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CBRE Vietnam’s Top Property News Stories – W19/2016

Singapore ranks second biggest foreign investor in Vietnam, Three US investors plan $4 billion real estate project in Thu Thiem, Int'l flights coming for Cat Bi Airport…


CBRE Newspaper Updates on Residential Ads

  • No new launch this week.
  • Advertisements:

    • VinHomes Golden River:

      • Site area: 25,29 Ha
      • Coverage ratio: 18,6%
      • Scale: 16 block towers for office, hotel, and apartment units (roughly 3000)
      • Facilities include shopping centre, gym, tropical garden, Vinschool, and Metro station.
    • The Gold View:
    • Price from: 1,9 billion VND for 2 Bedroom unit (70sqm)
    • Coverage ratio: 40% of 2,3 Ha
    • Scale: 2 block towers with 33 floors and 27 floors
    • Year of completion: 2017
    • Site area: 112,585 sqm
    • GFA: 543,731 sqm
    • Scale: 12 blocks with 8000 apartment units – office-tel – Shophouse
    • Facilities include mini-golf, artificial island, tropical garden, and Olympic-sized pool.
    • Site area: 16.939,8 sqm
    • GFA: 10.153,57 sqm
    • Scale: 2 block towers with 17 floors (1 basement and 1 ground floor) and 480 units/tower
    • Facilities include shopping center, spa, kindergarten, and park.
    • River City:
    • Heaven Riverview:


  • Two new launches:

    • Tower B West Bay Sky Residences Ecopark (Hung Yen Province)

      • Date of launched: May 7th, 2016 launched 560 units
      • Average price: from VND23 million per sqm (included VAT)
      • Unit size: 45 – 90 sqm (1-3 bedrooms)
      • Expected completion: 2017
    • Ecolife Capitol (Nam Tu Liem Districy)
    • Date of launched: May 7th, 2016 launched units in 10th and 32nd floor.
    • Average price: from VND25 to 29.5 million per sqm (excluded VAT)
    • Unit size: 45.7 – 152.1 sqm
    • Expected completion: Q2/2017
  • Advertisements:
  • Hateco Hoang Mai (Hoang Mai District)

    • Total land area: 7,032 sqm
    • Scale: 28 floors, 744 units, 2 towers
    • Unit size: 45 – 105.5 sqm (2-3 bedrooms)
    • Average price:  from VND16.8 million per sqm (excluded VAT)
  • Comatce Tower (Thanh Xuan District)
  • Total land area: 6,900 sqm
  • Scale: 2 towers, 21 floors
  • Average price: from VND28-30 million per sqm (included VAT and furniture)
  • Unit size: 144 – 269 sqm (3-4 bedrooms)


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Three US investors plan $4 billion real estate project in Thu Thiem​
Vietnam Investment Review


Steelman Partners, Cantor Fitzgerald, and Weidner Resorts are looking to build a $4 billion multifunctional project in Thu Thiem new urban area. Steelman Partners has been rather active in Vietnam. The company joined the designing team of Grand Ho Tram integrated resort in the southern province of Ba Ria-Vung Tau and Happyland complex in the neighbouring province of Long An. Cantor Fitzgerald provides investment services and is present in 30 markets all over the world. Weidner Resorts is a developer and manager of a multitude of hotels and 5star integrated resorts in the US and Asia.

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​Int'l flights coming for Cat Bi Airport
Vietnam Investment Review

Cat Bi International Airport in the northern port city of Hai Phong has officially welcomed international flights starting from May 11, according to the Civil Aviation Authority of Viet Nam. Cat Bi has been recently recognized as an international airport in accordance with a master plan on the domestic airport network, and another plan on adjustments to Cat Bi Airport approved by the Prime Minister in 2009, and 2012, respectively. The airport is expected to accommodate 2 million passengers per year. At the end of the first quarter of 2017, the second stage of upgrading and extending the airport will be concluded, enabling Cat Bi to handle more modern aircraft.

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LG launches a $1.5 billion project in Hai Phong​


On May 6th, LG Display Vietnam launched its US$1.5 billion industrial complex to produce high-tech screens in the central province of Hai Phong. This is the first time LG Display has poured money into a project out of South Korea’s territory. The industrial complex is the second project conducted by LG in Hai Phong.The investor pledged to complete the project by the end of 2016 and officially go into operations beginning 2017. The project is believed to generate about 6,000 jobs for local people.


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VN, UAE aim to raise bilateral trade to $10b​
Vietnam News

Viet Nam and the United Arab Emirates (UAE) agreed to increase trade promotion activities, facilitate market access and intensify ties between the Vietnamese and UAE Chambers of Commerce and Industry. The move aims to raise two-way trade to US$10 billion in the next few years from the current $6.2 billion. A number of major UAE companies have entered into partnerships with Vietnamese companies on large joint venture projects in the infrastructure, residential, and tourism sectors. For example, Dubai's Emaar Properties and Viet Nam's Bitexco Group are currently undertaking a $1.34 billion project to build a new urban area in HCM City.


