Monthly Real Estate News | August 2016 by Vietnam Realty

Col l i e r sI nt e r na t i ona lVi e t na m

Mont hl yRe a lEs t a t eNe ws|Augus t201 6

Mont hl yUpda t e dRe a lEs t a t eNe ws

Co l l i e r sI nt e r na t i o na l ’ sr e a le s t a t ehi g hl i g hti st hemo nt hl yne ws whi c ha g g r e g a t e sa l lp r o mi ne ntne wsi namo nt ho nt heRe s i de nc e , Se r v i c e dAp a r t me nt , Oﬃc e , Re t a i l a ndI ndus t r yr e a l e s t a t ema r k e t .

Daily Real Estate News Highlights Vietnam - 01 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Apartments for rent: so much challenges Bat Dong San

Currently, indeed, there are two main obstacles to develop apartments for rent. Firstly the payback period for this segment required a longer duration, which means the investors also need a stronger capital investment, than apartments for sale. Secondly the cost of the rent also should be put into consideration, since the Vietnamese citizens usually own a thought of staying in a cheap accommodation and saving to buy a house/apartment later rather than staying in a rental luxury apartment. Companies under Ministry of Construction get warning

Apartments for rent: so much challenges

Bat Dong San

Viwaseen, HUD, SongHong Corp, COMA,.. were shot a warning from Ministry of Construction about their slack result in business, financial problem and over debt. On the whole, according to the report from a conference in Hanoi on July 21 to launch tasks for the remaining months of this year, the business results of companies under Ministry of Construction Viet Hung Urban Area - A HUD project were achieved 47% of the plan year on year. VNREA: secondaries investors’ deals increase three times Bat Dong San

According to Vietnam National Real Estate Association (VNREA), in the first half of 2016, on the one hand the number of successful transactions witnesses a slight drop, on the other hand the figure of secondaries investors’ deals is upward. The latter party increases three times as much as compared with the same period last year, accounting for 15% of the market. Ministry of Construction raises alert for commercial house bubble Bat Dong San

Outstanding credit of real estate sector in the whole banking system makes up only 8%, however, there is a considerable gap in allocation of funds among each property segment, especially the commercial house. According to statistics of HCMC Real Estate Association (HoREA), currently the market has seen a fierce competition in mid-end and high-end pattern, meanwhile the low-end segment is badly in need of supply. Industry Ministry may propose ending Hau Giang pulp paper project Vietnam Net

The Ministry of Industry and Trade (MoIT) is considering proposing the government cease the development of a pulp paper plant in the Mekong Delta’s Hau Giang province. The reason behind this action is that since 2014, there was delay in renewing the environmental impact assessment despite regulations clearly stating that investors must submit one every two years.

For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 02 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Japan’s Mitsubishi jointly invests in $1.9 billion real estate project in Vietnam Vietnam Investment Review

Japanese conglomerate Mitsubishi Corporation is the latest foreign investor to develop residential housing in Vietnam. According to a press release posted on the company’s website, Mitsubishi is going to work with Vietnamese partner Bitexco Group of Companies (BITEXCO) to develop part of BITEXCO’s The Manor Central Park, a mixed-use development project. Hanoi: 26/300 projects are mortgaged

The Manor Central Park

Bat Dong San

Ministry of Natural Resources & Environment in Hanoi had unveiled 26 developments among 300 ones that are mortgaged, while in HCMC the figure is 77/600. In fact, there are 90% of total companies in need of bank loan, thereupon the both ratio as mentioned previously are assumed to be unusual and unreliable. Extension of $1.3 billion loan package: double interest rate?

Real Estate Projects

Bat Dong San

In the first of July, the low-interest home loan package worth VND30 trillion ($1.3 billion) was officially extended till the end of 2016 instead of midyear. However, the delay in enacting new legislation led to the change in interest rate: in place of previous 5%/year, since 1st June the borrowers may have to pay the interest rate according to commercial rate by bank until official document released by government. A low transparency scores for Vietnam real estate market VnExpress

According to survey data, the Global Real Estate Transparency Index (GRETI) of Vietnam is 3.69, ranking 68th among 109 nations. This is considered as a low transparency scores for a 20-year-old property market like Vietnam, of which the property valuation is failing to correctly reflect the true value of real assets. Investors of projects in mortgaged properties list speak up Bat Dong San

The revealing list hits the public hard as lots of clients have contacted preconised investors for more details. Indeed, there are many reasons behind the decision to mortgage, among them, mortgage for banking guarantee to undertake transactions for an unfinished property, which was compulsory under the current regulation, is a substantial factor in some cases. “Publishing the list is necessary, but the information should be classified by feature to ensure the fame of investors” - Chairman Of the Board of Gia Hoa Co., Ltd said. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 03 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vietnam’s hotel transactions among top in Asia-Pacific Thanhnien News

