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CBRE Vietnam’s Top Property News Stories – Week 17/2017

HCMC: Metro Line and water improvement project facing shortage of capital, Gloria Jean’s Coffee Vietnam closes last store, Sun Group confirmed as sole casino operator in Van Don, Quoc Cuong Gia Lai sells Phuoc Kien project to a partner related to Van Thinh Phat?…

 

CBRE Newspaper Updates on Residential Ads


   

 

  • No new launch:
  • 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
    • Xi Grand Court (District 10)

      • Total units: 740 (540 condos, 200 officetels) 
      • Scale: three 29-floor blocks, one 25-floor block
      • Unit size: 39.1 – 70.0  – 113.2 sm (1 – 3 bedrooms)
      • Price*: from VND 3 billion/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

       

  • No new launch
  • Advertisements:

    • Anland Complex (Ha Dong District)

      • Scale:  25-storey block
      • Number of units: 534
      • Unit size: 53.56 – 90.82 sm (2 – 3 bedrooms)
      • Price*: from VND 24 million/sm
    • T& T Riverview (Hoang Mai District)

      • Scale: 3 blocks (19-storey, 21-storey, 23-storey)
      • Number of units: 610 
      • Unit size: 49.79 – 113.37 sm (2 – 3 bedrooms)
      • Price*: from VND 20 million/sm
    • The Zen Residence (Hoang Mai District)

      • Scale: 3 blocks (31-storey, 33-storey, 35-storey)
      • Number of units: 927
      • Unit size: 52 – 106 sm (1 – 3 bedrooms)
      • Price*: from VND 28 million/sm 
    • The Artemis Tower (Thanh Xuan District)

      • Scale: 24-storey block
      • Number of units: 365
      • Unit size: 83.68 – 102.3 sm (2 – 3 bedrooms)
      • Price*: from VND 45 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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Quoc Cuong Gia Lai sells Phuoc Kien project to a partner related to Van Thinh Phat?
CafeF

Quoc Cuong Gia Lai (QCG) has received US$50 million in advance from Sunny Island Investment JSC (Sunny) to settle its loan with BIDV Quang Trung branch. Sunny Island has a chartered capital of VND250 billion and is headquartered at 8 Nguyen Hue, District 1, HCMC. The company was newly established on 16/2/2017. Address No. 8 Nguyen Hue is Van Thinh Phat office building. This is also the place where many companies related to Van Thinh Phat Group of lady Truong My Lan with many large-scale real estate projects in HCMC settle their offices. It is highly likely that Sunny Island is a related company.

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BRG, Sumitomo cooperate in Nhat Tan – Noi Bai project
Vietnam Investment Review

 

Viet Nam’s BRG Group Joint Stock Company and Japan’s Sumitomo Corporation Asia & Oceania Group will partner to execute a plan to implement the Nhat Tan – Noi Bai project. Total construction area is 2,080ha along both sides of the Nhat Tan – Noi Bai road, including four main sections with a length of some 11.7km. The detailed planning of three sections (section 1, section 2 and section 3), with the total length of some 11.1km, was approved in early 2016. The Nhat Tan – Noi Bai urban project is expected to make an important contribution to the economic and social development of Ha Noi, besides strengthening the close relationship between Viet Nam and Japan.
 

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Sun Group confirmed as sole casino operator in Van Don
Vietnam Investment Review

 

A recent document issued by the Quang Ninh People’s Committee stated that real estate developer Sun Group is the only one chosen to develop a casino in Van Don Economic Zone. The Quang Ninh People’s Committee has just sent a document to reply to Sun Group’s proposal asking the province to confirm it as the only developer chosen by the province to develop and operate the casino in Van Don Economic Zone. According to the master plan, only the resort and park project in Van Yen commune will be allowed to include a casino in the EZ. Sun Group has been pursuing this project for a long time. In Van Don, Sun Group has also been building Van Don Airport.

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World’s biggest brands eye Vietnam franchise opportunities
Inside Retail Asia

 

Vietnam’s franchising market continues to flaunt its potential as a new wave of the world’s biggest brands are aggressively seeking franchising partners. Sean T Ngo, CEO of VF Franchise Consulting said that with over 95 million people and one of the fastest GDP growth rates in the world of Vietnam, franchisors have taken significant opportunities in consumer spending, especially in the food and beverage. 

