Monthly Real Estate News | December 2016 by Vietnam Realty

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Daily Real Estate News Highlights Vietnam - 01 December 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.

Gamuda Land to celebrate 40th anniversary of Gamuda Berhad VnEconomic Tímes Gamuda Land will organize celebrations of the 40th anniversary of Gamuda Berhad at Clubhouse - Gamuda Gardens Township on Sunday December 11th. In the morning, a Handover Ceremony for The ONE Residence - the first apartment complex built by Gamuda Land in Hanoi, will take place as well. More than 600 apartments of The ONE Residence will be officially handed over to residents, Gamuda Land to celebrate 40th contributing to creating an affable and modern community within Gamuda anniversary of Gamuda Berhad Gamuda Gardens Gardens. Ban from using condominium for office. What do businesses say? VnEconomic Tímes The ban of using apartments as company office has been regulated in Law on Housing 2014, and it is mentioned again in the document of Hanoi Department of Planning and Investment. In reality, it is hard to request firms to abide such a regulation. The vacant area of office towers in the capital’s central business districts is still high. The occupancy rate of these towers range from 47pct to Ban from using condominium for office. What do businesses say? 85pct. The reason is due to high hiring prices, while moving office to outskirt areas would cause transport inconvenience. HCMC apartment market, new landing in Western region Dau Tu Chung Khoan Since 2015, especially from early 2016 up to now, the real estate market in the West of HCM city has looked like a bar magnet strongly drawing capital sources. After gaining many successes with condo projects in the Eastern and Southern city, Hung Thinh Corp. has recently entered the Western real estate market with two acquisition deals of two large-scale projects. Previously, many real estate giants also poured capital into a large number of projects in this area such as Valeo Dam Sen, Celadon City, Trung Dong Plaza, Au Co Tower, Invesco Babylon, Southern Dragon and Centa Park. EGN extends network to Vietnam The Saigon Times For the first time, Hanoi operates Hi-tech Center for Digestive Diseases at the general hospital Saint Paul, which meets international standard and has the support in health check and treatment of world’s top professors. The center is founded in order to let Vietnamese patients benefit from EU-quality treatment in Hanoi. Especially, this is also a project executed following the “non-profit socialization” mechanism. Consumption loans jump in HCM City Bizhub According to the State Bank of Viet Nam, consumer credit in HCM City has grown by an average of 20 per cent per year during 2012-2015. Nguyen Hoang Minh, Deputy Director of State Bank’s HCM City branch said consumption loans during this period accounted for between 6 per cent and 8 per cent of the city’s total outstanding loans.

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Daily Real Estate News Highlights Vietnam - 02 December 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.

Sun Group to introduce residence and trade complex Bizhub

Sun Group will introduce the Grand City Ancora Residence apartment and trade complex to the public at a ceremony at Melia Hotel in Ha Noi on December 11th, 2016. Located at a favorable location in the capital city’s center, Sun Grand City Ancora Residence is expected to provide a huge push to the high-class real estate market in Vietnam. Chance to buy luxury houses at affordable prices Dau Tu

The Grand City Ancora Residence

Investors are taking efforts to accelerate construction of condo projects and launch many promotion projects in the year end. This is a good opportunity for home buyers to own an apartment at a reasonable price. Some of outstanding projects worth noting are Gelexia Riverside, Gamuda Gardens (Hoang Mai district), Goldsilk Complex (Ha Dong district) and Aqua Bay Sky Residences (Ecopark The Goldsilk Complex (Ha Dong urban area, Van Giang, Hung Yen). district) Ecohome Phuc Loi: thousands of transactions in first week of sale Kinh Doanh

At the inauguration of sample home Ecohome Phuc Loi held on November 19th, the investor Capital House announced the sales prices of the project – only from VND16.5mln per sqm. Immediately, the prices created a wave attracting home-buyers, as the project has the most affordable prices among housing projects in Long Bien District and neighboring areas. Real estate launches many financial solutions to support home demand of youth people 24h

Developing green, high-quality but affordable apartments is now a potential branch of the nowadays apartment market. Even though it is still new, this apartment series show good absorption results, as it meets demand of a majority of home-buyers, especially youth ones. Affordable and mid-end housing segments are preferred by the market. With the support of banking system, interest rate of 6-7pct for first two years, and flexible sales strategies, home-buyers will be encouraged to buy housing in these segments. Vietnam climbs 11 places in WB tax rankings Vietnam Breaking News

Vietnam has increased 11 places to 167th position in terms of paying taxes in the World Bank’s (WB) 2016 Doing Business report. The WB uses the criteria of paying taxes to rank 189 economies on the ease of doing business. The improvement was revealed at a dialogue on taxation and customs policies and procedures held by the Finance Ministry and the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi on November 28th. The dialogue attracted the participation of more than 400 companies and industry associations. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 05 December 2016

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Bora Bora tower making waves in real estate market Vietnam Investment Review Customers have shown strong interest in luxury apartments in the Bora Bora Tower by Kusto Home, judging by participation and the number of booked condominiums at the introduction event held on November 26th. Hundreds of guests came early. Many of them were impressed by the unique position, green environment and advantages of Diamond Island – the only natural island within the city. Many quick decisions to hold place for a condominium have been made during the event. City hosts green farm day next weekend

Bora Bora tower making waves in real estate market

Saigon Times Daily Phu My Hung green farm day 2016 will take place from 8:30a.m to 8p.m on December 10th -11th at the Crescent Mall in Phu My Hung Urban Zone in District 7. According to Nguyen Buu Hoi, deputy director of Phu My Hung Development Corp., the festival day is aimed at promoting a green and healthy lifestyle for local community via exhibitions of green and safe and nutritious products. Visitors to the event will have a chance to get more knowledge and information on how to wisely choose food and browse for diversified products and savor food and drinks. Identify opportunities and risks in the market