Vietnam came as the fourth top market in Asia Pacific in terms of hotel investment volumes in the first half of 2016, with more activities expected during the rest of year. Total transactions in the region climbed 13.2 percent to $3.8 billion from a year ago, including more than half, or $2.1 billion, from Japan market, which is expected to continue to dominate investment volume for the remainder of the year. Vietnam aims to require business executives to declare assets

Hotel Transactions

Vietnam Net

Under the draft law, people, who hold the post of chair and member of management board, CEO and director, head of supervisory committee and chief accountant, at public companies, credit institutions and investment funds have the obligations of declaring their assets and incomes. The drafted regulation has worried businessmen since their incomes must be Vietnam aims to require business made public to be supervised by shareholders already, and so why their executives to declare assets assets also need to be controlled. Wyndham Legend Halong – the newest international 5 star hotel Vietnam Investment Review

An interview between development’s General Manager and Timeout had exposed some interesting information about the site. In fact, Wyndham Legend Halong is Kosmopolitan’s flagship hotel in Vietnam and the company plans to develop more here. Discussions are ongoing with developers in locations like Hanoi, Nha Trang, Phu Quoc island and Ho Chi Minh City. Muong Thanh group opens first five-star hotel abroad Vietnam Net

Muong Thanh Group on July 29 inaugurated the five-star Muong Thanh Luxury Vientiane Hotel in Laos’s capital of Vientiane, which is its first hotel abroad, marking a new progress in the firm’s ambition to become the largest hotel chain developer in Indochina. “The project is a clear evidence of the special friendship between the two countries” - Politburo member and Governor of Vientiane capital said. Fusion Suites Saigon opens in HCM City Bizhub

Fusion Suites Saigon, the latest addition to the Fusion brand of Serenity Holding, opened in HCM City yesterday. Following the Fusion’s signature wellness philosophy, this is the first hotel in the city to include a daily spa treatment in the room rate. The hotel has three kinds of rooms, including suite, corner suite and family suite, with a total of 71 rooms.

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 04 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vingroup to increase its charter capital to $1b Vietnam Net

Vingroup (VIC) asked its shareholders for the issuance of about 484.5 million additional shares to increase the charter capital from the capital surplus. Accordingly, Vingroup will issue shares to existing shareholders at the rate of 1,000: 225 (each existing shareholder who owns 1,000 shares will receive an additional 225 shares). The additional shares, worth more than VND4.8 trillion (US$215 million), are planned to be issued in the 4th quarter of 2016. Real estate, healthcare lead in Vietnam’s business boom

Vinhomes Metropolis in Lieu Giai Street

Vietnam Net

More than 80,800 enterprises entered into or returned to Vietnam’s business scene in the first seven months, with the sectors of real estate and healthcare seeing the most impressive increases in new companies. Particularly, the number of new companies in real estate rose 108.7%, followed by the health sector with 80.2%, education and training 42.2%. Gamuda Land Vietnam closely follows progress target at The TWO Residence

Business boom

Vietnam Investment Review

Located at the heart of The Best Residential Development in Hanoi, the TWO Residence is the perfect choice for families looking for high-end apartments with integrated amenities at affordable price. It is designed to capitalise on lighting and ventilation. In addition, residents of The TWO Residence enjoy a wide range of internal facilities, including shopping centre, three parking podiums, a landscape garden with children’s fun pool and playground and a sky garden. Foreign investors’ growing appetite in realty ventures Vietnam Investment Review

Vietnam has signed a string of free trade agreements (FTAs) late last year which cast both direct and indirect impacts on the property sector mergers and acquisitions (M&A) market. Foreign investors are paying attention to the Vietnamese market on account of high economic growth and stable political situation. Besides, capable foreign investors who bought projects at good prices in the past when the property market was down are now focusing on developing these projects. Tycoons pour money into real estate gamble Bat Dong San

Nguyen Duc Thuy, the tycoon of ThaiGroup, has injected huge sums of money into the ‘golden land plots’ in Hanoi and high-end resort projects on Phu Quoc Island after he bought Kim Lien Hotel in Hanoi. The HCMC Infrastructure Investment JSC (CII) has set up a subsidiary specializing in making investment in real estate with the chartered capital of VND1 trillion. Duc Long Gia Lai, which invests in agriculture, energy and electronics manufacturing, has kicked off three real estate projects with total investment capital of VND4 trillion. Le Phuoc Vu from Hoa Sen Group, a steel manufacturer, has also started the construction of a 4-star hotel in Yen Bai City capitalized at VND1.2 trillion. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 05 August 2016 Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Thailand Amata Corporation invests USD800mln in Vietnam Bat Dong San

The Thailand Amata Corporation’s subsidiary, Amata VN Pcl is about to invest the 2nd project named Amata City Long Thanh which lasts 3 years starting in 2016. According to estimation, the capital investment will makes up USD800mln as the total constructing area accounts at 1300 hectares, in which industrial zone makes up 40% and commercial apartments the rest. Launching the Vietcomreal Real Estate Exchange Centre