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Yellow Cab Pizza Vietnam to open in suburb district
Retail News Asia

 

The Philippines’ Yellow Cab Pizza is about to open its first restaurant in Vietnam. The chain, owned by Max’s Group, which is rolling out franchised eateries across Southeast Asia, will launch in Ho Chi Minh City. But instead of debuting in the CBD, District 1, as most international brands have traditionally done, Yellow Cab Vietnam has chosen the sub-urban area of Hau Giang street in District 6.

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HCMC to start construction on the new East Bus Station
The Saigon Times

On 26 April, Saigon Transportation & Engineering Corporation (Samco) has started the new East Bus Station project in District 9, HCMC. According to the plan, the project will complete phase 1 by the end of 2017 to relocate the current bus station. The new East Bus Station project is located next to the Hanoi Highway on the land of District 9 of Ho Chi Minh City, and part of the Di An Town, Binh Duong Province. The bus station has a total area of 16 hectares (nearly three times larger than the old East Bus Station). This is a complex consisting of car terminal area combined with many other utility services such as high-rise parking lot, reparation area, transfer station for refueling and transaction, commercial and service area.
 

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Gloria Jean’s Coffee Vietnam closes last store
Inside Retail Asia

 

Gloria Jean’s Coffee Vietnam has closed its last store – after 10 years of operation. The final outlet of the Australian-headquartered global chain was in the Phu My Hung residential area of District 7, a popular suburb with Asian expats and said to be the best performing store, according to its owner. Gloria Jean’s arrived in Vietnam in 2006 through a franchise agreement and was once a popular stop among Saigon youth with locations mostly in the CBD and big shopping malls.

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HCMC: Metro Line and water improvement project facing shortage of capital
Tuoi Tre

 

Due to the fact that budget allocation from the central government does not meet the requirements, the two ODA projects are the Metro line no. 1 and the second phase of the water environment improvement project are confronting difficulties and there is a risk of stagnation. The shortage of capital occurred from Q3 2016, forcing HCMC to extract from the city’s budget to transfer to the contractor but prolonged situation will seriously affect the construction progress of these two urgent projects. 

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Cost increases on Hanoi Metro Line 2
Vietnam Investment Review

 

After four months of adjustments following the instructions of the prime minister, the Hanoi People’s Committee has completed the basic design plan and total investment adjustments for urban railway project Hanoi Metro line 2 Nam Thang Long – Tran Hung Dao. Up till now, the investment for the project add up to a total VND 35,678 billion (US$1.57 billion), VND 16,123 billion (US$709.4 million) higher than the amount fixed in Decision No.2054. Except for site clearance compensation, the amount of which decreased by VND 154 billion (US$6.78 million), all expenses have risen. Particularly, construction expenses rose by VND 6,571 billion (US$289.12 million), equipment expenses rose by VND4.310 trillion (US$189.6 million), consultancy expenses rose by VND 1,550 billion (US$68.2 million), and the provision rose by VND 3,354 billion (US$147.58 million).

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Haiphong’s infrastructural renaissance keys interest
Vietnam Investment Review

 

With a modern transport infrastructural system taking shape, the northern city of Haiphong expects to become a gateway connecting the north of Vietnam to the world and attract an influx of investment that would help realize its vision of becoming a greener port city. On May 12, 2016, Cat Bi International Airport officially started operation after a major upgrade that costs a total of VND 5,100 billion (US$224.67 million). Meanwhile, the Halong- Haiphong expressway and Bach Dang bridge are going to reduce the travel time between Halong and Haiphong to a little over 20 minutes. In 2018, this expressway will start operation too. Recently, the government allowed six localities to turn the 500km coastal road stretching between Thanh Hoa and Mong Cai (northeastern Quang Ninh province) through six provinces and cities into an expressway. 

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FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Director

T +84 8 3824 6125

dung.duong@cbre.com

 

An Nguyen
Director

T +84 4 2220 0220

an.nguyen@cbre.com

 

 

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