City hosts green farm day next weekend

Forbes Vietnam The housing market in 2000-2008 saw steep price rising in high-end segment, and the three recent years also saw the same thing. Nam Long Group strives and thrives in affordable housing segment, making 65pct of Vietnamese labourers as its main customer target. Nam Long also develops townhouses and villas, which have the prices of mid-end segment. Industry & Trade Ministry joins club of billion-dollar investors in stock market Vietnam Net In August 2016, CafeF reported that eight institutions and individuals were holding listed shares valued at $1 billion and more. These included one individual, two ministries, two state-owned enterprises and three foreign investors. They were the State Bank of Vietnam (SBV), Petro Vietnam, State Capital Investment Corporation (SCIC), Ministry of Finance, Dragon Capital, F&N Dairy Investment, Mizuho Bank, and one individual – Pham Nhat Vuong, president of Vingroup. With the government’s serious measures to encourage enterprises to list shares on the bourse, the club of billion-dollar investors in the stock market has had new members – two ministries and one individual. Nonghyup Bank opens branch in Hanoi Vietnam Investment Review South Korea’s largest bank Nonghyup Bank has received an official license from the State Bank of Vietnam (SBV) to open a branch in Hanoi. Founded in 1961 in Korea, Nonghyup is a co-operative bank with 100 per cent of the capital contributed by farmers and local people. Nonghyup is both a commercial bank and an agriculture policy one to provide credit services for households and businesses, contributing to the Korean economy through credit financing in the field of rural agriculture.

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Daily Real Estate News Highlights Vietnam - 06 December 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.

Danang resort uncontested world leader for three years in a row Vietnam Investment Review Early this month, InterContinental Danang - Sun Peninsula Resort of leading Vietnamese real estate developer Sun Group has been honoured by the World Travel Awards as the World’s Leading Luxury Resort in the grand final gala held by The Sun Siyam Iru Fushi in the Maldives. The resort once again became the winner in the World’s Leading Luxury Resort category InterContinental Danang - Sun Peninsula Resort after receiving the highest number of votes from travel professionals and industry stakeholders from around the world, surpassing all competition. Realty market in November 2016: Locally increasing prices and the redirection of investors Gia Ca Vat Tu In November, the real estate market continued to witness a mass of mid and high-end apartment launchings and sale-openings. With the appearance of Tam Trinh road expansion and Minh Khai – Vinh Tuy – Yen Duyen road construction projects, many condo projects have been introduced Sunshine Palace apartment in southern Hanoi including Park View Tower, Aqua Bay Residences Sky, Sunshine Palace, Eco- Green City, Gamuda Gardens and Imperial Plaza. LePARC by Gamuda - New entertainment complex for the youth Eva A Giant Lantern Festival will be held in December at Le PARC, Gamuda City, Yen So, Hoang Mai. The event is part of an event series welcoming LePARC by Gamuda entertainment complex opening put into service on December 3rd. At the same day, an event titled “Run for the Heart 2016” will be also organized in the complex. Resort management: Time to challenge the monopoly position of foreign corporations Cafebiz At the present, 5-star hotel management, especially for resorts, can be said to be the exclusive market of foreign corporations with high costs, hiking the prices of products and reducing profits of investors. According to a real estate’s survey in 2009-2014, among 37 hotel management agreements in Southeast Asia, there are many ones that make investors to shoulder various fees. Outstanding banks receive awards Bizhub The 5th Viet Nam Outstanding Banking Awards was organised in HCM City on December 1st to honour several banks for their contribution to the development of the banking and financial sector and Viet Nam’s economy this year. The members of the board of judges were representatives from Government agencies, ministries, associations and experts in the fields of finance and technology.

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Daily Real Estate News Highlights Vietnam - 07 December 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.

Quang Ninh: Ha Long city to make tourism breakthroughs Quan Doi Nhan Dan As a big tourism center of the northern province of Quang Ninh, Ha Long city is aiming to make breakthroughs in services development, especially tourism. Ha Long has attracted big groups and businesses in tourism with the most noteworthy projects being the Ha Long Ocean Park of Sun Group, the Vincom commercial center and the The Ha Long Ocean Park of five-star resort in Reu islands, also the Times Garden complex of My Sun Group Way Group, among others. A US$20-mln entertainment complex inaugurated, 99 condotels of Naman Garden launched Cafeland Condo developer Gamuda Land has held an opening ceremony of LePARC entertainment complex worth US$20 million at Yen So Park, Hoang Mai District, Hanoi. The LePARC complex totaling investment 99 condotels of Naman Garden of more than US$20 million is divided into 56 stores of 3 to 4 floors, launched offers a gross leasable area of more than 20,000sq m. Ghost villas in Ho Chi Minh City Vietnam Investment Review Although the real estate market in Ho Chi Minh City has been warming up in the last two years, there are still hundreds of ghost luxury villas. With the lion’s share located in Districts 2 and 9, these villas are in projects having completed infrastructure and favourable sites. The villas are sold out at the price range of VND5-20 billion ($220,478-881.912) apiece, however, only a few homeowners have already moved in, while the remaining units are abandoned and covered by grass and moss. Encouraged by 20 percent profit, investors pour money into real estate Vietnam Net The real estate sector is the brightest part in the picture of Vietnam’s economy in the first 10 months of this year, with the number of newly set up businesses during that time increasing by 93 percent and registered investment capital up by 213 percent in compare with the same period last year. Local newspapers have reported that the domestic real estate market is heating up in the last months of this year. Q4/2016: Land and housing prices in Hoang Mai district Vietnam Finance In Q4/2016, the land and housing prices witnessed an increase in Hoang Mai district thanks to the completion of the infrastructure construction and high demands of customers. For example, The Two Residence project, located in the Gamuda urban area, covers a total area of 7.4 hectares, consists of two L-shaped towers of 27 and 30 floors, 550 apartments with areas ranging from 37-127sqm. The apartments are priced from VND20 million/m2. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 08 December 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 One Saigon: Luxury apartment Saigon Dau Tu Tai Chinh The One Saigon has a diamond-level location with three fronts in the heart of District 1 and only a few minutes of walk away from the major destinations of HCMC such as Ben Thanh Marketplace, 23-9 Park, Saigon Hospital, City Theater and Nguyen Hue Pedestrian Street. Additionally, the The One Saigon project has convenient and elegant living space. Ten Lua real estate area does not cool down Nguoi Lao Dong Prices of land lots, mainly Ten Lua Area, surrounding AEON Mall located in the Hi-tech Medical Park (Binh Tan District, HCMC) have increased by 30-40pct y-o-y. Importantly, in the future, there will be the metro station C11 of Metroline 3A on Kinh Duong Vuong Street connecting with the Hoa Lam – Sharngri-La Hi-tech Medical Park and Ten Lua Area. Land prices of areas that are 10 minutes away from metro-line station are expected to Ten Lua real estate area does not increase by 10-20pct. cool down Shortage of affordable homes Vietnam Investment Review With most of the investor attention in Hanoi focused on mid and high-end apartments, concerns have arisen about a possible shortage of affordable apartments. These shortages could potentially lead to the increase of affordable housing prices in the coming months. At the end of this August, approximately one - half of the 17,000 apartments available from developers are either mid or high-end. It is also predicted that there will be an additional 13,000 mid or high-end units launched on the Hanoi property market in the fourth quarter of 2016. Vietnam’s best bars and clubs Timeout Journalists of the Timeout magazine have recently reviewed the top places in Hanoi, HCMC and Danang to drink and party this festive season. Among them, located on the 20th floor of the Novotel Saigon Centre, onTop bar boasts panoramic night views of the Saigon city lights. This space outdoor terrace is opposite to Bitexco Tower, making an excellent spot for customers to lounge on comfy sofas to admire an unobstructed view of the countdown fireworks. ACV seeks to earn $4.83 million from divestment Vietnam Investment Review Airports Corporation of Viet Nam (ACV) is seeking to earn more than VND108.6 billion (US$4.8 million) by selling nearly four million shares of Southern Airports Services Joint Stock Company (SASCO). SASCO is listed under code SAS on the Unlisted Public Company Market (UPCoM). The company’s shares were up 2.2 per cent yesterday to close at VND27.500 per share. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 09 December 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.

