CBRE Vietnam Real Estate Spotlight

First Made-in-Vietnam VinFast car off the production line, Officetels allowed to be converted into other purposes, Vincom Retail set to open 13 malls this year, …

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- Heaven Riverview (District 8)
  - Total units: 960 units
  - Scale: 16,939.8 sm land area
  - Unit size: 50.37 – 68.68 sm (1 – 2 bedrooms)
  - Price*: from VND 20-22 million psm
- 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

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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

First Made-in-Vietnam VinFast car off the production line
VIR

The first VinFast Lux SA2.0 has just rolled off the factory lines, marking the success of the "Made-in Vietnam" commercial automobile test production cycle.

The car is equipped with a DOHC 2.0L engine with a maximum of 228 horsepower, 350Nm torque, an 8-speed automatic gearbox, as well as numerous outstanding safety functions.

According to Le Thi Thu Thuy, vice chairwoman of Vingroup cum chairwoman of VinFast, the company confirmed that all segments of the manufacturing line are operational, ready for trial manufacturing before replication.

Real estate wants further foreign funds

VIR

		Listed real estate companies in Vietnam are actively seeking out foreign investment for their portfolios. According to a recent report released by Saigon Securities Inc. (SSI), listed real estate companies ended 2018 with rather stable development. Outstanding names include Vinhomes JSC, Nam Long, Khang Dien House Trading and Investment JSC, Dat Xanh Group, and Novaland. Driven by strong sales between 2015 and 2017, most commercial real estate developers enjoyed decent earnings growth last year upon delivery of their sold units.

Officetels allowed to be converted into other purposes

Bizhub

HCMC has allowed the conversion of officetel projects into other purposes, except for residential purposes, to meet the city’s urban development demand, more than a year since it halted licensing new officetel projects.

Halting the licensing of new officetel projects since April 2018 aimed to wait for the Government’s issuance of regulations on this new type of property.

The municipal authority said many projects could not be granted licences because they contained officetel apartments, which made these projects stagnate and affected the city’s development and urban management.

Vincom Retail set to open 13 malls this year

Bizhub

Vincom Retail Joint Stock has announced plans to open 13 new retail centres this year.

Speaking about the company’s strategy in 2019 at a seminar entitled “The Future of Viet Nam’s Retail Industry”, its deputy general director, Tran Thu Hien, said the 13 proposed malls would take Vincom’s total retail area to 1.6 million square metres at 79 retail centres in 42 provinces and cities.

They will include the centres at VinCity Ocean Park in and Vincity Sportia in Ha Noi.

The new malls would be developed under four Vincom Retail brands: Vincom Center, Vincom Mega Mall, Vincom Plaza, and Vincom+.

Railway corridor connecting Vietnam to Europe starts operation

Vietnamnet

The corridor would help reduce the time for goods delivery from Vietnam and ASEAN countries to Europe, and also a good alternative to maritime transport.

The Embassy of Kazakhstan in Vietnam, jointly with Kazakhstan’s Temir Zholy National Company (KTZ), have launched the first railway corridor along the Vietnam – China – Kazakhstan – Europe route, Kazakhstan’s Kazinform news agency reported, citing the press service of the Kazakh Ministry of Foreign Affairs.

The shipment of LG and Samsung goods by rail from Hanoi to Duisburg took 22 days, including two days from Vietnam to China. In the future, the total shipment time from Vietnam to Europe is planned to be cut to 19 days. According to Vietnam Railways, the transported volumes will significantly increase this year.

Reference exchange rate continues to rise

Vietnam+

The State Bank of Vietnam set the daily reference exchange rate on March 8 at 22,946 VND per USD, up 6 VND from the previous day (March 7).

With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,633 VND/USD and the floor rate 22,259 VND/USD. Meanwhile, the opening hour rates at commercial banks saw slight fluctuations.

During this week (March 4 to 8), the daily reference exchange rate followed a rising trend, gaining a total of 16 VND.

Vietnam ranks 4th in world in consumer confidence in Q4 2018

Vietnam+

Vietnam ranked fourth in the world in its Consumer Confidence Index (CCI) of 122 percentage points (pp) in the final quarter of last year, according to the Conference Board Global Consumer Confidence Survey conducted in collaboration with Nielsen, a global measurement company.

Globally and regionally, many countries experienced similar CCI downtrends due to uncertainties caused by rising costs and political challenges.

Within Southeast Asia, Malaysia had the highest CCI score loss in the fourth quarter, down 9 pp compared to the Q3, finishing the year with 118 points.

Inspections into condo buildings to be launched at end-March

Thesaigontimes

The Ministry of Construction will collaborate with the National Assembly Legislation Committee to launch inspections into the management and operation of apartment buildings in HCMC by end-March.

The inspection team will scrutinize operational condo buildings involved in disputes.

The team will review and clarify disputes related to parking lots, the calculation of apartment areas, apartment lease duration, maintenance fees, fire fighting and prevention measures, the organization of conventions in apartment buildings and procedures for granting certificates of land use rights.

Social housing loan interest rate maintains at 5 percent

SGGPnews

Preferential loan interest rate remains unchanged at 5 percent for purchase, hire or lease purchase of social housing projects in 2019 as per Vietnamese Prime Minister’s decision 225/QD-TTg, which took effect from the beginning of this year.

HCMC seeks state funds for metro

Vietnam+

Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has asked the Prime Minister for permission to borrow 2.15 trillion (92.9 million USD) from the central government to pay contractors who are building Metro Line No 1.

The Metro Line 1 extends from Ben Thanh Market in district 1 to Suoi Tien Tourist Park in district 9.

The payment will help the project run in line with the plan, and it would help to avoid complaints and lawsuits about debts, Phong wrote in his letter.

www.cbrevietnam.com

CBRE Vietnam Real Estate Spotlight – W10 2019

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