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CBRE Vietnam’s Top Property News Stories – W7/2016

The Vietnam Channel Tower will cost double the most currently expensive tower in the world, Hanoi to invest on several new road construction projects, Big C Vietnam may be acquired by TCC Group…


CBRE Newspaper Updates on Residential Ads


  • No new launches;
  • The most actively advertised project is:

    • Kingston in Phu Nhuan District:

      • Scale from 60 sm to 125 sm
      • Price is from VND 3.1 billion/unit;
    • Golden Mansion in Phu Nhuan District:

      • Price is from VND 2.4 billion/unit
      • Scale is from 76 sm to 104 sm;
    • Saigon Mia in District 8:

      • There are 872 units
      • Scale is from 50 to 145 sm/unit.

  • No new launches;
  • Other advertisements:

    • Ha Dong Center (Ha Dong District):

      • Located on Tran Phu Street, the project has 3 wide and airy facades with a Big C supermarket on the ground level;
      • Diverse range of amenities;
    • Vinhomes Gardenia (Tu Liem District):

      • First time Vingroup introduced Duplex apartments in The Arcadia to Hanoi market;
      • Each apartment has an area of 98-102 sm and is divided into two floors. The first floor contains a living room, a kitchen and a dining room while the second floor has 2 separate bedrooms and other functional rooms.
    • Thang Long Victory (Hoai Duc District):

      • The project has been completed up to floor 16 and is expected to handed over in Q4 2016;
      • Each floor contains 20 apartments with areas 59.8 sm, 69.8 sm, 93.3 sm.

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Vietnam's Vingroup buys $22m Sydney CBD site for hotel



Multi-billion-dollar Asian development outfit Vingroup has splurged $22.5 million buying a Sydney CBD site for a major hotel complex in the first foray by a Vietnamese developer into the city. It is understood Vingroup, which bills itself as one of Vietnamese most respected brands, negotiated the deal through a special purpose vehicle in Hong Kong, buying the Alfasi site fronting 183-185 Clarence Street in Sydney. The 1,030 sm parcel sports a proposed scheme to develop a 172-room hotel, but it is understood there is no development approval as yet. The site also has potential for mixed use development including a hotel.

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Hyatt, Vietnam's Thaigroup enter $165m hotel investment deal




Hyatt Hotels Corp and Vietnam’s Thaigroup have entered a $165-million investment cooperation deal to build a Park Hyatt branded hotel project in Hanoi, according to a government report. The contract for a 300-room hotel was inked in the US during Vietnam’s prime minister visit to the special ASEAN-US Summit which opens on Tuesday. The deal comes barely two months after Thaigroup acquired a majority stake in Kim Lien Tourism JSC, which operates the Kim Lien Hotel in Hanoi. This gives rise to the possibility that the company will partner with the American hotel operator to roll out the hotel complex on Kim Lien Hotel’s location.

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Big C Vietnam may be acquired by TCC Group



According to Wall Street Journal, Casino Group may receive about EUR 4 billion from selling Big C Thailand and Big C Vietnam to Thailand TCC Group. Bloomberg also forecasts that Casino group may sell Big C Vietnam with a price of EUR 750 million. With price ranging from EUR 750 million to EUR 900 million, it will be the biggest merger and acquisition (M&A) transaction in Vietnam so far. Currently, Big C has 32 supermarkets across Vietnam and 10 convenience stores in Ho Chi Minh city. 
According to Euromonitor, Big C sales last year were about USD 546 million (around VND 12,000 billion). If the deal is completed, TCC will own the second and third largest retail brands in Vietnam, which are Metro and Big C.
[The original article is available in Vietnamese only.]

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FLC Vinh Thinh Resort to be opened



On 6th March, FLC Group will officially inaugurate an event to open FLC Vinh Thinh Resort at Vinh Tuong Ward, Vinh Phuc Province. FLC Group also starts Phase 2 of the project with 250-hectare land. The total investment is expected to be at around VND 4,600 billion. The phase 2 project is adjacent to Red River and Vinh Thinh Bridge, with golf courses, villas, 5-star hotels and entertainment facilities. [The original article is available in Vietnamese only.]

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Vietnam's online retail sales will more than double by 2020: industry



The Vietnam E-Commerce Association said online retailers in the country will continue to rake in huge revenues in the next five years with sales expected to hit US$10 billion in 2020. Online retailers posted sales of $4 billion last year and they are going to make $10 billion in 2020, accounting for 5 percent of Vietnam's total retail sales, Hung said. In 2014 that ratio was around 2.1 percent.

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Amazing discount for high-end apartments



The discount of 45% for 39 high-end apartments at The One Saigon project, located in the top prime location in HCMC, has helped the investor Capella Holdings to quickly sell them out. Many customers will have highly-profitable opportunities in early this year. The One Saigon is a finished project, selected by Ministry of Construction as one of Top 10 high-quality buildings in Vietnam, and managed by CBRE Vietnam – top property service provider.
[The original article is available in Vietnamese only.]

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Property prices to increase 5-10%


Vietnam Real Estate Association (VNREA) released a report on the recovery of the real estate market in 2016. It stated that because of the positive impact of the economy, there is an increase in the number of returning investors; as a result property prices can increase about 5-10%, more dramatically than in 2015. The report also stated that because of a rise in bond issuance rate, infrastructure will develop significantly, helping the market to rebound. [The original article is available in Vietnamese only.]

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Metro line Cat Linh – Ha Dong expected to be in operation at end of 2016


The Railway Project Management Unit and the developer of the metro line signed an agreement to complete the installation of the entire beam in April 2016, have a trial run on in September 2016 and put the metro line in use on 31st December 2016. Currently, the project has been 70% completed. [The original article is available in Vietnamese only.]

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Hanoi to invest on several new road construction projects



Hanoi approved the task of identifying redline boundary of key routes such as Ring Road 3.5 and Ring Road 4 to prepare for construction. Specifically, Ring road 3.5 through Me Linh and Dong Anh District is 10.5 km long, starting from the northern end of Thuong Cat bridge (next to the bank of Ta Hong) and ending at the intersection with Ring Road 3 Northern Red River). [The original article is available in Vietnamese only.]

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The Vietnam Channel Tower will cost double the most currently expensive tower in the world



According to great-tower.com, each meter of Tokyo Skytree costs $1.29 million, the currently highest and most expensive tower. However, it is only a half in comparison with the Vietnam Channel Tower.
It is estimated that the total budget for this project will be from $1.3 billion to $1.5 billion. Therefore, the Vietnam Channel Tower is not only the highest tower but also the most expensive one in the world. The Tokyo Skytree was built in 2011 with 634 meters and $820.4 million.
Such large amount of money for the Vietnam Channel Tower will come from VTV, SCIC and BRG. [The original article is available in Vietnamese only.]

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