My Dinh District properties: What is the attraction? Bao Hom Nay With advantages in terms of location, price and utilities, the complex BID Homes - The Garden Hill project located at 99 Tran Binh Street is attracting special attention in the My Dinh District real estate market, Hanoi. Over the last two years, My Dinh District real estate has been stable and enjoyed the most transactions, even during a BID Homes - The Garden Hill time when the general market has not fully recovered. project in My Dinh District Behind the fever of Danang land Cafef Foreign experts advise that Danang has flexible and advantageous mechanism and policies which will attract investors to seek investment opportunities in Danang. Danang is attracting investors as the city’s government are trying to turn it into a Singapore type city in Vietnam, with many large-scale planning from two banks of Han River and Son Tra Peninsula, etc. Prime Minister asks for drastic measures to accelerate social Son Tra Peninsula in Danang housing Vietnam Investment Review PM Nguyen Xuan Phuc on December 7th chaired a videoconference on social housing and houses for workers. Participants at the event included Deputy PMs Vu Duc Dam, Trinh Dinh Dung, leaders from ministries and agencies and 63 localities. Earlier. The Resolution of the 12th Party Congress highlighted the implementation of the housing policy for disadvantaged people, the poor, people living in remote areas, low-income people and workers working at industrial parks and students. Vietnam’s economy: Positive growth prospect but potential risks Cong An Nhan Dan At the report of reviewing Vietnam’s economic situation update with themed `Viet Nam’s agricultural transformation - increasing value, reducing input announced on the afternoon December 5th, World Bank said that “Vietnam’s economy remains resilient and maintains growth when the global economic context is not favorable, however, there still hides some instability in the medium term”. The World Bank report predicted that Vietnam’s growth would pick up from 6% this year to 6.3% in 2017 - 2018 thanks to agricultural production is restored and global economic outlook continues to improve. Some banks cut deposit interest rates Bizhub Several commercial banks have unexpectedly slightly cut the dong-denominated deposit interest rates in the past week, according to report by the State Bank of Viet Nam (SBV). BIDV has inched down the rates for demand and 36-month terms from 0.3 percent to 0.2 percent, and 7 percent to 6.8 percent per year, respectively, since November 29th. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 12 December 2016

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

Hanoi: affordable apartment market is seeing fierce competition Gia Lai TV Over the last three quarters, more than 14,000 apartments have been sold of which affordable and mid-end class accounted for approximately 50pct. In Q4-2016, it is expected that more than 3,000 affordable apartments with launch for sale. This will make affordable projects become less of a demand, forcing investors to use different methods to attract customers. Just got record profits thanks to affordable apartments, this company is now worried about Vingroup tapping the market

Hanoi: affordable apartment market is seeing fierce competition

Cafebiz Nam Long is one of the leading privately-owned real estate developers in Vietnam. They posted a record profit for the second straight year. For year-end of 2015, the net revenue and profit of Nam Long reached VND1.267 billion and VND276 billion, respectively. However, Nam Long is now facing a fierce competition with Vincity - a Vingroup brand. Just days ago, property giant Vingroup decides to tap affordable apartment market with its plan to build between 200,000 and 300,000 Vincity apartments starting from VND700 million each over the next five years. Fireworks festival to launch in Danang Vietnam News

In Q4-2016, it is expected to have more than 3,000 affordable apartments launched for sale

The Da Nang International Fireworks Festival 2017 will launch on April 29th next year and run until June 29th. Huynh Van Hung, Director of the central city’s Culture and Sports Department said at a press conference yesterday that the biennial fireworks competition will be promoted as an official culture and tourism festival. Eight teams such as Austria, Italy, Australia, United Kingdom, Switzerland, China, Japan and host Da Nang - Viet Nam will compete. In addition, a constant series of cultural performances will be staged over a two month period. The fireworks festival 2017 would be titled Shining Ngu Hanh Son (or Marble Mountains) to showcase the city’s cultural symbol. Ministry of Public Security to trace demonetisation rumour-monger Vietnam Investment Review The Prime Minister Nguyen Xuan Phuc on December 6th directed the Ministry of Public Security to trace the person who spread the rumour that Viet Nam would replace the current banknotes with new ones. Reaffirming that the spread of the rumour had the wrong intention to cause a negative impact on Viet Nam’s economy and investment environment, Phuc said that this kind of false information strongly affected the nation’s macro stability. Securities bounce back dollar price hikes NHD The cash flow to the stock market was dispersed by the large-cap stocks, and exchange gossip pressure should continue falling market. At the same time, the pressure from rumors of money exchange also pushed the market to drop deeply. In the first trading day of more than 641.28 million shares of Sabeco (code: SAB), their price hit the ceiling with an increase of 20% - from a reference price of VND110,000/share to a closing price of VND132,000/share. This pushed the market capitalization of SAB to VND84.649 trillion, from more than VND70 trillion previously, making it among top five large-cap listed companies on HoSE.

