CBRE Vietnam Real Estate Spotlight

Hanoi five-star hotels fully booked ahead US-North Korea Summit, Ba Ria-Vung Tau licenses nine projects, Six Senses now under IHG…

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- Five Seasons (Thanh Xuan District)
  - Total units: 804 units
  - Scale: 22,500 sm land area
  - Unit size: 59 – 102 sm (2 – 3 bedrooms)
  - Price*: from VND 26.5 million per sm
- Vinhomes West Point (Nam Tu Liem District)
  - Total units: 1,099 units
  - Scale: 2,39ha land area
  - Unit size: 37 – 148 sm (1- 4 bedrooms & duplex)
  - Price*: from VND 38 million per sm

* Prices included VAT

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- Q7 Sai Gon Riverside Complex (District 7)
  - Total units: 3,580 units
  - Scale: 75,224.5 sm
  - Unit size: 53.2 – 86.69 sm (1 – 3 bedrooms)
  - Price: VND 29 million psm (excl VAT)
- Charmington Iris (District 4)
  - Total units: 1,438 units
  - Scale: 16,645 sm land area
  - Unit size: 45 -122 sm (1 – 3 bedrooms)
  - Price*: from VND 52 million psm

* Prices included VAT

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

Hanoi five-star hotels fully booked ahead US-North Korea Summit

Vietnamnet

A range of five-star hotels in Hanoi have been fully booked ahead of the US-North Korea Summit. At present, many five-star hotels in Hanoi have been booked up from February 25 to March 2, particularly on February 27-28. Representatives from some hotels said that hotel room reservation has tended to increase after Tet Holiday, but this year, it has rocketed. This is attributed to the upcoming US-North Korean Summit. Along with officials, large numbers of international journalists will come to Hanoi to attend the event.

US set to green-light direct flights from Vietnam

Retail News Asia

		U.S. aviation authorities are expected to grant a Category 1 rating to Vietnam soon, allowing direct flights between the two countries. Local airlines including state-owned Vietnam Airlines, budget airline Vietjet and new private airline Bamboo Airways have already expressed interest in opening direct flights between Vietnam and the U.S.

Japan’s Advantage Partners acquires Vietnamese fashion chain Elise

Deal Street Asia

The transaction has marked the first acquisition of a company in Vietnam by Advantage Partners’ funds. Elise Fashion was founded in 2011 as a branded fashion chain targeting women in the 20-45 age segment. The company’s operations are vertically integrated from design and manufacturing to sales at its retail locations. Elise currently operates 95 stores across Vietnam. Advantage Partners said, the deal would accelerate Elise’s growth by leveraging its experience in the women’s fashion segment.

Ba Ria-Vung Tau licenses nine projects

Bao Xay Dung

The southern province of Ba Ria-Vung Tau on February 14 handed over nine investment licences worth over 9.9 trillion VND (US$425.7 million) and nearly US$163 million to investors. The most noteworthy projects licensed are the US$115 million instant coffee production plant of Japan’s Marubeni Group; the US$12.62 million liquefied natural gas (LNG) plant of PVGAZPROM Natural Gas for Vehicles, a joint Russian-Vietnamese company; and the US$35 million cement additive production plant by CHC Vietnam

Ascott Centennial Saigon to open in 2021

Vietnam Economic Times

Ascott Centennial Saigon is the first Ascott-branded serviced residence in Vietnam and is to open in 2021. It will also be one of the first serviced residences in Vietnam equipped with smart solutions that allow residents to remotely control electrical appliances in their apartment. Ascott Centennial Saigon will have 205 spacious and fully-furnished one- and two-bedroom apartments that provide business executives with luxurious living. Residents will have access to a wide range of facilities, including a swimming pool, a gymnasium, an all-day dining restaurant, and a residents’ lounge. The serviced residence is part of a LEED sustainable mixed-use development that houses offices, educational facilities, restaurants, and retail and entertainment outlets.

Nam Long acquires 70 per cent stake at Waterfront City from Keppel

VIR

Nam Long Investment Corporation has recently announced the acquisition of a 70 per cent stake in Dong Nai Waterfront City Limited Company from Portsville Pte., Ltd., a subsidiary of Singapore’s Keppel Corporation. A Nam Long spokesperson said the Dong Nai Waterfront City project has received the decision on land allocation, approval for its 1/500 planning, and the land use rights certificate for more than 170 hectares, and has paid the land use fees. The project is expected to be built in 2019-2025 at a cost of VND9.2 trillion (US$400 million). When finished, the township will have more than 4,000 villas and 3,000 apartments, as well as a range of commercial facilities.

Property firms opt for bonds as bank loans dry up

VIR

In 2019, several policies meant to restrict lending to risky sectors like real estate have or will come into force. Among them is the State Bank of Viet Nam (SBV)’s directive to increase the risk weightage for real estate loans from the current 200% to 250%. Besides, the central bank has already reduced the maximum amount of short-term deposits that can be used for medium- and long-term loans from the current 45 per cent to 40 per cent since January 1. The central bank’s determination to tighten lending to risky sectors has forced property developers to look at other sources of funds. Analysts said developers are turning increasingly to the securities and bond markets, foreign investments and mergers and acquisitions to replace bank loans.

Six Senses now under IHG

Vietnam Economic Times

IHG (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced its acquisition of Six Senses Hotels Resorts Spas. Six Senses joins a growing number of luxury brands in the IHG family, including InterContinental Hotels & Resorts, Regent Hotels & Resorts, and Kimpton Hotels & Restaurants. Across IHG’s four leading luxury brands, guests can now enjoy nearly 300 luxury hotels around the world, with more than 100 set to open in the coming years. As part of the IHG family, Six Senses is expected to expand to 60 properties within the next ten years.

Adjusted planning on Da Nang until 2030 approved

Nhan Dan

Deputy Prime Minister Trinh Dinh Dung has approved an adjusted master plan on Da Nang city until 2030 with a vision to 2045. The plan covers the entire administrative boundary of Da Nang city with a total area of 128,543 ha in addition to economic areas adjacent to the city. The plan aims to turn Da Nang into a modern and sustainable development city and a hub of the Central and Central Highlands regions.

New Vingroup centre opens in Hai Phong

Biz Hub

The conglomerate Vingroup inaugurated its newest trade centre and hotel complex in the northern port city of Hai Phong. Located at the Vinhomes Imperia Hai Phong urban area, the 45-storey complex is the highest of its kind in the northeast region. The five-star Vinpearl Hotel Imperia Hai Phong can provide 362 rooms while the Vincom Plaza comprises a shopping area with famous brands, CGV cinemas and a play zone covering 1,000sm.

www.cbrevietnam.com

CBRE Vietnam Real Estate Spotlight – W7 2019

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