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CBRE Vietnam’s Top Property News Stories – W50/2015

Sai Gon Me Linh Tower project starts on 5th December – A new signature project in the center of HCMC, Vietnam: Khang Dien Housing to acquire controlling stake in Binh Chanh Construction, Open traffic for the Hanoi-Hai Phong Highway, Officially launch the Sapphire – Goldmark City project…

 

CBRE Newspaper Updates on Residential Ads

 
  • New launch projects are:

    • Melosa Garden in District 9:

      • Launch on 5th December, 2015
      • Total area: 17.3 ha
      • 342 townhouses and 100 villas
      • Price: from VND2.7 billion/unit;
    • Dragon Hill and Suites 2 in Nha Be District:
    • Launch on 5th December, 2015
    • Number of units: 455 units
    • Scale: 51 – 94 sm/unit with 2-3 br
    • Price: from 1.3 billion/unit.
  • The most actively advertised project is:
  • Lavita Garden in Thu Duc District:

    • Launch block A on 18th November, 2015
    • Launch block B on 12th December, 2015
    • Scale is from 51 sm, price s from 1.1 bil/unit
    • Total 648 units, 2 blocks.

  • New launch:

    • Goldmark city in Cau Giay district:

      • Price about VND30 million psm, interest rate for loan is just 7.2%/ year in the first 12 months
      • Prize value up to VND150 million;
    • Packexim Tay Ho in Tay Ho district:
    • Price from VND 1.4 billion/unit (include VAT & furniture)
    • Beautiful view, prime location, various areas from 60.02 sqm to 75.88 sqm.
  • Other advertisement:
  • Season Avenue in Ha Dong district:

    • Nearly 100 transaction has been done
    • Attractive payment : 1.25% unit value/ month an 50% unit value when handle the apartment key;
  • Hateco Hoang Mai in Hoang Mai district:
  • Fast construction progress: 20th floor this time and topping out before Tet 2016
  • Variety of prize: Toshiba washing machine for customer who buy 75 m2 unit.

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Sai Gon Me Linh Tower project starts on 5th December – A new signature project in the center of HCMC

REIC

Sai Gon Me Linh Tower will be developed by Sabeco Pearl with the aid of Novaland, a famous real estate developer in HCMC market. The total area of the project is estimated to be 6,080 sm with 39 floors and total GFA will be 90,000 sm. [The original article is available in Vietnamese only.]

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Vietnam: Khang Dien Housing to acquire controlling stake in Binh Chanh Construction 

Deal Street Asia

Ho Chi Minh City-based Khang Dien Housing JSC’s board of directors have agreed with the company’s plan to increase its holding in Binh Chanh Construction Investment Shareholding Company. The current holding of Khang Dien in Binh Chanh is 20.4 per cent equity stake, which translates into 17.7 million shares, making it the largest investor in the company. In a November shareholder meeting, Binh Chanh said it will issue private placement to strategic shareholders to increase its charter capital, using the proceeds to invest in a number of real estate projects. During the meeting, Binh Chanh approved the move by Khang Dien to up its stake in the company to 25 per cent without making a public announcement.

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Mortgages Replace Sacks of Cash as Vietnam Housing Rebounds

Bloomberg Business

Loans to home buyers surged 22 percent this year through August, marking a shift in a country where it isn’t uncommon for buyers to plunk down sacks of money in all-cash transactions. Real estate loans, which account for about 8 percent of total bank lending, are contributing to a property rebound that’s seen home sales almost double this year. The change is being driven by demographics — 60 percent of Vietnamese are under the age of 35 — and rising migration into cities. Standard Chartered Bank Vietnam estimated the country’s mortgage market is growing by about $3 billion a year.

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Daiwa House Joins Japanese, Vietnamese Firms to Launch "Midtown Project" 

PR Newswire

 

Daiwa House Industry Co., Ltd., Nomura Real Estate Development Co., Ltd., and Sumitomo Forestry Co., Ltd., will collaborate with a major local developer, the Phu My Hung Development Corporation, to launch the "Midtown Project", a real estate development project in Phu My Hung, District 7 in Ho Chi Minh City in the Socialist Republic of Vietnam. The "Midtown Project" is a plan to sell condominiums in the Phu My Hung area in two phases. In the Phu My Hung area where Phu My Hung Co. conducts real estate development, this will be the first real estate development project by Japanese companies.


