Monthly Real Estate News | July 2021 by Vietnam Realty

Vietnam Monthly Real Estate News July 2021

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Daily Real Estate News Highlights Top 5 - 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

Real estate decelerates, is there a chance to recover at the end of the year? www.vietnambiz.vn Land plot is no longer in the favorite list of investors after the fever cooled down. According to Colliers Vietnam's statistics, in May 2021, the amount of query information about land plots has decreased by 15-20% compared to the previous month. Colliers Vietnam said that land plots were being seriously affected by the COVID-19 pandemic and in the next 6 months, it would be difficult for this segment to return to as bustling as before. Meanwhile, there were many concerns about the resilience of real estate enterprises with lack of capital, inventory, high debt, etc. Cash flow was now considered a vital factor because the end of the year was usually the time when investors needed a large source of money.

Real estate transactions are having a hard time

USAID Partners with Danang City Government to Accelerate Renewable Energy and Energy Efficiency Solutions www.vietnaminssider.vn The U.S. Agency for International Development (USAID) and Danang City People’s Committee have just launched the project of promoting urban energy security in Danang, according to U.S. Embassy Hanoi. USAID Vietnam Urban Energy Security is a four-year (2019-2023), 14 million USD project to promote deployment of advanced, distributed energy solutions in urban areas in Danang and Ho Chi Minh City.

USAID Facilitates Private Sector Investment in Solar Energy

Korean investors establish alliance to develop smart city tech for Vietnam www.vir.com.vn Three Korean companies have teamed up to develop a smart city system to manage future urban growth in Vietnam, based on Daewoo E&C’s plan for the Starlake City project in Hanoi. Daewoo E&C Vina has signed a strategic partnership with SparkLabs Korea and Bespin Global to collectively build a smart city platform in Vietnam.

International investors scoop up major stakes in drugmakers www.vir.com.vn Dealmaking and investment in pharmaceutical and healthcare businesses are increasing in scope as investors are vying for the controlling stake of key players. SK Investment Vina III Pte., Ltd., a subsidiary of South Korea’s third-largest conglomerate SK Group, has increasingly raised its ownership at Imexpharm Pharmaceutical JSC. According to information revealed by Imexpharm, SK Investment will spend an additional $430,000 to increase its ownership at the drugmaker to 30.70 per cent. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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

Mid-range apartments are still a “bright spot” during the pandemic season www.cafef.vn According to Mr. David Jackson, CEO of Colliers Vietnam, preserving the cash flow of buyers because of the pandemic is only a temporary phenomenon. In the long term, with great development potential and strong growth momentum, real estate is still a potential market with high profitability, attractive to domestic investors. Assessing the demand of the apartment segment in the suburbs of Ho Chi Minh City such as Binh Chanh, Binh Tan, Nha Be in the near future, Colliers Vietnam expert emphasized, Binh Chanh and Binh Tan areas are gateways to connect Ho Chi Minh City with the Southwest region. Apartment prices in this area have been relatively stable in recent years. This is also an area with great real demand with a large population.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

WHA Group targets Thanh Hoa province for two new IZs www.vir.com.vn Thailand-based WHA Group, a specialist developer of logistics facilities and industrial estates, sits in good stead for a strong 2021 after plans moved ahead for the launch of two new industrial zones in the north-central province of Thanh Hoa. The first investors have already started setting up operations at WHA Industrial Zone 1 – Nghe An, launched just three years ago in the central province of Nghe An.

WHA Industrial Zone 1, Nghe An

Vietcombank sponsors $1.2 billion for Quảng Trạch 1 thermal power project www.vietnamnews.vn The Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) committed to finance credit worth VNĐ27.1 trillion (US$1.18 billion) for the Quảng Trạch 1 thermal power plant project. Việt Nam Electricity (EVN) and Vietcombank held a signing ceremony for a comprehensive co-operation agreement and financial credit contract supporting Quảng Trạch 1 thermal power plant project in Hà Nội on Wednesday.

5.46% in 1st half despite COVID

www.vietnamnews.vn Despite being hit hard by the COVID-19 pandemic, HCM City’s economy grew by 5.46 per cent in the first half of the year, according to the city Statistics Office. The outbreak has affected the growth of many industries, but smart growth by the services sector made up for the declines in others. It grew by 5.86 per cent year-on-year, with the commercial sector growing at 6.01 per cent, transportation and warehousing at 5.73 per cent, and finance, banking and insurance at 8.22 per cent. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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

Surfing the land plots, investors "exhaustedly" manage money to pay bank interest www.reatimes.vn Mr. David Jackson, CEO of Colliers Vietnam, predicted that in the next 6 months, it would be difficult for the land plot segment to return to its heyday. Even if the pandemic was under control, investors would not rush to return to the land plot segment anytime soon because cautious sentiment tended to lead the market. According to Mr. Jackson, in such a context, before deciding to invest, investors needed to know about their own cash flow, risk scheme and liquidity. Even if they wished to "surf" to make a profit that was not too high in a short time, having a suitable reserve was still very important, in case they could not find a real estate buyer.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Over $970 million poured into IPs in Quảng Ninh www.vietnamnews.vn Industrial parks (IPs) and economic zones in the northern province of Quảng Ninh have so far attracted more than VNĐ22.4 trillion (US$970 million) in the first six months of 2021. Quảng Ninh has granted new investment licences to five foreign-invested projects worth $567.5 million, and four domestic projects valued at VNĐ8.6 trillion.

