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CBRE Vietnam’s Top Property News Stories – W51/2015

WB names Vietnam’s unique advantages in TPP, Big C super market sells the whole system in Vietnam, Fed raises interest rate for first time in nearly a decade, HSBC to announce to consolidate their operation in Vietnam…

 

CBRE Newspaper Updates on Residential Ads

 
  • New launch projects:

    • Riva Park in District 7:

      • Launch on 20th December, 2015
      • Total is 320 units
      • Price is from VND30 mil/sqm;
  • The most actively advertised project is:
  • Charmington La Pointe in District 10:

    • Total is 508 units (345 Officetels and 163 Apartments)
    • Price is from VND32 mil/sqm
    • Scale is from 24 sqm;
  • Flora Anh Dao in District 9:
  • Price: from VND1.01 bil/unit
  • Scale is 54 sqm
  • Hangover in Q2/2016


  • New launch:

    • Eco Green City in Thanh Xuan District:

      • Signing the contract after paying 15% unit value
      • Prize: 60 traveling tickets to Singapore for first 60 customers ;
    • Goldmark City in Tu Liem District:
    • Sapphire towers has been launched with price from VND30 million psqm (include VAT & furniture)
    • Interest rate about 7.2%/year for first 12 months apply for Sapphire customers;
    • Opening new launch-phase 2, total prize up to billions VND
    • Price from VND35 million psqm;
    • FLC Complex Tower in Tu Liem District:
  • Other advertisement:
  • Five Star Garden in Thanh Xuan District:

    • Free 3- year service fee or 0% interest rate for the first 6 months
    • Price from VND24 million (include VAT+ furrniture);
  • Packexim 2 Tay Ho in Tay Ho District:
  • 60 units sold after 2 weeks (equal to 80% total units launched in phase 1)

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HSBC to announce to consolidate their operation in Vietnam

VnEconomy

On 16 December, HSBC announced to consolidate their operation in Vietnam and closed its branch in Ha Noi. Specifically, following the approval of SBV, HSBC will merge its operation in Vietnam to HSBC Vietnam and closed HSBC Hanoi Branch (HBAP Hanoi) starting from 16 December 2015. The closing of HBAP will not affect the operation of HSBC Vietnam. [The original article is available in Vietnamese only.]

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Fed raises interest rate for first time in nearly a decade

Vietnam News

The Federal Reserve announced late on December 16 its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis. The Fed raised its benchmark federal funds rate, which was locked near zero since the financial crisis, by a quarter point to 0.25-0.50 percent, saying the world's biggest economy is growing solidly and should accelerate next year to a respectable 2.4 percent pace. FOMC projections showed they expect the rate will rise to about 1.4 percent by the end of 2016, suggesting four more increases over the coming 12 months.

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Big C super market sells the whole system in Vietnam

Vietnam Net

According to Retail Asia magazine, the total revenue of Big C in 2014 reached USD 546 million, 7% up y-o-y. With a total of 32 supermarkets in Vietnam, Big C is the second biggest retailer in Vietnam, following the Co.op Mart. On 15/12 the Casino group announced a plan to solve its EUR 2 billion debt by selling some of its assets which would possibly include Big C Vietnam (as Vietnam market is not determined as a target market for Casino Group). [The original article is available in Vietnamese only.]

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Techcom Capital launches Vietnam's first real estate investment trust

Vietnam Investment Review

Techcom Capital (TCC) today announced the launch of Techcom Vietnam Real Estate Investment Trust (TCREIT) to the public. TCREIT is the first public REIT to be launched in Vietnam, with the initial charter capital of VND50 billion ($2.35 million). At least five million fund certificates at VND10,000 each will be offered. TCREIT focuses primarily on cashflow-generating properties such as office buildings, retail shopping malls, hotels and resorts. TCREIT is expected to be listed on Hanoi Stock Exchange (HNX) in 2016.

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Credit growth this year positive at 18%

Vietnam News

According to deputy director of the SBV’s Monetary Policy Department, credit this year could reach roughly 18 per cent, meeting the capital demands of the economy. The rise in credit was an indication of positive economic growth and improved consumption in the domestic market. The increase in credit was seen in the beginning of the year and continuing every month, instead of only during a few months at year-end, as seen last year. Statistics from the central bank showed that lending rose 14.5-15 per cent in the first 11 months. Also, the SBV reported that credit growth this year has been fundamentally fulfilled.

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Foreign investment in property rises

Saigon Times

Foreign companies registered a total of US$2.32 billion for 29 new and 10 operational property projects nationwide in January-November, US$1 billion higher than the same period last year, according to the Foreign Investment Agency. A report by the agency under the Ministry of Planning and Investment says the foreign direct investment (FDI) in property made up 11.5% of the total FDI approvals in the nation in the first 11 months. This shows more foreign investors are confident in the property market which has been gradually recovering after a long period of lackluster activity.

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Vietnam to offer US visitors one-year visa to boost investment, tourism

Thanh Nien News

Top legislators in Vietnam on Friday approved the government's proposal to extend the validity of temporary visas for US citizens from three months to one year. The US said Vietnam was the only one among 11 countries in the Trans-Pacific Partnership (TPP) offering visas of limited periods to US citizens. The extension is expected to boost economic and trade ties with the US and attracts more US tourist arrivals. With the legislative approval, the government is expected to officially announce the new visa policy soon.

 

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Vietnamese & Thai real estate associations come together

Vietnam Economic Times

The Vietnam Real Estate Association (VNREA) and The Real Estate Sales and Market Association of Thailand (RESAM) recently signed an agreement on enhancing cooperation, knowledge, opportunities to exchange information, and improving the professionalism of organizations in the real estate sectors of the two countries. The signing of the agreement represents a milestone for Thai investors to further approach Vietnam’s real estate market and expand their investment scale, not only in commercial real estate but also in residential real estate. With this signing, it is expected  that RESAM will provide experience on training brokers which will help Vietnam’s real estate market reach sustainable development.

 

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WB names Vietnam’s unique advantages in TPP

Vietnam Investment Review

As the country with the lowest per capita GDP amongTrans Pacific Partnership Agreement (TPP) signatories, Viet Nam will enjoy comparative and unique advantages such as labor-intensive manufacturing and fewer tariffs when TPP comes into effect, according to the World Bank (WB).  On economic impacts, the TPP could add as much as 8% to Viet Nam’s GDP, 17% of its real exports, and 12% to its capital stock over the next 20 years.

 

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Affordable housing in high demand

Vietnam Investment Review

The share of the urban population is expected to reach 50 per cent by 2040, with an estimated 374,000 additional housing needed in cities each year to cope with demand. The information was released in a new World Bank (WB) report "Viet Nam Affordable Housing – A Way Forward", which said the structural shift out of rural areas and toward a higher-productivity manufacturing and service-based economy would drive population growth, leading to higher demand for housing in cities.

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FOR MORE INFORMATION,CONTACT:

 

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen

Associate Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

Ngoc Le

Senior Manager

T +84 8 3824 6125

ngoc.le@cbre.com

 
 
 

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