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CBRE Vietnam’s Top Property News Stories – W30/2015

 Unveiling the new owner of the highest skyscraper in Hanoi, FLC Twin Towers Project to start to be constructed in early August, Work starts on cable-stayed bridge over Long Tau River, Vingroup inks strategic partnership with world's eight leading groups…

CBRE Newspaper Updates on Residential Ads

 

 
  • One new launch:

    • Grand Riverside in District 4:

      • 1st launch on July 19, 2015
      • 300 customers attended the 1st launch
      • Total: 240 units, scale: 49 – 139 sm.
  • The most actively advertised projects are:

    • Linh Tay Tower in Thu Duc District:

      • Open model apartment on August 15, 2015
      • Price: 12.9 mil/sm for all units
      • Total: 300 units, scale: 59 – 82 sm with 2br;
    • Garden Riverside Villas in Nha Be District:

      • Price: from 7.7 mil/sm
      • First payment: 35%
      • Land use certification for every plot.

  • Five new launches:

    • Park Hill Times City – Park 7, Park 8 (Hai Ba Trung District):

      • Launching event: 19 July 2015; more than 1,000 attendees
      • 323 units were sold at the launching event
    • Goldmark City (Tu Liem District):

      • Unit size: 74 – 172 sqm
      • Start price: VND24.5 million per sqm (VAT included, semi-furnished)
      • 1,200 units sold out
    • Imperia Garden (Thanh Xuan District):

      • Unit size: 56 – 174 sqm, 2 – 4BR
      • Start price: VND2.3 billion per unit (VAT excluded)
      • 80% of home value can be financed via VPBank’s loan, interest rates start from 6.9% per annum
    • CT Number One Van Canh (Hoai Duc District):

      • Eligible for VND30,000 billion package
      • Start price: just above VND600 million per unit (VAT excluded)
    • Gemek Tower (Hoai Duc District):

      • Sales gallery now available
      • Start price: just about VND800 million per unit(VAT excluded)

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Vingroup inks strategic partnership with world's eight leading groups

Biz Hub

The signing, carried out in Ha Noi and HCM City, was considered a strategic step in ensuring work on key projects for Vingroup in developing international standards and creating landmarks that will be viewed as part of a modern and integrated Viet Nam.

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Government allays property bubble fears

Vietnam Investment Review

The pick-up of the property market has triggered bubble fears, but State management agencies said the market would be closely watched to prevent it from happening again. The property sector has received increasing capital flows from banks, foreign direct investment (FDI) and overseas remittances from the beginning of this year. Statistics of the State Bank of Viet Nam showed that as of the end of May, credit growth in the property sector was 10.89 per cent, nearly double the overall credit growth of the economy.

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PM okays highway upgrade

Vietnam Investment Review

Prime Minister Nguyen Tan Dung has approved the Dai Ngai Bridge project, which will build 26 bridges on National Highway 60, linking Mekong Delta provinces of Soc Trang and Tra Vinh.

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Work starts on cable-stayed bridge over Long Tau River

Vietnam News

Viet Nam Expressway Company (VEC) held a ceremony on Saturday marking the start of construction on the Phuoc Khanh cable-stayed bridge over Long Tau River in HCM City's Can Gio District. The new bridge, which is a key component of the Ben Luc – Long Thanh Expressway project, is scheduled for completion in three and a half years.

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Resort property market revival woos realty big guns

Vietnam News

From the beginning of this year, investments in resort properties have shown signs of revival after the market crash of 2008, and this led to huge excitement among big developers. Localities with rich tourism potential were receiving massive investment inflows from real estate giants and witnessing vigorous changes.

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Decree could hasten old building refurbishment

Biz Hub

A draft of the much-awaited legislation was the topic of a conference held in HCM City last Friday. According to the HCM City Construction Department, there are 1,244 old apartment buildings in the city, including 533 built before 1975. The process of upgrading them, either by renovating or dismantling and building a new building, has been very slow.

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WB: Vietnam sees highest in five years

VN Economic Times

Assessing the prospects for Vietnam economy this year, the World Bank forecast GDP growth of 6 to 6.5 per cent, inflation of 2.5 per cent, a budget deficit of 5 per cent, and public debt to account for 64 per cent of GDP.

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Feasibility study for Vietnam-Laos railway

VN Economic Times

The Korean Railroad Corporation has been invited to conduct a feasibility study for a project building a 500 km railway from the Vung Ang Economic Zone in north-central Ha Tinh province to the Lao capital of Vientiane.

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Homebuyers concerned about developers' tax liabilities

VN Economic Times

Real estate developers and homebuyers may have lost some sleep recently with a series of revelations about the tax liabilities of real estate enterprises. Of special concern was the Hanoi Department of Taxation’s announcement that it would revoke the project licenses of enterprises owing large amounts of tax, which may affect the issuance of land use rights certificates.

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Developers manipulate housing fund

Vietnam News

Many housing developers are circumventing the law to profit from the national real-estate bailout programme, said vice-chairman of HCM City Real Estate Association, Nguyen Van Duc. The programme was set up to provide homes for low-income earners, but there is evidence that many people with considerable assets are fraudulently taking advantage of the scheme.

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FLC Twin Towers Project to start to be constructed in early August

VN Economy

FLC Group is planning to start the 265 Cau Giay  twin towers project in early August, after the acquisition for less than a month. Talking to the press, Mr. Dang Tat Thang, deputy general director of FLC investment, said companies are rushing to prepare to implement the FLC Twin Towers, new name of the 265 Cau Giay project acting as the focus of the real estate market over the past one week. Thus, along with the clearance, the project 265 Cau Giay escaped prolonged stagnation after the "estate" for more than 4 years from licensed. [The original article is available in Vietnamese only.]

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Unveiling the new owner of the highest skyscraper in Hanoi 

Cafe F

Golden Palace A, the complex of houses, and commercial services as a replacement of the complex of shopping centers, amusement park and Dau Khi tower, has been approved to be developed by an appointed developer. The proposal of Mai Linh Investment Corporation has been considered by Hanoi People’s Committee. [The original article is available in Vietnamese only.]

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