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CBRE Vietnam’s Top Property News Stories – W42/2015

Vingoup talks investment with Quang Ngai, Real estate credit may rise 15% this year, Ecopark successfully sold 100% units of Aqua Bay in first launch,…

 

CBRE Newspaper Updates on Residential Ads

 
  • New launch projects:

    • Dragon Hill Residence And Suites 2 in Nha Be District:

      • Launch in mid-October 2015
      • The second phase of Dragon Hill
      • 2 block 25 floors, scale: 52 – 92 sm/unit
      • Price: from 21 – 23 mil/sm;
    • Lucasta in District 9:
    • 1st launch on October 14, 2015
    • Area: 8.2 ha, construction density: 34%
    • Detached & semi-detached villas from 192 to over 1,000 sm.
  • The most actively advertised projects are:
  • Van Phuc Riverside City in Thu Duc District:

    • Price: from 2.2 bil/unit
    • Area: 198 ha, 9th phase on sale.

  • Four new launches:

    • Times Tower (Thanh Xuan District):

      • Unit size: 107 – 129 sqm
      • Start price: VND32.5 million psm (VAT included);
    • Five Star Garden (Thanh Xuan District):
    • Start price: VND1.8 billion per unit;
    • Unit size: 70 – 130 sqm
    • Only 50% of home value payment needs to be made before handover;
    • Block HH01 was introduced
    • Start price: VND1.6 billion (VAT included, semi-furnished).
    • Seasons Avenue (Ha Dong District):
    • New Horizon City (Hoang Mai District):
  • Two re-launches:
  • The Pride (Ha Dong District):

    • Start price: VND1.7 billion (VAT included, fully-furnished);
  • Ha Dong Center (Ha Dong District):
  • Previously known as Ho Guom Plaza
  • Sales gallery has just been introduced.

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Sector requests support for social housing projects

Vietnam Investment Review

Amidst the recovery of the property market, complicated procedures and capped profits have deterred investors from converting their projects into social housing projects, noted the HCM City Real Estate Association. The situation has put developers of many commercial projects that were registered in the past three years to be converted into social housing projects in a dilemma.

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Work begins on sea reclamation project in Rach Gia

The Saigon Times


Phu Cuong Group has broken ground for a major sea reclamation project to build a urban area on Phu Gia Island in Rach Gia City in the Mekong Delta province of Kien Giang. The urban area on reclaimed land would cost around VND2.2 trillion (about US$98.23 million) and comprise sea-view villas, five-star hotels, seaside resorts and a yacht terminal, a Vietnam News Agency report said.

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South Korean companies expand distribution channels in Vietnam

Vietnam Net

Go Vap district in HCM City, for example, has seen more shopping malls and supermarkets opened by South Korean retailers Lotte and Emart. An analyst noted that Vietnam was not only the ‘aiming point’ of South Korean manufacturing groups, but it had been eyed by big South Korean retailers. South Korean foreign direct investment in Vietnam has increased sharply in recent years. The country became the largest foreign direct investor in 2014 with gross registered investment capital of $36.7 billion.

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Ecopark successfully sold 100% units of Aqua Bay in first launch

VN Economy

There were nealy 1,000 customers who registered to buy products in Aqua Bay projects, yet Ecopark only sold 126 units in their first launch. In two days (3&4 Oct 2015), Ecopark developer – Viethung Investment and Urban developer JSC has officially held a draw for customers who are subscribed to buy Aqua Bay products. Mimosa Valley villas are designed in modernized style including semi-detached houses with an average area around 190 – 230 sqm and commercial villas with an average area 220 – 280 sqm. The starting price is 21 million VND per sqm, including taxes, value of land use and construction. [The original article is available in Vietnamese only.]

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Real estate credit may rise 15% this year

Vietnam Economic Times

Estimates by the Ministry of Construction reveal that real estate credit may increase by 15 per cent this year, to an estimated VND340 trillion ($15.3 billion). Mr. Nguyen Tien Dong, Director of the Economic Credit Department under the State Bank of Vietnam (SBV), told local media that the recovery in the real estate market is good news for both the economy and banks.

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Vingoup talks investment with Quang Ngai

Vietnam Economic Times

The Quang Ngai Provincial People’s Committee held a meeting with Vingroup on October 14 regarding the feasibility report on building Vincom Quang Ngai, a commercial center and residential area (called Shophouse) in Quang Ngai city. Vingroup also reported to the meeting its ideas on construction planning for a complex in Binh Chau on an area of 2,200 ha, which would include a luxury hotel and three golf courses.

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Tan Son Nhat airport’s apron to be doubled

The Saigon Times

The project is aimed at allowing the airport to increase its passenger handling capacity from 20 million to 25 million to reduce overload. At the meeting last Friday, Deputy Minister of Transport Nguyen Nhat described Tan Son Nhat as the biggest and most important airport of the country, the air transport hub of the southern region and the major gateway to other countries. Regarding the Long Thanh international airport project which is designed to replace Tan Son Nhat in the future, Nhat said work would not start on the project until 2018 and phase one of the project would not be finished until 2023. Therefore, the expansion of Tan Son Nhat is necessary, he noted.

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Ring Road No.2 connecting Nhat Tan with Cau Giay to be technically opened in October

Cafe F

The vice president of Hanoi People’s Committee, Nguyen Quoc Hung, just urged Hanoi clearance committee, related departments, the People’s Committee of Cau Giay, Ba Dinh and Dong Da districts, and contractors for the completion of Ring Road No.2 from Nhat Tan to Cau Giay. Ring Road No.2 is a closed internal urban route, with a total length of 43.6km. [The original article is available in Vietnamese only.]

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Vietnam to slash visa fees in November to boost tourist arrivals

Vietnam Investment Review

Vietnam will cut visa fees for several types of international passport holders and overseas Vietnamese next month, in the latest effort to boost the country’s foreign arrivals. Starting November 23, the single-entry visa will cost US$25 instead of the current $45, whereas the fee for multiple-entry visas with validity of less than three months will go down from $95 to $50, according to a circular by the Ministry of Finance. Foreigners will still have to pay $95 for the multi-entry visa with validity between three and six months, and $135 for between six months and a year. The fee for a visa valid for between one and two years is $145, and from two to five years, $155.

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Worldstar Land officially starts selling Times Tower

Cafe F

On Oct 17th, Worldstar Land officially launched its Times Tower project. The project features two 27-floor towers, with modern design to accommodate the needs and lifestyles of its residents. Times Tower is situated in a favourable position, adjacent not only to both Le Van Luong and Le Van Thiem streets, but also major roads such as Giang Vo, Khuat Duy Tien, and Ring Road No. 3, etc. Moreover, it also has direct access to important landmarks like National Convention Center, Keangnam Hanoi Landmark Tower, and international schools. [The original article is available in Vietnamese only.]

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MBLand Central Point Trung Kinh prepares presales with attractive gifts

Cafe F

MBLand Central Point Trung Kinh comprises of three twenty-nine-floor towers. The project inherits good infrastructure foundation of the area, together with links to electricity systems, roads, schools, stations, commercial centers in a radius of 1.5 km. It  also has advantageous access to major districts such as Cau Giay, Thanh Xuan, Dong Da.  Moreover, there are integrated utilities around the project like offices, kindergartens, green house, outdoor café, etc. [The original article is available in Vietnamese only.]

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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