Over $970 million poured into IPs

Construction on second metro line to begin in late 2021 www.vietnamnews.vn Land acquisition, compensation payments and resettlement for affected households should be completed by the end of July so that construction on HCM City’s second metro line can begin, city officials have said. The Metro Line No 2 will connect Bến Thanh Market in District 1 and Tham Lương Depot in District 12. Bùi Xuân Cường, head of HCM City Urban Railway Management Board (MAUR), said that construction of the metro line No 2 would start at the end of the year. Nearly 99 per cent of site clearance has been completed in districts 10 and Tân Bình. Site clearance for the line has reached 78.61 per cent, with 474 out of 603 affected households already vacating their lands, according to MAUR.

Real estate and construction industry can no longer ignore digital transformation

www.vietnaminsider.vn The impact of location on the property price, the complicated legal procedures and the lack of transparency in the constructional and operational process are three factors that slowing down the digital transformation in the real estate and construction industry in Vietnam, according to Mr Chu Quang Thai – Digital asset project development specialist, South office of the National Startup Support Center – Ministry of Science and Technology. As the digital revolution brings sweeping change across nearly every industry, the real estate and construction industry has been slow to move with the times, until now. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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

What's the difference between 'Home for Home' and the traditional house changing method? www.thanhnien.vn While the market still has many doubts about the “smart home changing” solution, there are customers who use “Home for Home” as a lever to reduce the financial burden in the process of home improvement. Mr. David Jackson, CEO of Colliers Vietnam, said that this home-changing solution was aimed at people with collateral, high and stable income. By participating in this program, customers were considering buying a second property. When there was a need to borrow, customers would be assessed by banks for their financial capacity very carefully, so the possibility of risk was almost non-existent.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Vietnam's largest cosmetics retailer HSV Group secures investment from Mekong Capital www.vir.com.vn Mekong Capital announced that Mekong Enterprise Fund IV (MEF IV) has completed an investment into HSV Group, which is the cosmetics retailer in Vietnam with the highest number of stores. As of June 30, HSV Group operated 105 stores. Established in 2005 as the exclusive distributor of The Face Shop (a cosmetics brand from LG Cosmetics), 12 years later, HSV Group has become the non-exclusive distributor of the sportswear brand Adidas and the exclusive distributor of Reebok products.

A view of the Mong Duong thermal power plant in Cam Pha City, Quang Ninh Province. The province is calling for investment in an LNG-fired power plant with a total cost of US$2 billion

Samsung and Bắc Ninh to implement dual goals www.vietnamnews.vn Samsung Vietnam and Bắc Ninh Province’s People's Committee on Monday officially kicked off phase 1 of the Việt Nam Enterprise Improvement Consultancy Project in 2021. The project will be implemented at two enterprises including Hanpo Vina Joint Stock Company and Thịnh Vượng Manufacturing Servicing Trading Company Limited.

Quang Ninh calls for investment in US$2-billion LNG power plant

www.thesaigontimes.vn The northern province of Quang Ninh is calling for investment in a liquefied natural gas (LNG)-fired power plant project in Cam Pha City, with total capital of VND47.5 trillion, or some US$2 billion. The plant project is set to be located in Bai Tu Long Bay in Cam Thanh Ward and have a capacity of 1,500 megawatts, according to the provincial government. Some 55.9 hectares in the ward have been planned for the construction of the project, with over 42 hectares of land and 13.4 hectares of water surface, the local media reported. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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 in Industrial Park & Logistic: Attraction from profit www.nhipcaudautu.vn It can be seen that the global pandemic gives enterprises more impetus to implement the China Plus One strategy. Opportunities to access new markets, rising costs in China, diversification of risks and tax incentives are some of the reasons for China-based companies to adopt a new business strategy. According to Colliers International, Vietnam is among the emerging markets (in the same group as India, Indonesia, Thailand and the Philippines) that have become an attractive destination for the manufacturing industry. As a result, the industrial real estate sector will continue to hold its position as one of the markets with the best development prospects thanks to M&A deals and new supply.

Real Capital Analytics data shows the average global logistics industry yield now stands at 5.8%

Import-export turnover likely to hit US$600 billion this yea www.vov.vn With total import and export turnover of goods surging by 32.2% to US$316.73 billion in the first half of the year, Vietnam is likely to gross US$600 billion in import-export turnover throughout the year, according to industry insiders. Economists have therefore emphasised that the manufacturing and agro-forestry-fisheries sectors are anticipated to become two major pillars for Vietnamese exports moving into the second half of the year.

Import-export turnover likely to hit US$600 billion this year

Vietnam will receive first batch of 80 million Moderna vaccine doses from the US this weekend www.vietnaminsider.vn The Moderna vaccine shipment — part of a first 80 million doses that President Joe Biden has pledged to allocate worldwide — should arrive in Vietnam this weekend, a White House official, who spoke on condition of anonymity, told AFP. “This is just the beginning of doses being shipped to Southeast Asia,” the official said.

