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CBRE Vietnam’s Top Property News Stories – W52/2015

Dollar surges to upper limit as Fed hikes ratesm, Vietnam-Korea FTA takes effect, S Korea's largest retailer comes to HCM City, Investor buys 52% stake in Kim Lien…

 

CBRE Newspaper Updates on Residential Ads

 

 
  • New launch projects:

    • Happy Residence in District 7:

      • Launch Block C on 19th December, 2015
      • Number of apartments in Block C is 135 units
      • Scale from 71 sm to 91 sm;
  • The most actively advertised project is:

    • The Ascent in District 2:

      • Total area of 6,677 sm with 2 blocks
      • Number of apartments is 280 units
      • Scale from 67 sm to 99 sm.

  • New launch:

    • Hoa Binh Green City in Hai Ba Trung District:

      • 30% unit value transaction to handle the key
      • Retire 70% loan with 6% interest rate in first 2 years
      • Prize up to 1.5% unit value in 10th January launch;
    • Hateco Hoang Mai in Hoang Mai District:

      • 100 last units launching in total 744 units in this launch event
      • Prize: Liberty motorbike, Dell laptop, ipad Mini when purchasing between 1st November to 27th ecember 2015;
  • Other advertisement:

    • Taseco Complex in Tu Liem District:

      • 31 floor with 270 units, area from 91.7 m²  to 238.9 m²
      • Full of facilities: gym, children area, restaurant, supermarket.
    • Goldseason in Thanh Xuan District:

      • Price from VND28 million/sqm ( including VAT, full furniture)
      • High – end unit, designed by American company.

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Dollar surges to upper limit as Fed hikes rates

 

Vietnam Breaking News

The exchange rate between the U.S. dollar and the Vietnam dong reached the highest permissible limit on December 17 as the U.S. Federal Reserve decided a first rate spike since 2006. Local bankers said that before the Fed’s 25-basis-point increase, it had been factored into Vietnam’s forex market for days, with banks selling the greenback at the upper limit set by the State Bank of Vietnam (SBV). When the dollar strengthened to its cap, no foreign currency transactions would take place on the inter-bank market. The Fed’s rate hike had already been expected by the market but pressure on the forex market is still high as the Fed could hike interest rates further while China’s yuan has dipped.

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Vietnam Inflation rate in 2015 reached only 0.63%, lowest level in 14 years

 

CafeF

The inflation rate in 2015 was less than 1%, and much less than the 5% target of the State. This is also the lowest growth rate of inflation since 2001. The CPI in December 2015 increased slightly: 0.02% y-o-m and 0.6% y-o-y. In 11 groups of goods and services, there were 7 groups with increased price index; but the increase was not significant: food and services, beverage and cigarette, garment, footwear, hat, housing and construction materials, medicament and health services. 4 groups with decreased price index were transport, post and communication, culture and tourism, and household equipment goods. [The original article is available in Vietnamese only.]

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ACV announces upgrade to Noi Bai terminal T1 

 

Vietnam News

The Airports Corporation of Viet Nam (ACV) plans to upgrade domestic terminal T1 at Noi Bai International Airport, with expenditure expected to reach VND244 billion (US$10.84 million). In a document recently sent to the Ministry of Transport, the company said it would expand the area of the terminal and repair the staircases, check-in desks and luggage conveyor belts. The work will begin next June and be finished within two years, helping increase the capacity of the terminal to serve about 15 million passengers a year instead of the current nine million.

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Vietnam-Korea FTA takes effect

 

Vietnam Breaking News

Vietnamese enterprises are now able to enjoy multiple tariff incentives under a free trade agreement (FTA) between Vietnam and South Korea as the trade pact took effect on December 20, instead of January 1, 2016 as earlier planned. Under the FTA, Korea removes 95.4% of tariff lines on imports from Vietnam while Vietnam eliminates 89.9% of tariff lines on goods imported from Korea within 15 years from the date of the pact taking effect. The trade deal covers a wide range of aspects including goods and service liberalization, investment, intellectual property rights, measures on food hygiene and safety, rules of origin, customs facilitation, trade defense, technical barriers to trade, competition, economic cooperation, institutions and legal matters. Vietnam and Korea look to boost two-way trade to US$70 billion by 2020 compared to over US$26 billion last year.

