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CBRE Vietnam’s Top Property News Stories – W19/2015

Vietnam gasoline price hike highest in 4 years, Highway Hanoi – Hai Phong Open to traffic – approved by PM, Domestic credit growth climbs to three-year high, Vietnam devalues dong for second time in 2015 to boost exports…

 

CBRE Newspaper Updates on Residential Ads 

                                                                                                   

 

 

  • Two new launches:

    • DreamHome Residence in Go Vap District:

      • Launch on 10th May, 2015
      • Total unit is 450
      • Scale is from 50 to 77sm/ unit
      • Price is from VND777mil/ unit;
    • OrientalPlaza in Tan Phu District:

      • Launch on 9th May, 2015; Expect to hand-over in Q4 2016
      • Scale is  74sm – 76sm – 83sm – 85sm – 90sm -103sm/ unit
      • Price is from VND19mil/ sm;
  • Themost actively advertised projects are:

    • Van PhucRiverside City in Thu Duc:

      • Launch (stage 2) on 16th May, 2015
      • Scale is from 100 to 120sm/ unit
      • Price is from VND15.9 to 16.5 mil/ sm;
    • City Gate Towers in District 8:

      • Total scale is 19,257sm, total unit is 1,092
      • Scale is 67sm – 68sm – 74sm – 86sm/ unit
      • Priceis 1 bil/ unit;

 
  • Two new launches:

    • Trang AnComplex (Cau Giay District):

      • Units launched: 150
      • Price: VND31 to 36 million per sqm;
    • Park View Residence (Ha Dong District)

      • 123 successful transactions on launching date
      • Expected completion: Q2 2016
      • Promotion: customers will get VND35 million as a reward for timely payment
  • The most actively advertised projects are:

    • Goldmark City (Tu Liem District):

      • A total number of 730 successful transactions to date
    • Sun Square (Tu Liem District):

      • The Developer will launch second phase on May 10th; current sales rate: 70%
      • Financial assistance: HDBank to provide loan with interest rate of 3.8% per annum for the first year
      • Expected completion: Q2 2016.
 
 

 

Vietnam devalues dong for second time in 2015 to boost exports

Thanh Nien News

The State Bank of Vietnam devalued the dong for the second time thisyear in a bid to maintain export competitiveness. The central bank cut itsreference rate 1 percent to 21,673 dong a dollar, effective Thursday, it saidin a statement. The Vietnamese currency is allowed to trade as much as 1percent either side of the daily fixing, which was also lowered by 1 percent onJan. 7.

 

 

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Sam Son to build a 100-billion-VND project

Land Today

Hoa People’s Committee has given certificate to the project of high-endeco-tourism site with investment of nearly 1.000 billion VND.  Accordingto the plan, villas, resorts, high-end hotels, conference centre, spa areas,…will be constructed. Developer’s investment is 182 billion VND (20% of totalinvestment). Total constructing time is 8 years, from June 2015 to December2023. [The original article is available in Vietnamese only.] 

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Keangnam Building would be sold at US$800 million

Cafe F

According the newspaper, Hankyung Korean economy, the Qatari sovereign wealth fund  is offering acquisition of Keangnam Hanoi Landmark Tower building with $ 800 million for long-term ownership. [The original article is available in Vietnamese only .] 

 

 

 

 

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FLC to develop VND4trillion resort in Binh Dinh

The Sai Gon Times

According to the Binh Dinh provincial InvestmentPromotion Center, FLC Group Joint Stock Company has got the nod to develop aresort, villa and entertainment complex worth some VND4 trillion (US$186.4million). The center said the Binh Dinh Economic Zone Authority has handed over an investment certificate to FLC to develop the project covering over 300 hectares in the central coast province. The Nhon Ly complex will have golf course, luxury resort, five-star hotel, restaurants, and international-standard conference and entertainment facilities. It will be up and running from 2016.

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Underground car park construction plan in Thong Nhat park was approved

CafeF

On 5/5, Vice Chairman of Hanoi People's Committee sent to Department ofPlanning and Architecture the approval of underground car park construction andtrees planting plan in Thong Nhat Park at 295 Le Duan Street, Hai Ba TrungDistrict and assigned MTV Limited Company to develop it. [The original articleis available in Vietnamese only.]

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Vietnam gasoline price hike highest in 4 years

Thanh Nien News

State-owned Petrolimex, Vietnam’s leading fuel importer and distributor,increased the price of 92-octane gasoline by 11 percent to VND19,230 (US$0.96)per liter Tuesday night. It was the biggest-ever hike in the price of thepopular variety in four years. The price of 95 RON was increased by 10.9 percent to VND19,830.

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Expressway to link booming coastal areas

Vietnam News

A blueprint has been made for a new cross-province expressway linking thebusy port city of Ha Long and Van Don special economic zone. Plans for theproject, worth more than VND11.5 trillion (US$534.8 million), have already been submitted by the People's Committee of northern Quang Ninh Province to the Ministry of Transport for approval. The expressway will be about 60 kilometres long. It will make it easier for containers to travel to and from Ha Long and Van Don – and similarly between Ha Noi and Van Don via Ha Long.

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Highway Hanoi – Hai Phong Open to traffic – approved by PM

VnEconomy

Prime Minister Nguyen Tan Dung has principal approval the conditions to openthe highway to traffic temporarily as well as fees. Transport Department hasinstructed the developer to complete the remainder of the project. The highway is 105.5km long with the beginning point on Ring Road 3, going through Hanoi (6km), Hung Yen (26.5km), Hai Duong (40km) and Hai Phong (33km). [The original article is available in Vietnamese only.] 

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Report outlines forecasts for 2015 economic performance

Vietnam News

The Viet Nam Institute for Economic and PolicyResearch (VEPR) has recently forecast that inflation this year will fluctuateat about 3 per cent due to adjustments in public services, taxes and fees. If no price hike is seen in public services, such as health care and education, environment protection taxes and road fees, the inflation rate will be about 1 per cent. Additionally, prices of basic commodities arc likely to continue to decrease from now until the end of the year, however, a significant change in oil prices will cause pressure on inflation.

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Domestic credit growth climbs to three-year high

Vietnam News

According to the National Finance Supervision Council (NFSC), Vietnam's credit growth rate reached 2.78 per cent in the first four months this year the highest in three years. The NFSC noted that the loan-to-deposit ratio in February was 84 per cent. It added that the country's economy has experienced a clear recovery with macroeconomic stability that has encouraged rapid and sustainable growth.

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