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CBRE Vietnam’s Top Property News Stories – W17/2015

Ho Chi Minh City: Investing VND4,200 bln into residential area,Phu Quoc airport lures investors, Vingroup cooperated with the giant – American "Keller Williams", …

CBRE Newspaper Updates on Residential Ads 

 

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  • 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;
    • Melody Residences in Tan Phu District:
      • Total scale is 14,906 sm, total unit is 704
      • Scale is from 66.9 sm to 94.6 sm/plot
      • Price is from VND1.3 bil/unit.       

  • Three new launches:
    • Mulberry Lane – The Crown (Ha Dong District):
      • Units launched: 100
      • Price from VND25 million per sqm (VAT excluded)
      • Unit size: 123 – 154 sqm
      • Promotion: 2 taels of gold as a gift to buyers who place payment on the launching date;
    • City Number One (Hoai Duc District):
      • Units launched: 570
      • Discount 5% for customers who place payment on the launching date
      • Price from VND13 million per sqm (VAT included, semi-furnished);
    • CT2B – CT2C Nghia Do (Cau Giay District):
      • Units launched: 90
      • Price from VND1.1 billion per unit
      • Unit size: 41 – 86 sqm;
  • Advertisement activities:
    • Goldmark city (Tu Liem District):
      • 120 successful transactions in the launching date
      • Price from VND24 million per sqm
      • A modest number of units will be launched soon before the national holiday.

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Vingroup enters exhibition, fair industry

 

Vietnam News

Property developer Vingroup has contributed nearly VND1.5 trillion to become a strategic stakeholder in Viet Nam Exhibition and Fair Centre JSC. This followed its acquisition of an 89.42 per cent stake in the Viet Nam Exhibition and Fair Centre One Member Co. Ltd. (VEFAC). As per the order by PM, an international standard exhibition and fair centre will be built over an area of about 125.79 hectares (ha) on the Nhat Tan-Noi Bai axis in western Ha Noi and will contribute to the city's development.In addition, a new shopping mall and office building will be constructed at 148 Giang Vo Street, which will be spread over an area of 6.838ha.

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Hanoi's house prices increased by up to 10% in the first three months – Ministry of Construction

 

CafeF

According to the Ministry of Construction, in Q1 2015, positive signals have been recorded in real estate market. In Hanoi, condo prices remained almost stable; some projects in prime location which is fitting out increased by 1-3%. In Long Bien, Hai Ba Trung, Dong Da, Cau Giay, Tu Liem, the increase was 3-5%, even 5-10% in some projects. In terms of transactions, the number of successful transactions increased fairly well y-o-y. More specifically, in Hanoi, there had been 4,250 successful transactions, triple the figure for Q1 2014. [The original article is available in Vietnamese only.]

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Hanoi: land clearance compensation on Ring Road No.2 reached more than 100mil/sm

CafeF

Hanoi People’s Committee has approved land prices for site clearance for the project of Ring Road No.2 Construction (Nhat Tan – Xuan La – Buoi – Cau Giay) in Ba Dinh District. For land on Dao Tan Street, the compensation is 100,8 mil/sm (location no.1), 48 mil/sm (location no.2), 39,36 mil/sm (location no.3,4). [The original article is available in Vietnamese only.]

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Vingroup cooperated with the giant – American "Keller Williams"

 

Dau Tu Online

Vingroup has announced it will hold a partner conference on April 20 with Keller Williams, a Global Property Specialist based out of the US at Royal City in Hanoi to explore the possibility of utilizing their services. Vingroup is specifically contemplating a deal with Keller Williams to replace their current management team with respect to its two big projects – Times City and Royal City. [The original article is available in Vietnamese only.]

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Khanh Hoa: Building more than 1,000 social houses

 

Bao Moi

On April 22nd, at the North of Vinh Hai Ward, Nha Trang City, Khanh Hoa, Hoang Quan Group (HCM) has started construction of a social housing project with a large scale. The project is being built on the land which has a total area of 11,000 sm and total investment of more than VND400 billion. According to the latest design, the project consists of 4 blocks, each has 15 storeys. The project will have nearly 1,000 apartments (the area of each unit is about 55-65 sm), with nice layout, wide space between each block. [The original article is available in Vietnamese only.]