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Daily Real Estate News Highlights Vietnam - 13 December 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.

SonKim launches Serenity Sky Villas - Signature Edition Vietnam Investment Review SonKim Land is launching the Serenity Sky Villas project – Signature Edition at 259 Dien Bien Phu street, District 3, on December 22nd. The project is located in Commune 7 of District 3, in the heart of the prestigious area bounded by Dien Bien Phu, Tran Quoc Thao and Le Quy Don streets, right at the centre of the city, which is famous for Serenity Sky Villas old trees and French villas. Dual-key apartment at Diamond Island: A bright spot for investors Vietnam News Dual-key is a new housing concept that was well received on overseas markets of US, Australia and Singapore. The modern lifestyle requires privacy and space for a big family of two generations. Diamond Island proudly is one of pioneer projects to first introduce this smart Dual-key apartment at Diamond Island housing concept to Vietnam, having dual-key units in every tower of phase 2. Hanoi real estate at year-end: Feverish apartments of Vingroup 24h According to the latest reports on Hanoi real estate market in 2016 which reaches very high growth rate, especially in high-end apartment segment, accounting up to 45pct of the total number of apartment launched for sale, in which the liveliest area is the west of Hanoi. In this area, there are a Vingroup-backed project located in a very beautiful location, next the 32-hectare Yen Hoa Park. Resort properties attract customers Bao Hom Nay The number of Tourists are visiting Nha Trang, Danang and Phu Quoc has been increasing sharply over the last 12 months, which the high tourism spending on capacity, especially for 4- and 5-star services. For this reason, the occupancy rate at condotels in many places have reached over 90 pct. These are some reason why resort segment has seen breakthrough development in 2016. Laguna Golf Lang Co gets awards Saigon Times Weekly Laguna Golf Lang Co in Thua Thien-Hue Province has been awarded The “Golf Resort Of The Year” at the 17th annual International Association of Golf Tour Operators (IAGTO) Awards 2017 held in conjunction with the International Golf Travel Market in Mallorca, Spain. In addition, the golf course also won two awards “Top 10 Best Golf Resort In Asia Pacific” and “Top 10 Best Course In Vietnam” at the Asian Golf Awards hosted by The Asia Pacific Golf Group (APGG). Situated about an hour’s drive from Danang International Airport, Laguna Golf Lang Co is located within the greater Laguna Lang Co, a US$200million fully-integrated resort development by Banyan Tree. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 14 December 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.

Land price soars on Phu Quoc Island as a result of billionaires’ race Vietnam Net The investment boom on Phu Quoc Island, with the appearance of the biggest real estate developers, from Vingroup and Sungroup to BIM and CEO, has caused land prices to escalate daily. Phu Quoc is now a ‘golden Land price soars on Phu Quoc land’ for tourism development. However, most of the hotels have been Island as a result of billionaires’ developed by locals and are small, while only a few are managed in a race professional way. Property inventory value reduced Bizhub According to the Ministry of Construction, Total value of property inventory nationwide has reduced in the first 11 months of this year. The ministry said that until November 21st, total value stood at VND31.84 trillion and VND867 billion is lower than the value in the period from the beginning of Property inventory value rethis year until October 20th, and a reduction of VND19 trillion compared duced to end-2015. Vinh suspends 17 construction projects Vietnam Investment Review The People’s Committee of central Nghe An Province’s Vinh City has suspended the construction of 17 building sites, at which tower cranes were used without licensed or cranes that were operating outside specified construction areas. The 17 building sites flouting regulations were among 21 on-going construction sites that the committee had inspected since early this month. Industrial parks and economic zones in Quang Ninh: Breakthroughs in investment attraction Dau Tu After 10 months, investment attraction in industrial parks and economic zones of Quang Ninh Province has a breakthrough step, increasing 31.12 percent compared to the plan of this year and rising 142.7 percent compared to the same period last year. Quang Ninh Economic Zone Management Board said that until October, the total investment reached VND19.668.25 billion (USD 502,649 million and VND8.614.323 billion). The management board has granted investment registration certificate for 11 projects (including 6 FDI projects and 5 domestic projects), with the total investment registration reached USD499.875 million (equivalent to VND10.993.208bln) and VND5.948.269bln. Deposits rise in Dong Nai’s banks Bizhub Credit organisations in Dong Nai Province have mobilised VND153 trillion (US$6.8 billion) in deposits from early this year till date, which is 23 per cent higher than at end-2015. Of this, Vietnamese Dong deposits touched VND143 trillion. Total outstanding loans from the early this year to now is VND133 trillion, 21 per cent higher than that at the end of 2015, the State Bank of Viet Nam’s (SBV) branch in Dong Nai said. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 15 December 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.

Advantage location – The Ace for success of D’capitale Tien Phong Hanoi high-end property market toward year-end prospers with new abundant supply, mainly from Southwest Hanoi – the new administrative center of the capital. Among new projects, D’. Capitale – Tran Duy Hung becomes a hotspot in the real estate market because of “diamond-level” Advantage location – The Ace for location, ecological living space and sufficient utilities. success of D’capitale 20 Gamuda landed properties sold in a day Bizhub Around 20 contracts for Gamuda Land’s landed properties were signed on Sunday in Ha Noi, on the occasion of the 40th year anniversary of the real estate firm. The construction of Gamuda Gardens, labelled as an integrated lifestyle township, began in 2012 and is being completed in phases. Several promotions and attractive offers for customers have 20 Gamuda landed properties sold made the project popular. in a day Realty market poised for strong growth next year Vietnam News After posting a stable performance this year, the property market is poised for solid growth in 2017, driven by the improved economic situation, and developers more focused on market demands. Property expert Dang Hung Vo said that an over-heated market would not likely happen in the overall market or some segments next year, but demand would certainly be higher than this year. Vo said the affordable housing supply would increase next year, as several property developers recently announced expansion into this segment, including Vingroup and Him Lam. However, supply would still be below demand next year, he added. BRG Group and Sumitomo partner for real estate and retail prospects Vietnam Investment Review BRG Group, a leading Vietnamese private investment group in finance, banking, and golf resorts, has established a strategic relationship with Japan’s Sumitomo Corporation to increase collaboration in potential business sectors, especially in real estate and retail. The cooperation, which was marked by signing a Memorandum of Understanding (MoU) on December 1st, is considered a foundation for developing the two firms’ collaborative potential in numerous sectors, including real estate, high-tech agriculture, and retail. Still unbalanced supply-demand An Ninh Thu Do Noticeably, according to experts, the market is seeing strong participation of speculators who use housing loans and have demand to sell their apartments when handed over. Finished projects have their prices down averagely by 2.6pct. The reason is that speculators do not have demand to use what they bought, struggle in seeking tenants and have to massively re-sell. It is expected that in 2017, many speculators will have their apartments handed over, and want to re-sell to pay housing loans, rising supply and weakening demand. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 16 December 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.

