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CBRE Vietnam’s Top Property News Stories – W31/2016

$6 bln for Saigon Peninsula project, French group wants to develop highways in Vietnam, Hanoi announces transport plan to 2030​, …


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    • An Phu Apartment Complex (District 6)

      • Consists of 25 storeys and a parking basement of 4000 sm.
      • Total unit: 279 units
      • Price from VND 1.67 billion for 2 Bedroom unit
    • Diamond Lotus Lakeview (Tan Phu District)
    • Total towers: 3 blocks with each block having 22 storeys
    • Total size: 16.800 sqm.
    • Amenities: 400 sqm. pool and a 5.000 sqm. sky park connecting 3 towers on 22nd floor
    • Total land area: 18,333 sqm
    • Unit sizes: 46 – 74.24 sqm (2-3 bedrooms)
    • 3 blocks, 15 – 18 storeys
    • Price: from VND756 million/unit
    • Sky 9 (District 9)

* Prices included VAT

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    • Vinhomes Metropolis (Ba Dinh District)

      • Total units: 1,000 condos, 11 sky villas, 5 penthouses
      • Scale: one 41-floor building and two 45-floor buildings with 4 basements
      • Unit size:

        • Condo: 55.52 – 146.19sqm (1 – 4 bedrooms)
        • Sky villa: 291 – 501 sqm
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      • Price: VND 65 – 75 million per sqm (2 – 3 bedrooms); 92 – 98 million per sqm (4 bedrooms) (fully furnished)
    • Vinhomes Thang Long – Long Phu Villa (Hoai Duc District)
    • Total units: 798 units
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  • Ecolife Capitol (Nam Tu Liem District)

    • Total Units: 760 units
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    • Unit size: 47.5 – 152.7 sqm (1 – 4 bedrooms)
    • Price: VND 28 – 30 million per sqm (basic furniture)

* Prices included VAT

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Businesses honoured on HOSE’s 16th aniversary​
Vietnam News


The Top Ten winners of the Vietnam Annual Report Awards, co-organised by the HCM Stock Exchange, Vietnam Investment Review and Dragon Capital Group, include Bao Viet Holding (BVH), DHG Pharmaceutical JSC, Pan Pacific Corp., FPT, HCM Securities Corp., Bao Viet Securities Co., Vingroup JSC, Century Synthetic Fibre Corp., Vicostone JSC and Petro Vietnam Drilling & Well Services Corp.

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Govt defers public hospital fee hike on inflation fears
Vietnam News

The Ministry of Health will not increase hospital fees on August 1 as scheduled because of apprehensions about its inflationary effect. The ministry, the General Statistics Office and the State Bank of Việt Nam are determining the likely consequences to decide when and in which provinces and cities to increase the fees. It was to be the second in a series of planned hikes. According to a road map, public hospitals around the country will raise their fees in five stages by 2017 to reduce their impact on the consumer price index.

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​Huge interest, giants share VND trillions
Vietnam Net

A range of businesses has recently announced business results for the first half 2016 with huge profit. This is a good signal in the context that the private sector is expected to lead the economy in the future. Many real estate companies, industrial real estates, steel, building materials companies, such as An Duong Thao Dien (HAR), Nam Long (NLG), Sudico (SJS), Vinaconex 3 (VC3), Kinh Bac (KBC), Thai Nguyen Steel, Nam Kim Steel (NKG), Dong Nai Plastics, Vicostone (VCS), SMC Steel, Cement Ha Tien, Tien Phong Plastics, Hoa Sen Steel etc. have seen huge profits thanks to strong revenue growth in the context of the warming market. [The original article is available in Vietnamese only.]

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Open Ca Pass road tunnel to public
Cong An Nhan Dan

The 4.1-kilometre Ca Pass Tunnel, a national key infrastructure project that crosses the central provinces of Phu Yen and Khanh Hoa, was inaugurated on July 31. Representative of VietinBank also attended the event. Accordingly, VietinBank assisted the project in fully implementing items on schedule. Addressing the inauguration ceremony, Deputy Prime Minister Trinh Dinh Dung congratulated and hailed Deo Ca Investment Joint Stock Company and contractors for their efforts to clear the tunnels off, which will allow the tunnel system to be complete and put into operation in July next year. [The original article is available in Vietnamese only.]

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$6 bln for Saigon Peninsula project
Thanh Nien

Van Thinh Phat Group Corporation, one of the leading real estate and hospitality companies in Viet Nam, on August 3, 2016 signed an agreement with two giant Malaysian companies to develop a US$6 billion ecological urban system called Saigon Peninsula Project in HCM City's District 7. The two partners are Pavilion Group, a world-class property developer, and Genting Group, Malaysia's leading corporation and one of Asia's best managed multinationals. The signing ceremony was held at the Reverie Saigon Hotel in the Times Square building in downtown HCM City. The Saigon Peninsula Group Corporation was licensed by the HCM City People's Committee to develop the Saigon Peninsula Project on 118ha of land in Phu Thuan Ward in District 7. Saigon Peninsula will feature a multifunctional park, an international cruise terminal port, office towers, resort villas, apartment blocks, a hotel, and other functional areas and facilities. [The original article is available in Vietnamese only.]

