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CBRE Vietnam’s Top Property News Stories – W47/2015

Phu My Hung develops international commercial and financial district, A boom of new projects at the end of the year, Large absorption in high-end apartment despite supply blooming, Office-tels tipped to top HCMC market…

 

CBRE Newspaper Updates on Residential Ads

 
  • New launch projects:

    • Gia Cat Garden in District 2:

      • Launch on November 16, 2015
      • Area: 3.8 ha, total: 143 land plots
      • Price: from 2 bil/140 sm plot;
    • Hiep Thanh City in District 12:
    • 2nd launch on November 15, 2015
    • Area: 12.55 ha, townhouse and villa plots
    • Price: 1.1 bil/plot
    • First payment: 30%, payment term: 12 months.
  • The most actively advertised project:
  • An Gia Skyline in District 7:

    • Area: 6.3 ha, 480 units
    • Price: from 1.5 bil/unit with 2 bedrooms
    • First payment 20%.

  • New launch:

    • Park Hill Premium (Hai Ba Trung District):

      • Official launch in 21 November
      • Loan up to 85% apartment value.
  • Re-launch:
  • Gemek Tower (Hoai Duc District):

    • Units launched: 200 (Final)
    • Start price: VND14 million psm (VAT excluded).
  • Seasons Avenue (Ha Dong District):

    • Attractive contract progress payment
    • Average monthly payment is 1.25% house value;
  • HATECO Hoang Mai (Hoang Mai District):
  • Loan up to 70% house value
  • Interest rate 0% in first 9 month.
  • Other advertisement:

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Office-tels tipped to top HCMC market

Vietnam Net

Office-tel developments, which combine residential and commercial uses in one apartment, are mushrooming in HCM City and are expected to lead the market in future. They have been being built in many districts around the city and some of the key projects are Wilton Tower, The Sun Avenue, Golden Mansion and Sky Centre. At a lease rate of US$20 per sm, office-tel fetches returns of 8-12 per cent, and this would rise especially when the economy benefits from the Trans-Pacific Partnership

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Marriott International to Acquire Sheraton owner Sherwood Hotels & Resorts WorldWide

VNEconomy

Marriott International Inc. will buy its competitor Sherwood Hotels & Resorts Worldwide for US$12.2 billion and create the world’s biggest hotel chain with 30 leading brands such as Sheraton and Ritz-Carlton. The combined company will have 5,500 hotels operating in over 100 countries. The deal is expected to finish in mid-2016 [The original article is available in Vietnamese only.].

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Large absorption in high-end apartment despite supply blooming

Dan Tri

In Hanoi, high-end apartments account for 1/3 of the total open-for-sale apartments. The number of high-end apartment surges by 3 times q-o-q with 1,518 units. The number of transaction of this segment also accounts for 22% of total transaction, up by 18% y-o-y. According to Real Estate Association, the huge supply was because developers launch new projects or reboot current ones in order to take advantage of new opportunity. Despite increasing supply, it seems that the price will continue to hike in near future due to the impact of foreign exchange devaluation, the recovery of the real estate sector and active involvements of speculators [The original article is available in Vietnamese only.].

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Korea-Vietnam Incubator Park opens in Can Tho

The Saigon Times

Korea-Vietnam Incubator Park (KVIP) was put into operation in Can Tho City over the weekend, serving as a catalyst for economic development in the Mekong Delta region. More than US$21 million has been invested to develop KVIP on 4.5 hectares in Tra Noc 2 Industrial Park in O Mon District. KVIP consists of a four-storey building of an administration office and business supporting facilities covering 9,000 square meters, a meeting hall, a 4,000-square-meter laboratory for research and testing, and shops used to test-produce products at the park. KVIP will provide technology, consultancy and human resource development services for small and medium enterprises in Can Tho City and other parts of the Mekong Delta region, especially those in priority sectors.

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A boom of new projects at the end of the year

Tin Nhanh Chung Khoan

Real estate sector in HCMC will undergo a boom of new projects. The dramatic surge in new projects is due to the anticipation of capital flow into the real estate sector by the end of the year. All segments, from high-end to low-end apartments, townhouses and even land plots are expected to experience a booming of new projects. According to the Head of HCMC Real Estate Association, most of developers launch new project at this times as they have high hope of the capital flow of Vietnamese foreigner from outside the country. Along with increasing supply, the market also achieves a high rate of absorption [The original article is available in Vietnamese only.].

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Phu My Hung develops international commercial and financial district

Biz Hub

Many experts predict that Phu My Hung City Centre's International Commercial and Financial District will soon share the burden with HCM City's financial center. The new international commercial and financial district is even considered to have more advantages than the former one since it has been developed as a model modern urban area with comprehensive infrastructure and convenient transportation. The district is planned for development as a central business district of international standard with numerous facilities including offices, malls, banks, restaurants, hotels, and service and entertainment facilities.

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VND 30,000 billion credit package has been disbursed 45%

CafeF

According to the Ministry of Construction, as of 31/10/2015, the total amount of money which banks committed to disburse credit support package has reached VND21,518 billion / 30,000 billion, accounting for 72% of total support capital. In particular, the bank has disbursed loans to house buyers of VND13,499 billionVND (45%) as the preferential captial. The delay in disbursing this package is mainly caused by the indeterminable deadline for this project, lacking of social housing projects to meet the society’s demand, inability to meet the loan conditions of the lenders and the long procedure to disburse the loan. Commercial banks expect to complete the disbursement of the VND30,000 billion package at the end of Q1/ 2016 [The original article is available in Vietnamese only.].

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Electronics sector attractive to foreign backers

Vietnam Investment Review

Vietnam’s electronic sector industry has attracted USD 10 billion in FDI capital from big names like Samsung, LG and Panasonic. Vietnam has grown to become 12th largest electronic exporter in the world. Attractive areas in Vietnam’s electronic industry are large scale mobile phone factories. However, domestic electronic enterprises do not contribute much to the electronic supply chain.

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Ascott signed new management contract for Somerset West Point Hanoi

Info.net

CapitaLand’s wholly–owned serviced residence business unit, The Ascott Limited, has secured a contract to manage the 247-unit Somerset West Point Hanoi in Hanoi. Stated to open in early 2017, the property is located in the exclusive expatriate enclave of Quang An Peninsula by the scenic West Lake. This is the fourth property that Ascott manages in Vietnam over the past year [The original article is available in Vietnamese only.].

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Cuba opens doors for Vietnam businesses

Biz Hub

Cuba welcome and will create favourable conditions for Vietnamese business to seek opportunities in Cuba. Cuba is implementing the open – door policy in economics and foreign investment attraction. Vietnam will assist Cuba in implementing agriculture production development programmes. Cuba is willing to collaborate with Vietnam in the production of vaccines and new drugs.

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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