A bright outlook for housing Vietnam Investment Review In 2016, the real estate market continued in its positive trend, following 2015’s signs of resurgence. In general, the overall market developed with stabling. Although the supply of apartments in 2016 was not as high as 2015, the figures increased steadily quarter by quarter. In the first nine months of 2016, Hanoi recorded a total of approximately 18,900 Despite a dip of apartment supapartments, while Ho Chi Minh City recorded 25,800 new apartments ply from 2015, 2016 gave firm offered for sale. signs that sustainable growth is HCMC begins forcing business offices out of condo buildings back Saigon Times Daily The HCMC Department of Planning and Investment has urged those businesses having offices in condo buildings in the city to move out within 15 days. They will have to stop operation inside condo buildings and register for new office addresses. If they fail to do so, the department will coordinate with the Construction Department and district authorities to deal with them in accordance with law. HCMC begins forcing business offices out of condo buildings Trung Nam seeking permission to build two bridges Saigon Times Daily Trung Nam Construction Investment Corp. is seeking approval from the HCMC government to construct two more bridges as part of a flood tide control project worth VND10 trillion (US$442.1 million). The flood tide control project is scheduled to be completed in April 2018, two months earlier than expected. A representative of the company told a meeting with the municipal government over the progress of the project that it is building six flood tide control gates in Ben Nghe, Tan Thuan, Phu Xuan, Muong Chuoi, Cay Kho and Phu Dinh, and a 7.8-kilometer riverside dyke. HCM City authorities vow to facilitate British investment Vietnam Breaking News The HCMC Department of Planning and Investment has urged those businesses having offices in condo buildings in the city to move out within 15 days. They will have to stop operation inside condo buildings and register for new office addresses. If they fail to do so, the department will coordinate with the Construction Department and district authorities to deal with them in accordance with law. According to Government Decree 99/2015, which guides the implementation of the Housing Law, business offices are disallowed inside condo buildings. DATC to sell 3.7m shares of Cosevco Vietnam Investment Review Vietnam Debt and Asset Trading Corporation (DATC) will sell 3.7 million shares of Cosevco Ceramic Tiles Joint Stock Company at an auction on January 6th next year at the Hanoi Stock Exchange. According to the exchange, the initial price at the auction will be VND 10,178 per share. Registration to take part in the auction is from December 9 to 29, 2016. Foreign investors are allowed to buy 3.315 million shares. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 19 December 2016

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

Vingroup’s lakeside ultra-project Lao Dong In late 2016, Hanoi property investors talk about the ultra-project of Vingroup in West Hanoi. “Vinhomes Pham Hung” has become the sought-after project among projects that are going to be launched for sales in the capital. The project in West Hanoi has diverse development in Vinhomes Pham Hung term of both infrastructure and properties. A question for young families: Buy or rent a house? 24h Park View Tower has received much attention of customers on its design of smart apartments. The project is only 5 km from Hoan Kiem Lake, 700 meters from Times City, and 5-minute transport to Gamuda City, Yen So Park. The Park View Tower project also ‘inherits’ diversified internal and external utilities. Park View Tower Phuc Hung Holdings won project in ‘Hanoi Best urban area’ Kinh Te & Do Thi Gamuda Land Vietnam Ltd., on November 25, 2016, issued an approval letter to announce Phuc Hung Holdings as winner of “Design and Build” bidding package of CT1 condo, Gamuda Gardens project. The CT1 apartment building consists of 3 towers of 35 floors, 4-storey podium and 1 basement. Challenges for emerging market Doanh nhan Saigon Talking about Vietnamese economy in 2017, Mr. Pham Hong Hao, GM of HSBC Vietnam said that it would be a big challenge for Vietnam. After American election, the economic problems of the world will change because of FED increasing interest rates. Dollar prices will increase a lot. However, HSBC hopes Vietnam economy will grow stably and FDI will contribute to help to raise imports. Besides, the government needs to create good environment for foreign and domestic firms. Vietnam must have immediate solutions to promote some sectors effecting badly to bad debts to ensure the speed of growth. Thousands of people flocking to giant lantern garden in Hanoi Dep Plus A Giant Lantern Festival will be organized at LePARC, Gamuda City, Hanoi. The festival taking place from Dec 3rd, 2016 - Jan 22nd, 2017 will sport 40 giant lanterns, simulating well-known beauty spots in Vietnam and Korea. The program site will be divided into multiple areas; and in addition, welcome performances of hot Vietnamese and Korean singers.

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Daily Real Estate News Highlights Vietnam - 20 December 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.

FLC Faros signs strategic deal with Accor Cafef On December 13th, 2016, in Hanoi, FLC Faros Construction Joint Stock Company and AccorHotels – the world’s leading hotel operator - signed a strategic cooperation agreement. Accordingly, the AccorHotels will take part in managing Novotel Quy Nhon hotel FLC SeaTower Quy Nhon developed by the FLC Faros Company. Offering apartments with deferred payment to attract home buyers Phap Luat Him Lam Land Company has opened for sale its Him Lam Phu An luxury apartments in District 9, HCM City. 100 percent apartments were sold in just a few hours. The project’s apartments are priced Him Lam Phu An luxury apartfrom VND1.5-1.8 billion and offered with deferred payment policy. ments

Vingroup wins first prize of International Property Awards 2016 Thoi Bao Chung Khoan On December 12th, in London, Britain, at the prizing ceremony of the International Property Awards 2016, Vingroup excellently won the world’s first prize under “High-rise building” category with its Landmark 81 Tower, and the Asia-Pacific first prize under “Complex Township” category with Vinhomes Central Park. Sungroup, Vingroup and Geleximco co-research planning along the two banks of Red River Nguoi Dong Hanh Hanoi’s People Committee has recently announce that the conclusion of the city’s chairman Nguyen Dung Trung on unanimous content at the meeting regarding of inspecting the research progress to create the Planning for Red River’s banks. In accordance, Sungroup, Vingroup and Geleximco Group will cooperate with each other to sponsor the cost of planning making. VND32bln property inventory Kinh Te & Do Thi Up to December 16th, total property inventory value in Vietnam is VND31.842bln, down VND19.048bln year-on-year and VND867bln month-on-month. The property inventory is still following slight downward trend. At year-end, as usual, the trade volume will increase thanks to home-buyers’ preference in buying year-end home, boosting the rise of landed house prices.

