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CBRE Vietnam’s Top Property News Stories – Week 30/2017

Bitexco steadfast in pursuing $1.35 billion urban project, Starbucks Vietnam expands to third city, 2,700 newly founded enterprises are real estate enterprises…

   

 

  • No new launch.
  • 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*: from 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*: from VND 990 million/unit.
    • Khuong Viet (Tan Phu District)

      • Total units: 233.
      • Scale: one 17-floor block.
      • Unit size: 51 – 94 sm.
      • Price*: from VND 1 billion/unit.

* Prices included VAT

       

  • No new launch
  • Advertisements:

    • The K-Park (Ha Dong District)

      • Total units: 951
      • Scale: 13.7 ha land area 
      • Unit size: 54 – 93 sm (2-3 bedrooms)
      • Price*: from VND 20 million/sm
    • Sunshine City (Nam Tu Liem District)

      • Total units: 2,368
      • Scale: 10.6 ha land area
      • Unit size: 80 – 122 sm (2-3 bedrooms)
      • Price*: from VND 29 million/sm
    • The Golden Palm (Thanh Xuan District)

      • Total units: 405
      • Scale: 5.8 ha land area 
      • Unit size: 63 – 120 sm (2-4 bedrooms)
      • Price*: from VND 35 million/sm
    • T&T Riverview (Hoang Mai District)

      • Total units: 610
      • Scale: 8.6 ha land area 
      • Unit size: 50 – 113 sm (2-3 bedrooms)
      • Price*: from VND 19 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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IMF: Vietnam's growth will be 6.3% in 2017
Hanoi Times

The IMF forecasts that Vietnam’s growth will be 6.3 per cent in 2017 and the same in 2018.
Higher long-term growth would require more forceful reforms to create a level playing field for the private sector, upgrade the country’s institutions, and reorient its growth model, to be led by the private sector, before rapid aging sets in, according to the IMF.
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Starbucks Vietnam expands to third city
Inside Retail Asia

 

Starbucks Vietnam has opened its first store in Hai Phong, marking its expansion into a third city.
The store is located at 15A Tran Phu Street, described as a vibrant district in this port city.
Starbucks Tran Phu is a new endeavor for Starbucks Vietnam, coming not long after the brand’s milestone of opening the first Starbucks Reserve store in Hanoi.

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Lotte signs contract to build $884 million Eco-Smart City
VIR

 

On July 25, Korean Lotte Group and the Ho Chi Minh City People’s Committee signed a contract to build up the VND20.1 trillion ($884 million) Eco-Smart City in Thu Thiem New Urban Area.
Accordingly, four affiliates belonging to Lotte Group (Lotte Asset Development, Lotte Shopping, Lotte Hotel, and Lotte Engineering and Construction) will implement this project.
With the investment capital of $884 million, Lotte Eco-Smart City was designed as a modern complex covering six plots in Functional Area 2A in Thu Thiem.

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Sun Group and DIC Corp co-operate in An Thoi urban area project (Phu Quoc)
CafeF

 

According to DIC Corp, the company has just set up Phu Quoc Urban Development JSC to invest in building An Thoi urban area in Phu Quoc. This is a company invested by DIC Corp and Sun Group to implement the project of An Thoi urban area in Phu Quoc district. The chartered capital of the company is VND750 billion, of which DIC Corp contributed VND50 billion, equivalent to 6.67%. The remainder is contributed by Sun Group.

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2,700 newly founded enterprises are real estate enterprises
Cafe Land

 

In the first 7 months of 2017, the number of newly registered real estate enterprises has reached 2,706, up 68% y-o-y, according to the Ministry of Planning and Investment.
In July 2017, the number of newly founded enterprises are 11,677, with the total registered capital of 94,543 billion VND, up 8.7% in the number of enterprises, and down 14.5% in total capital compared to last month. Meanwhile, there are 1,165 enterprises, closing down and 2,123 enterprises returning to operate.

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FLC won bid for 1,000 billion VND land plot in Dai Mo, Ha Noi
CafeF

On July 25th, FLC Group won the bid for the right for land usage of DM1 land plot in Dai Mo, South Tu Liem, Hanoi.
FLC is completing the next procedure with Hanoi Municipal People's Committee and other institutions to develop the project. FLC Group is expected to invest in a city complex consisting of 91 townhouses, 54 villas, kindergartens, high-rises and social houses, completed and coming into operation at the end of Q2 2019. 

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Bitexco steadfast in pursuing $1.35 billion urban project
VIR

 

In late 2015, Bitexco Group partnered with Emaar Properties PJSC to establish a joint venture to take over the project of Binh Quoi-Thanh Da urban area in Binh Thanh district, Ho Chi Minh City with an estimated total capital sum of VND30.7 trillion ($1.4 billion). In October 2016, the foreign investor officially quit the project.
In spite of the withdrawal of joint venture partner Emaar Properties PJSC, Bitexco Group, a leading Vietnamese developer, is still pursuing the development of this project. 
According to newswire Cafef, the Ho Chi Minh City People’s Committee has submitted Bitexco’s proposed plans to the prime minister for approval.

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FDI flows in real estate sector in Vietnam in the first 7 months of 2017
CafeF

 

Real estate sector in Vietnam continues to attract the interest of foreign investors. According to the newly released report of the Foreign Investment Agency under the Ministry of Planning and Investment, over US$1.1 billion of the total US$21.93 billion flows in real estate, ranked third in 18 sectors invested by FDI in the first 7 months of 2017.

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Vietnam hotel sector starts to feel the heat from Airbnb
Tuoi Tre News

 


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As more and more holidaymakers turn to Airbnb for accommodation in Vietnam, the local hospitality sector is beginning to feel the pressure. Founded in August 2008, Airbnb is an online platform where users list and book unique accommodations, from apartment rentals and homestays to hostel beds and hotel rooms, around the world. The platform, now available in more than 65,000 cities and 191 countries, is putting a serious dent in the market share of traditional hotels.

 

 

 

 

 

 

 

 

 

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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