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CBRE Vietnam’s Top Property News Stories – Week 47

7-Eleven recruiting in Vietnam, Japanese retailers keen to enter Vietnamese markets, CapitaLand to launch $500m Vietnam fund targeting commercial property, Hanoi to build commercial service areas and hotels in West Lake, Parkson Viet Tower closes, …

CBRE Newspaper Updates on Residential Ads


  • Two new launches:

    • Him Lam Phu An (District 9)

      • Total units: 1,092 units
      • Scale: four 17-floor blocks,
      • Unit size: 68 – 71 sm (2 bedrooms)
      • Price*: from VND 1.5 – 1.8 billion
    • Res 11 (District 11)
    • Total units: 116 units
    • Scale: 22 floors with 2 basements
    • Unit size: 48.56 – 82.48 sm (1 – 2 bedrooms)
  • Advertisements:
  • Sun Tower (District 9)

    • Total units: 1,222 units
    • Scale: 3 blocks
    • Unit size: 46 – 77 sm (2 – 3 bedrooms)
    • Price*: from VND 982 million
  • 8X Dam Sen (Tan Phu District)
  • Total units: 594 units
  • Scale: 18-storey building with 2 basements
  • Unit size: 45 – 85 sm (1 – 3 bedrooms)
  • Price*: from VND 900 million

* Prices included VAT


  • Two new launches

    • Hanoi Paragon (Cau Giay District)

      • Two 30-storey buildings
      • Scale: total area 22,000 sm
      • Unit size: 89 – 140 sm (2 – 3 bedrooms)
      • Price*: from VND 32 million per sm (basic furnished)
    • Ecohome Phuc Loi  (Long Bien District)
    • Total units: 680 apartments
    • Scale: total area 8,142 sm
    • Unit size: 45 – 108 sm (1 – 3 bedrooms)
    • Price*: from VND 16 million per sm  (basic furnished)
  • One re-launch
  • Dolphin Plaza (Nam Tu Liem District)

    • Number of units in re-launch: 20 high-end apartments
    • Scale of project: total area around 10,000 sm
    • Unit size: 133 – 198 sm (2 – 3 bedrooms)
    • Price*: from VND 35.5 million per sm (basic furnished)

* 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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CapitaLand to launch $500m Vietnam fund targeting commercial property
Deal Street Asia


Property developer CapitaLand intends to expand its presence in Vietnam, with plans to set up a new $500 million commercial fund and to acquire more residential development sites. This fund will be targeting investment of commercial property mainly in Ho Chi Minh City and Hanoi. The new fund was announced on Monday (November 21, 2016). The new fund was announced in alignment with plans by the property major to grow their total assets under management (AUM) to S$10 billion ($7 billion) from various private investment vehicles by 2020. It plans to acquire more land sites in Vietnam for residential development that potentially yield from 2000 to 2500 units. This comes at a time when Vietnam is undergoing increasing urbanization with housing demand expected to rise as the middle class grows.

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115-year old Hotel Metropole Hanoi is going to change its owner, is valued at nearly 4,500 billion

On November 16, VOF fund which is managed by VinaCapital said that the fund has signed an agreement to sell a "property" that they are managing to a newly-form group of investors. VOF expects to receive at least USD 100 million from the sale of this "property". The payment of USD 37 million has been made; the remaining amount will be paid in installments within 2 years. VOF has not announced which specifically the property is, but they publicize the audited net asset value of the property as at June 30, 2016 was USD 60 million. Looking at the portfolio of the VOF, it is not hard to find "property" VOF is preparing to sell is the Metropole Hotel in Hanoi.

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StanChart PE invests $40m in Vietnamese lifestyle platform N Kid
Deal Street Asia

Marking its second investment in Vietnam this year, Standard Chartered Private Equity (SCPE) has put $40 million in N Kid Corporation, a lifestyle platform for kids and teenagers. Cross-border investment banker BDA Partners acted as exclusive financial advisor to the deal, which sees SCPE hold ‘significant minority stake’ in N Kid.

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Parkson Viet Tower closes
Vietnam Economic Times

Parkson Viet Tower will officially close on December 15 after being open for eight years, marking an end to the presence of the brand in Hanoi. Located at the intersection of Thai Ha and Tay Son Streets, the trade center covers an area of 11,000 sqm and was expected to be the busiest shopping venue in the capital but was often quiet despite its prime location.The company did not give a reason for the closure, saying simply that it would not affect other department stores under the management of Parkson in Vietnam. In early 2015, Parkson Keangnam at Pham Hung Street in Hanoi’s Tu Liem district unexpectedly announced it would close and asked all store owners to vacate on January 3. Parkson Paragon in Phu My Hung, Ho Chi Minh City, then closed in May this year.


