CBRE Vietnam Real Estate Spotlight

Property developers disregard green space regulations, Hyatt to open dual-brand property in Vietnam come 2023, Experts warn of risks of condotel projects…

One New Launched:
- Mipec Rubik360 (Cau Giay District)
  - Total units: 976 units
  - Scale: 41,000 sqm
  - Unit size: 53.3 – 125.1 sm (2 – 4 bedrooms)
  - Price*: from VND40 million psm
Advertisement:
Sunshine Golden River (Tay Ho District)
- Total units: 217 units
- Scale: 9,004 sqm
- Unit size: 126 – 329 sqm (2 – 4 bedrooms)
- Price*: from VND55 million per sqm
Vinhomes West Point (Nam Tu Liem District)
Scale: 24,000 sqm land area
Unit size: 35.6 – 139.1 sqm (1 – 4 bedrooms)
Price*: from VND53 million per sqm
Total units: 1,099 units
Scale: 28,000 sqm land area
Unit size: 70 – 206 sqm (2 – 4 bedrooms)
Price*: from VND42 million per sqm
Hinode City (Hai Ba Trung District)

* Prices included VAT

No New Launch
Advertisement:
- Akari City (Binh Tan District)
  - Developer: Nam Long
  - Total units: 4,660 units
  - Scale: 8.5 ha land area
  - Unit size: 54 – 120 sm (2-3 BRs)
- Metro Star (District 9)
- Developer: CT Land
- Total units: 1,600 units
- Scale: 18,337.5 land area
- Unit size: 51 – 78 sm (2-3 BRs)

* 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, Tuoitre, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, VnExpress

FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Senior Director

T +84 286 284 7668

dung.duong@cbre.com

An Nguyen
Director

T +84 24 2220 0220

an.nguyen@cbre.com

Hyatt to open dual-brand property in Vietnam come 2023

TTG Asia

Hyatt Hotels Corporation will introduce its first dual-branded Hyatt Place and Hyatt House project in South-east Asia, with the 300-key Hyatt Place Saigon, District 7 and 250-key Hyatt House Saigon, District 7 slated to open in Ho Chi Minh City come 2023. The result of a management agreement between a Hyatt affiliate and Xuan Mai Sai Gon Construction Investment Joint Stock Company, the new hotels will form part of the Eco Green Saigon 13ha mixed-use project, which will also include residential units, office space, event space, and a primary school.

Experts warn of risks of condotel projects
The Saigon Times

Empire Group, the developer of Cocobay Danang condotel complex, has informed its 1,700 buyers that it would stop paying the 12% annuity beginning next year. When selling the project in 2016, it had promised to pay an annual sum equivalent to at least 12% of the cost of units over a period of eight years, reported the news website VnExpress. It was considered unusually high at the time. Buyers of condotel units are at stake since they have made their investment decisions based on what brokers have said and on their trust in project developers without obtaining sufficient information, experts told a real estate forum.

WeWork unveils its two upcoming locations in Ho Chi Minh City
VIR

WeWork – a platform that provides space, community, and services to help people make a life, not just a living – has announced its upcoming second and third locations in Ho Chi Minh City, at Sonatus, opening in November 2019 and Lim Tower 3, opening in February 2020.

US retailer Ace Hardware enters Vietnam
VnExpress

The 2,500-meter Ace Home Center, located in Saigon, will have 10,000 products in several categories including household, furniture, tools and outdoors. The company aims to be the largest hardware retail chain in Vietnam with 20-40 outlets within the next 10 years, a representative of the company said. The company enters Vietnam as rising urban incomes see increasing demand for furniture and household items, the representative added.

Roundabout near Ben Thanh Market to become public square
The Saigon Times

The former Quach Thi Trang Roundabout in front of the landmark Ben Thanh Market in downtown HCMC, coupled with Le Loi Boulevard and Nguyen Hue pedestrian street, will undergo renovation and become a public square, according to the municipal government office.

S.Korean investor to build US$900 million smart park in southern Vietnam

The Saigon Times

The government of Tien Giang Province in the Mekong Delta has given the go-ahead to a South Korean investor to develop a smart industrial park (IP) valued at some US$900 million.

Da Nang wants US$2 bln golf course, horse racing track

VnExpress

Da Nang City has proposed a golf course and a horse racing complex with a total investment almost US$2 billion, with construction to start this year. The golf and hospitality complex will be located 17 kilometers southwest of Da Nang International Airport and cost US$1.72 billion, the municipal People’s Committee has proposed to the city legislature. The complex, covering 497 hectares, would comprise a 36-hole golf course, a 2,000-room hotel and resort, an ecotourism park and other entertainment facilities. Construction is set to start this year and be completed by 2028.

Vietnam Jan-Nov FDI inflows rise 6.8% y/y to US$17.62 bln: govt
Tuoitre News

Vietnam received US$17.62 billion in foreign direct investment (FDI) in the first eleven months of this year, up 6.8% from a year earlier, the Ministry of Planning and Investment said on Monday. Of the pledges, 68% would be invested in manufacturing and processing, while 10.4% would go to real estate, the ministry said.

Property developers disregard green space regulations
Vietnamnet

Currently, there are less than 100 green buildings that meet with international standards across all of Vietnam, according statistics from Vietnam Green Building Council (VGBC). According to experts, the city should spend about VND100-200 billion (about US$4.3-8.6 million) each year to develop urban green spaces with a goal of at least 10-20 hectares of public parks.

Seven major infrastructure projects lag behind schedule
The Saigon Times

Seven major traffic infrastructure projects in the country have fallen behind schedule, including Ben Luc-Long Thanh and Trung Luong-My Thuan expressways, along with five urban railways, according to the Ministry of Transport.

www.cbrevietnam.com

CBRE Vietnam Real Estate Spotlight – W48 2019

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