Investor favor shifts from land to apartments

www.vnexpress.net Investors are shifting their interest from land to apartments as there are signs that land prices have entered a cooling off phase following a first quarter surge. Searches for land lots in May in the northern provinces of Bac Giang, Bac Ninh, Ha Nam, Vinh Phuc and Quang Ninh fell 35-49 percent from April. In Da Nang City the fall was 36 percent, according to real estate listing platform Batdongsan.com. Meanwhile, searches for apartments in the same period rose in Hanoi and HCMC by 12 percent and 8 percent, respectively. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 - 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

How are young people choosing real estate? www.soha.vn Previously, sharing about the trend to choose houses of young people, Mr. David Jackson, CEO of Colliers Vietnam, said that the previous generation considered housing as a stable value-added asset, so they often tended to choose a townhouse. However, now, when the Millennials (only those born between 1981-1995) became the main workers in society, they got married and had their own housing needs. Criteria for choosing "home" had changed somewhat. According to this expert, in recent years, rapid urbanization had led to an increase in environmental pollution, flooding occurred more often, leading to people's thinking gradually being affected. Therefore, projects with large green areas and regulating lakes gradually showed signs of attracting more residents to live.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Coteccons wins a series of large-scale projects in Q2/2021 www.vir.com.vn Coteccons Construction JSC has received an announcement of bid winning for the Ecopark Swanlake Residences project from the investor Ecopark Group JSC, and a series of new projects spread across the country. With the Ecopark Swanlake Residences project, Coteccons won the bidding by overcoming a good deal of renown domestic and international contractors. With the outstanding success at Rung Co luxury apartment complex, Coteccons has built its reputation and is trusted by the Ecopark Group as the general construction contractor for the design and building of five CT 21-22 towers. Up to now, this is the largest residential project in Vietnam, located in an urban area of nearly 36 hectares.

The super project Ecopark Swanlake Residences

Vietnamese economy to grow to fourth largest in ASEAN www.vnexpress.net The Vietnamese economy is set to grow by between 6% and 6.5% over the next decade, according to experts from DBS Bank, adding that if the country maintains its current trajectory then it will surpass Singapore by 2030. Last year saw the national economy worth US$343 billion compared to Singapore’s US$337.5 billion and Malaysia’s US$336.3 billion, ranking 40th globally and fourth in the Association of Southeast Asian Nations (ASEAN).

colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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

Changing house with Home for Home solution: Is it good or bad? www.vtv.vn While the market still has many doubts about the “smart home changing” solution, there are customers who use “Home for Home” as a lever to reduce the financial burden in the process of home improvement. Mr. David Jackson, CEO of Colliers Vietnam, said that this home-changing solution was aimed at people with collateral, high and stable income. By participating in this program, customers were considering buying a second property. When there was a need to borrow, customers would be assessed by banks for their financial capacity very carefully, so the possibility of risk was almost non-existent.

Model house of Masteri Waterfront project (Gia Lam, Hanoi) - one of three projects applying Home for Home solution.

Novaland raises $300 million with international convertible bonds on Singapore Exchange www.vir.com.vn Novaland (HSX: NVL) has successfully issued $300 million of international convertible bonds to foreign investors without warrants and collateral to be listed on the Singapore Exchange. With a maturity of five years and fixed coupon rate of 5.25 per cent a year, the bonds are convertible into common Novaland shares. The conversion price is VND135,700 ($5.90) per share – 15 per cent higher than the closing price of the company’s shares at the launching date (July 7). The denomination of each bond is $200,000 in principal amount. Credit Suisse (Singapore) Ltd. is the sole global coordinator and sole bookrunner for this transaction. The issuance received great interest from reputable international investors. The order book was multiple times oversubscribed relative to the deal size of $300 million.

The Aqua Marina complex of Aqua City (Bien Hoa, Dong Nai) has a scale of more than 1,000 hectares, one of three key projects of Novaland Group in the 2021-2023 period

Vietnam launches largest-ever COVID-19 vaccination campaign www.vov.vn While The Ministry of Health launched a nine-month COVID-19 vaccination campaign in Hanoi on July 10, aiming to vaccinate 75 million people and achieve herd immunity by early 2022. The campaign, the largest of its kind in the country’s history, will be implemented on a national scale from July 2021 to April 2022, with the support of the Ministry of National Defence, Ministry of Transport, Ministry of Information and Communication, along with other ministries and agencies. The start of the process comes at a time when Vietnam is battling against a fourth wave of the COVID-19 pandemic following a resurgence of the SARS-CoV-2 virus in late April. colliers.com/en-vn

Colliers News Real estate F0 after land fever: Who wins, who loses? www.cafebiz.vn Mr. David Jackson, CEO of Colliers Vietnam pointed out that the gain and loss of F0s in the recent fever depended on the cost of capital and the invested housing segment. The group of F0 investors flocking to hot growth areas, buying at prices that are too high compared to the real value would face difficulties after the fever, especially for those who made hasty decisions in using financial leverage. Meanwhile, the group of F0 investors choosing the segment of land plots in urban areas with complete infrastructure and reasonable prices, would only be slightly shaken when the fever subsides. With this market, land prices still increased by a small margin despite the decrease in transactions

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Why Vietnam ranked among top three most attractive destinations for business expansion in SEA? www.vietnaminsider.vn The survey’s results showed that most of enterprises in the ASEAN are focusing on business opportunities in the region, expecting strong growth in the next 12 months. Singapore became the most attractive expansion destination with 80 percent of surveyed firms saying they are centering their production and business expansion in the country, followed by Thailand with 60 percent, and Vietnam with 50 percent.

