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CBRE Vietnam’s Top Property News Stories – Week 15/2017

Prime Minister agreed to build 36- hole golf course in Ha Nam, Japanese firms race to acquire mid-scale hotels in Vietnam​, VinaCapital completely divests Dai Phuoc Lotus…


CBRE Newspaper Updates on Residential Ads


  • No new launches:
  • Advertisements:

    • Diamond Lotus Lake View (District Tan Phu)

      • Total units: 286
      • Scale: 2 19-floor blocks
      • Unit size: 54 – 87 sm (2 – 3 bedrooms)
      • Price*: VND 1.46 billion/unit
    • Flora Fuji (District 9)

      • Total units: 789
      • Scale: three 22-floor blocks
      • Unit size: 57 – 67 sm (2 – 3 bedrooms)
      • Price*: VND 1.2 billion/unit
    • Kingsway (Binh Tan District)

      • Total units: 496 Scale: three 20-floor blocks
      • Unit size: 52 – 71 sm (1 – 3 bedrooms)
      • Price*: from VND 868 million/unit

* Prices included VAT



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  • Advertisements:

    • Goldmark City (Bac Tu Liem District)

      • Number of units: 5,000 apartments
      • Unit size: 74 – 172 sqm (2 – 3 bedrooms)
      • Price*: from VND 27 millions per sqm
    • Anland Complex (Ha Dong District)

      • Number of units: 533 apartments
      • Unit size: 53 – 91 sqm (2 – 3 bedrooms)
      • Price*: from VND 26 millions per sqm
    • Northern Diamond (Long Bien District)

      • Number of units: 192 apartments
      • Unit size: 94 – 107  sqm (2 – 3 bedrooms)
      • Price*: from VND 27 millions per sqm
    • Xuan Mai Complex – K & L Block (Ha Dong District)

      • Number of units: 696 apartments
      • Unit size: 47 – 80.4 sqm (2 – 3 bedrooms)
      • Price*: VND17 millions per sqm

* Prices included VAT

Note: Selected newspapers include Dau Tu Bat Dong San, Thoi bao kinh te Vietnam, The gioi thong tin bat dong san, CafeF, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, Vnexpress

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VinaCapital completely divests Dai Phuoc Lotus
Vietnam Investment Review

Vietnam Opportunity Fund Limited under VinaCapital, the leading asset management and real estate development firm in Vietnam, announced on April 10 that it has divested its entire stake in the Dai Phuoc Lotus real estate project located in the southern province of Dong Nai, near Ho Chi Minh City. The site is a future residential township development with a total site area of 198.5 hectares and was acquired with VinaLand Limited in 2007. The project is currently undergoing its first phase in construction and sales. This transaction will result in net cash proceeds of $16.5 million to VinaCapital. As a result of the sale, VOF’s holding in direct real estate development projects has been reduced to 5.2 per cent of the total NAV.

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Japanese firms race to acquire mid-scale hotels in Vietnam​


Grandvrio Da Nang, a 4-star hotel, was officially opened by Route Inn Group. This VND 4 billion project is a milestone for Route Inn Group midscale hotel business in Vietnam. According to Nikkei Asian Review, Super Hotel, a Japanese hotel chain, has just opened two hotels in Hanoi. Japanese firms in this sector expect to catch up with high demand for hotel from North East Asia tourist which is rising in recent years. 

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Hanoi Mulls Filling in Part of Thanh Cong Lake for Housing Project Despite Local Opposition


The Hanoi People’s Committee and Department of Construction are considering a proposal to reclaim one hectare of Ba Dinh District’s Thanh Cong Lake to build a resettlement apartment complex. Viet Hung Urban Development and Investment JSC (VIHAJICO), the proposed project's developer, told DTI that, if approved, the lake infilling would reduce the time needed to finish their previously assigned resettlement project, since residents wouldn’t have to move to temporary housing.

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Da Nang plans to build 4.4 ha central square project

The designs for Central Square master plan and architect are under selecting process by Da Nang City People's Committee. This project covers 4.4 ha in the centre of Da Nang. The site is bordered by four streets: Bach Dang street in the East, Phan Chau Trinh street in the West, Nguyen Thai Hoc street in the South and Hung Vuong street in the North.   





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Proposal to encroach Nha Trang Bay

Based on the new proposal master plan, Nha Trang Bay will be encroached in some area to get land for city developments. Khanh Hoa Province's People Committee held a meeting with all related departments for this revised 1/2000 master plan. The area locates in the East of Tran Phu and Pham Van Dong street.

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VND 1 billion condominum units attract buyers 

1,100 condominium units were successfully transacted in March, an improvement by 22,2% when compare to February number. Thi improvement show that demand is still high, especially in projects which offer around VND 1 billion per unit. According to Housing and Real Estate Market Management Agency, the market maintain stable in term of price. Sold units focused in mid-end and affordable segment. 

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Prime Minister agreed to build 36- hole golf course in Ha Nam





PM Nguyen Xuan Phuc has approved another golf course, with a 36-hole golf course to be built in the northern province of Ha Nam. PM Phuc has just asked the Ha Nam Provincial People’s Committee to carry out the project. According to the committee, The Kim Bang Golf Course, the first in the agricultural province, will be built on an area of 198.24 ha in Ba Sao Town, Kim Bang District with total investment of over VND1 trillion (USD44.230 million). The project will be put into operation in early 2018, the committee said.

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River Bus Routes from District 1 to Phu My Hung will be put into operation in June

HCMC has approved for investors to deploy 2 more river buse routes 3 and 4. These two routes go from District 1 through District 7. According to information from the People's Committee of HCMC, to solve the road traffic pressure for HCMC, the People's Committee of HCMC has approved for Thuong Nhat Company Ltd to build river bus route (expected to put into operation in June 2017) as well as to research reasonable fares to encourage people to use the service.

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Proposal to build a 4-lane bridge connecting Mai Chi Tho Boulevard and Diamond Island

The People's Committee of HCMC has proposed the Prime Minister to allow the application of contractor designation (short form) for the process of project formulation, survey, design and appointment of construction contractors to construct the bridge through Diamond Island (District 2). The project is more than 800 meters long, 27 meters wide (4 lanes) with a total investment of about VND 494 billion built on the Saigon riverside. This is the road connecting Mai Chi Tho Boulevard and Diamond Island as well as An Phu Ward with Binh Trung Tay Ward (District 2).

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HCMC: VND 1,400 billion to open 6 lanes parallel to Cong Hoa

HCMC Department of Transportation is coordinating with the Ministry of Defense to survey the design of a 4.3 km long road with 6 lanes; Connecting point from Tran Quoc Hoan Street, running parallel to Cong Hoa Street. According to preliminary calculations of the Department of Transportation HCMC, investment costs for this road about 1.400 billion. To reduce the congestion at Tan Son Nhat Airport, it is planned to build a terminal for 10 million passenger on Hoang Hoa Tham Street, Tan Binh District. Preliminary total investment of phase 1 is over VND 304 billion. In particular, the equity of investors accounts for 15% of the total investment, the rest is from the loan. The contract duration of the project is expected to last 29.9 years.

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Vietnam and U.S. travel societies to jointly launch tourism products


The societies of travel agents of Vietnam and the U.S. signed a cooperation agreement in Hanoi last week to boost tourism by promoting destinations, launching new products and exchanging business information. The U.S. is a major source market for Vietnam’s tourism sector. According to the Vietnam National Administration of Tourism, more than 552,000 Americans visited Vietnam last year, up 12.5% against the same period in 2015 and accounting for over 5% of all international arrivals in Vietnam.

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