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CBRE Vietnam’s Top Property News Stories – W3/2016

CapitaLand ups stake in Vietnam joint venture to 90%, Long Thanh airport likely to fall behind schedule, Former US airbase in Nha Trang to be sold for $540 million, Vietnam's Economy Is an Emerging Market Standout, …

CBRE Newspaper Updates on Residential Ads


  • New launch projects:

    • Dream Home Palace in District 8:

      • Launch on 16th January 2016
      • Total area is 13,000 sm
      • There are 978 units with scale from 51 sm to 80 sm
      • Price from VND868 million/unit with 2 bedrooms;
  • The most actively advertised project is:

    • Goldview in District 4:

      • Total area is 23,061 sm
      • Number of units is 1,905 with scale from 50 sm to 133 sm
      • Price is from VND1.9 billion/unit;
    • Le Thanh Tan Tao in Binh Tan District:

      • Total area of 33,000 sm
      • Price is from 360 mil/unit
      • Scale is from 34 sm to 38 sm;
    • Conic Skyway Residence in Binh Chanh District:

      • There are180 units
      • Scale is from 53.1 to 107.1 sm/unit
      • Price is from 14mil/sm (incl VAT).

  • No new launches;
  • Other advertisements:

    • Vinhomes Gardenia in Tu Liem district:

      • This apartment part named Arcadia has area from 54 sqm to 146.8 sqm (1- 4 bedrooms);
      • The first project has duplex model with area of 98 – 102 sqm;
    • Mon City in Tu Liem district:

      • Units have area from 52.6 sqm to 86 sqm,147 shophouses;
      • Handover to buyers in Q4 2017;
    • The Premier in Cau Giay District:

      • Convenient to approach Ring Road 3, Thang Long boulevard, schools, university and supermarkets;
      • Construction density: 60%;
      • There are 55 terraced houses with area ranging from 87 sqm to 250 sqm.

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Vietnam's Economy Is an Emerging Market Standout



While the world’s largest emerging economies including Russia, Brazil and China falter,Vietnam’s steady economic growth at near 7 percent this year will make it among the fastest-growing markets in the world. Rising domestic demand and booming foreign direct investment are helping the Southeast Asian nation counter global threats that’s sparked a wave of stock selling and currency depreciation this year. Vietnam’s economy is forecast to expand 6.7 percent this year, the same pace as in 2015, according to Bloomberg surveys.

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Former US airbase in Nha Trang to be sold for $540 million


Thanh Nien News

Authorities in the central province of Khanh Hoa have announced plans to sell a former US airbase measuring more than 186 hectares in Nha Trang to investors for a shopping-services mixed development. They said Monday it would be a build-transfer (BT) project, and the land has been evaluated at around VND12 trillion (US$540 million). Potential investors have not been revealed but earlier reports said at least four companies had expressed interest.

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Citadines Regency Saigon – Opening in 2018



Citadines Regency Saigon has a prime location close to several foreign embassies, Grade A office towers and a variety of retail, dining and entertainment options. The serviced residence is near the Central Business District area of District 1 where popular tourist hotspots such as the Reunification Palace, Notre Dame Cathedral and War Remnants Museum are also located. Citadines Regency Saigon offers stylish apartments ranging from studios, one-bedroom and two-bedroom apartments. The serviced residence’s facilities include a swimming pool, fitness centre, resident-cum-business lounge, breakfast lounge and launderette.

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Long Thanh airport likely to fall behind schedule


The Saigon Times

If procedures are handled as strictly as required, work could only start on the Long Thanh international airport project in 2023, when phase one of the project is planned to be complete. The National Assembly (NA) Economic Committee expressed this concern in a report sent to the NA and the Prime Minister after its working group worked with the parties concerned. The authorities of Dong Nai Province told the working group that it would take around three years to finish site clearance and resettlement and that these works cannot get off the ground without Prime Minister’s approval. Given the current progress, Airports Corporation of Vietnam (ACV) cannot submit the feasibility study to the Ministry of Transport until July 2017, which the Government plans to send to the NA at its first sitting of 2018.  If the parties concerned have to take the required steps, the project cannot begin construction before 2023.