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Gelex to build five-star complex near Hoan Kiem Lake​
Vietnam Economic Times

The Vietnam Electrical Equipment JSC (Gelex), one of the leading Vietnamese electrical device manufacturers, will invest in a five-star trade center, hotel and office complex in a prime location near Hoan Kiem Lake in Hanoi. The investment was announced in a document presented in Gelex’s shareholders meeting on August 1. The complex’s expected investment capital is VND 1.9 trillion (USD 85.5 million). It covers an area of 9,934sqm on the corner of Ly Thai To Street and Tran Nguyen Han Street, which is currently the site of Gelex’s Binh Minh Hotel.

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Hanoi announces transport plan to 2030​
Vietnam Investment Review

The Hanoi People's Committee on June 30 has announced the planning of transportation development in the capital city from now to 2030, with a vision to 2050. In order to implement this plan, total investment of up to VND 1,235,380 billion (nearly USD 55.4 billion) will be needed. Accordingly, from now to 2030 Hanoi will develop a system of highways with 4-8 lanes linking Hanoi-Lang Son, Hanoi – HCM City, Hanoi – Thai Nguyen, Ha Noi – Hai Phong, Hanoi – Ha Long, Hanoi – Hoa Binh, Tay Bac – Highway 5, Hanoi – Ho Chi Minh Highway, and turn Thang Long Boulevard and Phap Van – Cau Gie Highway into urban highways. Hanoi will also complete its ring roads and build 18 bridges crossing the Red, Duong, Day and Da Rivers.

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5-star hotel to be built in Hang Bai – Hai Ba Trung crossroad


The land lot with the golden location at the crossroad Hang Bai – Hai Ba Trung owned by Tan Hoang Minh Group was recently approved by People’s Council of Hanoi to be developed into a 5-star hotel instead of a luxury condominium as previously proposed by Tan Hoang Minh. According to the Chairman of the city Mr. Nguyen Duc Chung, this decision is highly recommended due to the lack of hotel room supply in Hanoi. [The original article is available in Vietnamese only.]

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Over VND5 trillion invested in Quang Ninh’s Dong Trieu town​
Vietnam Breaking News

At a conference on July 30, Quang Ninh People’s Committee announced that they have granted investment licenses to four projects totalling VND318 billion (USD14.31 million), including a VND128 billion high-tech agricultural area by VinEco Quang Ninh Company, a VND151 billion waste treatment plant by Vien Dong Co. Ltd., a VND24 billion public bus station by Phuc Xuyen Co. Ltd, a VND15 billion housing area for employees of Clinker Viglacera Brick Joint Stock Company. In addition, Dong Trieu signed memoranda of understanding on investment research co-operation for 10 projects worth VND4,744 trillion (USD213.48 million) in various fields such as urban building, high-tech agriculture, restoration of relics, education and coal mining.

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French group wants to develop highways in Vietnam

Vietnam Plus

VINCI, a French-based leading global group in infrastructure construction and concessions, hopes to cooperate with the Vietnamese Government and partners to develop highway projects in Vietnam. The country will study the development of a high-speed railway and build major airports, which will offer an excellent opportunity for foreign businesses to invest in Vietnam. The Vietnamese Government will create favorable conditions for potential investors to develop infrastructure, especially in the transport sector.

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Contentious auto bill up for reinstatement​
Vietnam Investment Review

Critics are opposing a possible extension of car import regulations under expired Circular 20, saying it contradicts existing laws on fair trade and competition. A draft decree compiled by the Ministry of Industry and Trade (MoIT) on car imports is seeking relevant authorities' opinions. Accordingly, firms must show proof that they are authorised dealers for foreign automakers in order to import completely-build-up (CBU) cars with less than nine seats. The documents have also to be notarised by Vietnamese diplomatic representatives in the country of origin. Those regulations were originally prescribed in the MoIT's Circular 20/2011/TTBCT, effective in 2011. At present, imports of cars with less than nine seats are not listed amongst the prohibited or restricted goods and services specified in the Law on Enterprises 2014.

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Đà Nẵng hailed for use of development aid
Vietnam News


The central coastal city has become a favourite destination for foreign diplomatic delegations and investors and a good example for other Vietnamese cities in utilising official development assistance (ODA), Deputy Prime Minister Phạm Bình Minh said at a meeting with the city’s leadership on Saturday. The city has 409 FDI projects worth $3.7 billion. In 2011-15, Đà Nẵng received 13 ODA projects worth $700 million, of which seven have been completed. In 2013, the World Bank approved a $272.1 million sustainable development project for the city, of which $202.4 million will be provided by the Bank.

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