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CBRE Vietnam’s Top Property News Stories – Week 23/2017

7-Eleven to open first store in Vietnam, VNREA launches program to develop green housing, Japanese company wants to build underground commercial town in the center of HCMC…

 

CBRE Newspaper Updates on Residential Ads


       

 

  • Two new launches:

    • The Art – Block Beethoven (District 9)

      • Total units: 1,711
      • Scale: ten 18-floor blocks 
      • Unit size: 55.9 – 67.1 sm (2 bedrooms)
      • Price*: VND 1.3 billion/unit
    • Diamond Island – Block Maldives (District 2)

      • Total units: 1,250 
      • Scale: six 29-floor blocks
      • Unit size: 55 – 138 sm (1 – 3 bedrooms)
      • Price*: from VND 58 million/sm
  • Advertisements:

    • Heaven Riverview (District 8)

      • Total units: 960 
      • Scale: two 17-floor blocks (each 480 units)
      • Unit size: 50 – 69 sm (1-2 bedrooms)
      • Price*: VND 800 million/unit
    • Saigon Mia (Binh Chanh District)

      • Total units: 872 (condos)
      • Scale: two 22-floor blocks and one 27-floor block
      • Unit size: 50 – 83 sm (2 – 3 bedrooms)
      • Price*: VND 990 million/unit

* Prices included VAT

 

       

  • New launch:

    • Golden Field (Nam Tu Liem District)

      • Total units: 437
      • Scale: 30-floor block
      • Unit size: 70 – 124 sm (2 – 3 bedrooms)
      • Price*: from VND 27 million/sm
  • Advertisements:

    • The K-Park (Ha Dong District)

      • Total of units: 951
      • Scale: three blocks from 23 – 27 floors
      • Unit size: 53 – 93 sm (2 – 3 bedrooms)
      • Price*: from VND 18 million/sm
    • The Emerald (Nam Tu Liem District)

      • Number of units: 1,344
      • Scale: two 30-floor blocks
      • Unit size: 53 – 93 sm (2 – 4 bedrooms)
      • Price*: from VND 29 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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7-Eleven to open first store in Vietnam
VIR

Japanese retail giant Seven & I Holdings Co., Inc. announced on its website that its first Vietnamese store will be officially launched on June 15, 2017 in Saigon Trade Centre. Since November 2016, 7-Eleven has been recruiting senior staff for its subsidiary in Vietnam. On May 31, 2017, the convenience store chain was still looking for service staff as well as store managers, assistants for the purchasing department, and product development assistants.

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Lotte Duty Free taps Vietnam with new airport outlet
Retail in Asia

 

Lotte Duty Free, South Korea’s top duty-free operator, said it has set up a new outlet at a Vietnamese airport, making a foray into the Southeast Asian market. Lotte clinched a joint venture deal with a Vietnamese counterpart to co-run Phu Khanh Duty Free at the Da Nang International Airport, it said in a statement. The South Korean firm owns a 60-percent stake in the airport duty free. The official opening is slated for August, with only part of the shop currently operational. It sells perfume, cosmetics, food & beverage and liquor.

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VNREA launches program to develop green housing
Bizhub

The Viet Nam Real Estate Association signed a memorandum of understanding with property developers on May 26 to build green buildings in the 2017-22 period. Under the programme, the developers are committed to developing green properties. The programme will focus on three main tasks: completing a legal framework for green buildings, training in green buildings for real estate companies and increasing public awareness of the issue, thus enhancing the popularity of green housing products.
 

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PM proposes Japanese banks buy ailing local banks
VN Economic Times

During his five-day visit to Japan, Prime Minister Nguyen Xuan Phuc recommended Japan’s Senshu Ikeda Bank acquire an ailing Vietnamese bank with a reasonable bad debt rate to hasten its plans to expand to the country. He made the proposal at a meeting on June 7 with more than 30 executives of Japanese companies in the Kansai region, including Daikin, Sakura, Acecook, Kubota, Takako, Asahi, Azusa Sekkei, and Fuji Impulse. He pledged to create favorable conditions for such a transaction.

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Japanese company wants to build underground commercial town in the center of HCMC
CafeF

Takashimaya President Shigeru Kimoto said that he planned to launch a project to build a subterranean street in Ben Thanh Ward, Ho Chi Minh City to ‘catch up’ with the metro lines of the city. The Minister of Industry and Trade, Tran Tuan Anh, expressed his support for the intention of the business and said that this is a priority of the Government of Vietnam to benefit from the underground transport infrastructure system. HCMC also made a proposal on this issue.

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Japan invested US$41 million golf course project in Hai Phong
CafeF

Hai Phong Sakura Club Golf Course is a large scale project of Hai Phong city. The project is built on an area of 98 hectares in Truong Thanh and An Tien communes, An Lao district (Hai Phong). The 18-hole international standard golf course is owned by Tokyo LLC (owned by T & K Group and Rean Estate -Japan), with an investment of US$ 41 million. The project will have a club house of 4,000 m2, including a 500 m2 house caddie, with plans to build a seaport, a marina, etc., to be completed and put into operation in 2017.

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First Old Navy Vietnam store about to open
Inside Retail Asia

California-based fashion brand Old Navy will open in Ho Chi Minh City on June 9. The store, the first for Old Navy Vietnam, will open at the Vincom Center shopping mall on Dong Khoi Street – the same mall as Zara made its Vietnamese debut last year and where H&M is expected to open later this month. The store is located at B1 floor, spanning 644 sm, underneath the Zara and expected H&M spaces. A celebrity opening ceremony will be held on June 9, with the store trading from 7pm to 9.30pm.

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More than VND 1000 billion to build Cua Hoi bridge connecting Nghe An- Ha Tinh
CafeF

Cua Hoi bridge construction project is invested in the form of public-private partnership (PPP) with a total investment of about VND 1,050 billion. The total length of the bridge is about 6.2 km. Bridge width is 12m with 2 lanes, 2 lanes mixed and ledge railing. Ha Tinh leaders pledged to try to complete the works soon on the occasion of the National Day September 2, 2018. Currently, Nghe An and Ha Tinh are connected by two main bridges on the Lam River, namely Ben Thuy 1 and Ben Thuy 2.

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North-South expressway calls for foreign investors
The Saigon Times


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The financial mechanisms are quite open compared to the current BOT projects proposed by the Ministry of Transportation (Transport) and the Ministry of Finance approved that the North-South highway project be aimed at investors who have real capacity, especially foreign investors, to prevent risks. Foreign investors are the main target of the Government's invitation to participate in bidding for 20 component projects under phase 1 of the North-South Expressway project. Therefore, the Government has decided to propose favorable conditions on financial mechanism: to raise prices right in the feasibility report on projects and contracts instead of adjusting prices according to the regulations of the Ministry of Finance; this price does not change during execution.

 

 

 

 

 

 

 

 

 

 

 

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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