VinGroup’s Landmark 81 in Saigon

E-commerce platforms to be connected with tax agencies from next year www.vov.vn E-commerce platforms must be electronically connected with tax management agencies from the beginning of next year, not from next month, as the tax watchdog aims to better collect taxes from sellers operating on the platforms. The deadline delay was part of a roadmap recently issued by the General Department of Taxation to implement Circular No 40/2021/TT-BTC issued on June 1 and taking effect from the beginning of August about value-added tax, personal income tax and tax management of individual sellers. Under the circular, e-commerce platforms would be responsible for sellers' tax declarations and payments, provisions that have received complaints about their reasonableness and consistency with established tax regulations. The circular also dictated that e-commerce platforms must provide information on sellers, including revenue, banking accounts and products, to tax management agencies to aid tax collection.

colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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 Telling on COVID-19, the real estate market has a "loss cutting" phenomenon www.cafef.vn In the midst of the storm of the fourth outbreak of the COVID-19 pandemic in the market, there is a wave of loss-cutting in some segments such as apartments, condotels, even land plots. Mr. David Jackson, CEO of Colliers Vietnam, assessed that the outbreak of the pandemic in late April and early May had profound impacts, seriously affecting the real estate market, and if the Covid-19 pandemic lasted for a while longer, many investors who used financial leverage or had poor cash flow balance might create a wave of loss-cutting in the market.

Telling on COVID-19, the real estate market has a "loss cutting" phenomenon

Investors proposes $4.59 billion Vung Ang III plant www.vir.com.vn The joint venture of Siemens Energy, KG Electric Power Corporation, and Power Engineering Consulting JSC 2 (PECC2) proposed to develop the $4.59 billion Vung Ang III Thermal Power Plant. The thermal power plant is expected to be located in Vung Ang Economic Zone of the central province of Ha Tinh with a capacity of 3.2GW that will be expanded to 4.8GW. The facility will import 2.2 million tonnes of liquefied natural gas (LNG) per year. The construction is expected to be completed in 2026-2027. According to Ha Tinh People’s Committee, in April, the investor held a working session with the provincial leaders and present the pre-feasibility report of the project.

Vung Ang III Thermal Power Plant will be completed in 2026-2027

Quang Ninh discloses criteria for $2 billion LNG power project www.vir.com.vn Along with the criteria on financial potential and experience, investors looking to develop the $2 billion Quang Ninh liquefied natural gas (LNG) power project will have to comply with 10 other criteria. Quang Ninh Department of Planning and Investment issued the selection criteria for the investor of the LNG project. Notably, the investor will need to have a minimum equity of no less than 15 per cent of the project’s total investment value ($300 million at the current valuation of the project). In case the investor is a joint venture, the joint venture’s equity must be equal to the total equity of the investors joining the consortium. If any member of the consortium fails to comply, the joint venture will be assessed as not meeting the equity requirement. The leading investor in the consortium must have a minimum capital ownership ratio of at least 30 per cent and the remaining members must have a minimum equity ratio of 15 per cent each in the consortium.

colliers.com/en-vn

Colliers News The pressure to reduce real estate prices is getting stronger www.vnexpress.net Mr. David Jackson, CEO of Colliers Vietnam forecast, if Covid-19 lasted for a few more weeks, many investors using financial leverage or poor cash flow balance might have to sell off to cut loss. According to Mr. David Jackson, in the remaining months of 2021, people and enterprises were still prioritizing supportive measures despite market sentiment and expectations of the vaccination campaign. However, the Covid-19 pandemic had had a great impact on the incomes of people and enterprises, and it took more time for the general sentiment of the market to return to its pre-pandemic state.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

Investment opportunities: Hotels are being sold in large numbers across Vietnam www.vietnaminsider.vn Many hotels put up for sale across the country as owners suffer big losses caused by the shortage of customers due to the latest wave of Covid-19. According to our research, hundreds of hotels for sale could be seen in Ha Long, Nha Trang, Da Nang, Ho Chi Minh City, and other places as the pandemic continues to decimate the hospitality industry.

The local tourism has been heavily hurt. Hotels by the beach receive a few guestsyear

Hanoi house owners live in rentals to lease out properties for profit www.vir.com.vn Even though he has invested in real estate for more than 10 years and owns houses from the north to the south of Vietnam, Nguyen Kien still lives in a rented house in Hanoi's Cau Giay District. As renting a house is increasingly common among millennials, more and more rental opportunities have popped up. Kien and his wife lived in a villa they own in Linh Dam area, Hoang Mai District, southern Hanoi, three years ago but then rented it out and decided to live in a rented apartment in Cau Giay at a cost cheaper than they charge their tenants.

Banks agree to cut lending rates to support hard-hit businesses

www.vietnamnews.vn Most banks have agreed to cut the lending rate for enterprises hard hit by the COVID-19 pandemic from this month until the end of this year. This consensus was reached during a meeting of 16 banks with the State Bank of Việt Nam on Monday.

colliers.com/en-vn

Colliers News The real estate market is quiet in the second half of this year www.cafedautu.vn “It will be difficult for breakthrough changes in the remaining months of 2021 in the context that people and enterprises are still prioritizing supportive measures, although the market sentiment is still quite good and the large-scale Covid-19 vaccination campaign is being implemented. The Covid-19 pandemic has had a great impact on the incomes of people and enterprises, and it takes time for customers as well as the general sentiment of the market to return to the pre-pandemic state,” said Mr. David Jackson, CEO of Colliers Vietnam. However, the representative of Colliers Vietnam said that this was a good time for enterprises to re-evaluate their business plans and quickly seize opportunities when the pandemic passed.

