrative tightening measures should keep credit growth contained, resulting in a moderation in investment relative to 2015. The bank downgraded its 2016 and 2017 gross domestic product (GDP) growth forecasts for Vietnam to 6.3% and 6.6% respectively from 6.7% and 6.8% previously as the year-on-year growth of 5.6% in quarter one was much weaker than expected. HSBC also lowered its 2016 headline consumer price index (CP1) forecast to 1.6%, from 2.9% previously.


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