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CBRE Vietnam’s Top Property News Stories – W39/2015

Nearly 1 million overseas Vietnamese want to buy houses in Vietnam, Le Méridien brand launched in Vietnam, ADB: Vietnam economic growth beyond expectations, Government implements Real Estate Law rules, …

 

CBRE Newspaper Updates on Residential Ads

 

 

 
  • New launch projects:

    • Diamond Lotus in District 8:

      • Public introduction on September 20, 2015
      • Total: 3 blocks, 22 floors, 570 units
      • Unit size: 58 – 91 sm with 2 – 3 br
      • Price: from 1.8 bil/unit with 2 br, from 3 bil/unit with 3 br;
    • CT Plaza Nguyen Hong in Go Vap District:

      • 1st launch on September 20, 2015
      • Total: 17 floors, 287 units
      • Unit size: 51 – 73 sm with 1 – 2 br
      • Price: from 1.3 bil/unit with 1 br, from 1.8 bil/unit with 2 br;
    • Dat Gia Residence in Thu Duc District:

      • Tower A1 will be launched first time on September 30, 2015
      • Total project: two 21-floor blocks for condominium, one 7-floor block for retail & shop houses
      • Expected price: from 800 – 1,150 mil/unit with 2 – 3 br.

  • Seven new launches:

    • Eco-Green City (Thanh Xuan District):

      • Start price: VND1.5 billion per unit (VAT included, fully-furnished)
      • Unit size: 56 – 115 sqm, 2-3BR
    • Thang Long Victory (Hoai Duc District):

      • Units launched: 240
    • Goldmark City (Tu Liem District):

      • Maritime to provide loans with just 3.99% per annum for 18 months
    • HATECO Hoang Mai (Hoang Mai District):

      • The first launch: 90% sold out
      • Promotion: Discount 7% per annum based on the prepaid amount
    • Imperia Garden (Thanh Xuan District):

      • Launch block 27T
      • Bank loans: 6.9% interest rate in the first year or 7.9% fixed in the first 4 years
    • HACC1 Complex Building (Thanh Xuan District):

      • Start price: VND31 million psm
      • Units launched: 42
    • Me Tri Plaza (Tu Liem District):

      • Price: VND26-28 million psm

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Government implements Real Estate Law rules

 

Vietnam News

On September 10, 2015, the Government issued Decree No. 76/2015/ND-CP regulating implementation of Law on Real Estate Business 2014. The Decree governs requirements of real estate business, real estate business contract templates, transfer of contracts and procedures for transfer of partial or entire real estate projects.
 

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Can Gio company eyes $235m bridge

 

Vietnam News

The Can Gio Urban and Tourism JSC has sought approval from the HCM City People's Committee to do a feasibility study to build a bridge over the Soai Rap River linking the suburban districts of Nha Be and Can Gio. Can Gio Bridge will help reduce the distance and travelling time between downtown HCM City and Can Gio District, which now entails crossing the Soai Rap by ferry at Binh Khanh Wharf or by boat at An Thoi Dong Wharf.
 

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Nearly 1 million overseas Vietnamese want to buy houses in Vietnam

 

Vietnam Investment Review

There are about 500,000 to 1 million overseas Vietnamese who want to return to Vietnam to live in retirement… In addition, the income of Vietnamese living abroad has risen, and they want to invest in housing in the homeland… However, this capital inflow is still stuck at the market "entrance", as the circulars guiding the implementation of the new Housing Law have not been issued.
 

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Kusto Home, Coteccons sign deal on Diamond Island apartments

 

Biz Hub

Kusto Home and Cotec Construction Joint-Stock Company (Coteccons) on September 17 signed a Memorandum of Understanding (MoU) for the development of Diamond Island's second phase.
 

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HCM City to boost investment

 

Vietnam News

According to the HCM City People's Committee, the investment budget for road traffic projects in the next five years will be VND124 trillion (US$5.5 billion) tripling the amount in the period of 2011-2015. Besides VND55 trillion ($2.4 billion) from the city's budget, HCM City would mobilise funds from the private business sector in order to improve the infrastructure system, according to the People's Committee.
 

