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CBRE Vietnam’s Top Property News Stories – W43/2014

Vingroup to build tallest building in Viet Nam, Him Lam introduces the Him Lam Cho Lon project in District 6, Singapore’s tourism revenues from Vietnam tourists top $616mn in 2013..

CBRE Newspaper Updates on Residential Ads 


  • Five new launches:

    • Citihome in District 2:

      • Total area: 10ha;
      • Site coverage: 40%;
      • Residential area has 4 blocks with 21 – 23 storey in height;
      • Asking price is from VND600 mil per unit/ 2-bedroom.
    • Galleria Nam Sai Gon in District 7:
    • Total area: 20ha;
    • Residential area has 58 villas with diversified land area (245 – 368 sm) and construction area (500 – 1,000 sm).
    • Total area: 43ha;
    • Component: Landmark building with 81 storey in height, 59,000 sm commercial area.
    • Total area: 4,303 sm;
    • Commercial area has 1,296 sm;
    • Officetel: 2nd – 7th floor;
    • Residential area has 198 units (9th – 19th floor) with diversified area (45 – 98 sm/ 1 – 3 bedroom).
    • Commercial area has two first floor out of 16 floor in height, the remaining is residential area with diversified area (61 – 87 sm);
    • Asking price is from VND860 mil per unit / 2-bedroom.
    • Vinhomes Central Park in Binh Thanh:
    • Orchard Garden in Phu Nhuan:
    • Emerald Apartment (Block B) in Thu Duc:
  • The most actively advertised projects are:
  • Topaz City in District 8:

    • Total area: 20,434 sm;
    • Residential area has 271 units with diversified area (55 – 92 sm);
    • Asking price is from VND775 mil per unit/ 2-bedroom.
  • Dong Tang Long (land plot) in District 9:
  • Total area: 159.36 ha;
  • Asking price for land plot is from VND6.9 million per sm.

  • One new-launch: 

    • HH3B Linh Dam (Hoang Mai)

      • Asking price is from VND13 mil psm (including VAT)
  • Re-launch:
  • Dang Xa (Gia Lam)

    • Asking price is from VND11.6 mil psm (excluding VAT)
  • Handiresco OCT1 (Tu Liem)
  • Asking price is from VND20 mil psm (furnished including VAT)
  • Asking price is from VND13.1 mil psm (furnished including VAT)
  • Asking price is from VND14.9 mil psm (furnished including VAT)
  • Gemek Tower (Tu Liem)
  • The Spark Duong Noi (Ha Dong)
  • Vinhomes 56 Nguyen Chi Thanh (Dong Da)

    • Unit sizes range from 54 sqm – 170 sqm
  • HP Landmark Tower (Ha Dong)
  • Incentive for the first 50 purchases with a loan up to 70% unit value, 0% interest rate at first year.
  • Other active advertised projects:

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Vingroup launches apartment project in Ha Noi



A new apartment project named Vinhomes Nguyen Chi Thanh – Ha Noi was launched by Vingroup in Ha Noi on October 21. Nearly 380 high-standard apartments will be open for sale through STDA trading floor. The company will support its customers in taking bank loans up to 70 per cent of the apartment’s value at preferential interest rates and offer other incentives. The project is expected to be completed by late 2015 or early 2016.

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Vingroup to build tallest building in Viet Nam



HA NOI (Biz Hub) – Vingroup is planning to construct the tallest building in Viet Nam that will serve as a landmark along Sai Gon River in HCM City, a company representative revealed in October. The 81-storey building will serve as a high-end shopping complex with offices and apartments. It will form part of Vinhomes Central Park, a 43ha project in the Tan Cang Area of Binh Thanh District, which has been undergoing construction since July and is expected to become a new symbol and pride of the city, the representative said.

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Him Lam introduces the Him Lam Cho Lon project in District 6


100 units were bought on the launching date. The average price VND17.7 million psm. The project has 8 blocks with 21 – 25 floors with 1,488 units in total. According to the plan, full range of facilities including gym, swimming pool, retail area, sport area,…will be provided. [The original article is in Vietnamese only.]

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Saigon Co.op opens 1st store in Ha Long



HCM CITY (Biz Hub) – Saigon Co.op opened its first Co.opmart outlet in the northern province of Quang Ninh’s Ha Long City on October 19, making it the 72nd outlet nation-wide.

Located on the second floor of Vincom Centre Ha Long, Co.opmart Ha Long costs over VND44 billion (US$2.07 million) and will stock more than 30,000 items like foods, cosmetics, garments, electronics, and household utensils, 90 per cent of them locally sourced.

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Vietnam retailers reviving up their competitive edge

Vietnam Investment Review

In line with World Trade Organisation (WTO) commitments, Vietnam will fully open to foreign retailers as of January 2015. When the gloves come off, tens of thousands of goods from ASEAN member countries will be duty free, which certainly leads to intense price competition. A number of foreign retailers have been rapidly expanding their operations throughout the country including Lotte and Aeon. Walmart, an US retailer is also waiting for the green light to get into the race just as soon as the Trans-Pacific Partnership (TPP) Agreement is finalised and comes into effect while the domestic market has revealed many weaknesses.


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VinaCapital claims $4b casino project near realization


Vietnam Investment Review

Vietnam-focused asset management firm VinaCapital states that it will soon conclude partnership negotiations with a foreign partner for the long-delayed $4 billion South Hoi An integrated casino resort in central Quang Nam province.

“We expect to start construction on this development in mid-2015. We are determined to develop it because this is a very big tourism project,” Don Lam, co-founder and CEO of VinaCapita, told VIR on the sidelines of the company’s investor conference held in Hanoi last week.

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Singapore’s tourism revenues from Vietnam tourists top $616mn in 2013


Vietnam Breaking News

The Singaporean tourism industry generated more than half a billion U.S. dollars in revenue from Vietnamese tourists last year, and the number of visitors from this key market continues to soar, the Singapore Tourism Board said Thursday.

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Vietnam property: No-man’s land no more



Vietnamese property may finally be shaking off its years-long bear market to rise from the flames, with analysts pointing to rising sales and increased investment.

“It’s a real-estate market turnabout,” said David O’Neil, chief investment officer at Asean Investment Management (AIM). “Inflation and interest rates have dropped by 65-80 percent so it’s no wonder,” he said, adding the volume of sales has doubled so far this year and he’s seen private equity deals “every week.”

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Vietnam industrial park owner Kinh Bac expands on demand from LG


Thanh Nien News

Kinh Bac is about to expand the Trang Due industrial park in Hai Phong City, 100 kilometers (62 miles) from Hanoi, by 800 hectares (1,980 acres) to 1,200 hectares when LG wants to build up something like a LG city here as it did in South Korea.

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