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CBRE Vietnam’s Top Property News Stories – W26/2016

Foreigners buy houses in Vietnam as green light turns on​, Chinese tourists spurring Vietnam's economy​, UAE eyes Vietnam’s untapped potential​, …

CBRE Newspaper Updates on Residential Ads
       

  • 1 new launch:

    • Carillon 5 (Tan Phu District)

      • Date of official launch: 1st, Julu, 2016
      • Total area: 3900 sqm, with 19 floors, 2 basements
      • Total unit: 221 units
      • Price: from VND 850 million per unit
  • Advertisements:
  • Vinhomes Gold River Bason (District 1)

    • Consists of 60 storeys and 4 basements
    • Total construction area is 24 ha (expected)
    • Highest price: VND500 million per sqm
  • River City (District 7)
  • Total units: 8.000 units (officetel – shophouse) with 12 blocks
  • Total size: 112.585 sqm
  • Average price: VND 33 million per sqm
  • 2 blocks with 27 storeys in a total land area of 7,168 sqm
  • Price from: VND 33 million per sqm (not included VAT)
  • Total number of units: 1905 units
  • The Gold View (District 4)


* Prices included VAT
       

  • 3 new launches:

    • FLC Twin Towers (Cau Giay District)

      • Unit launched: 420 units
      • Scale: one 38-floor and one 50-floor buildings
      • Unit size: 97 – 127 sqm (2 – 3 bedrooms)
      • Price: VND 34 – 36  million per sqm (Fully furnished)
    • Golden Field (Nam Tu Liem District)
    • Unit launched: 158 units
    • Scale: one 30-floor building with 3 basements
    • Unit size: 70 – 124 sqm (2 – 3 bedrooms)
    • Price: VND 27 – 33 million per sqm (Fully furnished)
    • Scale: two 29-floor buildings
    • Unit size: 64 – 69 sqm (2 bedrooms)
    • Price: VND 32 – 34 million per sqm (Basic furniture)
    • Central Field (Cau Giay District)
  • Advertisements:
  • Xuan Phuong Foresa Villa (Nam Tu Liem District)

    • Total land area: 38 ha
    • Scale: 813 units of villas, terraced houses and shophouses
    • Unit size: 70 – 120 sqm for terraced houses and 130 – 250 sqm for villas
    • Price: VND 35 – 55 million per sqm (Without furniture)

* Prices included VAT

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Vietnam’s GDP increases 5.52% in first half of 2016​
Nhan Dan

The gross domestic product (GDP) of Vietnam in the first half of 2016 was estimated to have risen by 5.52% over the same period last year, announced by General Statistics Office (GSO) in Hanoi on June 28. GSO General Director Nguyen Bich Lam said that there were signs of GDP stagnation for several reasons, including changes in the world economic situation and negative impacts of unexpected weather, drought and saltwater intrusion in southern provinces, particularly in the Mekong Delta region. Additionally, real estate increased 3.77%, the highest level over the past five years.

 

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​Vietnam attracts over 11 billion USD FDI in first half of 2016
Vietnam Plus

According to the Foreign Investment Agency (FIA), the total foreign direct investment (FDI) registered in Vietnam in the first half of the year reached more than US$11.2 billion. This is marks a surge of 105% against the same period last year. Of the total, US$7.5 billion came from 1,145 newly licensed projects, representing a yearly increase of 95% in capital and 56% in the number of projects. Additionally, the real estate sector, with 25 projects holding total capital of US$ 604.8 million, accounting for 5.3% of the total FDI.

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Foreigners buy houses in Vietnam as green light turns on​
Vietnam Net

An analyst commented that the real estate projects developed by Japanese and South Korean investors receive high attention from Japanese and South Korean citizens. The Eastern apartment block in district 9, HCM City, for example, attracts many South Korean buyers. A high percentage of South Korean citizens choose to live there, though they have to travel long distances every day to the central area of the city, where their offices are located. According to Hong Soon Chang, South Korea Deputy Consul General in HCM City, about 850,000 South Korean people come to Vietnam every year.

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This is the hottest area in Saigon market in late year 2016
Bat Dong San

In Q2-2016, the real estate market in HCMC's Tan Phu District witnesses a boom with the emergence of many projects developed by property giants. Vast land fund, reasonable housing prices, hot market, as well as significant improvements in term of traffic infrastructure, are the main reasons that ignite the property fever in West Saigon. Dozens of projects launched for sale in recent time include: 3-generation apartment project Valeo Dam Sen, Celadon City, Trung Dong Plaza, Au Co Tower, Invesco Babylon, Southern Dragon, Central Park…, providing to the market about 10,000 apartments. [The original article is available in Vietnamese only.]

