Daily Real Estate News Highlights

Vietnam - 08 May 2023

Top Daily Updated Real Estate News

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

Colliers News

let land bank, legal and capital ruin

of developing affordable houses" - CEO,

(Vietnam)

www.cafef.vnt

The development of affordable and social housing requires efforts from both public & private sectors. Although businesses have shown their willingness to build, yet according to Mr. David Jackson, CEO, Colliers (Vietnam), there remain many obstacles slowing down new supplies.

BYD to make electric vehicles in Vietnam in Southeast Asia Push

www.bloomberg.com

BYD Co. plans to produce electric vehicles in Vietnam and expects support from the country’s government to do so, the Southeast Asian nation said following a May 5 meeting between Deputy Premier Tran Hong Ha and the automaker’s chairman and founder, Wang Chuanfu.

District-level People's Committee to approve land prices

www.vneconomy.vn

District-level People's Committees are now allowed to decide the price to compensate for land acquisition; collect land use fee for resettlement; calculate land use fee and rent, etc.

Apple supplier Quanta Computer okayed for first plant in Vietnamt

www.theinvestor.vn

Nam Dinh has granted an investment certificate for Apple supplier Quanta Computer to build a $120 million factory in the northern province, the giant's first in Vietnam and its ninth worldwide.

Vietnam - 09 May 2023

Top Daily Updated Real Estate News

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

Colliers News

Lack of schools in urban areas and IPs

www.reatimes.vn

"Settling down" seems hard to achieve for both corporates and workers due to the lack of social infrastructure in IPs, especially housing and educational facilities. Regarding solutions, Mr. David Jackson, CEO, Colliers (Vietnam) assessed that this is a big challenge faced by the planners, developers and authorities in order to maintain investment momentum for the Vietnam industrial real estate in the long term.

Eurowindow to build $339 mln urban area in Thai Binh province

www.theinvestor.vn

Three subsidiaries of Eurowindow, Vietnam's leading producer of building materials, have registered to build a VND7.96 trillion ($339 million) urban area project in Thai Binh province, northern Vietnam.

Foxconn purchased massive plots of land in India & Vietnam for new factories

www.appleinsider.com

Foxconn is expanding its production in India and Vietnam, with the Apple assembly partner acquiring large stretches of land in both countries. In Vietnam, another unit of the company was in the middle of acquiring land use rights to a site in Nghe An province. That site is said to be 480,000 square meters in size, or 5.16 million square foot.

Construction of first VSIP industrial park in Mekong Delta to commence in June

www.theinvestor.vn

Can Tho city is aiming to kick off construction of the VSIP Vinh Thanh Industrial Park project by June. The 293.7-hectare IP, with an investment of VND3.72 trillion ($158.55 million), will be operated by VSIP Group, a joint venture between Sembcorp and Becamex, a major Vietnamese industrial developer.

Vietnam - 10 May 2023

Top Daily Updated Real Estate News

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

Colliers News

M&A to pick up in property market

www.vietnamnews.vn

Domestic property developers are looking to sell assets and shares to deal with debts, restructure, maintain cash flow and keep operations going. Meanwhile, experts assess that foreign investors have been active and this could ignite a much-needed boost to the market to speed up its recovery.

Many developers suddenly raise brokerage fees

www.zingnews.vn

Real estate developers offer attractive commission rate such as marketing fee, brokerage fee and hot bonus as many exchanges closed and realty agents quit their jobs in bulk. The move was made in an effort to warm up the market.

Confirmed 4.8%/year for interest rates of social housing loans

www.thanhnien.vn

An offical decision has been made on the preferential lending interest rate applied to loans with outstanding balances to buy, rent-purchase social housing, and build new or renovate and repair residential houses.

Status of condotel ownership may require further direction

www.vir.com.vn

Although a new decree will allow the issuing of ownership certificates to condotels, experts say the regulations will still be inadequate and need to be supplemented in the near future to create a good enough legal corridor for the thousands of condotels in the market.

UOB Keeps Most Citi Staff After Southeast Asia Retail Buyout

www.bloomberg.com

United Overseas Bank Ltd. will keep most of Citigroup Inc.’s employees after buying the US bank’s consumer assets in Indonesia, Malaysia, Thailand and Vietnam.

Vietnam - 11 May 2023

Top Daily Updated Real Estate News

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

"Underwater waves" in retail spaces

www.vnbusiness.vn

Parkson leaving Vietnam is a costly lesson in the race for market shares in retail spaces. Ms. Trang Do, Manager of Retail Services, Colliers (Vietnam) said that the retail market is attractive but more fierce as international brands continue to expand in Vietnam. The competition is getting intense, and industry player who change slowly will lose the game.

Hanoi maps out key infrastructure projects

www.english.thesaigontimes.vn

The Hanoi City administration is seeking to finish work on two beltway projects, complete its centripetal expressway system and build an express rail link between the city and the north-central province of Nghe An.

Rights and responsibilities of consulting organizations in charge of determining land prices www.laodong.vn

Article 116 of the 2013 Land Law clearly stipulates the rights and obligations of organizations with the function of consulting and determining land prices.