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TPP seen going before legislature this July​
Saigon Times


The 14th National Assembly is expected to ratify the Trans-Pacific Partnership (TPP) trade deal at its first session scheduled to take place this July. On behalf of the Government, the Prime Minister will propose the State President present the trade pact to the 14th NA for ratification at its first meeting in July. The deal is expected to help expand Vietnam's gross domestic product (GDP) by US$23.5 billion by 2020 and US$33 .5 billion by 2025, according to the Vietnam News Agency.

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Property giants hunt for golden land

The investment wave of foreign investors acquiring housing projects with prime locations in Hanoi and HCMC has begun from H2-2014 up until 2016, and this trend has become more and more visible. Some notable M&A transactions include Korea-based Lotte Group acquiring Diamond Plaza, Hankyu Realty and Nishi Nippon Railroad investing in Flora Anh Dao project to co-develop it with Nam Long Group, etc. [The original article is available in Vietnamese only.]

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Singapore ranks second biggest foreign investor in Vietnam​
Hanoi Times

According to the Foreign Investment Agency under the Ministry of Planning and Investment, Singapore has now been the second largest foreign investor out of 112 countries and territories investing in Vietnam. In Q1 2016, Singapore-based companies implemented 50 new projects and increased investment levels to 23 existing projects with a total registered capital of over US$ 730 million. Singaporean capital has been also invested in real estate with 81 projects worth nearly 11 billion USD, making up 30% of the total. Additionally, Vietnam is now home to seven Vietnam-Singapore Industrial Parks operating in six provinces.

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Australian-listed casino operator keen to join Lao Cai airport development​
Vietnam Investment Review

At the conference on Lao Cai Investment and Tourism Development 2016 held in the province, Donaco International Limited has expressed interest in joining in the development of Lao Cai airport in the northern mountainous province of Lao Cai. In the field of tourism where Donaco operates, the airport is going to be a great boost. Lao Cai airport is designed to become a 4C standard airport for both civil and military use.


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Vietnam Dealbook: Vingroup, Tan Hoang Minh forge partnership; banks seek higher shareholding for foreign investors

Deal Street Asia



On May 10th, Local property developers Vingroup and Tan Hoang Minh Group reached an agreement to jointly invest in luxury real estate projects across Vietnam. Both are strong players in the northern market of Vietnam. The duo targets at providing real estate assets that are of the same quality as in the Asian region. Additionally, the terms of the partnership were not disclosed.


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Site chosen for mega complex​
Vietnam Investment Review

South Korean company Jimiro has teamed up with local company Dai Tan Phu to co-invest in a $500 million complex in the triangle of land site between Tran Hung Dao, Pham Ngu Lao, and Nguyen Thai Hoc streets in the heart of Ho Chi Minh City's District 1. This area is on the list of over 20 prime locations that the Ho Chi Minh City People's Committee accepted tenders on from eligible financial investors. According to the city's zoning plan, this complex could reach up to 260 metres in height, and will serve multiple functions, including hotels, financial and trading centres, and commercial office spaces.


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Central Group acts to complete Big C acquisition in Vietnam  

Saigon Times

Central Group has agreed to sell a 25% stake in hypermarket chain operator Big C Supercenter Plc in Thailand to its rival TCC Group, a move which is believed to help the former raise funds to complete the purchase of Big C assets in Vietnam. Bangkok Post newspaper reported on the deal based on sources familiar with the matter. The Thai leading retailer, led by tycoon Tos Chirathivat, is expected to raise at least 50 billion baht (around US$1.4 billion) from the sale.

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Important roads open to traffic​

Nhan Dan Newspaper


The Ministry of Transport held a ceremony on May 7th to open to traffic on the National Highway 6 connecting two northern provinces of Hoa Binh and Son La. The construction of the 115km highway began in May 2015 with an investment of over VND6 trillion (roughly US$300 million) sourced from World Bank loans. The same day, Le Trong Tan road stretching from Ton That Tung Street to Lu River was also officially opened to traffic. The Le Trong Tan Street expansion project started on January 9th, 2015 with a total cost of VND224 billion. The road was expanded from 11m wide to 27m-30m wide.

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Haiphong opening up to international trade
Bao Dau Tu

Haiphong is celebrating its 65th anniversary and the city has witnessed a significant change triggered from the infrastructure improvement, particularly the upgrade of Cat Bi Airport, a strong FDI inflows and the recently recovered real estate market. [The original article is available in Vietnamese only.]

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