Amata City Long Thanh

Cafeland

Located on 68 Nguyen Hue, Dist.1, HCMC, the Vietcomreal Real Estate Exchange Centre is the main distributor of remarkable developments such as Riva Park and Viva Riverside. Lots of special promotions are offered during the first week of opening, i.e discount of 3% VAT, free 5-year management fee, VND30mln supermarket vouchers. Vingroup claims its profit at VND3000Bln

Launching the Vietcomreal RE Exchange Centre

Bat Dong San

The properties transfers occupied the most substantial proportion of the 2nd quarter’s revenue structure. In the first half of 2016, Vingroup’s profit after tax reached about VND2.926Bln, four times as much as compared with the same period last year. Foreigners have accelerated buy houses in Vietnam Bat Dong San

Most foreigners and overseas Vietnamese are interested in high-end projects, well-qualified life with many utility services. According to the authorities, the number of oversea national currency exchange invested in the property market accounts for 21.6%, up 0.8% over the same period. At this rate, the real estate market has attracted about $ 1bn. Saigon Centre mall brings out the big guns Vietnam Investment Review

On August 1, Keppel Land Limited opened its retail mall in Saigon Centre in Ho Chi Minh City, anchored by the country’s first Takashimaya department store. “Today marks an important milestone, as we open our retail mall in Saigon Centre, which has become a landmark of Ho Chi Minh City’s central business district,” Keppel Land’s CEO Ang Wee Gee said.

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 08 July 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Foreigners are not guaranteed in the property sector Vietnam Investment Review

Vietnam’s real estate market has seen scores of cross-border marriages over the past years, but not all of them saw a happy ending due to the parties’ disagreements. The main cause of this outcome is the delay for many years in constructing the developments that wither foreign investors’ patience and belief. HCM City attracts US investment

Foreign Investors

Vietnam News

HCM City hopes to attract investment from the US after a delegation led by a deputy chairman of its People’s Committee visited that country and promised plenty of incentives, e.g. a 10-year-long tax and land offers to American investors. So far, the promising names investing in HCMC are Texas Instrument Company, Allied Telesis and Quantus Corporation. New milestones in Vietnamese foreign hotel investments

US’ investment in HCMC

Vietnam Net

Two of Vietnam’s richest groups have made significant progress in their ambition to become Vietnam’s largest hotel chain developers abroad. This July had witnessed 2 opening celebrations: the 5-star Melia Yagon Hotel of Hoang Anh Gia Lai Co (HAG), part of its HAGL Myanmar Centre project in Yangon City and the 5-star Muong Thanh Luxury Vientiane Hotel in the capital of Laos, Vientiane. D’. Le Roi Soleil luxury condos on special offer Vietnam Investment Review

On July 30. Tan Hoang Minh Group launched the sales of tower B of D’. Le Roi Soleil-Quang An, with more than 200 condos with a view of the Red River. Any buyer from 30 Jul to 30 Aug may qualify for a zero-interest loan from SHB for up to 65% of the price of their condo, lasting until handover. Customers only have to pay 15% of the condo’s price when they sign the contract, another 15% when the project is finished in the first quarter of 2017, and 5% when they receive the house. Phu My Hung sold out 99 per cent of Riverpark Premier within 2 hours Stockbiz

More than 500 customers attended Riverpark Premier’s first phase launch event on on Sunday. Accordingly, within 2 hours, 99% of 161 apartments in blocks A and B were sold, and 25% of them were purchased by foreigners. The next and final launch event for the most beautiful block (block C) would be on September 10.

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 09 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Agreement signed for $6b Saigon Peninsula Project Bizhub

Van Thinh Phat Group Corporation, one of the leading real estate and hospitality companies in Viet Nam, signed an agreement with two giant Malaysian companies to develop a US$6 billion ecological urban system called Saigon Peninsula Project in HCMC’s District 7. Saigon Peninsula will feature a multifunctional park, an international cruise terminal port, office towers, resort villas, apartment blocks, a hotel, etc. Is Spanish tycoon PSH about to fire the first shot in Vietnam?