The real estate market is quiet in the second half of this year

Two more Metro Line 1 trains docked at Khanh Hoi Port in Ho Chi Minh City www.vir.com.vn The sixth and seventh trains of Ben Thanh-Suoi Tien Metro Line 1 have successfully arrived at Khanh Hoi Port. The two trains are among a total of 17 trains of Metro Line 1 transported from Japan to Ho Chi Minh City. The two trains are among a total of 17 trains of Metro Line 1 transported from Japan to Ho Chi Minh City. After completing construction and installation, the project will move to the stage of testing and operation with the new trains.

The trains of Ben Thanh-Suoi Tien Metro Line 1 were unloaded at Khanh Hoi Port

Tax watchdog aims to better manage real estate tax transactions www.vir.com.vn Tax authorities are aiming to improve tax management of property transactions to prevent tax avoidance and increase State budget collection. The General Department of Taxation under the Ministry of Finance asked local tax departments to focus on inspecting tax declaration documents from enterprises and individuals involved in real estate to identify those who at high risk of tax avoidance so inspections can be carried out.

Businesses strive to maintain production amid lockdown in HCM City

www.vietnamnews.vn When HCM City went into lockdown under Government Directive 16 on July 9, many businesses and manufacturers prepared plans to set up temporary accommodations for their workers to avoid the spread of coronavirus and maintain production. Hoàng Minh Anh Tú, general director of the Alta Group, told Tuổi Trẻ (Youth) newspaper that the business rearranged the factory’s premises in order to set up about 100 tents. Besides preparing meals, the company also has separate living quarters for male and female employees. colliers.com/en-vn

Colliers News Real estate is difficult to recover at the end of the year, investors cautiously put money down www.vietnambiz.vn Mr. David Jackson, CEO of Colliers Vietnam said that the real estate market in the second half of 2021 depended greatly on the situation of pandemic control and vaccination progress, especially the resort real estate segment. Real estate buyers would be much more cautious, and actual transactions had also plummeted, making it more difficult for developers. According to Mr. David Jackson, in the coming time, investment capital would not only flow into coastal resort real estate but also into mountainous areas. In addition, the trend of “leaving the city to come to countryside” was gradually heating up, making resort farmland in the suburbs to be hunted. This expert predicted that many localities would continue to receive a lot of attention from investors who wanted to develop the farmstay model, such as Lam Dong, Ba Ria - Vung Tau, Binh Duong, Dong Nai, Long An, Binh Thuan or some suburban districts of Ho Chi Minh City such as Cu Chi.

The scenario of the real estate market in the second half of the year depends on the situation of controlling the COVID-19 epidemic.

Việt Nam authorises single-dose J&J Janssen COVID-19 vaccine for emergency use www.vietnamnews.vn The Vietnamese health ministry has given conditional approval for the Johnson & Johnson single-dose COVID-19 vaccine to be used in emergency in the country. Janssen is the sixth COVID-19 vaccine to be given authorisation for use in Việt Nam so far, following Oxford/Astra Zeneca, Sputnik V, Pfizer/BioNTech, Sinopharm’s Vero Cell and Moderna.

Industrial production shores up post-pandemic prospects

www.vietnamnews.vn Despite enormous difficulties remaining due to the COVID-19 crisis causing disruptions in supply chains, domestic industrial production has continued bouncing back, promising a brighter picture for economic growth. Having been operating in Hanoi for 13 years, Japanese-backed Walcom Industry in Hanoi last December had to halt imports of components and materials from Japan and a number of other overseas markets where production and supply chains were disrupted by COVID-19.

Trung Lương-Mỹ Thuận Expressway to open to traffic in November

www.vietnamnews.vn The Trung Lương-Mỹ Thuận Expressway project will open to traffic in November after more than a decade of construction, according to Đèo Cả Investment JSC, the project’s main contractor. Hồ Minh Hoàng, the company’s chairman of the Board of Directors, said the company has urged contractors, construction units, officials, engineers and workers to speed up construction work. Despite the difficulties caused by the COVID-19 pandemic, the company is working hard to ensure the expressway opens as scheduled. colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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 Cash still turns into real estate www.baodautu.vn Giving comments on the market in the second half of the year, Mr. David Jackson, CEO of Colliers Vietnam assessed that macroeconomic stability and economic growth in the last months of 2021 would depend heavily on control. Covid-19 success. Therefore, it was still quite early to make a forecast for the real estate market situation in the last months of 2021. “I think it will be difficult for breakthrough changes in the remaining months of 2021 in the context that people and enterprises are still prioritizing supportive measures even though market sentiment is still quite good and a large-scale vaccination campaign is underway,” said Mr. David Jackson.

Despite being affected by the pandemic, the real estate market still receives large investment cash flows

Real estate market on firm basis in first half www.vir.com.vn Moves to slow the damage being done by the pandemic and curb resulting land fever issues have helped keep the fortunes of the domestic real estate market in good stead so far in 2021. In the first six months of the year, Vietnam’s average GDP reached 5.64 per cent, of which real estate grew by four per cent over the same period. Reported land fever reduced in the second quarter, stemming from the Ministry of Natural Resources and Environment requesting 26 local authorities to inspect the planning, leasing, and transferral of land in March. The interest in land plots located within a radius of about 50-100km from Hanoi also decreased sharply. In which, Thai Nguyen decreased by 6 per cent, Bac Giang by 35 per cent; Bac Ninh was down 38 per cent; and Hanoi’s Quoc Oai district in fell by 17 per cent, according to figures released by Batdongsan.com.vn.