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CapitaLand looking to invest in Vietnam's office segment: exec

 

Thanh Nien News

  Singapore's CapitaLand Ltd is looking to invest in Vietnam's office property segment as the real estate developer seeks to grow its portfolio beyond residential and serviced apartments in the fast-growing economy. Besides land, the company is looking to buy completed office buildings and upgrade them, Chen Lian Pang, chief executive officer of CapitaLand Vietnam, told Reuters.
 

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S Korea's largest retailer comes to HCM City

 

Biz Hub

South Korea's largest retailer Emart will open its first hypermarket in Viet Nam on December 28 in Go Vap District in HCM City. The 6,000sq.m hypermarket will sell foods, fast moving consumer goods, household utensils, electronics, and clothing from around 1,000 local suppliers and a wide range of Korean and Emart's own products. Emart Go Vap also comprises a food-entertainment complex as Emart wants to turn it into a "happy hypermarket" for Vietnamese consumers.

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Amata to build industrial zones

 

Vietnam News

Thai-owned Amata Viet Nam Company Ltd has announced plans to invest over US$2.2 billion to build new zones in Viet Nam. According to CEO of the company, said the park would solicit investment in research and development facilities, logistics and exhibition centers and scientific laboratories. It is planned for completion in the next two years, she said, adding it is expected to generate revenues of $5 billion a year and create 300,000 jobs. Amata City Long Thanh in the Dong Nai will be built at a cost of $634 million with three components.
 

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Investor buys 52% stake in Kim Lien

 

Vietnam News

An investor paid more than VND1 trillion (US$44.4 million) to acquire nearly 3.65 million shares of Kim Lien Tourism Joint Stock Company, or 52.4 per cent of its charter capital. Yesterday, 36 investors, including 19 institutions and 17 individuals, registered to buy a total 131.1 million shares, which was 36 times more than the offered number. These shares were sold to the highest bidding price of VND274,200 ($12.19) each, a nine-fold increase over the starting price of VND30,600 ($1.36). Details about the investor who bought the shares have not yet been disclosed.
 

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Nearly VND 750 billion is used for the construction of a new road  leads to Gamuda NUA

 

Vietnam Plus

People's Committee of Hanoi has approved the plan to continue implementing the project proposals of constructing a line from Red River dike to the new urban area C2 – Gamuda Gardens (Hoang Mai Dist.). The total investment of this project is about VND 746 billion . This road is planned to be 2,600m long, and 40m wide. This project will start in 2016 and finish in 2019. [The original article is available in Vietnamese only.]
 

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Thang Loi Hotel to become Hilton Hanoi Westlake

 

Biz Hub

The Thang Loi Hotel Joint Stock Company and Hilton Worldwide Group signed an agreement on December 15 to transform the Thang Loi Hotel to Hilton Hanoi Westlake. The Hilton Hanoi Westlake is the Hilton brand's third hotel in the capital city, following Hilton Hanoi Opera and Hilton Garden Inn. Accordingly, Hilton Worldwide will operate the new Hilton Hanoi Westlake which is expected to open in 2018 and will feature 250 rooms. The four-star Thang Loi Hotel was built in 1973 with assistance from the Cuban government. It is located on Yen Phu Street, 5km from the city centre. The hotel, situated near West Lake, covers a total area of 4.5ha.

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Hong Kong bourse to welcome first Vietnamese firm next year: report

 

Tuoi Tre News

A firm owning well-known food brands including "Mon Hue," "Com Express" and "Pho Ong Hung" will become the first Vietnamese company to list on a foreign stock exchange, the news website of the government, baochinhphu.vn, reported. Huy Vietnam Group Limited, which runs a chain of over 85 restaurants serving Vietnamese cuisine across the three brands in the two biggest cities of Hanoi and Ho Chi Minh City, is expecting to complete its filing for an initial public offering (IPO) on the Hong Kong Exchanges and Clearing (HKEx) later this month.

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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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