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CBRE Vietnam’s Top Property News Stories – Week 16/2017

The Ministry of Construction proposes to issue a "red book" to Condotel. VND 8,700 billion for moving Tan Thuan port and building Thu Thiem bridge 4. Spending nearly VND 2,000 billion, Novaland has the third acquisition…


CBRE Newspaper Updates on Residential Ads


  • One new launch:

    • Hado Centrosa – Block Iris 3 (District 10)

      • Total units: 2,187 
      • Scale: 8 blocks from 4-5 to 26-30 floors
      • Unit size: shophouse: 60.5 – 88 sm; condos: 47 – 240 sm (1 – 3 bedrooms and duplex)
      • Price*: from VND 45 million/sm
  • Advertisements:

    • Summer Square (District 6)

      • Total units: 256 
      • Scale: one 18-floor block
      • Unit size: 50.78 – 75.25 sm (2 – 3 bedrooms)
      • Price*: VND 1.45 billion/unit
    • Heaven Riverview (District 8)

      • Total units: 960 
      • Scale: two 18-floor blocks
      • Unit size: 50 – 69 sm (1 – 2 bedrooms)
      • Price*: from VND 800 million/unit
    • The Pegasuite (District 8)

      • Total units: 1,150 
      • Scale: one 37-floor block and one 35-floor block
      • Unit size: 60-100 sm (2 – 3 bedrooms)
      • Price*: from VND 900 million/unit

* Prices included VAT


  • One new launch

    • Northern Diamond (Long Bien District)

      • Number of units: 196 
      • Unit size: 94 – 107.6 sm (2 – 3 bedrooms)
      • Price*: from VND 26 million/sm
  • Advertisements:

    • D'.Capitale (Cau Giay District) – C7 Building

      • Number of units: 432 
      • Unit size: 71 – 111 sm (1 – 3 bedrooms)
      • Price*: from VND 49 million/sm
    • Gemek Premium (Ha Dong District)

      • Number of units: 992
      • Unit size: 65 – 91 sm (2 – 3 bedrooms)
      • Price*: from VND 15.6 million/sm
    • Eco Lake View (Hoang Mai District)

      • Number of units: 1,218 
      • Unit size: 65 – 100 sm (2 – 3 bedrooms)
      • Price*: from VND 22 million/sm

* 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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HCMC center will have public bicycles 

On April 21st, HCMC Department of Transportation said that this year it would pilot public bicycle service in the city center to attract people to use buses. People do not have to walk but can get bikes to move from one station to another to catch the bus. Also to attract bus passengers, reorganize the network, HCMC will build a new bus investment project for the period 2018-2020 and research on using 9 seat-vehicles, connected with fast buses and metro. HCMC currently has 142 bus routes (including 107 subsidized routes), 54 routes for workers and 141 schools participating in the program of picking pupils by vehicles under subsidized contracts.

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Spending nearly VND 2,000 billion, Novaland has the third acquisition
Vietnam Finance


The Board of Directors of Novaland has approved the transfer of the contributed capital of VND 1,938.8 billion at Gia Duc Real Estate Co., Ltd. After receiving the transfer, Novaland will hold 99.99% of charter capital of Gia Duc Real Estate Co, Ltd. Starting in 2017, this is Novaland's third "acquisition" deal. Previously, in late February, this corporation decided to transfer 99,99% of chartered capital at Bach Hop Real Estate Company Limited, equivalent to VND 213 billion. By the end of March, Novaland continued to receive nearly 34.34 million ordinary shares (equivalent to VND 343.4 billion) of Phu Dinh Port Joint Stock Company to raise its ownership to 59.73% It acquired Harbor City project (District 8, HCMC).

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HCMC invested VND 6,000 billion to build smart traffic management center


According to HCMC Department of Transport, the project "Building intelligent traffic management center" will be implemented in the period 2017-2020 with total investment capital of about VND 6,000 billion.
In the first phase, the project "Upgrading existing traffic control system for urban traffic management" will be implemented in this project with a total investment capital of VND 250 billion. This project will connect the traffic signal system and camera installation on 78 routes and 300 intersections.

