CBRE Vietnam’s Top Property News Stories – W5/2016

• No new launch:
• The most actively advertised project is:
  • Van Xuan Bac Sai Gon in District 12:
    • There are 19 townhouses and 4 villas
    • Price is from VND 1.78 bil/unit
    • Scale is from 55 sm to 184 sm.
  • Le Thanh Tan Tao in Binh Tan District:
    • Total area of 33,000 sm
    • Price is from 360 mil/unit
    • Scale is from 34 sm to 38 sm;
  • Saigon Mia in District 8:
    • Including 3 towers: Southern Mia , Central Mia, Northern Mia
    • Total unit is 872
    • Scale is from 50 to 145 sm/unit.

• New launch:
  • MBLand Central Point Trung Kinh in Cau Giay District:
    • This is the project’s third launch with 80 new apartments.
    • The project consists of 3 towers, each has 29 floors, 3 basements with total area of 7,106 m² and a prime location in Cau Giay district. There are 492 apartments, with measurement from 64.7 m2  and average selling price from VND 2 billion per apartment.
    • After the first launch in November, 2015 and second launch in early January 2016, 80% of the apartments have been purchased;
• Other advertisements:
  • FLC Star Tower in Ha Dong District:
    • The project consists of 41 floors (4 underground and 37 overground), including residential apartments, and a shopping center. It has a prime location in Ha Dong district: one side facing Le Trong Tan Road, one on Quang Trung road – the main road connec ting Ha Dong district to the central districts of the capital.
    • The areas of the apartments range from 59-116 m2, with 2-3 bedrooms. There are other facilities including offices for lease and four levels of parking basement;
  • HP Landmark Tower in Ha Dong District:
    • The project has a total floor area of 323,984 m2 with nearly 2,000 units. 750 units in The Pride premium complex were handed over to clients before New Year – earlier than expected.
    • Amenities include a shopping center,  leisure centers, car parking facilities, gym, outdoor and indoor pool sized 700 m2, clean water tank with a floor area of nearly 1,000 m2.

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Vietnam News

The US-led Trans-Pacific Partnership, one of the biggest trade deals in history, was signed in New Zealand on Thursday as protestors demonstrated over fears for jobs and sovereignty. The ambitious deal, promising the elimination of nearly all tariffs among the 12 member nations, aims to break down trade and investment barriers between countries accounting for about 40 percent of the global economy.

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Bao Dau Tu

Vu Xuan Thien, Deputy Director Department of Housing and Real Estate Management (Ministry of Construction) said that in January 2016, Hanoi witnessed around 1,600 successful transactions, approximately to the similar level of that on December 2015 and increased about 3% year-on-year. West Hanoi was the most vibrant area with various large projects such as Sun City (My Dinh district), Goldmark City (Ho Tung Mau district), Season Avenua (Ha Dong district) and Hanoi Landmark 51 (Ha Dong district).  [The original article is available in Vietnamese only.]

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Vietnam Investment Review

The government's VND30 trillion (US$1.33 billion) property support package will continue to be implemented until June 1. State Bank of Viet Nam (SBV) Deputy Governor Nguyen Thi Hong affirmed the continuation at the government's meeting last Friday, after some media reports said several credit institutions had stopped financing within the program. Hong said the SBV would direct relevant agencies to check the disbursement issue. It was possible that some banks ceased lending to meet their credit quotas at the end of last year, and would resume the financing this year. The authorities would also verify information and treat any bank which might complicate procedures in carrying out the property support lending.

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Biz Hub

The world’s longest three-rope cable car system, which is 6,292.5m, was inaugurated in the northern province of Lao Cai on February 1st2016 to connect Muong Hoa Valley with Fansipan Mountain – the so-called “Roof of Indochina”. It is able to carry up to 2,000 passengers per hour, with each cabin accommodating 35 people. The system, which shortens the travel time to 15 minutes instead of two days of climbing, is expected to help boosting the number of tourists to Sapa by 30-40% every year and reach 3 million by 2020. Back to top

Vietnam Investment Review

French company Groupe Auchan has stepped into Vietnam’s growing competitive retailing market  through its arm AuchanSuper. Adding to its three Simply Mart stores in Ho Chi Minh City, AuchanSuper will open 15 more, each with an area between 2,000 and 3,000 square metres. In the north, the retail giant has plans to open its first Simply Mart store in the Mipec Long Bien trade centre towards the end of 2016. By 2020, AuchanSuper aims to have 20 stores in the north. the group’s total investment into Vietnam will be as high as €35-40 million ($38-44 million) Back to top

Japanese retailer Aeon, riding on the back of its first mall in Tan Phu District, HCMC which attracts around one million guests a month, will open a second in the city in July, said senior executive vice president and CEO of ASEAN Business of Aeon. The General Director of Aeon Vietnam said the firm is spending around US$120 million developing Aeon Mall Binh Tan on 4.6 hectares, which is bigger than Aeon Mall Tan Phu Celadon which has been operational since early 2014.

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Cafef

Head of Thanh Hoa Province Civil Committee has proposed to the Head of Transportation Ministry to upgrade its city airport to an international port, first with flights to Thailand and Singapore. Currently there are three operating airport services with stable flight frequency and increasing number of passengers. The Minister has agreed with the projection for the research and planning of Tho Xuan airport to become an international port in 2030.  Tho Xuan airport in Thanh Hoa has the capacity of  600 passengers during rush hour, with design capacity of 1.2 passengers per year, and the potential to increase to 2 million passengers per year.[The original article is available in Vietnamese only.]   Back to top

Biz Hub

Ministry of Construction has issued Circular 11/2015/TT-BXD providing guidance for the establishment and operations of real estate trading floors and certification for brokerage practice. Property brokers must pass examinations to get certificates to practice. The certificate would be valid for five years from the date of issuance. In order to operate the trading floors, organizations and individuals must open a business with at least 2 people owning brokerage practice certificates. The trading floors must have at least area of 50m2. Moreover, the operating manager must have brokerage practice certificate, operating regulations, name and stable transaction address before 12 months. The Circular will come into effect on 16thFebruary.

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