Saigon Peninsula Project

Bat Dong San

People’s Committee of Thua Thien Hue Province had told the media about recent interest of Spanish company PSH in investing projects along the seashore of the Province. Accordingly, the developments are supposed to include the chain of resorts combining entertainment Chan May - Lang Co area area. Ho Chi Minh City’s private businesses to receive $100-million boost VnExpress

The city’s government has decided to allocate 70 percent of a VND3 trillion ($134 million) fund set up to boost the private sector to help companies switch to high-tech equipment and apply new technologies. The annual target is to get 30-35 percent of local businesses using innovative solutions. 38 Ha Noi buildings lack fire safety standards Vietnam Investment Review

A majority of these buildings is located in Hoàng Mai and Ha Đong districts, which have 9 and 14 buildings, respectively, lacking fire safety measures. Many investors and management units were found not following government regulations on fire prevention and control. The concerned agencies will continue to carry out inspections and strictly deal with violations in high-rise buildings. At the same time, agencies will instruct the building management units to remove existing shortcomings to ensure the safety of local residents. Binh Duong ideal for Korea Vietnam News

The southern province of Binh Duong remains a popular destination with South Korean investors who are promising to invest more money in the near future as most of their investment went into supporting industries. The investments include $30 million in Lumens Vina, $14.1 million in Kolon, $12 million in SGX Company Ltd and $10 million in Sung Min Vina Company Ltd. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 10 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Hanoi: 133 tax debt companies Bat Dong San

Hanoi General Department of Taxation just reveals the list of 133 organisations owing tax debt, reaching a total of VND147.257mln. In a little more details, there are 121 enterprises in arrears with government’s tax of VND111.271mil and 12 enterprises in arrears with the land rental cost of VND35.986mil. 50% of HCMC aging apartments to be broken down by 2020

133 tax debt companies

Bat Dong San

This is the statement of Vice Chairman of the People’s Committee in the meeting on 5 August. To be more precise, the authority will be decentralised to particular districts to choose proper investors actively. To keep pace with the scheme, Department of Construction supposes to complete all apartments’ inspection by the end of this year. Mortgaged projects safe for buyers: experts

Aging apartments of HCMC

Vietnam Investment Review

Taking out mortgages for property projects is a normal practice among developers, and laws would protect the interests of buyers who have bought mortgaged property products, according to experts. In fact, apartment buyers of some mortgaged projects had received ownership of real estate certificates. In addition, investors of those projects had implemented all their rights and obligations in lending capital and selling property products, deputy director of Ha Noi Resources and Environment said. SBV urges banks to use housing stimulus Vietnam News

The State Bank of Viet Nam (SBV)’s Governor Le Minh Hung has asked commercial banks to issue instructions for lending to social housing early to speed up disbursement of the housing stimulus package. Two months have been passed since the promulgation of the Prime Minister’s decision but the door to preferential loans remained closed to home buyers due to difficulties in allocating State funding for the programme. Will Apple invest in Da Nang? Bat Dong San

Apple – the big boss in technology industry – has shown an interest in operating a Data Centre in Da Nang’s Information Technology Zone/High-tech Zone. Likewise, another investor that should be mentioned is Sembcorp – a Singapore tycoon – with the investment of USD8Bln as the first stage its development is supposed to start in quarter 1 of 2017. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 11 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Circular issued to stipulate number of apartments owned by foreigners Vietnam Investment Review

Accordingly, the proportion of apartments owned by foreign organizations and individuals to the total number of apartments in all apartment buildings for sale or lease-purchase in a ward must not exceed 30%. As for individual houses for sale or lease-purchase Apartments owned by foreignunder commercial housing projects, the total foreign ownership must ers not exceed 10%. The list of companies violating land law to be unveiled? Cafeland

Since 2015, General Department of Land Administration (GDLA) received reports from only 30 provinces about land violations as none of the cases’ punishment had been recorded. In regard to this action, GDLA has raised voice at relevant departments to unveil the list of companies violating land law in order to increase the The list of companies violating transparency in real estate market as well as to protect the rights land law to be unveiled of buyers. Investors are active to announce mortgaged projects Bat Dong San

After the consequences of disclosing list of 77 mortgaged projects in HCMC, some investors have made up their mind and decide to actively make mortgaged projects public in order to eliminate the misunderstanding conflicts with the buyers. According to a real estate expert, incomplete and unfull info is not enough. In addition, hidden companies also need to be punished and warned openly to push the transparency process in the market. Thua Thien Hue receives $332m of investment Vietnam News

Central Thua Thien Hue Province yesterday granted 16 investment certificates with total investment of nearly VNĐ7.5 trillion (US$332 million) and signed six co-operation agreements with partners. The moves come after conference to promote investment in the province held yesterday, with Deputy Prime Minister and more than 500 representatives from international and domestic businesses attending. Ha Nam gets $760m investment at conference Vietnam News

Ten enterprises have received approval from and have signed co-operation agreements with the northern Ha Nam Province’s People’s Committee to invest VNĐ17 trillion (US$758.9 million) there. The province also signed a socio-economic development co-operation agreement for the 2016-2020 period with the Bank for Investment and Development of Vietnam (BIDV). For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 12 August 2016 Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Another VND215Bln Vingroup commercial center in Hue Cafeland

