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CBRE Vietnam’s Top Property News Stories – W16/2015

Key highway section to open on May 19, Hoang Quan sells the apartment which is put as security, Flamingo Dai Lai Resort to launch resort villas, ParkCity Hanoi to invest VND200 billion in facility construction

 

CBRE Newspaper Updates on Residential Ads 

 

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  • One new launch:

    • Citihome – Block B  in District 2:

      • Launch on April 18th 2015
      • Sale unit is 79, scale is from 61 to 84 sm/unit
      • Price is from 858 mil/uni 2 bedroom;
  • The most actively advertised projects are:
  • 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;
  • 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.        

  • Three new launches:

    • Goldmark City (136 Ho Tung Mau – Tu Liem District):

      • Launched on April 11th
      • Price from VND24 million per sqm (VAT included, semi-furnished);
    • Park Hill Times City – Block Park 6 (Hoang Mai District):
    • Launched on April 12th
    • Unit size: 78.2 – 143 sqm, 2 – 4 bedrooms
    • Customers may earn 7%/annum interest rate based on their prepayment’s amount and period;
    • Launched on April 11th
    • On behalf of home’s owners, the Developer guarantees to lease out the apartments for 24 months at VND13 – VND30 million per month;
    • Royal City – Block R6 (Thanh Xuan District):
  • Advertisement activities:
  • Mulberry Lane – The Crown (Ha Dong District):

    • To be launched on April 19th
    • Price from VND25 million per sqm
  • The Sun Avenue (HCMC – District 2) to be launched in Hanoi
  • Estella Heights (HCMC – District 2) launched on April 10th and 11th  in Hanoi

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WB report ups growth forecast to 6% in 2015

Vietnam News

The Vietnamese economy is set to grow by 6% this year, according to the East Asia and Pacific Economic Update. The rate is 0.5% higher than the bank's projection last October. After some turbulence in mid-2014, Viet Nam's economic performance rebounded and year-end growth exceeded expectations. At the heart of this comeback was stronger macro-economic fundamentals, solid foreign direct investment (FDI) in manufacturing and exports from the sector, and key business climate improvements. Although economic growth was improving, the World Bank warned that Viet Nam was still performing below its potential, due to slow-moving structural reforms, especially in the banking sector and SOEs.

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Vietnam's Vingroup says buying Vinatex's supermarket chain

Thanh Nien News

Vietnam's leading property developer Vingroup is buying all of garment producer Vinatex's shares in a subsidiary, enabling it to take over 39 supermarkets. The move is part of Hanoi-based Vingroup's expansion plan in the retail sector where it aims to open 100 supermarkets and 1,000 convenience stores over a three-year period starting 2014, the company said in a news release. Vingroup did not disclose the value of the deal. VIC shares were up 2.2 percent at 47,100 dong ($2.18) each at 0426 GMT on Friday.

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Hoang Quan sells the apartment which is put as security

Tuoi Tre News

In spite of having all the necessary qualifications and already purchasing social houses, hundreds of buyers who bought social house project – HQC Plaza (Binh Chanh District, Ho Chi Minh City) developed by Hoang Quan Consulting – Trading – Service Real Estate JSC (HQC), still have not received any funding from  30.000 billion package. Therefore, these buyers must sign a contract appendix with the developer in order to use deferred payment form and have to pay 6-12% interest rate. In an interview with Tuoi Tre Newspaper, many buyers in this project have expressed concern about the risk of buying apartments which have been mortgaged to the bank. [The original article is available in Vietnamese only.]

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Mulberry Lane to launch high-end condos

CafeF

High-end condos at The Crown Building, Mulberry Lane is to be launched on 19 April with the starting price of VND25 million/m2. The developers are CapitaLand and Investment and Infrastructure Development Hoang Thanh Company. Located in Ha Dong District, the new political centre, The Crown Mulberry Lane possesses some advantages in terms of location. Besides, facilities are various, ranging from swimming pool, indoor gym, outdoor gym,… [The original article is available in Vietnamese only.]