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ADB: Vietnam economic growth beyond expectations

 

The Saigon Times

The Asian Development Bank (ADB) has said Vietnam’s economy will grow higher than expectations for 2015 and 2016, supported by sensible pro-growth monetary and fiscal policies and recent policy reforms.
 

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Le Méridien brand launched in Vietnam
The Saigon Times

 

Starwood Hotels & Resorts Worldwide Inc. last week announced the debut of its Le Méridien brand with the grand opening of the Le Méridien Saigon hotel in downtown HCMC. Le Méridien Saigon is the fourth hotel managed by Starwood Hotels & Resorts in Vietnam. The other three are Sheraton Hanoi Hotel, Sheraton Saigon Hotel & Towers and Sheraton Nha Trang Hotel & Spa. Starwood’s robust pipeline in Vietnam also comprises Four Points by Sheraton Danang and Sheraton Danang Resort, which are scheduled for opening in 2017 and 2018 respectively.

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Wyndham Hotels enters Vietnam

 

Deal Street Asia

US hotel operator Wyndham Hotels enters Vietnam has teamed up with Vietnam’s Ha Long Star Tourism Service JSC to introduce its brand for the first time in Vietnam, according to the Quang Ninh province’s People’s Committee. The Wyndham Legend Ha Long hotel, in collaboration with Ha Long Star, will be a five-star facility based in the northern coastal city. It is expected to commence commercial operations from 2016. The Vietnam-based unit will add to the US company’s portfolio of more than 7,500 hotels around the world.

 

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October 1 opening for Vincom in Hai Phong

 

Vietnam Economic Times

Vincom Le Thanh Tong boasts a shopping center, entertainment facilities, shop houses, and a residential area. Vincom Le Thanh Tong, the first Vincom shopping mall in northern Hai Phong city, will officially open on October 1. Located in Le Thanh Tong Street in Ngo Quyen district the shopping mall combines a shopping area and entertainment facilities, featuring international brands in different sectors such as fashion, cosmetics, and interior furniture, among others.

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Hanoi to receive first trains for Cat Linh-Ha Dong urban railway
Bao Moi

 

A China-made rail carriage prototype for the Cat Linh-Ha Dong light railway has been completed and will go on show in Hanoi in late October for public comment. The railway will carry 13 trains, each or four carriages, costing USD63m. Cat Linh-Ha Dong is a first light urban railway in Hanoi. The project will play a key role in mass public transport. It is expected that together with the bus network, it should solve the problem of traffic congestion, aiming to accommodate 35-45 percent of travelers.

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Chamber of Commerce calls on central bank to cut interest rates

 

Vietnam News

The central bank should consider more interest rate cuts to help enterprises enhance their business efficiency, Viet Nam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc said. Loc stated that despite significant support from banks during tough times, many businesses still found it hard to access loans, and up to 60 per cent of domestic firms were struggling, with hardly any profits.

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Japan to join Vietnam’s $16b Long Thanh International Airport project

 

Deal Street Asia

The Long Thanh International Airport master view. Japan has shown interest in joining the development of Vietnam’s Long Thanh International Airport. This was communicated during a recent meeting between the Vietnam Ministry of Transport and its Japanese counterpart.
The Long Thanh airport in Dong Nai province, 40 kilometres from Ho Chi Minh City, is of critical importance to the Vietnamese economy, said the country’s transportation minister Dinh La Thang. However, the project requires a great deal of investment.

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Vietnam records 8.4% rise in FDI inflows at $9.6b

 

Deal Street Asia

Bui Quang Vinh, Minister of Planning and Investment. Vietnam has attracted fresh foreign direct investment inflows of $9.65 billion during the first nine months of 2015, recording a 8.4 per cent increase over the same period in 2014. That was part of the pledged FDI worth $11.03 billion during the period, up 44.5 per cent.

 

 

This was announced by the local Ministry of Planning and Investment.

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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