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CBRE Vietnam’s Top Property News Stories – W9/2015

Hanoi will have a new project near Ho Guom, VietinBank to merge with PG Bank, Vietnam scales down controversial Long Thanh Airport with 15 percent cut in cost estimate, The area of social housing will range from 25 sm to 90 sm, VEC to sell highway projects in 2015 ….

CBRE Newspaper Updates on Residential Ads 

 

 

 

  • In February 2015, there were 30 advertisements from 13 projects in HCMC.
  • The limited advertisement activity was due to Tet holiday.

  • In February 2015, there were 15 advertisements from 4 projects in Hanoi.
  • The limited advertisement activity was due to Tet holiday.

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Vietnam scales down controversial Long Thanh Airport with 15 percent cut in cost estimate

Vietnam Breaking News

Vietnam’s Ministry of Transport has slashed its estimate of the cost to build Long Thanh Airport in the southern province of Dong Nai, from over US$7.8 billion to around $6.6 billion.

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The area of social housing will range from 25 sm to 90 sm

CafeF

Government is collecting feedback on Draft of Housing Management which includes the proposal of type and design standards of social housing. According to the Draft, the area of social housing is restricted from 25 to 90m2. For apartments, the number of 25-30m2 units and 70-90m2 units cannot make up over 20% of the total units. When it comes to landed, the number of units built on 70-90m2 of land is limited to 10% of total units. Buyers could only sell, mortgage and rent out their houses after a full payment. Prices are determined by developers with a condition that total profit is not exceeding 10% of total capital invested.[The original article is available in Vietnamese only.]

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Parkson profits slump 

Inside Retail Asia

Parkson Retail Asia has reported a 24.6 per cent slump in net profit – largely attributed to new store establishment costs. The Singapore-based department store operator has reported a second quarter trading profit of S$10.23 million. The company’s biggest problem markets appear to be Malaysia and Vietnam where same store sales are showing negative growth. And in Vietnam the company accrued costs relating to the closure of a store in the capital city, Hanoi.

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Thai retail leader Central Group to invest $1.14 billion in 2015

Thanhnien News 

Thailand's largest retail conglomerate, Central Group, plans to invest 37 billion baht ($1.14 billion) this year, expanding at home and in Southeast Asian neighbours by opening new malls to tap into cross-border trade and lining up acquisitions.

Central Group is among a group of major Thai companies looking to buy more international assets, especially in Vietnam, Indonesia and Malaysia. Middle-class customers' purchasing power is strong in these countries, allowing Thai firms to diversify revenue sources and offset weak consumer spending at home.

 

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VEC to sell highway projects in 2015

CafeF

In 2015, VEC is transferring the rights to develop highway projects, by privatizing state-owned joint stock or limited liability companies. VEC proposed the establishment of 2 companies for 2 projects: Cau Gie-Ninh Binh and HCMC-Long Thanh-Dau Giay with capital required being VND 900 billion and VND 4.700 billion.[The original article is available in Vietnamese only.]

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Property market recovery sees new investors enter the fray

Vietnam Investment Review

A new emerging name is the HBI Joint Stock Company, which recently started construction on its Imperia Garden complex in Hanoi. Located on 4.2 ha site in Thanh Xuan district, Hanoi, Imperia Garden will squeeze in a population of 5,000 people and be ready for its first tenants in 2017. Another new face, TNR Holding, recently launched its Goldmark City Hanoi with 5,000 apartments. Situated at 136 Ho Tung Mau street in the west of Hanoi, Goldmark City covers 12 hectares and good transport links in the future.

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Hanoi approved 22 projects tender 1st in 2015

CafeF

Hanoi People's Committee has approved "List of projects announced the selection of investment in Ha Noi in 2015 using funds outside the budget." There are 22 projects in the city with total area under construction planning about 34,85ha. The projects which located in the district as Tay Ho are 3 projects, Hoang Mai District has 3 projects … Besides, Gia Lam District has 5 projects with nearly 13 hectares of land planning. Thanh Tri District accounted for 6 projects, focus in the trade and service center. [The original article is available in Vietnamese only.]

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Hanoi will have a new project near Ho Guom

CafeF

A complex of office and commerce will be constructed at No.10 Trang Thi, Hoan Kiem District, Hanoi by VIHA Real Estate JSC. The project has just been proposed to Hanoi People Committee and waiting for an official construction approval.[The original article is available in Vietnamese only.]

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Vietnam tourism continue to grow during Lunar New Year of Goat

CafeF

Revenue from tourism within 10 days of Tet reached  VND 50 billion. Social revenue from tourism services in the same period landed at over VND 150 billion. Average occupancy stood above 70%. The number of domestic tourists increased, while that of international ones went down to  17%.[The original article is available in Vietnamese only.]

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Vietnam surpassed Thailand to become the biggest exporter of the USA in SEA 

Cafe Biz

According to US. Statistics, 2014 recorded the highest export turnover of Vietnam in America, reaching US$24.9 billion (higher than Vietnam Statistics). Meanwhile, export turnover from the US to Vietnam only stayed at US$5.7 billion 1/3 of export goods from Vietnam to US is Clothing, which accounts for 9.26% American Clothing market..[The original article is available in Vietnamese only.]

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Vietnam ranks 10th worldwide in remittances 

Vietnam News

Viet Nam was among the top 10 countries in the world with the largest amount of remittances from abroad last year, with around US$12 billion, according to the Western Union company, which handles money transfers worldwide. For the last four years, remittances have significantly increased. In 2011, the figure was $9 billion, in 2012 $10 billion, in 2013 $11 billion and last in 2014 $12 billion. Remittances from the US to Viet Nam accounted for 57 per cent, followed by Australia, Canada, Germany, Cambodia and France.

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Vietnamese consumer confidence "largely intact": Economist

Vietnam News

Vietnamese consumers started 2015 with their confidence broadly unchanged after a tumultuous 2014, ANZ Bank Economist Glenn Maguire said in a recent report. According to the chief economist of the bank, in South Asia, ASEAN and the Pacific, the ANZ-Roy Morgan Vietnam Consumer Confidence index fell slightly to 135.4 in January, down 0.2 points from the previous month, and slightly above the 2014 average of 133.3.

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Vietnam Endless urbanization threatens green

Vietnam News

Everything has its price. But the price Viet Nam is paying for industrialisation and urbanisation seems too much to bear. Citizens and experts in Ha Noi and HCM City have expressed concerns over the destruction of the cities' greenery to make room for the country's first metro lines. It's been heart-rending watching the trees fall away, only to be replaced by more concrete.

 

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VietinBank to merge with PG Bank

Vietnam News

In January, State Bank of Viet Nam Governor Nguyen Van Binh urged Vietinbank, along with Vietcombank, to actively take part in the national banking reform process by handling weak lenders in the country. This is in line with general schemes to consolidate the two banks' positions in the market in the future, he said.

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