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Japanese retailers keen to enter Vietnamese markets
Vietnam Plus

Numerous Japanese brands have entered Vietnam. Japanese enterprises have also bought several local names, such as FamilyMart, MiniCop, 7-Eleven and City Mart. According to JETRO, there are nearly 200 Japanese convenience stores across Vietnam. The figure is expected to increase because numerous Japanese brands plan to expand in the country. JETRO launched the “Japan Fair” to sell 78 products at Japanese convenience shops in Vienam. 73 of the products are food, and most of them are being sold in Vietnam for the first time. They will be sold at 124 FamilyMart shops, 71 Ministop stores and four AEON centers across the nation by the end of November. The retail market is forecast to grow at nearly 12 percent a year to around 179 billion USD in 2020. The country has a population of over 90 million, 60 percent of whom are under 40.

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7-Eleven recruiting in Vietnam 
Vietnam Net Bridge


Japan’s 7-Eleven convenience store chain is quietly recruiting three positions on Jobstreet.com, an online recruitment website in Vietnam, though it is still to announce the opening of its first store in the country. The Seven System Vietnam JSC (7-Eleven) is recruiting for three positions, the website said: a quality assurance manager, a fresh food associate, and a marketing associate. Applicants must have three years of experience and two years of experience for the first two position while no experience is necessary for the third position, and will work in Ho Chi Minh City. 7-Eleven expects to open its first store in Vietnam by Spring 2017. These recruitment efforts are the first step in those plans coming into reality.

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Hanoi to build commercial service areas and hotels in West Lake
Vietnam Economic Times

Hanoi is planning to build a commercial service area and hotels in the West Lake urban area. The Hanoi People’s Committee has issued a decision adjusting the planning for the urban area, in Thuy Khue ward, Tay Ho district. Part of the area will be changed from land use for authorities to a mixture of commercial services and hotels. The maximum density of construction is 80 per cent, at heights from five to seven floors. The total land area affected is 967.1 sqm, of which 17.4 sqm is for road planning and 949.7 sqm  for construction. The plan aims to create additional land to meet demand for commercial services in Tay Ho district and demand for sightseeing and tourism around West Lake.

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City Infrastructure JSC sells $40m bond
Vietnam Breaking News

HCM City Infrastructure Investment JSC yesterday signed a contract to sell US$40 million worth of convertible bonds to KEB Hana Banktrustee and Custodian Business, the first tranche in its plan to issue $60 million in bonds to raise funds for its projects, the HCM Stock Exchange-listed company announced. These non-guaranteed, five-year bonds yield 1 per cent per year with the face value of $100,000.

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Seaport complex licensed in Quang Ninh
Vietnam Investment Review

A US$300 million project, consisting of a seaport and industrial park at the Dam Nha Mac area in Quang Yen town in the northern province of Quang Ninh, was granted an operating license on Friday. Investors of the project are the CDC Corporation, headquartered in the Cayman Islands, the Middle Utilities Company Pte Ltd of Singapore, and Infra Asia Investment Limited of Hong Kong. With a total investment of VND6.94 trillion (US$315.47 million), the 50-year project spans nearly 1,193 hectare of land and water surface across Tien Phong, Lien Hoa, Lien Vi, and Phong Coc communes. The infrastructure of the industrial park will be completed during the final phase, scheduled for 2032-2036. Once operational, the project is expected to create 110,000 jobs.

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Ba Ria Vung Tau plans $1.35bn logistics center
Vietnam Net Bridge


The evaluation council of the Cai Mep Downstream Logistics Center has selected a project from Japan’s Nippon Koei Company Limited, a consultant joint venture company, for the project’s construction in southern Ba Ria-Vung Tau province. The project is based on the principles of preserving the existing ecosystem and a scenario of 3 billion TEU of cargo passing through the Cai Mep Downstream Logistics Center by 2030. Total investment is forecast at around $1.35 billion. Master planning for the development of logistics services has been created by Ba Ria-Vung Tau province with a scale of more than 1,000 ha, including plans and seeking investment in a logistics center covering about 800 ha at Cai Mep Port.

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