Apple shores up Vietnam supply chain

Vietnam calls for APEC's cooperation on Covid vaccine research, production www.vnexpress.net Vietnam on Friday called for APEC to cooperate on Covid-19 vaccine research and production, as well as considering intellectual property waivers. At the APEC Informal Leaders Retreat on responding to the pandemic and economic recovery initiated by Australia, President Nguyen Xuan Phuc proposed stepping up regional cooperation for technology transfer regarding Covid-19 vaccine research and production, considering how APEC is home to some of the world's top vaccine production and supply centers.

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Colliers News Unexpected developments of real estate segments during the Covid-19 pandemic www.cafef.vn Colliers Vietnam has just released the Vietnam Real Estate Market Research Report for Q2/2021, showing the market performance in the real estate segments in the cities of Hanoi, Ho Chi Minh City and Da Nang. This firm pointed out that, despite the difficulties caused by the Covid-19 pandemic, Vietnam's economy still demonstrated strong resilience and had many optimistic signs in Q2/2021. Specifically, GDP in Q2/2021 was estimated to increase by 6.61% over the same period last year. GDP in the first 6 months of 2021 increased by 5.64%, higher than the increase of 1.82% in the first 6 months of 2020 but lower than the increase of 7.05% and 6.77% of the same period in 2018 and 2019. According to a representative of Colliers Vietnam, it is expected that the vaccination strategy to achieve community immunity will be successful as soon as possible. “This is the most important condition to help many economic activities in general and the real estate market in particular gradually recover and grow strongly again.”

Unexpected developments of real estate segments during the Covid-19 pandemic

Nippon Notebook opens first stationery plant in Vietnam www.vir.com.vn Nippon Notebook Corporation under major Japanese stationery and office supplies maker Plus Corporation has opened a new factory in Vietnam to produce workbooks and notebooks. Located in the southern province of Dong Nai, the plant is Nippon Notebook's first overseas factory. The factory, which is slated to be put into operation in September, will manufacture workbooks and notebooks for Vietnam and other Asian countries, according to Kyodo News.

Nippon Notebook was assured by Plus Vietnam of the human resources and technical support

Hitachi Asia eyes business expansion in Vietnam www.vir.com.vn Hitachi Asia Vietnam is planning to expand business activities and cooperation in Vietnam, with e-money being a target. Vietnamese Deputy Minister of Information and Communications Pham Anh Tuan on July 19 had a virtual meeting with Kazunori Sudo, general director of Hitachi Asia Vietnam. Departments of the ministry and VNPost attended the event.

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Colliers News Despite the pandemic, the occupancy rate of industrial parks in Hanoi and Ho Chi Minh City still reaches 80-90% www.cafebiz.vn The Q2/2021 real estate market report by Colliers Vietnam shows that, despite the complicated development of the Covid-19 pandemic, industrial land prices in Hanoi and Ho Chi Minh City still increased, the occupancy rate reached over 80% to 90%. The average offer price for industrial land was still at USD 175/m2/ term in HCMC, up slightly from the previous quarter. The average occupancy rate was 85%, similar to the previous quarter. Trading activity slowed down in April due to a spike in Covid-19 cases. The average offer price of industrial land in Hanoi was still at USD 140 /m2/term and the occupancy rate was about 90%. Due to the limited land fund in Hanoi, many investors were looking for land in neighboring provinces such as Hung Yen or Hai Duong, where land rental rates are much lower. Talking about the prospects of this segment in the future, Colliers Vietnam said that there were many new supply of industrial parks in the coming years to meet the growing demand, but some challenges was in the second half of 2021.

Despite the pandemic, the occupancy rate of industrial parks in Hanoi and Ho Chi Minh City still reaches 80-90%.

Ninh Thuận shifts towards ‘green economy’ www.vietnamnews.vn The south-central province of Ninh Thuận saw a strong economic growth rate of more than 12 per cent over the last two years, thanks to advantages in marine economy and renewable energy. In the past five years, the province’s development orientation has shifted to a green economy for sustainable development, and economic competitiveness and efficiency.

Trung Nam Group’s wind farm in Ninh Thuận Province is the largest in Việt Nam

Thủ Thiêm 2 Bridge to open to traffic next year www.vietnamnews.vn HCM City’s 1,465m Thủ Thiêm 2 Bridge over the Sài Gòn River between District 1 and the newly created Thủ Đức City is expected to open to traffic in the second quarter of next year. Đại Quang Minh Real Estate Investment Corporation, the builder, said the main span of the cable-stayed bridge is scheduled to be connected on September 2 this year to celebrate National Day.

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Colliers News Why does Binh Chanh real estate still have potential to increase in price? www.cafef.vn According to Mr. David Jackson, CEO of Colliers Vietnam, over the past time, housing prices in Ho Chi Minh City had continuously increased, making it more difficult to find affordable projects for many people. Grasping this situation, some investors had also developed mid-range projects in districts that were relatively far from the center. With its increasingly modern and beautiful architecture and design and quite reasonable prices, it attracted a large number of interested customers. According to Mr. Jackson, due to the fact that 3 sub-districts of Hoc Mon, Binh Chanh and Nha Be had a roadmap to transform into a district or city directly under Ho Chi Minh City, it was understandable that real estate in this area would be bustling in the next period. In fact, the real estate market in these areas has begun to develop with the appearance of many well-invested infrastructure projects, attracting real buyers. This was really a good sign because the development of these areas would reduce the pressure of urbanization for HCMC.

Why does Binh Chanh real estate still have potential to increase in price?