A series of real estate projects in Long An forced to terminate

www.phunuonline.com.vn

The People's Committee of Duc Hoa district, Long An province has just issued a series of decisions on terminating the implementation of decisions approving planning projects for a series of real estate projects in the area. Some projects to mention are detailed construction planning project of 1/500 scale of residential area in Duc Hoa Ha commune; a commercial residential project, with an area of 14 ha; Residential Project Duong Gia Thinh – Hiep Hoa, with an area of 13.4 ha, etc.

Vietnam - 12 May 2023

Top Daily Updated Real Estate News

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

Rents of coastal apartment increase sharply

www.laodong.vn

With tourism recovering, rents of coastal apartments at resorts are thriving again with high occupancy rates. David Jackson - CEO of Colliers Vietnam - stated that the recovery momentum of the serviced apartment market in Q1/2023 is quite optimistic in the context of facing difficulties in liquidity.

Apple to open first online shop in Vietnam in a push to emerging market

www.reuters.com

Apple (AAPL.O) said on Friday it would open its first online store in Vietnam next week, as the iPhone vendor doubles down on emerging markets to drive growth amid slowing sales in China. The opening on May 18 comes just weeks after the Cupertino, California-based company opened its first Apple stores in India - Mumbai and Delhi.

Thanh Hoa auctions the golden land to build a hypermarket

www.thesaigontimes.vn

With a total investment capital of about 190 million USD, Aeon Mall Thanh Hoa is expected to start construction in early 2022, but is 18 months behind schedule. The project has just been restarted by the Provincial People's Committee and is completing the construction procedures in the fourth quarter of 2023.

Japfa Vietnam inaugurates 2 factories in Binh Phuoc

www.vnexpress.net

Japfa Vietnam held the inauguration ceremony of Binh Phuoc feed mill and slaughterhouse at Minh Hung Sikico industrial park, Hon Quan district, Binh Phuoc, on May 10. As one of the most modern projects of Japfa Vietnam, the first phase of the feed mill will produce 240,000 tons a year with an investment of nearly 400 billion VND.

Vietnam - 15 May 2023

Top Daily Updated Real Estate News

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

Social housing getting heated in large suburb residential areas

www.cafef.vn

Developing social housing is not easy, but the market is showing positive signs with supporting policies and the developers' active moves. Thanks to rapid urbanization, satelite localities will become new destinations for real estate investment and development, including affordable housing and social housing due to the abundant land fund and many investment incentives.

Kido Group to take over Parkson Hung Vuong

www.zingnews.vn

Kido is currently completing procedures to increase its ownership rate to 76%. In which, Kido Group will buy 32% shares from partners, including Vinacapital. The agreement between the two parties has almost been completed, Kido will have full control over this shopping mall in August. This project will have 7 floors with a commercial floor area of 30,000 sqm, total investment is 200 billion VND.

Vietnam's largest non-tariff hub breaks ground in Hai Phong

www.e.vnexpress.net

Construction of a VND11.1 trillion ($473.15 million) non-tariff logistics and industrial zone in the northern city of Hai Phong began Saturday. The project covers 752 hectares in Dinh Vu – Cat Hai economic zone. About 370 hectares of the area is earmarked for manufacturing and the rest for warehouses and logistics facilities.

Long An calls for investors to build urban area

www.en.vneconomy.vn

Long An is calling for investors to build the Thanh Phu - Tan Buu residential area in Ben Luc district. Total investment is estimated at over VND6.16 trillion ($260 million). The project will cover an area of 143.79 ha with 240 adjacent houses, 170 commercial houses, and 244 villas.

Vietnam - 16 May 2023

Top Daily Updated Real Estate News

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

Colliers News

Office rankings help increase market transparency

www.e.vnexpress.net

The ranking of office buildings will improve the quality of buildings and help tenants to evaluate properties accurately, ensuring reasonable rents for each segment. According to Colliers, in 2022-2023, the number of green buildings in the Asia-Pacific region will increase by 22%. By 2030, it is expected that up to 42% of buildings will be greened.

HCMC to grant 81,000 pink books in 300 projects

www.nld.com.vn

HCMC Department of Natural Resources and Environment has divided 300 commercial housing projects into 6 groups to remove difficulties and speed up the process of granting pink books. In which, identifying specific timelines to issue pink books for about 81,000 houses.

No VAT reduction for real estates and stocks

www.tuoitre.vn

The Government has just submitted a report to the National Assembly on continuing to reduce VAT by 2% under Resolution 43/2022. Accordingly, this tax reduction will not apply to groups of goods such as telecommunications, IT, finance, banking, securities, insurance, real estate, metals, and metal products, prefabricated products, mining products, refined petroleum products, chemical products, and goods subject to excise tax.

HCMC aims to convert 648ha of non-agricultural land to residential land

www.vneconomy.vn

Information on the approval of the land use plan for the period 2021-2025 in the HCMC has just been submitted by the Department of Natural Resources and Environment to the City People's Committee. Regarding the plan to change the land use purpose, HCMC set the target of converting 9,867 hectares of agricultural land to non-agricultural land; changing the structure of using 4,480 hectares of land within agricultural land; converting 684 hectares of non-agricultural land to residential land.