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CBRE Vietnam’s Top Property News Stories – W34/2015

City’s first BRT service ready in 2018, VN central bank devalues dong by another 1 per cent, More Korean investments flow into Binh Duong, WGC: Vietnam consumes 14.5 tons of gold in Q2, 10 property giants to have VND 40 trillion inventory …

 

CBRE Newspaper Updates on Residential Ads

 

 

 
  • The most actively advertised projects are:

    • Vinhomes Central Park in Binh Thanh District:

      • Landmark 81: the next highest building in Vietnam
      • High standard of living
      • Expected high investment yield;
    • Citihome in District 2:

      • Official launch Block C on August 22, 2015
      • Price: about 1.2 – 1.3 bil/unit from 66 – 73 sm
      • Support to VND30-trillion home loan package;
    • Jamona Home Resort in Thu Duc District:

      • Price: from 14.5 mil/sm
      • Total: 238 villas from 140 – 500 sm
      • 20% payment to hand over.

  • Four new launches:

    • Ruby Tower (Hoang Mai District):

      • Start price: VND24.5 million psm (VAT included, semi-furnished)
      • Expected completion: Q3 2016;
    • Eco-Green City (Thanh Xuan District):

      • Launch block CT3; 95% of CT4 are sold out after just one month
      • Start price: VND1.5 billion per unit;
    • Park Hill – Times City ( Hai Ba Trung District):

      • Launch Park 5
      • Start price: VND1.8 billion (1BR); VND2.4 billion (2BR); VND3.3 billion (3BR)
      • Financial support: Techcombank to provide loan of up to 85% home value;
    • Goldmark City (Tu Liem District):

      • Unit size: 74 – 172 sqm
      • Start price: VND25 million psm (VAT included, semi-furnished)
      • Financial support: Maritime Bank to provide of up to 95% home value, interest rate 4.99% pa, tenure 20 years.

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VN central bank devalues dong by another 1 per cent 

 

Vietnam News

The State Bank of Viet Nam (SBV) reduced the reference rate, or the inter-bank exchange rate, from VND21,673 to VND21,890 per US dollar, while expanding the trading band for this rate from plus or minus 2 per cent to 3 per cent.With the new band, the dollar is now being traded between VND21,233 and VND22,547.
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10 Currencies That May Follow Tenge in Tumble Triggered by China

 

Bloomberg

The trigger for the wave of depreciations was China’s decision to weaken the yuan on Aug. 11, leaving countries competing with the world’s second-largest economy in export markets and those selling goods to it at a disadvantage. That added to the woes of emerging markets already reeling from a looming increase in U.S. interest rates and weakness in oil prices.

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More Korean investments flow into Binh Duong 

 

The Saigon Times

South Korean investments in the southern province of Binh Duong have increased significantly this year and this trend is seen continuing in the coming time, a deputy director of the provincial Department of Planning and Investment said. The province approved total registered investment capital of over US$134 million for 25 new projects and 14 operational projects of Korean firms in the January-July period.

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City agencies urged to improve SEZ establishment plan 

 

The Saigon Times

HCMC chairman Le Hoang Quan has told relevant agencies to quickly improve a plan to establish a special economic zone (SEZ) to spur the city’s economic growth in the coming years, the Vietnam News Agency reports. The city plans to develop the zone on an area encompassing districts 7, Nha Be, Binh Chanh and Can Gio to give a new boost to the development of the city, especially in the southern part.

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WGC: Vietnam consumes 14.5 tons of gold in Q2 

 

The Saigon Times

The World Gold Council’s (WGC) report on gold demand trends showed Vietnam’s gold consumption was 14.5 tons in the second quarter of this year, falling around 23% compared to the previous quarter.

 

Of the total volume, gold bars accounted for 10.8 tons, down 25% quarter-on-quarter, and jewelry made up the remainder, down 16%.

The gold consumption in Vietnam in the first half totaled around 33.3 tons, almost equivalent to 48% of last year’s figure.
        

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HCM City to save land for support industry 

 

Vietnam News

City authorities plan to reserve 500ha of land for the support industry at several industrial parks until 2020.

The city also plans to build an additional 100,000 sq.m of warehouse space which will be leased to small-and-medium-sized enterprises in the support industry.

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10 property giants to have VND 40 trillion inventory 

 

Cafe F

Until June 30, 2015, 10 listed property giants has over VND 40 trillion inventory, most of which comprises unfinished construction costs of in-progress property projects though the figure declined quite substantially compared to that of last year as a result of market recovery. [The original article is available in Vietnamese only.]

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List of banks providing property guarantees released 

 

Vietnam Net

 

The State Bank of Vietnam (SBV) has released a list of 33 commercial banks that are able to provide bank guarantees for future built property projects. The necessity to secure a guarantee from a financial institution for future built property projects comes under Circular No. 07/2015 from the SBV.

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Vietnam’s T&T Group completes acquisition of Quang Ninh Port 

 

Deal Street Asia

Following the government’s approval to fully divest the state capital from Quang Ninh Port, the Vietnam National Shipping Lines (Vinalines) started the procedures to transfer 49 million shares, or 98 per cent of the port, to the T&T Group, in April.

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FLC to build a golf course complex 

 

Vietnam Investment Review

Property developer FLC Group has committed to invest in a complex comprising 10 golf courses in the central Quang Binh Province during an investment promotion conference held in the province last week.

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New airport terminal to be built to serve APEC 2017 

 

Vietnam Investment Review

The Airports Corporation of Viet Nam (ACV) has reported the Ministry of Transportation (MOT) on building a new international terminal at the Da Nang International Airport with the total investment of VND3.2 trillion (US$144 million). 

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City’s first BRT service ready in 2018 

 

The Saigon Times

HCMC’s first bus rapid transit (BRT) route connecting districts Binh Chanh and 2 will be up and running in late 2018. A detailed design for the project will be done within a year starting from August 2015. Work on the project will begin in early 2017. When in place, the BRT route is expected to create a public transport network that could help reduce private vehicles. 

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FOR MORE INFORMATION,CONTACT:

 

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen

Director

T +84 4 2220 0220

an.nguyen@cbre.com