Beside Vincom Hung Vuong and 5 stars hotel Vinpearl, Vingroup is about to invest one more shopping centre named Vincom Huong Tra in Hue. The development comprises of 3.000m2 land area, 12.000m2 floor area, 5.500m2 parking lot and 4.000m2 green area. Construction in the first phase will be implemented from Aug 2016 to June 2017. Toshin Development Co., Ltd is proposed to be investor of Ben Thanh’s underground complex

Vincom Huong Tra in Hue

Cafeland

People’s Committee of HCMC has recommended Toshin Development Co. to Prime Minister to be investor of Ben Thanh’s underground shopping mall project. To be more precise, the development’s capital of VND8.392bln is shared 60% by People’s Committee of HCMC and 40% by investor and the expected starting date of construction is in the end of 2019. Vinh Hoi Apartment is approved

Ben Thanh’s underground complex

Bat Dong San

The project with total land area of 2.993,5 m2 finally gets the approval from People’s Committee of HCMC. Accordingly, The District 4 Public Service Company is assigned to be the investor of development which consists of 171 units in 15 floors and accommodates a maximum of 750 people. VN real estate lures Singaporean investment Vietnam Net

Singaporean real estate investors are operating successfully in Vietnam. Typically, seven Vietnam-Singapore Industrial Parks (VSIPs) have drawn more than US$8 billion investment capital and generated more than 155,000 jobs, said Leow Siu Lin, Singapore Consul-General in Ho Chi Minh City. Keppel Land, Mapletree, Sembcorp, and CapitaLand are famous investors that have been operating successfully in Vietnam. Vietnam SOEs yet to publicize financial information as required Tuoitre News

Multiple Vietnamese state-owned enterprises (SOEs) are withholding information required by state law to be publicly disclosed, symptomatic of the lack of transparency in the country’s public sector. The solution, according to Dr. Dinh - chairman of the Scientific Council at the Center of Socio-Economic Studies, is increased the equitization and privatization of SOEs, which will pressure them to change as their activities become more closely monitored by shareholders. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 15 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vietnam among five promising markets for Poland Vietnam Net

“This places Vietnam at the center of a long-term Polish effort to deepen the bilateral trade relationship in the near future,” - Economic Counsellor and Head of Commercial & Development Cooperation at the Embassy of Poland in Hanoi said. Indeed, in the first half of 2016 Vietnam became Poland’s No. 1 trade partner in ASEAN and seventh among non-European countries. “Golden land” plots in HCMC fall into foreigners’ hands

Vietnam among five promising markets for Poland

Vietnam Net

The HCMC authorities’ plan to put 23 land plots in advantageous positions, called ‘golden land plots’, into auction this year. Only a few Vietnamese enterprises are financially capable of buying the land. Accordingly, Diamond Plaza, Kumho Asiana Plaza Saigon, AB Tower, Centre Point, Deutsch House - the most famous buildings in HCMC - are all in care of foreign investors now. Hai Phong – Do Son and a VND8000Bln resort development

“Golden land” plots

Cafef

International tourist resort named Doi Rong with total land area of 480,1975ha is a complex of convention center, resort residences, 5 stars hotel and amusement park. The total capital investment of project makes up over VND8.193Bln with the construction divided into 2 phrase: the first one lasts 20 years from 2015 to 2026, focusing on infrastructure while the second one eyes on building and architectures, starting from 2018 to 2033. Power sector asked to help reduce housing costs Vietnam Investment Review

The HCM City Real Estate Association yesterday asked the local Electricity of Viet Nam (EVN HCMC) branch to pay for building the electricity grid for projects being incurred by developers. “After the meeting with EVN HCMC today, the association will send a document to the municipal People’s Committee and the Ministry of Industry and Trade, asking the electricity authorities to issue a payment mechanism applied for housing projects of which price is below VND22 million ($982) per sq.m,” Chairman of the Association said. Millennium: location is competitive advantage Bat Dong San

Allocated on Nguyen Huu Hao street, the middle area between Calmette and Ong Lanh Bridge, it only takes 2-5minutes for Millennium residences to move to Dist.1 and 7-10 minutes to Dist.5, Dist.7. The development consists of 2 towers with 34 floors and 3 basements, including 650 units, of which 195 units had been sold at the launch date. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 16 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

An architectural design contest to be held by Hoa Sen Bizhub

Property will become the key business of Hoa Sen Group (HSG) in the next five years, the company’s chairman, Le Phuoc Vu, has revealed. At a meeting in HCM City on August 10 to announce an architectural design contest to be held by his company, he said the An architectural design contest steel giant would start to invest in real estate from this year. to be held by Hoa Sen Work begins on Dung Quat project Vietnam News

Construction kicked off on the Dung Quat Industrial Town project in the central province of Quang Ngai last week. The project, spanning 1,303ha in Binh Son District, will be divided into two phases. The first one will focus on building the infrastructure for the industrial park, across 319ha and is expected to be completed in 2019. Little impact from Brexit on Vietnam’s property market

