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CBRE Vietnam’s Top Property News Stories – Week 31/2017

Casino operator SunCity to pick 34% stake in Vietnamese resort project for $77m, Hard Rock interested in developing casino at Laguna Lang Co, Draft law doubles foreigners’ leasehold terms in Vietnam…

     

  • Three new launches.

    • Waterina Suites (District 2)

      • Total units: 86
      • Scale: one 25-floor block. 
      • Unit size: 84 – 581 sm (1-4 bedrooms).
      • Price*: from VND 6.1 billion/unit.
    • River Panorama (District 7)

      • Total units: 491
      • Scale: one 35-floor block. 
      • Unit size: 50 – 113 sm (2-3 bedrooms).
      • Price*: from VND 1.8 billion/unit.
    • Osimi Tower (Go Vap District)

      • Total units: 480
      • Scale: three 18-floor blocks. 
      • Unit size: 48 – 52 sm (2 bedrooms).
      • Price*: from VND 1.12 billion/unit.
  • 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.

* Prices included VAT

       

  • Two new launches.

    • Grand Park Tokyo Touch (Hung Yen)

      • Total units: 139 (Park 1)
      • Scale: 4.2 ha land area 
      • Unit size: 46 – 200 sm (1-3 bedrooms)
      • Price*: from VND 20 million/sm
    • Comatce Tower (Thanh Xuan District)

      • Total units: 100
      • Scale: 6.9 ha land area 
      • Unit size: 143 – 555 sm (3-5 bedrooms)
      • Price*: from VND 27 million/sm
  • Advertisements:

    • D’ Capitale (Cau Giay District)

      • Total units: 3000
      • Scale: 50 ha land area 
      • Unit size: 55 – 92 sm (1-3 bedrooms)
      • Price*: from VND 40 million/sm
    • Sunshine City (Nam Tu Liem District)

      • Total units: 2368
      • Scale: 10.6 ha land area
      • Unit size: 80 – 122sm (2-3 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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Vietnam: Warburg-backed Vincom Retail plans $600m IPO this year
Deal Street Asia 

Vincom Retail, the Vietnamese mall operator backed by Warburg Pincus, is planning a domestic initial public offering that could become the country’s biggest share sale in a decade, people with knowledge of the matter said. The unit of Vingroup JSC, Vietnam’s largest developer, has selected investment banks to work on the offering and aims to sell shares as soon as this year, according to the people. It aims to raise about $600 million, which may include a sale of existing shares as well as new stock.
 

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Casino operator SunCity to pick 34% stake in Vietnamese resort project for $77m
Deal Street Asia

Macau-based junket operator SunCity Group has proposed to acquire 34 per cent stake in Vietnam’s $4-billion Nam Hoi An (Hoi An South) casino resort for a total consideration of HK$600 million ($76.8 million). Goal Summit Ltd, a wholly owned subsidiary of SunCity Group, will buy the entire equity interest in Star Admiral Ltd, which indirectly owns 34 per cent of the resort’s development firm, through a HK$303 million promissory note and HK$297 million convertible bonds.

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Hard Rock interested in developing casino at Laguna Lang Co
VIR

US-based casino operator and hospitality business Hard Rock International Inc. has confirmed its interest in developing a casino at Laguna Lang Co integrated resort complex in the central province of Thua Thien-Hue, according to newswire GGRAsia.
Daniel Cheng, Hard Rock’s senior vice president for casino business development in Asia, told GGRAsia that Hard Rock has finished all site studies and completed all project financing. All the company is waiting for is the Vietnamese government to issue the casino license after which Hard Rock can put the spade to the ground immediately.

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Draft law doubles foreigners’ leasehold terms in Vietnam
Vietnam Breaking News

Vietnam’s government has expressed support for a new draft law that would give foreigners 99-year leaseholds on properties they buy in key investment areas.
The Ministry of Planning and Investment presented the bill to the cabinet on Wednesday, suggesting the leasehold duration for foreigners in special economic zones should be nearly doubled from the current 50 years.

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Bitexco invests in the construction of a 40-45 storey building at the site of Saigon General Hospital
CafeF

Saigon General Hospital located at 125 Le Loi Street, Ben Nghe Ward, District 1, Ho Chi Minh City will be relocated to Nguyen Quu Trinh quadrangle. The site of the hospital will become a 40-45-storey complex invested by Bitexco Group . The complex will have offices, commercial center and five-star hotel.
In 2007, Bitexco Group has been approved by the People's Committee of HCM City to invest in building an complex on 125 Le Loi St. In return, Bitexco has to allocate 1ha of land in Ma Lang in the quadrangle of Nguyen Cu Trinh (District 1) to build a new modern Saigon General Hospital, which is larger than the existing one with the estimate investment of VND 1 trillion.

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Korean convenience store chain GS25 to enter Vietnam
Inside Retail Asia

South Korea’s GS25 convenience store chain is about to make its Vietnam debut after forming a joint venture with Son Kim Group. Vietnam will be GS25’s parent GS Retail’s first foreign market, with the first store scheduled to open before the year ends. GS Retail, holds 30 per cent of the JV, will sign a master franchise agreement with the JV later to receive royalties on trademark rights and operation.

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Thai Binh Economic Zone to be established
VIR

Prime Minister Nguyen Xuan Phuc on Saturday signed Decision 36/2017/QĐ-TTg on the establishment of Thai Binh Economic Zone in the northern province of Thai Binh.
Located on a 30,583ha natural site, the economic zone includes functional areas such as Thai Binh power centre, industrial zones, port and port services, resort and entertainment complexes, the distribution area of aquaculture and coastal protection forests, residential areas, urban areas and an administrative hub.

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Hanoi to build the largest Lotus-shaped theatre
Hanoi Times

At the Hoan Kiem district’s resident meeting, Chairman of Hanoi’s People Committee Nguyen Duc Chung said, there will be new entertainment sites to attract travelers, one of which is Lotus opera house in CV1 Park at Cau Giay District. According to him, despite of the capacity, surrounding zone of the opera house can be open for approximately 25.000 people per day.
Under Hanoi Planning and Architecture Department, the opera house is built by socialization capital and would become the biggest and most modern opera house ever in Hanoi. With the area of 4 hectares, the 54 meter house has six floors, designed in the shape of floating lotus, including offices, ice skate ring, entertainment zone…

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Hanoi to have a new 17,000 m2 sport and recreational center
Land Today


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Xa Cau sport and recreational center in Ung Hoa with total land area of 16,917.5 m2 and 48.1 billion VND invested by Thai Thinh Real Estate., JSC, will come into operation in Q2/2020.
Hanoi’s People Committee has announced Decision 4889/QD-UBND, approving for Thai Thinh Real Estate., JSC to invest into Xa Cau sport, recreational and services center.

 

 

 

 

 

 

 

 

 

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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