Vietnam listed among World’s top 20 host economies for foreign direct investment www.vietnaminsider.vn The country was up five places against last year’s ranking to reach 19th on the list, according to UN Conference on Trade and Development (UNCTAD)’s World Investment Report 2021. While global FDI flows fell by 35 percent to 1 trillion USD amid the COVID-19 pandemic, the lowest level since 2005 and almost 20 percent lower than the 2009 trough after the global financial crisis, the FDI in Southeast Asia, considered an engine of global FDI growth for the past decade, contracted by 25 percent to 136 billion USD, said the report.

Vietnam listed among World’s top 20 host economies for foreign direct investment

Moscow entrepreneurs look for opportunities in Vietnam www.vir.com.vn More than 100 Vietnamese companies took part in an online business matching event with entrepreneurs from Moscow on Tuesday. The event was organised by Moscow Export Center with the support of the Ministry of Industry and Trade of the Russian Federation and trade mission of Russia in Vietnam. Businesses in Moscow are interested in penetrating the markets of Southeast Asian countries and are looking for opportunities to develop business relationships with Vietnamese partners. colliers.com/en-vn

Colliers News Booming the race to expand the industrial park www.vnexpress.net Mr. David Jackson, CEO of Colliers Vietnam, said that industrial real estate continued to be vibrant and was the “brightest” segment compared to other types in the real estate market amid the increasingly complicated pandemic. Besides industrial land, factories and warehouses, with the strong growth momentum of e-commerce, the logistics services segment also promised great potential. Colliers CEO confirmed that the shift of production from China as well as a series of signed Free Trade Agreements (FTAs) had increased the demand for industrial land across the country. New industrial parks had been planned or built throughout the North, Central and South provinces to meet this demand, leading to a boom in the industrial real estate market in the past time despite the pandemic.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

US Defence Secretary set to make two-day visit to Vietnam www.vov.vn US Defence Secretary Lloyd Austin is scheduled to pay an official visit to the nation from July 28 to July 29 following an invitation sent by Vietnam’s Defence Minister General Phan Van Giang. Information about the visit was released by Le Thi Thu Hang, spokesperson for the Ministry of Foreign Affairs, during a regular press briefing held on July 22.

Iberdrola buys renewable energy assets in Vietnam

www.vir.com.vn Iberdrola, one of the largest global energy companies, has acquired renewable energy assets in Vietnam from German SOWITEC Group. SOWITEC Group has sold its Vietnamese operations to Iberdrola which is looking for markets with growth potential in the Asia-Pacific.

Revamping IZ management to meet investment appetite

www.vir.com.vn Investors are calling for significant improvements to the operations of management boards of Vietnamese industrial zones to accelerate administrative procedures and better meet the tremendous appetite for investment. Management boards are supporting financiers and businesses to carry out administrative procedures related to setting up projects in the industrial zones (IZs), export processing zones (EPZs), and economic zones (EZs). However, their support has been criticised by investors. Nguyen Mai Dung, deputy director of Nam Anh Trading JSC said, “Our dossier had met all requirements of Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA), but we were requested to redo it over and over again.

colliers.com/en-vn

Daily Real Estate News Highlights Top 5 -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 Prices of three real estate segments “sharply drops”, some with discounts of up to 50% www.vtv.vn According to Colliers expert, starting in May, the 4th wave of COVID-19 in Vietnam has forced many large cities such as Ho Chi Minh City and Hanoi to implement social distancing according to the Directives 15 and 16. The above developments caused the retail market to face great difficulties in recent times when large commercial centers were forced to close and townhouses suffered from desolate and deserted because tenants could not survive before the pandemic. According to Colliers, the outbreak is spreading not only in Vietnam but also in many Southeast Asian countries. The pandemic has severely affected the rental property market, including serviced apartments. According to Colliers, the average office rent in Q2 of this year in Ho Chi Minh City recorded a marked decrease compared to Q1.

Prices of three real estate segments “sharply drops”, some with discounts of up to 50%

Corporate bond issuance proposed for building 3,800km expressway www.vir.com.vn The goal of building 3,800km of expressways within 10 years, as the top focus of the government's public investment plan, requires a variety of solutions to diversify capital sources due to a finite government budget and increasingly difficult credit access. Transport infrastructure firms are proposing three main capital sources for implementing public private partnership (PPP) projects, including state budget capital, equity capital, and capital raised from other resources.

The section of the North-South Expressway running through Thanh Hoa province

Status of real estate up in air as globe strives for recovery www..vir.com.vn The real estate market is witnessing a decrease in liquidity, with the situation not likely to change for the better for the remainder of the year as Vietnam’s economy struggles with the damage caused by the pandemic. Experts noted that while the first quarter of 2021 recorded some positive signals for real estate recovery, May and June’s increase in coronavirus cases has put a dampener on the national economy and the real estate market in particular. Nevertheless, the latest outbreaks may still create an opportunity for real estate developers who have proved their value and strength in quality products.

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Colliers News Industrial real estate stands in front of large capital flows www.vietnambiz.vn Mr. David Jackson, CEO of Colliers Vietnam, said that industrial real estate continued to be vibrant and was the brightest segment compared to other asset classes in the real estate market amid the increasingly complicated pandemic. Besides industrial land, factories and warehouses, with the strong growth momentum of e-commerce and logistics services segment also promised great potential. However, according to Mr. David Jackson, the second half of this year would pose a number of challenges for Vietnam when the pandemic spread rapidly, penetrated industrial zones and caused major outbreaks across the country. Although there were many opportunities, Colliers Vietnam CEO said that attracting foreign investment in industrial real estate in Vietnam still had some bottlenecks.