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Daily Real Estate News Highlights Vietnam - 21 December 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.

Phu My Hung Midtown project officially introduced The Thao Van Hoa Phu My Hung Development Corporation has launched a new project, Phu My Hung Midtown in HCM City’s District 7. The company said that for the first time it is co-operating with other companies, such as Japan - Daiwa House Group, Nomura Real Estate Group and Sumitomo Forestry Group to set up a joint venture called Phu Hung Phu My Hung Midtown proDevelopment Joint Stock Company. Phu My Hung Midtown will be ject is located on the corner of a complex of condos, office, retail space and amusement centres, Nguyen Luong Bang and Tan Phu Streets located on the corner of Nguyen Luong Bang and Tan Phu Streets. Milton building - A luxury Pullman resort Vn Economic Times Milton Vietnam JSC has announced its new project, a European ecotourism village and resort at Truong Beach in Phu Quoc Island and kicked-off construction on the Pullman Phu Quoc Resort, as part of the project, on December 6th. In an area spanning 82.2 hectares, the village will be located in the centre of Truong Beach, and will include hotels, trade centers and entertainment venues. The project The Pullman Phu Quoc Resort at Truong Beach in Phu Quoc will feature 4,000 three, four and five-star rooms. Total investment Island in the project is VND10 trillion ($448.3 million) Foreign Developers Casting Radical Influence on Vietnam Real Estate Market Vietnam Business Forum According to one of real estate experts in an interview with Vietnam Business Forum, looking toward the highest specified projects across residential, retail, office and industrial they are largely developed by, or rely heavily on, foreign influence throughout the design and construction phase. “Hot” projects launch year-end products Vn Media Year-end is considered as a prosperous time for property firms, thus many projects are decided to launch in late year together with attractive promotions. In Q4-2016, Hanoi apartment market records a huge supply, with 13,000 new units. The market is expected to continue to have positive movements in Q4-2016, with increased growth in sales and trading. VietinBank provides Japanese firm with banking services Bizhub Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) inked an agreement with Yamanashi Chuo Bank, Ltd (YamanashiBank) and Joyo Bank, Ltd (JoyoBank). Under the agreement signed on December 15th, VietinBank will directly support business operation of Japanese companies, who are customers of YamanashiBank and JoyoBank in Viet Nam. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 22 December 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.

Single villa in compound Valora - Beauty in minimalist design Tuoi Tre 2016 has witnessed the rise of compound villas with many investors entering this market. There is also as well as a trend to try to escape from downtown and its heavy pollution. This might be a reason to choose a villa compound instead of an apartment. Valora Fuji of Nam Long attracts a lot of attention. It has good location, new modern minimalize design and excellent management. Single villa in compound Valora Beauty in minimalist design The standard of the villas and facilities make it a genuinely good place to live in. Hanoi saw bustling housing scene year Vietnam Investment Review Hanoi’s real estate market has had its busiest year. A year’s worth of savings has encouraged buyers to take that step towards becoming homeowners and likewise persuaded investors to complete projects and launch new ones. To seize this year-end fervour, many investors are looking for buyer incentives to push the progression rate. Some notable projects delivering new apartment supply include Vinhomes Metropolis, Vinhomes Tran Duy Hung, Sun Grand City, Hanoi saw bustling housing scene year - Vinhomes Metropolis Lieu and Riveria Park. Giai Experts: ‘Realty bubble’ on horizon Vietnam Investment Review The rapid increase in demand and market price of the property sector in Vietnam has sparked concerns of a 2017 real estate bubble. However, experts confirmed that 2017 will become a milestone year for mid-end and affordable residential unit growth. The mid-end and affordable segment has attracted many big developers, such as Vingroup, Muong Thanh, and Viet Hung Urban Development Company. There will be thousands of affordable houses entering the market in the next three years. Which housing segment to cause wave in 2017? Lao Dong The market after a while will witness property developers to modify their prices back to reasonable and balance state for the market. In 2017, even though affordable housing does not have abundant supply like high-end segment, it will still cause waves due to high practical demand. Construction ministry warns against resort real estate glut Saigon Time Daily Investors should be cautious in resort real estate projects as the strong growth of resort real estate this year may lead to an oversupply in the future, the Ministry of Construction advised. Resort real estate has developed strongly since 2015 with many projects mainly in Danang, Khanh Hoa and Phu Quoc opened for sale, said Pham Van Truong, head of the real estate market management office under the ministry’s Department of House and Real Estate Market Management at a review conference on the real estate market in 2016 and market trends in 2017 held by the Vietnam Association of Property Brokers last Friday.

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Daily Real Estate News Highlights Vietnam - 23 December 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.