Work begins on Dung Quat project

Vietnam Net

New and additional FDI into real estate this year had reached $956.8 million by July 20, or 7.3 per cent of the total, according to the latest report from the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment. Vietnam’s residential market during June saw no significant volatility or lack of new supply, according to a report from the Vietnam National Real Estate Association (VNREA) released in July. As the UK and the EU remain mired in uncertainty following Brexit, potential real estate investors in Asia-Pacific are beginning to explore opportunities presented by currency arbitrage and further monetary easing from central banks $4 billion project in Thu Thiem new urban area may face rejection Vietnam Net

The Thu Thiem Urban Area Management Board recently sent a document to the People’s Committee on the Thu Thiem program, repeating its view that it won’t accept investment projects which require an adjustment of the initial development plan. According to the management board, the detailed design of the project submitted by the investors show that only the 70-storey building has a financial service function, which fits the design, while other items have functions different from the original plan. Flora Fuji – VND1Bln dream apartment Bat Dong San

Flora Fuji is developed by Nam Long and 2 Japanese tycoons Hankyu Realty and Nishi Nippon Railroad as a combination of 3 G criteria: Getable, Green and Greater. Each apartment has the total area of 54 – 67 m2 accompanying with modern video phone security system and amazing green area. This definitely is a dream house for those who are looking for about VND1Bln accommodation. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 17 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Ha Noi targets Red River growth Vietnam Investment Review

The Ha Noi municipal People’s Committee has announced a detailed master plan for the Nhat Tan -Noi Bai route. The plan aims to effectively use the land along both sides of the route to create a modern urban area associated with finance, culture and trade, further developing Ha Noi and the greater Red River region. It is Ha Noi targets Red River growth expected to be completed by 2025. Property inventory sees sluggish fall Vietnam Breaking News

Real estate inventory continues to fall but the pace is slowing down, mostly in suburban projects with poor infrastructure facilities. The property market has seen a stable growth in the first half this year, in various sections from low-price to high-end and tourism resorts. A slight increase in price and demand has been seen in medium-sized apartments in favourably located projects with well developed infrastructure facilities. Foreign landmarks rise in second city

Property inventory sees sluggish fall

Talk Vietnam

Foreign developers have been developing many landmark real estate projects across Ho Chi Minh City during the first half of the year. New investment projects can also be seen coming from long time foreign investors in Vietnam, such as Temasek Holdings, Sembcorp Development Ltd, CapitaLand, Keppel Land, and Mapletree Investments. Property developer drives Quang Ninh realty market forward Bizhub

Settling on Quang Ninh for the bulk of its investment, rather than the more popular cities of Ha Noi and HCM, BIM Group’s projects have contributed to changing the face of the northern province’s property market. BIM Group said Quang Ninh was an attractive land for investment, given the province’s developed infrastructure and abundant tourism potential. This is the hottest area in Saigon market in late year 2016 Bat Dong San

In Q2-2016, the real estate market in Tan Phu District witnesses a boom with the emergence of many projects developed by property giants. Vast land fund, reasonable housing prices, hot market, as well as significant improvements in term of traffic infrastructure, are the main reasons that ignite the property fever. Dozens of projects launched for sale in recent time include: Valeo Dam Sen, Trung Dong Plaza, Au Co Tower. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 18 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

The imbalance between supply and demand in real estate Viet Bao

Real Estate market has had positive movements and stable developments from 2015 until now as the number of transactions has steadily increased since the beginning of the year. However the shortage of apartments in mid-end and affordable section might lead to the imbalance in the property market. In more detail, currently the The imbalance between supply and demand in real estate development of social houses still meet lots of obstacles as well as the leasing apartments still are badly in need. Vingroup develops commercial complex in Ha Giang Viet Bao

The real estate conglomerate Vingroup plans to build a trade complex in Ha Giang city. The complex will include a five-storey trade centre, a Vinmart supermarket, a Vinpro electronics store, an amusement zone, and commercial buildings, when it is put into use in late 2017. Procedural rigmarole suffocates the investors

Commercial complex in Ha Giang

Viet Bao

Together with the interest rate, the expense of administrative procedures is one of the substantial factors that discouraged property investors from developing projects. To protect their profit, the developer might cut down the raw materials’ costs which lead to the low construction’s quality eventually. Related Regions have permission to re-build aging apartments Viet Bao

According to HCMC Government Construction Department’s Report, there are 474 old residential buildings, including 50.000 units being built before 1975 that most of them are severely degraded. People’s Committee in each district will consider and prepare appropriate compensation, resettlement, relocation and coercive demolition plan. Overseas remittances hit $2.5 bln in HCMC Talk Vietnam

From 2011 to 2015, money transferred from overseas Vietnamese to Ho Chi Minh City rose on average by 10 to 12 percent per year. Having already shown stronger signs of economic recovery than most of the country, the southern hub is expected to receive $5.7 billion in overseas remittances this year, climbing 5.6 percent compared to 2015.