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CEO Group opens Novotel Phu Quoc Resort


Vietnam Investment Review

CEO Group on January 18 opened the Novotel Phu Quoc Resort after one year of construction. The hotel, managed by Accor, lies on a 7.3 hectare area. It is located on the SR3 land plot of Sonasea Villas & Resort tourism complex on Bai Truong beach, five minutes by car from Phu Quoc International Airport. The construction cost VND4.5 billion ($201.8 million) altogether. Novotel Phu Quoc Resort features 400 rooms of great variety—beach front villas, pool villas, deluxe twin villas, suites, superior and family rooms. The main hotel building has five floors overlooking the master pool and a group of 44 beachfront villas.

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IPs to see more foreign funding


Vietnam Investment Review

Foreign investment in HCM City's industrial parks and export processing zones is expected to rise this year as Viet Nam is scheduled to sign the Trans-Pacific Partnership (TTP) on February 4, according to the HCM City Industrial Parks and Export Processing Zones Authority (HEPZA).  Last year, the IPs and EPZs lured more than $840 million in total investment, an increase of 11.74 per cent compared to 2014. HEPZA targets attracting investment capital of $700 million from foreign and domestic enterprises. This year, HEPZA will focus on the support industry which serves four main industries of mechanics, electronics-computers, chemicals, food processing and high technology.

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CapitaLand ups stake in Vietnam joint venture to 90%
Deal Street Asia


CapitaLand Limited, through its wholly owned subsidiary CapitaLand Vietnam Holdings, has beefed up its ownership in the Vietnam-based CapitaLand Vista joint venture to 90%. It purchased another 10% stake through a cash transaction worth $4.65 million in the JV from Thien Duc Trading Construction Co Ltd, with which it forged the partnership in September last year.

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Open to traffic for Vietnam's largest steel overpass


On 18/01, the Vietnam’s largest steel overpass has officially opened to traffic. This overpass bridge includes 6 lanes (3 lanes heading toward Nguyen Van Linh street – extended road 5. Total length of 809.7m) The total investment of this project is VND2,847 billion. The project's construction started in May 2015 by Him Lam Joint stocks. [The original article is available in Vietnamese only.]

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Hanoi issue the land adjustment ratio for 2016



Hanoi People's Committee has issued Decision No. 179 / QD-UBND to enact land price adjustment ratio for 2016 as a basis for determining land prices in some cases which the land use is prescribed by law in the area of Hanoi. In particular, price adjustment ratio for non-agriculture, commercial and services land is calculate as follow: for land in these 4 districts: Hoan Kiem, Ba Dinh, Hai Ba Trung, Dong Da, the ratio K=1.3. For land plot in Tay Ho, Thanh Xuan, Cau Giay, K=1.15. For the rest districts K=1.05. For land plot in Son Tay Commune , K=1.0. For agriculture land, K=1.0. [The original article is available in Vietnamese only.]

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Real estate inventory falls 60% in two years


Vietnam Economic Times

The property inventory was estimated at nearly VND 50.9 trillion (USD 2.29 billion) as at December 20, 2015, a fall of 42.3% compared with the same period of 2014 and down 60.4% compared with 2013. In Hanoi there were 19,350 successful transactions conducted, an increase of 1.7-fold compared with 2014, while Ho Chi Minh City saw 18,700 successful transactions, an increase of 1.8-fold. The number of housing transactions rose significantly during the year, primarily in the small- and medium-sized apartment segment and some mid- and high-end projects.

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Japanese support for Hanoi railways


Vietnam Economic Times

The Hanoi Railway Transport Company (HRTC) and Japan’s Tokyo Metro have signed a Memorandum of Understanding (MoU) to cooperate in developing the capital’s urban railway network. Tokyo Metro will provide technical consultation and experts and together with HRTC build, operate, and manage urban railway projects.

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