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Accor to Buy Raffles Hotel Operator FRHI for $2.9 Billion

Bloomberg Business

Accor SA agreed to buy the owner of the luxury Fairmont, Raffles and Swissotel brands for about $2.9 billion in shares and cash. Europe’s biggest hotel operator will pay 46.7 million new shares and $840 million in cash for FRHI Holdings Ltd., Accor said in a statement on Wednesday. Accor’s buying the company from Qatar Investment Authority, Prince Alwaleed Bin Talal’s Kingdom Holding Co. and Oxford Properties Group Inc.

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Giant hotel brand Movenpick operates business in Phu Quoc

REIC

On December 8th, Ngoi Sao Cua Duong JSC and Movenpick Hotel & Resorts signed the agreement of a cooperation to develop the first Movenpick Resort in Phu Quoc. The project will be located in the West of the island with the total area of 50 ha. The project will consist of a 300-room hotel, 100 second homes, 50 high-end villas and other modern facilities such as swimming pools, restaurants, spas, 1,000 m2 conference center and a sport hall. [The original article is available in Vietnamese only.]

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Vietnam sees Record – High Foreign Investment on TPP, Eased Rules

Bloomberg Business

Vietnam expects disbursed foreign direct investment to reach a record high this year after the government eased business regulations, luring investors seeking to benefit from the Trans – Pacific Partnership trade pact. Disbursed FDI in 2015 should be about US$14 billion, US$1.5 billion more than last year. Vietnam is also forecast to post the strongest economic growth this year of 6 Southeast Asian countries.

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Discretion pays for Vietnam casino raking in wealthy Chinese

Reuters

 

Few outside Danang have heard of the Crown International Games Club, a privately owned casino located along this rapidly developing city's main resort strip and which over the past year has emerged as the most exciting place for wealthy Chinese to drop bets worth at least HK$1 million ($129,030).The popularity of this low-profile casino among the world's most prolific gamblers coincides with the waning fortunes of bigger, more famous rivals such as the opulent Wynn Macau and Grand Lisboa in Macau as a Chinese government crackdown on corruption and conspicuous spending batters the world's biggest gambling industry. Owned by Chinese businessman Hui Kong, Crown is one of seven licensed casinos in Vietnam, already a popular destination for many Chinese tourists.


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Open traffic for the Hanoi-Hai Phong Highway

CafeF

The US$2 billion project becomes the latest evidence of the Government’s effort to realize the three strategic breakthroughs, including infrastructure development. The new expressway, which links Ring Road No. 3 of Ha Noi and Dinh Vu Dam of Hai Phong, will help shorten travelling time to 40-45 minutes from 2.5 hours earlier. It was designed in conformity to class A standards, having seven separate interchanges at intersections with national highways, 17 large bridges, 24 medium bridges, 22 flyovers. [The original article is available in Vietnamese only.]

 

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Officially launch the Sapphire – Goldmark City project

CafeF

The Sapphire area of the Goldmark City complex will be officially launched on 12/12/2015. This Sapphire project has a Sapphire Square covering an area of 5,236 sqm, a Royal-Sapphire pool, and a love fountain. The developer will hand furbished apartment over at the price from VND 30,000,000/sqm (VAT included). Buyers can move in from Q3 2017. Many preferential packages will be offered to attract the potential customers. [The original article is available in Vietnamese only.]

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Hanoi will build underground urban area at central districts

Land Today

Hanoi People’s Committee Council has issued the decision on approving the planning task of building underground urban area, and construction projects in Hanoi, up to year 2050. Accordingly, the projected scale is 756sqm with the population in 2030 will reach 4.3 million people. The proposal of the underground urban area will be deployed in: Hoan Kiem Dist., Dong Da Dist., Ha Ba Trung Dist., Cau Giay Dist., Tay Ho Dist., Thanh Xuan Dist., Hoang Mai Dist., Ha Dong Dist., Bac Tu Liem Dist., Nam Tu Liem Dist., Long Bien Dist., Me Linh Dist., Dong Anh Dist., Gia Lam Dist., Dang Phuong Dist., Hoai Duc Dist., Thanh Oai Dist., Thanh Tri Dist., Thuong Tin Dist.. The project will face Ca Lo River in the North, Bac Ninh and Hung Yen Province in the East, Ring Road 4 in the West and South. [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