Industrial real estate stands in front of large capital flows

Bac-Giang approves planning for four IZs on same day www.vir.com.vn The first IZ approved by Bac Giang is Yen Son-Bac Lung IZ in Luc Nam district, which is oriented to be a multi-industry general IZ. This IZ will specialise in welcoming enterprises in manufacturing electronics, refrigeration, mechanics, high-tech machiner, and equipment, as well as environmentally-friendly consumer goods (excluding projects in the textile-garment and leather-shoes industries).

Bac Giang approves four IZ plannings in same day.

German wpd enters Vietnam with Kon Plong onshore wind energy project www.vir.com.vn German developer wpd AG in collaboration with Singapore's Levanta Renewables is planning the Kon Plong onshore wind energy project in the Vietnamese province of Kon Tum, located about 780km southeast of Hanoi. The project marks wpd’s entry into the Vietnamese market. The company will focus on project developments through cooperations for both onshore and offshore wind.

Finance Ministry working on US$1.04 billion support package

www.vietnamnews.vn The Ministry of Finance (MoF) is mulling a VNĐ24 trillion (US$1.04 billion) support package for businesses hit by the coronavirus pandemic by exempting and reducing tax and fees. Minister of Finance Hồ Đức Phớc said that the 15th National Assembly (NA) on Sunday discussed the implementation of the socio-economic development and State budget plans for the first six months of the year. colliers.com/en-vn

Colliers News The price is reduced by half, revealing the unprecedented suffering of the “giant” who owns golden land www.soha.vn According to data from Colliers, in Ho Chi Minh City, in the administrative center area, the average rental rates at commercial centers decreased by 15% during the pandemic, from VND 3.1 mil/ m2/month to VND 2.64 mil/m2/month, with an average vacancy rate was about 1.5%. The average rental rate in non-CBD areas had a deeper decrease, about 30% during the pandemic, from VND 805,000/m2/month to VND 563,000/m2/month, the average vacancy rate was about 14%. Similar to Ho Chi Minh City, the average rental rates at commercial centers in Hanoi also decreased slightly during the pandemic. Regarding the townhouse rental segment, Colliers said that because the potential of townhouse tenants was not as strong as that of tenants in the commercial center, the reduction in the rental rates of townhouses was stronger than that of the commercial center.

The price is reduced by half, revealing the unprecedented suffering of the “giant” who owns golden land

Hanoi to apply safety review of old apartments www.vnexpress.net Hanoi plans to spend VND500 billion ($21.7 million) to evaluate the quality of 1,579 apartments to ensure safety. Many of these apartments were built between 1960 and 1994, and some of them before 1954, posing risks to residents. These are often small apartments located downtown that have been illegally modified overtime with structural deterioration. The city is set to renovate or resettle residents in old apartment buildings to new developments from now until 2025

Old apartments in Ba Dinh District, Hanoi.

Quang Nam pulls plug on four hydropower plants www.vnexpress.net The central province of Quang Nam has scrapped plans for building four hydropower plants, the province People's Committee said. Nguyen Hong Quang, its deputy chairman, said Monday the People's Council decided to remove four small and medium-sized projects -- A Vuong 4 in Tay Giang and Dong Giang districts, Song Bung 3 in Nam Giang District, A Banh in Tay Giang District, and Dak Di 4 in Nam Tra My District – from the list of planned hydropower plants as they have low capacity, severely impact the environment, require large tracts of land, and bring low economic benefit.

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Colliers News Covid is the right time to buy a "bargain" home? www.cafef.vn In the context where the pandemic has not been controlled, the need to live separately, safely and comfortably in the city center has become the top criteria for choosing a house of the well-off people. That is the reason why complexes with low density of apartments and multi-storey utilities in the area are still sought after even during the peak period of the pandemic in Hanoi. According to Colliers Vietnam, due to increasing demand and tight supply, the selling price of apartments in Hanoi in 2021 is expected to increase by about 7% compared to 2020. Therefore, this is a reasonable time for investors as well as those with real needs to “put money”. Because not only buy apartments with real value before the price “escalates”, home buyers also receive extremely attractive financial support from investors.

Mr. David M. Jackson Chief Executive Officer | Colliers Vietnam

IDS Equity Holdings: Differentiation by combining Japanese and Vietnamese culture www.vir.com.vn IDS Equity Holdings is a pioneer in applying international sustainable development standards across its commercial project portfolio, from hospitality projects to office and serviced residences buildings. Minh Nguyen, deputy CEO of the investment company (a cross-country collaboration between Vietnamese and Japanese corporations) shares the sustainable development goals as the company expands its development projects across Vietnam.

Apple CEO Tim Cook: emerging markets including Vietnam posted double digit growth

www.vir.com.vn Apple CEO Tim Cook has shared the brand's growth performance in emerging markets including Vietnam during the company's earnings call in the third quarter of 2021.

Hoa Phat to expand production, draw further ahead of Southeast Asian rivals

www.vnexpress.net After emerging as Southeast Asia's largest steelmaker this year, Hoa Phat Group aims to solidify its position by breaking ground for a $3.7-billion blast furnace plant early next year. "Demand for steel remains strong in Vietnam, and we have a lot of faith in this investment," Nikkei quoted Hoa Phat chairman Tran Dinh Long as saying about the plant to be built in the central province of Quang Ngai. The expansion comes as Vietnam accelerates efforts to increase production of key industrial materials as the pandemic and geopolitical tensions highlight the risk of overdependence on Chinese supply.

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