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 19 August 2016 Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Berjaya’s $3.5 billion project faces possible revocation Vietnam Net

Berjaya has a series of real estate projects that came along slowly after receiving their investment certificates. Besides VUIT, there is Vietnam Financial Centre, also in HCMC. In 2013, the authorities of the southern province of Dong Nai revoked Berjaya’s investment certificate for the Nhon Trach New City Centre project because of its fail to start implementation. Vietnam to be US firms’ target market in 2017: Amcham survey

Berjaya’s $3.5 billion project

Vietnam Net

Involved enterprises said Vietnam has an availability of low cost labour, a stable political and legal system, and the country can ensure issues related to personnel security. Almost all managers reckoned that the business climate in Vietnam has been remarkably improved; however Vietnam also needs to make greater effort to combat corruption in the time ahead. EU supports HCM City to become Southeast Asian centre

Vietnam to be US firms’ target market in 2017

Vietnam Net

EuroCham is accelerating the signing of the free trade agreement between Vietnam and the EU is sparing no effort to support the development of the city, Chairman of EuroCham Michael Behrens said. EuroCham delegates showed interest in various fields such as administrative reform, green energy development, trade promotion, transport infrastructure construction, environmental protection, human resources enhancement, and smart city building. Controversial Hong Kong resort relocated Vietnam News

World Shine-Hue International Resort, which was delayed in construction due to protests from residents, will be relocated to a new site and renamed Minh Vien-Lang Co. International Resort project. The 100-hectare Minh Vien-Lang Co project will have a new design, with a total investment capital of $350 million. The 100-hectare Minh Vien-Lang Co project will have a new design, with a total investment capital of $350 million. New rule requires savings accounts for budget-home loans Stockbiz

The Vietnam Bank for Social Policies (VSPB) has instituted a controversial rule requiring those taking out low-interest loans to buy budget housing to maintain savings accounts with a tenor of at least one year at the bank. Borrowers will have to place monthly deposits equaling to their monthly loan repayment over a minimum period of 12 months, if they want to be eligible for social housing loans. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 22 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Regent teams up with BIM Group for first project in Vietnam Vietnam Investment Review

Taiwan-based international luxury hotel operator Regent is going to take the first step in Vietnam with the Phu Quoc Marina project developed by BIM Group which includes hotels, a resort, shop houses, beachfront villas, condotels, and beachfront apartments. Is Vietnam’s retail market no longer attractive?

Phu Quoc Marina project

Vietnam Net

The departure of the former owners of Big C and Metro Cash & Carry supermarkets is expected to intensify competition in the retail field. According to EIU, the Vietnamese retail market in 2016 is expected to be valued at $97 billion and the figure may reach $122 billion by 2018. The figures show that the Vietnamese retail market is by far smaller than Thailand’s, but the growth rate is much higher. Time to inject money into real estate

Vietnam’s retail market

Vietnam Net

The total real estate volume of shares traded in the last month reached 1.1 billion, which was 30-60 percent higher than shares of enterprises in other business fields, according to a report released at a workshop recently. The real estate shares’ attractiveness is attributed to the prosperity of real estate firms which has returned, thanks to the warming of the real estate market. Novaland unveils Park Avenue promotion Bizhub

Housing developer Novaland Group has unveiled a new promotion for The Park Avenue office-tel and apartment complex in HCM City’s District 11., e.g. customers buying the project this weekend will have a chance to win diamonds valued at VND75 million (US$3,400) in a lucky draw, Customers paying 35 per cent down can borrow from banks without interest for the first two years,…. Hong Kong seeks ties with VN Stockbiz

Hong Kong looks forward to stronger ties with Viet Nam, its chief secretary for administration, Carrie Lam, has said. Speaking at a luncheon meeting on “Opportunities for Hong Kong and Viet Nam under ASEAN Regional Co-operation” in HCM City yesterday, she said Viet Nam is Hong Kong’s third largest trading partner in ASEAN.

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 23 August 2016

Colliers Internationalâ&#x20AC;&#x2122;s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Tax cuts for firms that renovate apartments? Vietnam Investment Review

The Ministry of Finance proposed the government should offer a preferential corporate income tax of 10%, compared to the current popular rate of 20%, for firms that are renovating deteriorating apartment blocks. This is aimed at attracting developers to participate in restoring unsafe old apartment buildings, which are a pressing problem in terms of living standards, safety and the urban landscape in Ha Noi and HCMC. Ministry eyes promoting stable realty market

Tax cut

Bizhub

The construction ministry is drafting a project on management of the property market through six measures to support transparency and stability. However, there were potential risks to which special attention must be given, e.g. the imbalanced developments in supply and demand of luxury projects and housing projects, the concentration of the credit flow, new capital sources, the simplification of administrative procedures,â&#x20AC;Ś. Awaiting challenges in retail marker

