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CBRE Vietnam’s Top Property News Stories – Week 37/2017

HCMC says no to apartments smaller than 25sq.m, HCMC to invest trillions dong in a series of projects serving Sea Games 2021 in Ho Chi Minh City, THACO becoming new BMW and MINI distributor in Vietnam…

 

 
CBRE Newspaper Updates on Residential Ads
 
     

  • No new launch.
  • 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.
    • The Eastern (District 9)

      • Price*: from VND 20 – 22 million/sm.
      • Unit size: 50 – 69 sm (1-2 bedrooms).
      • Scale: one 20-floor block, one 22-floor block
      • Total units: 648 
    • 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:

    • 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
    • Vinhomes Riverside – The Harmony (Long Bien District)

      • Total units:1400
      • Scale: 97 ha land area
      • Unit size: 90 – 315 sm (villas, apartments, single houses)
      • Price*: from VND 88 million/sm
    • Valencia Garden (Long Bien District)

      • Total units: 366
      • Scale: 10.8 ha land area 
      • Unit size: 60 – 93 sm (2-3 bedrooms)
      • Price*: from VND 19.5 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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HCMC says no to apartments smaller than 25sq.m
Vietnamnet

The municipal People’s Committee has issued Document 5657/UBND-DT stipulating the minimum areas of apartment units, with a minimum of 45 square meters for commercial condos and 25 square meters for social homes. The city government stressed that construction of small-sized apartments would speed up urbanization and increase population, this placing more pressure on the city’s already-strained infrastructure. 

 

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Rach Chiec Sports Complex project to be restarted, real estate prices are rising in the East of HCMC
CafeF

Rach Chiec Sports Complex project was approved in 1994. HCMC People's Committee decided to build the project on an area of 222 ha. However, over the past 20 years, this place is still marshes, ponds and lakes. This project will be restarted to host the 31st SEA Games. The stadium will be the most modern one in Vietnam with 50,000 seats. Ho Chi Minh City is speeding up clearance of Rach Chiec area and is expected to get the whole site to be ready for construction by the end of Q1 2018..

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HCMC to invest trillions dong in a series of projects serving Sea Games 2021 in Ho Chi Minh City
CafeF

According to the HCM City People's Committee, the amount of money spent on organizing Sea Games 2021 is VND945 billion, of which VND200 billion is expected to come from sport delegations , television rights and commercial exploitation. The remaining VND745 billion is come from the HCMC budget. The cost of building and repairing facilities for SEA Games 31 is about VND 9,000 billion and most of them are socialized. The investment projects include: training ground and stadium for indoor soccer (Futsal), volleyball, basketball, office; accommodation for athletes, coaches and service staff; canteen, food service, entertainment for athletes and coaches at Phan Dinh Phung Sports Center, the pedal cycling track at Rach Chiec Sports Complex, Rach Chiec Sport Complex…

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Financial Leasing – New opportunities for enterprises
Hanoi Times

On September 8, BiDV-SuMi Trust Financial Leasing Company (BSL), a joint venture between Bank for Investment Development of Vietnam JSC (BIDV) and Sumitomo Mitsui Trust Bank (SuMi Trust) of Japan has officially gone into operation, in turn opens a new door of opportunities in Vietnamese financial market. BSL is the first financial leasing company in Vietnam applying the joint venture model between a local commercial bank and a foreign financial institution, which has been granted the official establishment license by the State Bank of Vietnam (SBV) on April 12. BSL has charter capital of VND895.6 billion and operates as a full-fledge financial leasing company under Vietnamese regulations.

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Donaco looks beyond Vietnam and Cambodia
The Star

Australia Stock Exchange-listed Donaco International Ltd is looking to expand its leisure and entertainment operations beyond Vietnam and Cambodia. The casino and hotel operator envisages itself to be part of Asia’s primary casino markets, such as Macao, South Korea, Philippines and Japan, in the next five years. Donaco’s aim for expansion centres on three key strategies – expansion of its casino and hotel business portfolio, introducing real-time online gaming and venturing into property development.

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Vietnamese retailers stay outside competition of single-price chains
Vietnamnet

Hypermarkets, supermarkets and convenience stores are competing with single-price chains which have been cementing their positions in Vietnam. Foreign owned single-price chains have thrived in Vietnam. With professional branding and diverse products, the chains have replaced Vietnamese owned shops.

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Da Nang to build first multi-storey car park
VN Economic Times

The Da Nang City People’s Committee has approved a plan for the construction of the first large-scale car park in the central city, with eight storeys. The parking lot will be built at 255 Phan Chau Trinh in Phuoc Ninh ward, Hai Chau district, in the city center. On a total area of more than 1,000 sq m, it will also include a green space and public services.

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IDICO offers IPO share volume for foreign investors
VIR

IDICO has published the specifics of its IPO on its website. Accordingly, the company will offer 55.3 million shares for sale, equalling an 18.44 per cent stake, with the initial price of VND18,000 ($0.8).The auction will be conducted on October 5, 2017 at the HoSE. Foreign investors can register to buy the entire offered share volume in Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO). 

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THACO becoming new BMW and MINI distributor in Vietnam
VIR


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After Euro Auto Corporation’s violations of Vietnamese regulations, BMW Group Asia has issued a decision to choose Vietnamese automaker Truong Hai Automobile JSC (THACO) as an investor and importer of BMW and MINI automobiles in Vietnam from January 1, 2018, according to newswire TheLeader.

 

Samsung Pay launches in Vietnam
Vietnamnet

Samsung on Wednesday launched its mobile payment service Samsung Pay in Việt Nam in partnership with the National Payment Corporation of Viet Nam. People having ATM cards of six banks –Vietinbank , Vietcombank, BIDV, Sacombank, Shinhan Viet Nam Bank, and ABBank – can use the Samsung Pay app to “tap and pay” using their smart phones at merchants’ counters across the country. It is now being trialled and will be available nation-wide from September 29.

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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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