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The Ministry of Construction proposes to issue a "red book" to Condotel


The Ministry of Construction has just written a response to the Vietnam Real Estate Association for recommendations on the property type of coastal Condotel, particularly the proposal of providing "red books" for this type of property.
In terms of finance, the Ministry of Construction proposes to supplement regulations on collection of land use fees for mixed land to suit this type of property (it is proposed to assign the Ministry of Finance and the Ministry of Natural Resources and Environment to research). Other proposals of the Vietnam Real Estate Association such as duration of ownership, transfer of contracts, ownership of foreigners, investment in infrastructure … Ministry of Construction said those have been recorded and will coordinate with the concerned agencies to study and submit to authorities for consideration and settlement.

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VND 8,700 billion for moving Tan Thuan port and building Thu Thiem bridge 4


Thu Thiem Bridge 4 connects District 2 to District 7, total investment is more than VND 5,250 billion and fee for moving port is about VND 3,500 billion. According to the proposal, Thu Thiem 4 bridge is about 2,160 m wide and 6 lanes with the main bridge from District 7 to the end of District 2. In particular, the bridge will have two leading branches N1 and N2 in District 7, ending at Huynh Tan Phat street and the bridge section on Nguyen Van Linh street in front of the intersection between Nguyen Van Linh street and Tan Thuan 2 bridge. The project has a total investment of more than VND 5,250 billion, of which construction and equipment costs are more than VND 3,200 billion dong, clearance cost ( for district 7) is more than VND 960 billion.

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The Prime Minister agreed to adjust Can Gio coastal planning

The Prime Minister has just agreed on Research principle adjustments and additional planning for coastal areas in Long Hoa commune and Can Thanh town, in the southern part of Can Gio district, HCMC. The beach resort project in Can Gio was approved for investment 17 years ago with a total area of about 600 hectares, but for many reasons the project was postponed. By June 2015, the HCMC People's Committee has agreed to let Vingroup join the investment cooperation. Based on the results of scientific research on natural conditions, the natural environmental impacts of land encroachment and infrastructure in the area, especially the needs to protect strictly the mangrove forest reserve area , which is about 75,000 hectares, HCMC People's Committee proposed to expand the area of land reclamation, raising the scale of research planning to 2,870 hectares.



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Work starts on Vietnam’s largest textile industrial park


Construction on Rang Dong textile industrial park – the largest of its kind in Vietnam – began in Nghia Hung district in the northern province of Nam Dinh on April 18.
Vice Chairman of the provincial People’s Committee Ngo Gia Tu said that the industrial park plays an important role in the province’s sea-based economic development strategy, contributing to transferring local economic structure.
The industrial park will serve as a driving force for the locality’s socio-economic development, he stated, asking investors to mobilize resources to build infrastructure facilities synchronously to ensure the progress of the project.

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Snapshots of the tunnel project west of the Han River Bridge, that will be put into operation on 30/4


According to Management Board of investment projects to build traffic infrastructure in Da Nang city, so far, underground tunnel west of Han River bridge achieved 90% progress. The underground tunnel consists of two tunnels at the intersection with Le Duan Street with the length of 115 m and 100 m, respectively, one underground tunnel of 40 m in length between Le Duan Street and Han river bridge and vice versa. The paths of the two way streets and tunnels have an average width of 7.5 meters, enough to accommodate one car lane and one motorway lane.

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Add more than 300 parking lots on Hanoi Streets


The Hanoi Department of Transport said that they would allow to open 300 parking lots on the streets as current parking facilities only meet up to 8%-10% of the demand.
90-92% of the vehicles are kept at parking lots of apartment buildings or shopping centres.
In the coming time, they will give licenses to over 300 parking lots on the street that have met all requirements. The odd-even day parking method will also be applied on other streets this year.











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