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CBRE Vietnam’s Top Property News Stories – W29/2016

Sun Group gives Hoa Binh Corp the priority to be the prime contractor, Bitexco buys State stake in Huong Giang Travel​, ODA technical support for construction sector totals 45.6m USD​


CBRE Newspaper Updates on Residential Ads


  • 4 new launches:

    • Riviera Point – The View (District 7)

      • ​Launch date: 23rd July, 2016
      • Scale: 3 tower with 40 floors
      • Unit size: 91 – 105 sqm (2 bedrooms) and 125 – 147 sqm (3 bedrooms)
      • Price: VND 32 – 40 million per sqm (Bareshell and Basic furnished)
    • Diamond Island – Phase 2 (District 2)

      • Launch date: 20th July, 2016
      • Scale: 1 tower with 25 floors
      • Unit size: 55 – 450 sqm (1 – 4 bedrooms)
      • Price: from VND 44.61 million psm (excluding VAT) 
    • Moonlight Garden (Thu Duc District)

      • Launch date: 20th July, 2016
      • Scale: 2 towers with 22 floors
      • Unit size: 68 – 120 sqm (2 – 3 bedrooms)
      • Price: from VND 960 million per 2 bedroom unit
    • Ha Do Centrosa Garden (District 10)

      • Launch date: 23rd July, 2016
      • Scale: 8 towers with 30 floors
      • Unit size: 47 – 240 sqm (1 – 4 bedrooms)
      • Price: VND 19 – 21.5 million per sqm (Basic furniture)

* Prices included VAT

  • No new launch
  • Advertisements:

    • Hateco Hoang Mai (Hoang mai District)

      • Total units: 744 units
      • Scale: two 28-floor building with 1 basement
      • Unit size: 46 – 78 sqm (2 bedrooms) and 80 – 105.5 sqm (3 bedrooms)
      • Price: VND 17.6 – 21 million per sqm (Basic furniture)
    • The Link Ciputra L3, L4 (Tay Ho District)

      • Total units: 198 units each
      • Scale: two 21-floor buildings
      • Unit size: 57.8 – 153 sqm (1 – 3 bedrooms)
      • Price: from VND 38 – 45 million per sqm (Fully furnished) 
    • Hanoi Landmark 51 (Ha Dong District)

      • Total units: 688 units
      • Scale: one 51-floor building with 4 basements
      • Unit size: 76 – 116 sqm (2 – 3 bedrooms)
      • Price: VND 23.5 – 25 miillion per sqm (Fully furnished)
    • Dong Phat Park View (Hoang Mai District)

      • Total Units: 672 units
      • Scale: one 30-floor building with 2 basements
      • Unit size: 68.9 – 93.7 sqm (2 – 3 bedrooms)
      • Price: VND 19 – 21.5 million per sqm (Basic furniture)

* Prices included VAT


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Bitexco buys State stake in Huong Giang Travel​
Vietnam Economic Times


The Bitexco Group has secured the entire State stake in the Huong Giang Travel Joint Stock Company, after signing a strategic cooperation agreement with Thua Thien Hue Provincial People’s Committee. Securing more than 70 percent of Huong Giang Travel allows Bitexco to change Huong Giang’s hotels into international-standard ones. Bitexco committed to investing in projects developing local tourism infrastructure to meet international standard and promoting high quality tourism products that will attract visitors to the city. Local authorities, in turn, committed to supporting and creating favorable conditions for Bitexco to implement investment projects and business within the province.

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NovaLand sees golden opportunity​
Vietnam Investment Review


Domestic developer NovaLand has submitted a proposal to the Ho Chi Minh City People's Committee to be the developer of the golden land area located on 164 Dong Khoi street in the heart of the second city. According to a source from the Ho Chi Minh City Department for Planning and Investment, NovaLand and its subsidiary Nova Bac Nam 79 has set up a joint venture proposing to be the new developer of the project.

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Alvin Chau considering tourism business expansion in Vietnam, Korea​
Macau Business Daily


The boss of local junket operator Suncity Group, Alvin Chau Cheok Wa, is considering expanding his tourism-related business to Vietnam and South Korea through his other controlled-companies, in addition to arranging for possible fund-raising, a filing by Hong Kong-listed Sun Century Group Ltd. indicates. According to the announcement released last week, Sun Century Group, of which the junket boss holds 57.3 per cent of the issued stake, will sell its subsidiary Sun City Group Tourism Ltd to another two subsidiaries named Kingdom Rich and Jumpers Action.

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Trade surplus reaches US$1.7 billion in H1​
The Saigon Times


 Vietnam posted a trade surplus of around US$ 1.7 billion in the first half of this year thanks to strong exports to major markets, including the U.S., the European Union and the Middle East, according to the General Department of Customs. Overall, the country shipped abroad US$82.1 billion worth of goods in the year to June and spent US$80.4 billion on imports. Machinery topped the list of imported products with a combined value of USS 13.1 billion, followed by computers, electronics and parts with US$12 billion.