Stable realty market

Bat Dong San

The competition between domestic retailers and the foreign ones, together with the emergence of new giants in the center and outskirts of Saigon not only opened the race, but also brought the challenges to the market share. Some of the most challenges are the limitation of the retail market in suburban zone, the decline in retail rent, false customer segmentation, .. Young opt for flats over houses in City Vietnam Investment Review

The HCMC government has turned down proposed changes to the zoning plan for a section in Thu Thiem New Urban Area even though the changes would pave the way for a US$4-billion project to go up there. The HCMC government said the project did not match the scale-1/2000 zoning plan for Functional Section No. 1 and stressed the city would not adjust the approved zoning plan.

For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ÂŠ2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 24 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Sapphire to withdraw 51% shares from Sanctuary Ho Tram Cafeland

Sapphire has announced to withdraw 51% shares from Sanctuary Ho Tram project. “The withdrawal will bring out the best benefit for shareholders as well as be more consistent with company’s strategy in long term” – said by Mr. David Clarkin, Co-CEO of Sapphire. Hanoi and HCMC to yield the highest rate of return in Vietnam’s office sector

Sanctuary Ho Tram project

Bat Dong San

Vietnam’s two major cities – HCMC and Hanoi - are rated as one of the highest rate of return in Vietnam’s office sector, reaching 9.3% and 9% respectively. Although Asian market had suffered lots of fluctuations in the first half of 2016, rates of return in most major office markets in the region were stable, except for Jakarta and Manila only. The Coast Villas in Phu Quoc officially on sale

Hanoi and HCMC to yield the highest rate of return in Vietnam’s office sector

Vietnam Investment Review

On August 14, developer Nam Anh Real Estate Consultancy and Investment Corporation officially launched 153 vacation villas and 25 commercial shop houses in The Coast Villas in Phu Quoc. “The vacation villas and the 25 commercial shop houses, besides generating profit for the owners, are also going to see their value increase in the future.” - Calculated by developer Nam Anh. Danang to crack down on slow real estate projects Vietnam Investment Review

The authorities of the up-and-coming central city of Danang are now more determined to revoke the licences of slow real estate projects as well as to enforce related laws. At the end of July 2016, the Danang People’s Committee asked all government agencies to review slow projects, and said it would revoke those that lagged behind the progress committed to by the investors. The city will also stop or suspend projects that are not necessary at the moment or have low profit. EU business positive on VN Vietnam News

Enterprises from the European Union remain optimistic on the business environment in Vietnam, with many of them planning to increase investment, according to a survey for quarter 2, 2016, conducted by EuroCham Vietnam. Accordingly, the majority of European enterprises acknowledged that the country’s macroeconomic stability will likely continue, with 56.3% of respondents forecasting “stabilisation and improvement” and just 9.4% of respondents expecting deterioration and 34.4% think that it will not change. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2016. All rights reserved. vietnam.media@colliers.com

colliers.com/vietnam

Daily Real Estate News Highlights Vietnam - 25 August 2016

Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

The underground race of casino developers heats up Vietnam Net

Though the government decree on casinos has not yet been promulgated, the race for operation licenses has heated up in the billion-dollar market. A series of casino projects located in many provinces from the north to the south are awaiting licenses. The underground race of casino BRG to take over Hue ITC developers heats up Vietnam News

BRG Group will become the owner of Century Riverside Hotel Hue, one of the biggest hotels in Hue City, through holding of a 74-per-cent stake in Hue Investment and Tourism Ltd Co after the company’s equitisation. BRG is expected to spend at least VNĐ75 billion to acquire the shares as the selling price will not be lower than the highest successful bidding prices at the IPO. Japan firms invest in local property sector despite potential risks

Century Riverside Hotel Hue

Vietnam Net

Masataka Sam Yoshida, senior executive for the Vietnam market at Recof, told the Vietnam M&A Forum 2016 in HCMC last week that M&A deals involving Japan’s companies on the local market rose last year following a slowdown a year earlier. This year, the real estate market is forecast to maintain strong growth momentum but experts said its growth is not sustainable. Sales ratio of housing sector increased by 110% Bat Dong San

In comparison with the same period last year, the number of sold townhouse soars by 110%, which makes it become a strong competitor to apartment segment. Indeed, the trivial price gap and affordable acreage are two main factors helping the former prevail over the latter gradually. Large-scale projects outgrow small valley locations Vietnam Investment Review

Numerous large-scale luxury apartment projects being implemented in Hanoi’s small valleys have put pressure on social and traffic infrastructure. These projects include Sao Anh Duong apartment, Van Thai Group’s Sky Garden Towers, Star Tower project, Pandora Nearby Villas and Diamond Blue Apartments Project.

colliers.com/vietnam