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CBRE Vietnam’s Top Property News Stories – W15/2015

Vietnam to stand 3rd in world’s fastest-growing affluent populations in 2014-2020: report, Official launch of New Horizon – 87 Linh Nam,SC VivoCity mall to open in a fortnight  Realty association sets up brokerage,Toyota to consider ending manufacture in Vietnam,…

 

CBRE Newspaper Updates on Residential Ads 

 

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  • One new launch:
    • Mega Village in District 9:
      • Launch on April 18th 2015
      • Total unit is 323. Scale is from 75 sm/unit
      • Price is from 2.6 bil/unit;
  • The most actively advertised projects are:
    • 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;
    • Dai Phuc River View in Binh Thanh District:
      • Total scale is 40,249 sm, total unit is 209
      • Scale is from 68 sm to 100 sm/plot
      • Price is from 24.5 to 26.5 mil/sm        

  • Two new lauch:
    • New Horizon in Hoang Mai District:
      • Launched 159 units of N01 and N03
      • Financial support: BIDV Bank to provide loans of up to 85% of apartment’s value, duration of 20 years with low interest rate.
    • Block A – CT36 Dream home in Hoang Mai District:
      • Launched 280 units
  • Advertisement activities:
    • The Capital Garden in Dong Da District:
      • 60 units sold
      • Although the building is almost completed, developer still apply 6 payment term for customer and financial support by BIDV Bank (70% of apartment’s value in 20 years with 7,5%-8,5% per year)

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Toyota to consider ending manufacture in Vietnam

 

Thanh Nien News

Toyota, the world’s largest car maker, is considering whether to end its manufacture in Vietnam when import taxes become zero under a regional agreement in 2018. Last year Toyota sold 41,205 cars, up 24 percent from the previous year and accounting for a 31 percent market share. Toyota has produced 305,780 cars in Vietnam but yet there are only 18 local components manufacturers who supply 270 parts. It is clear that Toyota cars made in Vietnam will not be able to compete with those imported from Thailand or Indonesia when the import tax goes.  

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HAG, Rowsley call off $550m Myanmar project

 

Vietnam News

According to HAG, due to a high tax of up to 40 per cent imposed on capital transfers in Myanmar, as opposed to 22 per cent in Viet Nam, the company declined the proposal and the two companies agreed to discontinue the contract. the breakdown of the contract between the two companies will not have negative impacts on the complex's development in Myanmar. The office building and hotel are still slated to open this June, while the shopping centre will likely open in September.

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Realty association sets up brokerage

Dau Tu Chung Khoan

The Viet Nam Real Estate Association (VNREA) will establish a brokerage branch to support, represent and protect the rights and interests of organisations and businesses dealing with real estate brokerage. The branch was introduced at the VNREA annual meeting in the central port city of Da Nang recently. Head of the Construction Ministry's Housing and Property Market Department Nguyen Manh Ha accepted his posting as the branch's chairman. [The original article is available in Vietnamese only.]

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SC VivoCity mall to open in a fortnight  Realty association sets up brokerage

 

BizHub

SC VivoCity Shopping Mall, which opens on April 19 in HCM City's District 7, is touted as a one-stop family-lifestyle-destination mall for both locals and expatriates. Jointly owned by leading local retailer Saigon Co.op and Singapore real estate developer Mapletree Investments Pte.Ltd, the US$100 million, five-storey mall will have retail, dining, entertainment, and shopping options

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The golden land plot '9 Dinh Le' to be offered at VND70 billion

 

Land Today

Because the contract is about to expire in 11 years (until 2026), Vinexad wants to sell its headquarter at VND70 billion. However, after 2 years since the official offer, the lot remains in silence. Because no building exceeds 28m high in the lot and the project will require huge investment, no partner shows their interest. At the same time, the city’s rents are increasingly higher. As a result, the price is lowered to VND63 to 70 billion. [The original article is available in Vietnamese only.]  

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Official launch of New Horizon – 87 Linh Nam

 

Land Today

On Apr 4, Ez Vietnam officially launched New Horinzon Hanoi Hilton. The project is located on 87 Linh Nam, close to Vinhomes Times City – the area which have modern infrastructure, schools and hospitals. With total area of 2 hectares, New Horizon City has a large area enough to develop a complex life with services and amenities such as swimming pools, trees, nursery school, gym, room community activities, supermarkets, gardens, etc. New Horizon City is designed with 4 blocks, 2 basement parking and 1,244 apartments. [The original article is available in Vietnamese only.]

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Hai Duong to have a new eco-residential area

 

CafeF

Hai Duong People’s Committee has approved the project Thanh Cong Eco-Residential Area in Kinh Mon, which is in the north east of Hai Duong. The first phase of the project will cover an area of 35.92 ha and the developer is Thanh Cong JSC. [The original article is available in Vietnamese only.]

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Binh Duong Province : Start of construction of additional 10,000 social apartments, a motivation of local urbanization process

 

Ministry of Construction

On April 3, at the social housing area Hoa Loi in Thu Dau Mot City, the city's People Committee inaugurated 5,000 social houses of Becamex Phase One and ground-broke the development of 10,000 social houses of Becamex Phase Two. The Becamex Phase One project offered shelter for over 15,000 people who are living and working in Binh Duong Province.

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New Mekong Delta highways to cut travel time to HCM City

 

Vietnam News

The most important segment of the Mekong Delta highway system, the My Thuan – Can Tho highway, will kick off by the end of the year. The highway in the delta will link the region with HCM City and the southern key economic region. By 2017, the road will connect with Vam Cong bridge, which links Dong Thap and Can Tho provinces, and Cao Lanh bridge. When completed, these projects will create the second key road system along with the current National Road No 1.

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Vietnam to stand 3rd in world’s fastest-growing affluent populations in 2014-2020: report

 

Tuoi Tre News

According to a report released recently by The Economist Intelligence Unit (EIU), Vietnam is projected to stand third in the group of countries with the fastest growth rate of affluent population globally which are households with financial assets of US$100,000 to $2 million, in the 2014-2020 period. The total assets of the Vietnamese group will top $68.1 million, or about $196,500 each household. However, in terms of quantity, the number of NWBs  in Vietnam is still modest compared with other countries in the region such as China (over 166 million), India (over 4.9 million), Philippines (about 2.5 million), Thailand (nearly 2.2 million), and Indonesia (nearly 1.9 million).

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World Bank debars Louis Berger Group

 

Vietnam Net

The World Bank has debarred American architectural and engineering design firm Louis Berger Group, Inc. (LBG) for one year for allegedly bribing government officials under two WB-financed projects worth around US$500 million in Vietnam. The WB also imposed a one-year conditional non-debarment on Berger Group Holdings, Inc. (BGH), LBG’s corporate parent. According to the WB, LBG bribed government officials in the Third Rural Transport and Da Nang Priority Infrastructure Investment projects.

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Vietnam reviews bid packages of South Korea’s Posco after ex-CEO arrest

 

Tuoi Tre News

South Korea’s Posco Group will have all of its construction bid packages in Vietnam reviewed following the arrest of an ex-CEO of one of its units, which has implemented several projects in the country, a Vietnamese transport official said Friday.

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