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CBRE Vietnam’s Top Property News Stories – W27/2015

  

Firm approved to build Vietnam’s new tallest building in Saigon, Viet Nam launches portal to assist foreign investors, HCM City to spend big on infrastructure, Vincom trade center opens in Danang…

CBRE Newspaper Updates on Residential Ads

 

 
  • The most actively advertised projects are:

    • Duong Hong Garden House in Binh Chanh District:

      • Launch townhouses on June 26th, 2015
      • Price is from VND16.6 mil/sm
      • Infrastructure was completed;
    • Soho Riverview in Binh Thanh District:

      • Total unit is 105
      • Price is from 1.6 bil/unit
      • Scale is from 58 to 117sqm/unit;
    • Landmark 4 & 5 in Binh Thanh District:

      • Price is from 1.9 bil/unit
      • Size is from 50 – 109 sm/unit with 1br – 3br
      • Payment 30% to hand over.

  • Three new launches:

    • Park Hill Times City (Hoang Mai District):

      • Block: Park 2
      • Unit sizes: 73.3 – 136.1 sqm (2BR – 4BR)
      • Financial support: 70% of home value could be financed via Techcombank’s  loans (0%, tenure: 24 months);
    • Eco-Green City (Thanh Xuan District):

      • Start price: VND26 million psm (VAT included)
      • Financial support: 75% of home value can be fiananced via bank loan provided by Lien Viet Post Bank with only 7% per annum interest rate for the first year
      • Expected completion: Q2/2017;
    • Goldmark city (Tu Liem District):

      • Unit size: 68 – 161 sqm (2BR – 4BR)
      • Expected completion: Q1/2017
      • Cash back: 1.5% per month of home value will be refunded to buyer if developer fails to handover on time.

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Obama signs fast-track trade, worker assistance bills into law

UPI

WASHINGTON, June 29 (UPI) — U.S. President Obama signed laws giving him fast-track trade authority and granting workers assistance on Monday, saying they give the United States a "competitive edge in this new economy."
Obama signed the Trade Promotion Authority (TPA), which will allow him to finish negotiating the Trans-Pacific Partnership, which would tie the economies of countries of Asia's Pacific Rim to those of the United States, Canada, Mexico, Peru and Chile to give the United States increased influence throughout the region.

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Firm approved to build Vietnam’s new tallest building in Saigon

Thanh Nien News

Ho Chi Minh City has approved the construction of a property mix which will include the country’s tallest tower at 86 stories.
The city government on Tuesday gave its permit for the US$1.2 billion investment to Empire City, a joint venture between several local firms and the Denver Power Ltd. from the UK.

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PM agrees to broaden foreign ownership cap

Vietnam Investment Review

Foreign investors will be allowed to own up to 100 per cent of asset management firms and securities companies in Vietnam, instead of the existing cap of 49 per cent. Minister of Finance Dinh Tien Dung last week confirmed that the new decree to replace Decree No58/2012/ND-CP would be effective on September 1.

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Viet Nam launches portal to assist foreign investors

Vietnam Investment Review

The Foreign Investment Agency of Viet Nam launched the third phase of E-regulations system on June 29. Available at vietnam.eregulations.org in English, Japanese, and Chinese languages, the site provides step-by-step guidelines on investment procedures to help foreign investors with information on investment activities and business operations in Viet Nam.

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Consortium keen on Thu Thiem 4 bridge

The Saigon Times

A consortium comprising three local companies has proposed building a fourth bridge that connects to the planned Thu Thiem new urban area. The consortium said Thu Thiem 4 bridge would create a traffic link between the southern and eastern parts of HCMC.  

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HCM City to spend big on infrastructure

Vietnam News

The HCM City Infrastructure Investment Joint Stock Company (CII) and the city's People's Committee broke ground for a project to develop infrastructure in a residential area located in the northern section of Thu Thiem Peninsula in HCM City's District 2.

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HCM City reveals final metro routes

Vietnam News

Preparations to build three metro lines in HCM City at a cost of nearly VND92 trillion (over US$4.2 billion) have been finalised, according to the HCM City Management Authority of Urban Railways.

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Warburg Pincus consortium adds $100m as follow-on investment in Vincom Retail

Deal Street Asia

A consortium led by an affiliate of global private equity group Warburg Pincus has added a follow-on investment worth approximately $100 million in Vincom Retail, bringing to the total funding to $300 million. Jeffrey Perlman, managing director of Warburg Pincus, believes Vincom Retail is poised for a strong growth over the next five years, bolstered by the economic prospects on the back of continued urbanisation and emerging middle class consumption.

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Lotus Residences offers townhouses along Ha Long beach

Vietnam Investment Review

The commercial and resort project at a prime location offers a valuable and rare opportunity for those seeking to own a townhouse along Ha Long beach, Syrena Viet Nam Sales Manager Pham Van Nam stressed. With 159 four-storey townhouses built in modern and environmentally friendly design and offering a view of sea, Lotus Residences together with Little Vietnam – the project featuring the country's most original architectural styles – is expected to create a bustling commercial, cultural, and tourism destination in Ha Long City.

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Vincom trade center opens in Danang

The Saigon Times

Vingroup Joint Stock Company (Vingroup) on June 30 inaugurated a commercial center on Ngo Quyen Street in the central coastal city of Danang after seven months of construction.
The Vincom Ngo Quyen facility covering over 40,000 square meters with four floors and one basement sells clothes and accessories, cosmetics, books, household appliances and other items of brands like Adidas, Ecco, Valentino Creations and PNJ.

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Greece’s Debt Crisis Explained

The New York Times

The question of how to save Greece, debated for more than five years, is the European Union’s recurring nightmare. If the country goes bankrupt or decides to leave the 19-nation eurozone, the Greek debt crisis could create instability in the region and reverberate around the globe.

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