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Hanoi reveals 108-storey financial tower planned for Nhat Tan-Noi Bai route​
Cafe F

Hanoi People's Committee held a ceremony at the Dong Anh district on June 23 to announce a detailed master plan for the Nhat Tan-Noi Bai route, also known as Vo Nguyen Giap road, located in the districts of Dong Anh and Soc Son. According to the plan, the route has a total length of 11.7 km beginning at Noi Bai Airport and ending at Nhat Tan Bridge, and spanning an area of 1,810 hectares of 13 communes in Dong Anh and Soc Son districts, with the highlight of Phuong Trach financial skyscraper which is up to 108 floors. An estimated 33 trillion VND (1.55 billion USD) will be required for investment in infrastructure and land clearance which is expected to be completed by 2025. [The original article is available in Vietnamese only.]

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$1.6 billion Amata City Halong comes closer to implementation 
Vietnam Investment Review

Amata Vietnam and Tuan Chau Group have officially decided to establish Tuan Chau-Amata joint venture to develop a $1.6 billion industrial park and the Amata City Halong complex in the northern province of Quang Ninh. According to the initial plans, the 5,800 hectare complex will featur a high-tech industrial park, an accommodation area, and a multifunctional area including a hospital, schools, exhibition area, a shopping centre, and an amusement park. Amata Vietnam CEO Somhatai Panichewa said the park would solicit investment into research and development facilities, logistics, and exhibition centres as well as scientific laboratories.

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Vietnam: Success Dragon drops deal; Daesang to buy Duc Viet; Kido ups Vocarimex stake
Deal Street Asia

Hong Kong-listed gaming services firm Success Dragon Holdings Ltd has terminated the deal to acquire a 45 per cent stake at a five star hotel in central Vietnam, according to a regulatory filing. The company backed out of the $14.13 million acquisition of the entire issued share capital in Vabis Building Consultants Engineering Ltd through which it would have had a 45 per cent interest in One Opera Danang Hotel, a luxury hotel and commercial complex located in Danang. Success Dragon said its vendor (identified as businessman My Ngoc Nguyen) “has difficulty in obtaining the requisite consent for the implementation of the reorganisation”

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Vingroup's new resorts in Nghe An and Ha Tinh

BizHub

Property developer Vingroup broke ground with Vinpearl Cua Hoi in Cua Lo commune, Nghe An province and Vinpearl Cua Sot in Loc Ha commune, Ha Tinh province on Sunday. The two five-star complexes will consist of hotels, amusement parks and resort villas. Located on the coast of Xuan Hai beach, with the most beautiful view of the central region and close to famous Huong Tich pagoda, the 16ha Vinpearl Cua Sit has a luxury Clubhouse area while the 39-ha Vinpearl Cua Hoi has a modern, five-floor luxury hotel.  In addition, both projects have four-season indoor and outdoor pools, restaurants, gyms and amusement parks.

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UAE eyes Vietnam’s untapped potential​
The National

Bilateral trade between Vietnam and the UAE increased by 27 per cent to $6.1bn last year, and on top of this, another $5bn came through various UAE free-trade zones. Mr. Pham Binh Dam, Vietnam’s ambassador to the UAE expects bilateral trade to grow by a further 15 per cent this year to $7bn, and to hit $11bn by 2020. Vietnam’s GDP growth in recent years has ranged between 5 and 8 per cent, but is expected to increase to 6.5 per cent this year, up from 6.2 per cent last year. The bulk of bilateral trade that took place between the UAE and Vietnam last year – $5.7bn of the $6.1bn – came as a result of Vietnamese exports to the UAE, and Mr Pham said the trade relationship was largely complementary, with little competition between sectors.

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Foreign Retailers Aggressively Grab Market Share​

Vietnam Business Forum

Vietnam has been witnessing an intense race among domestic and foreign enterprises in the retail market, where the average growth rate for the past six years was about ten percent. Besides local businesses such as Saigon Coop, Vingroup, Hapro, many big retailers have been continuously expanding their market shares; notably among them are Lotte Mart, Aeon, Metro and Big C.

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Chinese tourists spurring Vietnam's economy​
China Daily

 

The influx of Chinese visitors to Vietnam, mostly to Hanoi, the northern province of Quang Ninh, home to the World Heritage site of Ha Long Bay, and central coastal provinces such as Khanh Hoa, home to Cam Ranh Bay, and Da Nang, has been mainly attributed to beautiful landscapes, more diversified tourism services, rich cultural heritage, better infrastructure and more direct flights between the two countries.Vietnam received more than 3.2 million foreign visitors in the first four months of this year, posting a year-on-year rise of 17.8 percent, announced the country's General Statistics Office. Specifically, Vietnam welcomed 789,500 Chinese visitors, up 47 percent.

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FOR MORE INFORMATION,CONTACT:

 

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen
Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

 
 
 

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