CBRE Vietnam Real Estate Spotlight

Foreign arrivals in Vietnam plunge in Feb, Aeon mulls US$2 billion business expansion in Vietnam, Construction Ministry approves tiny apartments…

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- Le Grand Jardin – Long Bien District
  - Total units: 1,120 units
  - Scale: 5,800 sqm
  - Unit size: 49.87 – 105.09 sqm (2 – 3 bedrooms)
  - Price*: from VND28 million psm
- Grandeur Palace Giang Vo – Ba Dinh District
  - Total units: 72
  - Scale: 9,024.8 sqm
  - Unit size: 77.6 – 153.8 sqm (2 – 3 bedrooms)
  - Price*: from VND80 million psm
- Mipec Rubik360 (Cau Giay District)
  - Total units: 976 units
  - Scale: 41,000 sqm
  - Unit size: 53.3 – 125.1 sqm (2 – 4 bedrooms)
  - Price*: from VND38 million psm

* Prices included VAT

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- Mozac Thao Dien (District 2)
  - Developer: Oxley MK Holdings Vietnam
  - Total units: 270 units
  - Scale: 2,800 sqm land area
  - Unit size: 43 – 154 sqm (1 – 4 bedrooms & penthouse)
- Spirit of Saigon
  - Developer: Bitexco
  - Total units: 350 units
  - Scale: 8,600 sqm land are
  - Unit size: 90 – 275 sqm

* 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

Samsung erects $220 mln R&D center in Vietnam

VnExpress

Samsung Electronics on Monday begun construction on a $220 million research and development center in Hanoi, the first of its kind outside South Korea. The 16-story building, located in a complex covering 1.1 hectares in Tay Ho District, will host all research and development activities. Its R&D staff of 2,220 will increase to 3,000 when the building is completed in 2022, the company stated. The facility will focus on developing Samsung products and research into artificial intelligence and 5G.

Court highlights Empire Group and Cocobay Danang for investigation
VIR

Danang People's Court has forwarded the emergency letters of complaint and denunciations of Thanh Do Investment Development and Construction JSC (Empire Group) and its Cocobay Danang project to the investigation agency of Danang Public Security Department. Accordingly, 450 condotel owners at the Cocobay Danang project had sent letters, alleging cheating on the part of the developer related to the sales of real estate, as well as violations of the laws on real estate and taxes by Empire Group.

Companies face closure amid Chinese raw material shortage
VnExpress

Textile, footwear and electronics producers in Vietnam are running low on feedstock and might have to suspend production if the Covid-19 epidemic continues. Many companies only have enough to maintain production until March, Truong Thanh Hoai, head of the Ministry of Industry and Trade’s Industry Agency, said at a meeting held on Wednesday to discuss how to help affected industries. China, the country hardest hit by the epidemic, is the largest source of intermediate goods for Vietnam's industries besides being a leading consumer of their products

Central Group takes control of Vietnamese electronics retailer

VnExpress

Thailand's Central Group has taken full control of electronics retailer Nguyen Kim through its latest indirect acquisition of a 41.5 percent stake. The largest retailer of Thailand acquired the stake through an indirect subsidiary. The acquisition was revealed when Central Retail Corp. (CRC), a subsidiary of the Central Group, completed an IPO on the Stock Exchange of Thailand (SET) on February 20.

HCMC tourism authorities propose tax cuts to ease coronavirus pain
VnExpress

The Ho Chi Minh City Tourism Department wants a 50 percent cut in taxes for tourism-related businesses to mitigate losses caused by the coronavirus epidemic. It said the city People’s Committee should cut income tax and value-added tax for restaurants, hotels and transport and tourism companies and delay their collection to the third or fourth quarter of this year. Land fees should also be cut by half for two years on hotels and convention centers, it said.

Construction Ministry approves tiny apartments
TheSaigonTimes

The Ministry of Construction has issued a new circular allowing developers to build commercial apartments measuring 25 square meters each, with effect from July 1. Experts have long argued that tiny apartment units will give rise to ghettos in major cities. According to the circular, commercial apartments should not be smaller than 25 square meters each and the number of apartments smaller than 45 square meters each must not exceed a quarter of the total number of apartments at any project, the local media reported.

Aeon mulls US$2 billion business expansion in Vietnam

TheSaigonTimes

Japanese retail giant Aeon is set to have 25 shopping malls across Vietnam by 2025, with a total investment worth US$2 billion, said Aeon Vietnam general director Iwamura Yasutsugu. Also, Aeon will increase Vietnam’s export turnover to US$1 billion by 2025, from this year’s target of US$500 million, since the country boasts many products suitable to making the goal achievable, he added.

Foreign arrivals in Vietnam plunge in Feb

TheSaigonTimes

More than 1.2 million international tourists visited Vietnam last month, tumbling 37.7% over January and 21.8% against the same month last year, according to the General Statistics Office. Among Vietnam’s major source markets, China reported the sharpest decline of 62.4%. In addition, the number of U.S. visitors plunged 24.4%; Australians, 19.1%; Singaporeans, 18.9%; and Canadians, 16.4%.

www.cbrevietnam.com

CBRE Vietnam Real Estate Spotlight – W8 2020

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