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Ho Chi Minh City: Investing VND4,200 bln into residential area

 

CafeF

HCMC People's Committee has submitted the Hiep Phuoc 1 Residential project (Hiep Phuoc port-urban area, Nha Be District) to the Ministry of Construction with a total budget of more than VND4,200 billion, which is developed by Tan Thuan Industrial Promotion Company Limited (IPC). The project has a scale of 29 hectares, to resettle for relieved households of Hiep Phuoc Industrial Park project and to build social housing, houses for workers.  [The original article is available in Vietnamese only.]

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Real estate trading floors must be more than 50sm large 

 

CafeF

According to proposed new rule, real estate trading floors must be more than 50sm large and there must be at least 2 people having job certificate. The prerequisite of transaction center establishment is that at least 2 people have a job certificate; the manager must possess a job certificate and qualified for running the transaction centers. [The original article is available in Vietnamese only.]

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4 more banks join the 30,000 billion credit package 

 

CafeF

State Bank of Vietnam has allowed 4 more joint stock commercial banks to join the program of social housing support according to the decree 02/NQ-CP, including: A Chau Bank, VIB, VietBank and LienVietPost Bank. According to the report by Ministry of Construction, by 15 March 2015, banks have committed 10,967 billion including 6,285 billion that have been disbursed. 14,367 households have joined the program, worth 6,547 billion and 4,525 billion have been disbursed for 14,345 households. 34 projects have joined, worth 4,420 billion. Out of these projects, 31 have received the finance, totaling 1,760 billion. [The original article is available in Vietnamese only.]

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Experts: Forex volatility, bad debt still cause for concern 

 

Saigon Times

Exchange rate fluctuations and bad debts in the banking system remain big worries for the local economy, according to experts who on April 21 start attending the two-day Spring Economic Forum 2015 in the central province of Nghe An. Ha Huy Tuan, vice chairman of the National Financial Supervisory Commission, said this year’s exchange rate would be under more pressure than last year. According to Tuan, the exchange rate is still affected by multiple factors though it was adjusted up by 1% early this year and would not be revised up more than 2% in a year as targeted by the central bank.  

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Clearing some, filling up some: HCMC's odd way with canals

 

Thanh Nien News

While Ho Chi Minh City has been making efforts to clean up its polluted canals, some construction works are filling up others. Riviera Point, a joint venture between the city-based Tan Truong Company and a Singaporean partner, has built an apartment block of which nearly 5,000 square meters is in Ca Cam canal close to the local government office in District 7. Authorities are investigating the violations even as locals have been suffering from severe flooding for some time. Locals said the construction has narrowed the canal resulting in flooding during rains.

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Elevated metro track maybe in service in 2018 

 

Saigon Times

The government of HCMC plans to put into operation the elevated section of Metro Line No. 1 in 2018 before the entire track is complete. The earlier-than-scheduled operation of the over-17-kilometer-long section was announced by Bui Xuan Cuong, director of the HCMC Management Authority for Urban Railways, at a regular media briefing in the city on April 20. Cuong said the authority is weighing plans to operate the elevated track effectively and profitably as it can attract many passengers when it is connected to the stations in the downtown area.

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Phu Quoc airport lures investors 

 

Vietnam Investment News

Heavyweight local investors are racing to secure the rights to operate the Phu Quoc International Airport in southern province of Kien Giang. Imex Pan Pacific Corporation (IPP), chaired by overseas Vietnamese Jonathan Hanh Nguyen, last week became the latest heavyweight rival to T&T Group in the race to secure the right to operate Phu Quoc Airport. Besides T&T and IPP, experts are guessing that Vingroup might be the next investor to express interest in Phu Quoc airport which achieved 46 percent passenger growth last year.

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