Massive projects to be handed over before Tet Holiday Cafef To meet demands of home buyers in the year end, a series of realty developers have launched interesting policies and targets committing the delivery before Tet holiday. It is worth mentioning about projects in Hanoi about to be handed over and put into operation in the end of 2016 such as D’. Le Pont, Hoang Cau of Tan Hoang Minh Group, Five Star Garden, Times Tower - Le Van Luong, The Massive projects to be handed Legend Tower - Nguyen Tuan, Ecolife Capitol, Sun Squere - My Dinh and Hateco over before Tet Holiday - The – Hoang Mai. Legend Tower Sacomreal-S opens representative office in Hanoi Kinh Doanh The Sai Gon Thuong Tin Real Estate Joint Stock Company (Sacomreal) has recently inaugurated a representative office in Hanoi at Royal City shopping center, 72 Nguyen Trai, Thanh Xuan district, starting the strategy of penetrating in the northern realty market. Sacomreal has been established for 12 years. It has developed many projects, including Belleza Apartment, Celadon City, Carillon Apartment (1, 2, 3), Jamona Home Resort, Jamona City and Charmington La Sacomreal-S opens representative office in Hanoi Pointe. Much room left for PPP projects Talk Vietnam HCMC in the past two years has attracted hundreds of urban infrastructure projects in the form of public-private partnership (PPP) and still has enormous room for more of such projects in the coming time. Le Quynh Dai, vice chairman of District 8 told that the Daily on the sidelines of the HCMC People’s Council’s session here last week that at least three investors had shown interest in the relocation and renovation of households along Doi Canal in the form of PPP in the district. They are Saigon Housing and Infrastructure Investment JSC, Vingroup and the Ministry of Defense’s Lung Lo Company. HCM City guarantees loans worth VNĐ360 billion for SMEs Bizhub The total investment of these eight projects is VND813 billion. More than 200 SMEs received support from the HCM City Credit Guarantee Fund this year, which includes financial consultancy. Credit guarantee for SMEs to procure bank loans was not as efficient as expected because of the requirement to mortgage assets, which SMEs found difficult to meet. Trial starts of one Expressway toll station Vietnam Economic News According to the Viet Nam Road Administration, trial operation of one toll station on the Cau Gie - Ninh Binh Expressway has started. At a meeting last month, Minister of Transport Truong Quang Nghia asked the Viet Nam Road Administration to remove the Dai Xuyen toll station on the Cau Gie-Ninh Binh Expressway no later than January 1st, 2017. According to the Viet Nam Road Administration, having two toll stations located on the nearly 100km expressway was not necessary. The elimination of the Dai Xuyen toll station will help vehicles travel faster. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 26 December 2016

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

Cen Group and Times Garden Vietnam sign partnership agreement Thoi Dai

On December 15th, Cengroup and Times Garden Vietnam signed a strategic partnership agreement in Hanoi. The first joint project of these two companies is Times Garden Halong in Quang Ninh Province. The project will be constructed by Hoa Binh Corporation. Tourism - resort properties: Safe and effective investment in 2017

Times Garden Halong in Quang Ninh Province

Cafef

Danang condotel market is the most attractive market with over 2,800 units launched for sale in three recent months, two-fold higher than that of Q2-2016, eight-fold higher year-on-year, increasing total supply over 9 months of 2016 to 5,700 units. Because of the increase of tourists, Danang real estate market will earn a lot of Tourism - resort properties: Safe and effective investment in benefit from the city’s modern development. 2017 Jubilant Gelexia Riverside project sale opening ceremony Kinh Doanh

A sale opening ceremony with the topic “Welcome X’mas with Gelexia Riverside galaxy” co-held by Phu Quy Land and main investor - HTL-Geleximco has taken place at Geleximco building, 36 Hoang Cau, Dong Da, Hanoi. The complex consists of 4 blocks including CT1, CT2A, CT2B and CT3. The block CT2B is situated at the center of the Gelexia Riverside project, the most prime location of the project with one side facing Gamuda urban area and one side directing the Hoang Mai district lake conditioning system and the center of the project. Real estate market to lose growth momentum Vfpress

The HCMC real estate market in four upcoming quarters will see 40,000 apartments launched for sale. Aside from too abundant property product supply, another worrisome matter is that banking credit for property projects is also tightened: “With gradually limited credit support in real estate market, property investors have to seek other channels to mobilize capital”. Vietnamese enterprises are optimistic about “global playground” Phap Luat Vietnam

According to VNR500, a lot of Vietnamese names get in the top of the chart. In the future, top 10 are considered to develop stably in the difficult market now. Besides, the companies are really optimistic about their business in 2017. It is anticipated that M&A will be a big deal next year. Firms can use M&A channel to mobilize capital and expand its market. The experts also appreciate intentions to invest in foreign countries, especially developing Asian area. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 27 December 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.

Attractive promotions at the introduction ceremony of Sun Grand City Thuy Khue Residence Thoi Dai Located in an ideal location in-between two “green lungs” of Hanoi – Ho Tay and Bach Thao, the high-end apartment complex Sun Grand City Thuy Khue Residence is a rare project which possesses both greenery and high-class lifestyle in the golden land lot in Ho Tay District. Capella’s current position Thanh Nien Capella has expansion target of at least 3-5 locations for entertainment services, F&B and convention halls in 2017. On the occasion of 10th anniversary, Capella offers many policies up to 45pct for 30 final high-end apartments at The One Saigon. The project has convenient and elegant living space.

Sun Grand City Thuy Khue Residence

The One Saigon apartment

Gathering year-end money, property developers mass launch promotions Bao Hom Nay Hanoi real estate market is in the last marathon at year-end. The market sees 13,000 new apartments launched for sale in Q4-2016, with noticeable projects such as Vinhomes Metropolis, Vinhomes Tran Duy Hung, Sun Grand City and Riveria Park. Hanoi real estate market records 8,016 new apartments from 23 projects, of which 13 projects are completely new and 10 are in next sales phase. The new supply of mid-end segment occupies the highest rate of 68pct. Hong Kong property giants dodge tax Cafeland The billionaire Edwin Leong, one of Hong Kong’s largest property retailers and his family have managed to dodge the government’s attempt to control property pricing, and saved nearly US$17bln tax in his latest transaction. “This is clearly a loophole for tax-dodgers. The government did not thought of this when announced new policy”, said Raymond Yeung, Senior Economist at ANZ Bank. Low-cost housing trend The Saigon Times Vingroup - a renowned property developer with high-end housing and resort projects has recently announced to join the affordable housing segment, attracting attention of home-buyers and other property firms. Many people expect that this information will simulate a race of investment in the segment, serving the real demand of people.

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Daily Real Estate News Highlights Vietnam - 28 December 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.