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ODA technical support for construction sector totals 45.6m USD​
Vietnam Plus


The Ministry of Construction (MoC) is managing 19 technical support projects this year with total committed ODA capital of more than USD 45.6 million. Most of the sum funds capacity and institution improvement efforts. The national committee for ODA and preferential loans requested ministries to promote the effectiveness of ODA and concessional loan use, especially the loan disbursement progress. In the first half of 2016, over USD 2.56 billion of ODA and concessional loans was committed for Vietnam, surging by 61 percent year on year.

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Hanoi Real Estate: 'Big tycoons' massively launch products, 'small tycoons' silently reduce prices
Dau Tu Online


Hanoi’s apartment market has been increasingly ‘heated’ over the race for market shares of real estate giants in the context of sharply rising supplies, making small real estate firms “breath difficultly”.  The first 6 months of year 2016 witnessed a dramatic supply of apartments in Hanoi city with 17,730 units offered in the primary market.  Some of highlighted projects are Vinhomes Metropolis Lieu Giai, TNR Holdings’ Goldmark City, FLC Star Tower, Tan Hoang Minh’s De’Palais de Louis, Gamuda Land’s The Two Residence and Aqua Central.  [The original article is available in Vietnamese only.] 

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Sakai Amiori invests in Phu Ha industrial park
Bao Dau Tu


Viglacera Real Estate Trading Company, owner of Phu Ha Industrial Zone, Phu Tho, and Japan-based Sakai Amiori Company have signed a land lease agreement in the industrial zone. As known so far, Sakai Amiori has been the second Japanese company investing in the Phu Ha IZ since early 2016. [The original article is available in Vietnamese only.] 

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Convenience stores become more popular​


Vietnam Breaking News

A recent survey by Nielsen, a market survey firm, found that with the increasingly faster pace of life and smaller scale of households, Vietnamese nowadays attach much importance to ‘convenience’ when choosing shops. Roberto Butragueno from Nielsen Vietnam commented that retailers need to consider what the roles their stores would play in their omni-channel strategy. Vingroup, which has been developing its retail chains since 2010, reportedly opens two convenience stores (Vinmart+) each day. With 650 Vinmart+s opened by May, it has become the largest convenience store chain in Vietnam.

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Impediment on condominium speculation
Cafe F


In accordance with circular no. 19/2016/TT-BXD, which will be effective from August 15, condominium speculators will have to go through extra procedures before selling apartments to buyers. This will make reselling activities more difficult and complicated, since speculators who own more than 1 unit will have to resign the contract with the developer for each unit they want to sell separately. Furthermore, the procedures of reassigning housing contracts are also tightened. Accordingly, there will be a total of 6 copies of reassigned contracts signed by 2 parties, of which 3 will be handed over to the developer, 1 for the tax office, and 1 for each party and 1 more for the notary public’s office if necessary. [The original article is available in Vietnamese only.] 

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Sun Group gives Hoa Binh Corp the priority to be the prime contractor



According to the agreement recently signed by Sun Group and Hoa Binh Corp, Hoa Binh Corp will be given the priority to be the prime contractor of Sun Group’s many construction projects. Hoa Binh Corp will provide sufficient human resources and equipments to ensure the targeted progress of these projects. Most lately, Hoa Binh Corp was chosen to be the contractor of Sun Group’s Sun Grand City Thuy Khue Residence. Sun Group is owning many hotel and resort projects, including Sun Peninsula Resort, Ba Na Hills Mountain Resort, Novotel Danang Premier Han River, and is looking forward to invest more in Da Nang, Quang Ninh, Phu Quoc, Thanh Hoa. On the other hand, Hoa Binh Corp is a prestigious construction company, which has been the prime contractor for a variety of large-scale projects throughout Vietnam such as VietinBank Tower, Saigon Centre, and in other countries such as Le Yuan Residence (Malaysia) and GEMS (Myanmar).  [The original article is available in Vietnamese only.]

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Hanoi – Vientiane highway to be constructed
Dia Oc Online

On July 13, Vietnam Ministry of Transport and Laos Ministry of Transport discussed about the partnership plan in the next 5 years and initiated the construction plan of Hanoi – Vientiane highway. According to the prefeasibility study by Transport Engineering Design Inc., the total length of the highway is approximately 760km, running across Vientiane – Paksan – Thanh Thuy (Nghe An) – Hanoi. On another note, Vietnam Ministry of Transport and Korea International Cooperation Agency (KOICA) are doing a prefeasibility research on the railway from Vung Ang (Ha Tinh, Vietnam) to Laos’ capital Vientiane. These two routes are of great importance for the transportation between ASEAN countries and within the greater Mekong subregion. [The original article is available in Vietnamese only.]

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