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CBRE Vietnam’s Top Property News Stories – Week 34/2017

CapitaLand wades deeper into Vietnamese commercial real estate, Government details SOE divestment plan until 2020, Ho Chi Minh City to auction investment packages in Vietnam’s largest stadium,

 
CBRE Newspaper Updates on Residential Ads

       

  • Two new launches:

    • Lavida Plus (District 7)

      • Total units: 1,212 (apartments)
      • Scale: two 33-floor blocks, one 8-floor block.
      • Unit size: 52 – 96 sm (1-3 bedrooms).
      • Price*: from VND 1.8 billion/unit
    • Lavita Charm (Thu Duc District)

      • Total units: 939
      • Scale: three 20-floor blocks. 
      • Unit size: 49 – 90 sm (1-3 bedrooms).
      • Price*: from VND 1.3 billion/unit.
  • Advertisements:

    • Lavita Charm (Thu Duc District)

      • Total units: 939
      • Scale: three 20-floor blocks. 
      • Unit size: 49 – 90 sm (1-3 bedrooms).
      • Price*: from VND 1.3 billion/unit.
    • 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.
    • 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:

    • Samsora Premier (Ha Dong District)

      • Total units: 696
      • Scale: 5,985 sm land area 
      • Unit size: 58 – 88 sm (2 – 3 bedrooms)
    • Hateco Apollo (Nam Tu Liem District)

      • Total units: 1,300
      • Scale: 3.4 ha land area
      • Unit size: 50 – 90 sm (2 – 3 bedrooms)
      • Price*: from VND 17 million/sm
    • Bidhomes The Garden Hill (Nam Tu Liem District)

      • Total units: 375 
      • Scale: 5,568 sm land area
      • Unit size: 56 – 107 sm (2 – 3 bedrooms)
      • Price*: from VND 26 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 to launch venture capital regulation in 2017
Deal Street Asia

Vietnam is committed to launching detailed guidelines on the establishment of venture capital (VC) funds by the end of this year. The Ministry of Planning and Investment will issue a decree to instruct the establishment and operation of investment funds under the country’s law on supporting small and medium enterprises (SMEs). The law was approved in June this year and will take effect at the beginning of next year. Details of the decree could not be obtained as it is still in the discussion stage.

 

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HCM City’s 1st river bus begins operation
VIR

Thuong Nhat Co. Ltd. on Monday started the first public river bus route in HCM City.
The 10.8-km Bach Dang – Linh Dong route starts at Bach Dang Wharf in District 1, goes through Binh Thanh District, District 2, Thu Duc District with 12 stops en route. Five 80-seat boats have been deployed on the route, which takes around half an hour to cover compared to 45 minutes by road. The public-private operation is in test mode and would become official in October. The fare is VNĐ 15,000 (US$0.7).

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CapitaLand wades deeper into Vietnamese commercial real estate
VIR

To capitalise on the increasing interest of foreign real estate investors in Southeast Asia in general and Vietnam in particular, CapitaLand Limited has set up its first commercial fund in Vietnam named CapitaLand Vietnam Commercial Fund I (CVCFI) with a capital of $300 million.
The fund, which will have a life span of eight years, will be used to invest in Grade A commercial real estate in Vietnam. CapitaLand will hold a 40 per cent stake in CVCFI, while the remaining interest will be held by major institutional investors, the company announced on its website.

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Central Group to reinforce Vietnamese investments
VIR

Thai conglomerate Central Group will invest an additional $500 million to expand its operations in Vietnam within the next five years, aiming to set firm roots in this potential market, according to newswire Bangkok Post.
Chief executive of Central Group Vietnam Philippe Broianigo said that the additional capital will be used to expand its existing businesses in Vietnam, including shopping malls, wholesaling, hotel management, stationery shops, and especially food and electronics.

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HCMC to have about 20,000 social housing
VIR

According to the plan, by 2020, Ho Chi Minh City will strive to build 20,000 social housing houses, 35,000 residential houses for workers, workers in industrial parks and 10,000 accommodation for students.
This plan is to meet the urgent need of social housing for people, especially cadres, civil servants, officials and people with low income.

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Ho Chi Minh City to auction investment packages in Vietnam’s largest stadium
VIR

In the hosting scheme of the 31st SEA Games, the Ho Chi Minh City People’s Committee proposed the government to build a 50,000-seat stadium with the total investment capital of VND3.45 trillion ($151.8 million) called from the private sector.
The Ho Chi Minh City People’s Committee will organise an auction to select investors for this stadium at Rach Chiec sports complex in the second city's District 2.

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PT Intra Asia Indonesia to build $1-billion coal port in Vietnam
VIR

On August 23, PT Intra Asia Indonesia signed a memorandum of understanding (MoU) with Hong Phat Coal and Resources Company in connection with its plan to develop a coal port in southern Vietnam.
The port has a designed capacity of 15-20 million tonnes of coal per year and would cut logistics costs for coal imports from Indonesia by a significant margin.

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Work permits available online from October 2
VN Economic Times

Expats working in Vietnam can apply for work permits online from October 2, under Circular No. 23/2017/TT-BLDTBXH issued on August 15 by the Ministry of Labor, Invalids and Social Affairs (MoLISA).
Applications must be submitted at least 20 days prior to the day the expat begins working. Employers of the foreign worker must provide all necessary information on the person and explain why their services are needed. The ministry must respond to applications via email within 12 days of receipt. Rejections must be accompanied by a detailed explanation.

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Government details SOE divestment plan until 2020
VIR


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Deputy Prime Minister Vuong Dinh Hue has approved a list of 406 State-owned enterprises (SOEs) marked for divestment from now until 2020.
The divestment list, proposed by the Ministry of Planning and Investment, aims to raise funds for the nation’s public investment plan for the 2016-20 period, and advance the SOE restructuring process.
Under the new schedule, the State will divest from 135 businesses this year, 181 in 2018, 62 in 2019 and 28 in 2020.The total face value divestments from 2017 to 2020 is estimated at VND64.46 trillion (US$2.82 billion).

 

MPI proposes big breaks for special economic zones
VIR

The Ministry of Planning and Investment (MPI) has proposed major incentives including prolonged income tax exemptions for businesses and individuals working in special economic zones in three provinces.
The MPI is suggesting an income tax exemption of five years for individuals living and working in these zones, and a 50 per cent income tax break in the remaining years until 2030.

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Coteccons invests nearly 1,900 billion VND into Convestcons, its real estate investment subsidiary
CafeF

On 22/08/2017, Coteccons Construction JSC has decided to increase the charter capital of Covestcons Co., Ltd to VND1,872 billion. Covestcons Company Limited was established in 2017 with initial chartered capital of VND26 billion. This is a wholly owned subsidiary of Coteccons. Its main business is real estate brokerage and trading.

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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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