Compound Valora Camellia heats up the South Saigon market Tuoi Tre 2016 has witnessed the rise of compound villas with many investors entering this market. There is a trend to try to escape from downtown and its heavy pollution. This might be a reason to choose a villa compound instead of an apartment. Valora Fuji of Nam Long attracts Valora Fuji of Nam Long attracts a lot of attention. It has a good location, new modern minimalistic a lot of attention designs and excellent management. The standard of the villas and facilities make it a genuinely good place to live. Introducing the highest tower of Feliz en Vista VnExpress The investor CapitaLand – Thien will introduce the Alaz tower with many premium utilities, which is considered as the highlight of the whole Feliz en Vista project in January 2017. At present, the project Feliz en Vista is distributed by renowned property distributors such as Seareal, G5, T&A, etc. Ocean Dunes - Hotspot of year-end resort properties in 2016 Cafef Boutique Hotel Ocean Dunes covers 140 square meters, and comprises of 100pct sea-view products from only VND2bln. Customers can possesses a 3-star hotel model with 3-7 floors and around 30 rooms together with the commercial floor below, so that they can increase annual profits by VND4-6bln with an occupancy rate of 60pct. Pay 20pct to receive high-end apartments at Dragon Hill VnExpress Phu Long Company is currently developing Dragon Hill 2 project with apartments measuring 51-94sqm, aiming for youth couples who are seeking a home within an existing residential community that has sufficient services and utilities. Thailand becomes 10th largest investor in Vietnam Saigon Times Daily According to a survey report by researcher Pittaya Suvakunta from Thailand’s Thammasat University, Thailand direct investment into Vietnam has been increasing sharply in recent years. Suvakunta’s report on Thai FDI in Vietnam was circulated at an international conference on Vietnam studies held in Hanoi recently. Many Thai firms have plans at hand to expand their Vietnam operations. For example, CP will spend US$150-200 million building a fish feed processing plant, and a processed chicken and cold storage plant in Vietnam. Meanwhile, Siam Cement Group (SCG) is also seeking additional funds to increase investment in the domestic market and Southeast Asia. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 29 December 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: Which project near Sword Lake is the best? An Ninh Thu Do High-end apartment segment have returned to the Hanoi real estate market since Q2-2016, and increased sharply in Q3-2016. Even though the prices are up to 2.6pct year-on-year. The rate of successful transactions is positive, especially at new projects. Among these projects, Sun Grand City Ancora Residence of Sun Group is sought after by investors because of having the ideal factors for a convenient and high-level lifestyle in Hanoi. Eco-villas in outskirt prosper Khoa Hoc Pho Thong The trend to buy resort villas in the outskirts of major cities such as Hanoi and HCMC has risen in recent times. Catching up with the trend, many property investors are seeking such attractive projects. In mid-November 2016, Cat Tuong Duc Hoa launched the 4th sale of the trade-service and eco-tourism township Cat Tuong Phu Sinh – Phase One. After the first day of sale, 100pct of villas and land lots were sold out.

Sun Grand City Ancora Residence

Eco-villas in outskirt prosper

Japanese investors pour US$100 million into Son Kim Land The Saigon Times Japanese investors will pour US$100 million into Son Kim Land, a Vietnamese real estate firm, through an investment fund called Lemongrass Master Fund. The firm announced that it had completed mobilizing foreign capital for this year. The capital disbursement comes with two phases, with the first tranche of US$46 million disbursed on December 21st at this year and the remainder set for the first quarter of next year. The capital contribution showed the confidence of Japanese investors in the steady development of the company as well as the huge potential of Vietnam’s real estate market in the coming years. Why do the number of new property firms increase sharply in 2016? Vf-press This year property business has seen the highest number of newly-founded companies compared to the previous year, up to 83.9pct. At the workshop “Real estate builds future” held on November 15th, buying power in Vietnam real estate market in one quarter is equivalent to that of Singapore in one year. Nguyen Hoai An, Deputy Head of Research and Consultancy said that real estate market 2016 continues the positive growth of 2015. Multi-house owners won’t be taxed in 2017 Vietnam Investment Review The finance ministry has announced that people who own a house will not have to pay tax for the second house they buy in 2017. Nguyen Van Phung, deputy director of the ministry’s tax policy department said that the issue is still on the table for discussion and while it has been a long-pending proposal, it will not happen this year. The idea of taxing multi-house owners is a matter of concern for many Vietnamese citizens. For market research reports, please visit our website at www.colliers.com

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Daily Real Estate News Highlights Vietnam - 30 December 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.

Serenity Sky Villas provides a new direction for elite lifestyle Vietnam Investment Review

While there is no shortage of upscale villa projects for the elite in Vietnam, SonKim Land is the first developer to introduce sky villas in the heart of Saigon, where the space and grandeur of traditional villa housing meets the stunning panoramas and downtown location of a cosmopolitan penthouse. The new Serenity Sky Villas are a beautiful introduction to this concept. Hanoi: Hoang Mai district voters annoyed with land use permit delays

Serenity Sky Villas

VOV

Regarding construction orders in 2016, there are nearly 20 realty projects put under investigation in Hoang Mai district such as Ao Mo, Gamuda, Quang Trung general hospital, Sky Garden, especially Muong Thanh’s project at Hoang Liet ward and Kim Van – Kim Lu of Dai Kim ward. The city sent all the documents of violations to police for further investigation. Price of land on the rise in HCM City

Kim Van – Kim Lu apartment

Bizhub

Land prices in HCM City and neighbouring provinces are increasing, with real estate industry insiders attributing it to high liquidity. Nguyen Quoc Anh, deputy director of Dai Viet Group said that prices have been rising in all districts in the city since the end of last year. Foreign capital flooded into the stock Tien Phong

According to Mr. Vu Bang, there are a lot of challenges for Vietnam share market in 2016. In October and November, foreign investors sold quickly all Vietnamese stocks but they are increasing slightly in December. Moreover, Brexit and American election affects a lot on Vietnamese shares. Vietnam also mobilized a huge amount of money from divestment. After Vinamilk business, the government also earned USD 500 million. In 2017, the state will be busy with many economical gaps. Hi-tech agriculture: leaders appeared Saigon Giai Phong

Billions of dollars in high-tech investments are flowing into Vietnam’s agricultural sector, hoping to dramatically change the way food is grown, harvested, and produced. According to the Ministry of Agriculture and Rural Development, Thaco one among nearly 30 local enterprises that have plans for major agricultural projects in Vietnam next year with the total investments that could amount to billions of dollars. The enterprises include Hoa Phat, T&T, FPT, Tonkin Investment, Otran Vietnam, BAC A BANK, Trung Thanh, Bui Van Ngo Company, Nafoods, FLC, Viettel, Vingroup, Minh Phu, Quang Minh, and Vinamit. For market research reports, please visit our website at www.colliers.com

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