Property Spotlight CBRE’s weekly news wrap, featuring the latest commercial and residential real estate stories from around Vietnam. Whether your interest lies in Office Leasing, Retail Services, Residential Leasing, Residential Sales , Industrial Sales, Industrial Leasing, we’ve got the news that matters, covered.
1. Five Vietnamese Companies in Asia Pacific’s Top 500 Retailers
Five Vietnamese companies have been listed among Asia Pacific’s top 500 retailers in 2014, according to the Retail Asia Publishing Pte and the Euromonitor (Asia) Pte Ltd.
They are Saigon Union of Trading Cooperatives, with last year’s retail turnover of US$1,105 million, Big C chain under Casino Guichard Perrachon SA (US$534 million), Nguyen Kim Trading JSC (US$490 million), Saigon Jewelry Co.Ltd (US$487 million) and Mobile World JSC (US$395 million).
2. PPP Decree to Be Finalised in August 2014
On July 16, the Ministry of Planning and Investment (MPI) and the Japan Bank for International Cooperation (JBIC) held the second high-level dialogue programme, with the main contents of building the legal framework and deploying public-private partnership (PPP) programme in Vietnam.
The new Decree on PPP will be quickly completed and submitted to the Government for approval in August 2014. The ruling is expected to be officially issued in the fourth quarter of this year.
3. Vietnam Bond Yields Hit Record Low
Rising demand for Vietnam bonds dragged yields to historic lows on Tuesday as weak lending and a high value of matured bonds boosted liquidity in banks, while investors expected low inflation this year, analysts said.
The yield on government bonds at one-year, two-year and three-year terms all hit their historic lows, at 4.7225%, 5.275% and 5.73% respectively, according to Reuters fixing data.
4. M&S to Enter Vietnam
British retailer Marks & Spencer (M&S) plans to enter Vietnam.
M&S is to open a 1200 sqm flagship store at Vincom Center in Dong Khoi, District 1 in Ho Chi Minh City this summer, offering products across womenswear, menswear and lingerie as well as accessories, footwear and sleepwear.
5. Green Valley Phase 4: 81% Units Sold Out On Launch Day
According to information of Phu My Hung Development Corp., sales of Green Valley’s block B has reached 81% on their first day of availability July 19th, 2014. There were 56 units sold among 69 launched units.
Green Valley has been launched 4 phases since its first release in March, 2014, but still received the huge attention from customers. Realty experts reckon that Green Valley’s features such as superb location with golf course and scenic river nearby surpass customers’ expectation creating its unfailing attraction. Also this housing project attracts customers by its liquidity – Easy to buy, easy to sell, easy to lease and preferential house purchase loans from many banks.
6. Moody's Upgrades Vietnam Credit Ratings
Moody's Investors Service upgraded the ratings of Vietnam on Tuesday, citing the country's emerging track record of macroeconomic stability.
The rating firm said it raised the senior unsecured and issuer bond ratings of Vietnam by one notch, to B1 from B2, with a stable outlook. The new rating is four notches below investment-grade territory.
7. An Airport to Take Shape in Quang Ninh
Prime Minister Nguyen Tan Dung has authorized the Quang Ninh provincial People’s Committee to carry out the Quang Ninh air terminal project – one of the country’s four air terminal projects calling for investment.
The terminal will be used for civil and military purposes and be capable of serving both domestic and foreign flights. It is designed to receive 5 million passengers a year and even accommodate large aircraft like Boeing 777s.
It will be built in Doan Ket commune, Van Don district, covering nearly 284.6ha and at a total cost of VND5,128 billion. This is one of the key projects of the Van Don economic zone.