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Flamingo Dai Lai Resort to launch resort villas

CafeF

On 19 April 2015, resort villas cluster named Forest is to be launched. The price range is from VND2.2-3.2 billion/unit. The Forest Villas contain 42 units adjacent to the central lake and a wide range of facilities: library, night club, outdoor bars and restaurants, outdoor swimming pools,… The resort is situated in Vinh Phuc, taking 33 minutes to reach from Hanoi, 15 minutes from Noi Bai Airport. In the near future, new constructions will be completed: Forest Restaurant, 9-hole golf course,… and many constructions are being planned (36-hole golf course, 1000-seat restaurant, indoor entertainment centre,… [The original article is available in Vietnamese only.] 

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Goldmark City phase 2 to officially launch

VnEconomy

Goldmark City phase 2 was officially launched on 11 April with starting prices of VND24 million/m2. During the first launch, 80 transactions were made successfully. Up until 11 April, Ruby building’s 3rd floor was finished and it is calculated that it takes about 8-10 days to finish one floor. On 15 May, second payment will be made (a payment of 10% of the apartment value). [The original article is available in Vietnamese only.]

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Khang Dien to launch Mega Village project 

Bao Moi

Following the success of Mega Residence, Mega Ruby, Mega Sapphire, on April 18th Khang Dien House Trading And Investment JSC will official launch Mega Village, price is from 2.45 billion per unit (exclusive VAT). This project located at Vanh Dai Trong, District 9.  Thus far, Mega Village has completed, the whole project was issued House Ownership. [The original article is available in Vietnamese only.]

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Cooperating to distribute The Sun Avenue project between Novaland and STDA 

VnExpress

In the morning of April 14th, a Signing Ceremony to distribute apartments in the project The Sun Avenue between Novaland and STDA Real Estate Project Supermarket System had been carried out at Daewoo Hotel (360 Kim Ma Street, Hanoi). Apartments in SAV2 Tower of The Sun Avenue project developed by Novaland will be exclusively distributed by STDA in the North. According to a representative of Novaland, this cooperation is one of its development strategies in order to bring the best products to more buyers, especially buyers in the North. [The original article is available in Vietnamese only.].

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ParkCity Hanoi to invest VND200 billion in facility construction 

CafeF

The area of facilities of ParkCity Hanoi has received additional investment (by 7 times higher than planned ~ VND200 billion). In Nadyne Gardens, all of 177 houses were sold and 100 families have moved in so far. The facility area is named ParkCity Club which contains 2 outdoor swimming pools, 1 indoor pool, sauna, indoor playground for children, indoor badminton courts,… This lot was first planned to build an apartment complex but the investor had decided to build more facilities to serve residents. ParkCity Club is expected to be completed in 2016. [The original article is available in Vietnamese only.].

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Lack of housing delays site clearance

Vietnam Investment Review

Many of 13 key infrastructure projects in Ha Noi given priority because of their significant socio-economic impacts, have been delayed because of trouble in clearing sites. This, in turn, has been caused by a lack of resettlement homes to place dislocated residents. While key infrastructure projects needed a total VND6,800 billion ($314 million) for site clearance, the city's budget could provide only VND2,800 ($129 million).To fill the shortfall, the city is expected to issue Capital Building bonds this year worth VND4,000 billion ($185 million). The first issue is scheduled for the second quarter of this year totalling VND2,000 billion ($92.6 million), the official said.

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Key highway section to open on May 19 

Vietnam News

Ha Noi-Hai Phong Highway will open to the public between Hai Duong and Hai Phong on May 19. The project's investor, the Viet Nam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI), asked for permission to collect tolls starting from that date. The proposed fee would be VND1,500 (US 7 cents) per kilometer. The rest of the Ha Noi-Hai Phong Highway, about 76km long, should open by August.

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Quang Ninh instructed to invest in two billion-worth highway projects 

VnEconomy

According to the approval of PM, Quang Ninh People’ Committee is enabled to appoint developers for two projects: Ha Long – Van Dong highway and Highway No.18 Upgrade in the BOT framework. The former is 59.38km long with the route being Cai Mam – Son Duong – Mong Duong – Van Don and investment of VND12,650-14,392 billion. On the other hand, the latter is 25.6km long and requires the investment of VND1,900 billion. The expected ground breaking date is 19 May 2015.[The original article is available in Vietnamese only.]

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