Monthly Real Estate News I March 2023

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Daily Real Estate News Highlights

Vietnam - 01 March 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.

A wave of investors quietly "bottom-fishing" appeared in resort real estate

www.markettimes.vn

“Many resort markets have been frozen for about 3 years, and when tourism shows clear signs of recovery, investors have seen signals of bottom fishing. It is possible that a new growth cycle is starting, some investors may want to take advantage of "spend money" during this period to look for big profits later", Mr. David Jackson, CEO, Colliers (Vietnam) commented about the wave of investors quietly "bottom-fishing" resort real estate.

No high tax yet for second-home owners

www.plo.vn

In the pilot mechanism for HCMC, the MOPI did not propose high taxing for second-home owners. The Ministry explains that the issue has different opinions and large impact so it needs to be directed by the Standing Committee. The report is expected to get feedbacks in March.

Real estate companies continue to be dissolved

www.vneconomy.vn

235 Realty businesses were dissolved in the first two months, up 20% y-o-y. FERI explains that the fluctuations in 2022 made many companies unable to keep up. Thus, flexible adaptation strategies and good preparation are needed to survive during a crisis and thrive afterwards.

HCMC: 4/7 problematic realty projects provided solutions

www.nld.com.vn

After working with the investors of 7 real estate projects to consider and remove obstacles, representatives of HCMC People's Committee concluded on 4/7 projects and directed to solve in details. The information was announced by HoREA on March 1.

No high tax yet for second-home owners

Real estate projects with good legal status are in the sights of investors.

Vietnam - 02 March 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.

Which direction will Hanoi retail real estate segment go?

www.dothi.reatimes.vn

According to experts at Colliers (Vietnam), the return of exciting tourism activities is considered a major impact on retail and consumer service activities in Vietnam. Most importantly, good economic growth and controlled inflation have helped the retail & office real estate segment recover faster, which is a segment with great potential for investors in the year 2023.

Ministry of Construction stops proposing the VND110,000-bln credit package for social housing

www.vnexpress.net

The MOC said it would stop proposing the VND110,000-bln credit package for social housing to focus on the VND120,000-bln one agreed by four state-owned commercial banks.

Heated game in retail market

www.diendandoanhnghiep.vn

More foreign retailers plan to expand and modernize their distribution system, while domestic companies are striving to keep their market shares with continuing efforts such as innovating management, brand recognition, restructuring the industry, applying technology, and improving sales.

Modifying the calculation formula will increase the price of social housing

www.vneconomy.vn

According to VCCI, adjusting the formula for calculating the selling price and rental price of social housing in the direction of removing the regulation on the profit deduction of the commercial housing area in the social housing construction investment project is divided into two categories: supplementing the area of social housing for sale, which will increase the price of selling, renting, and renting social housing.

The retail segment will receive a lot of attention in the coming period

High-class real estate is proposed to be taxed to limit speculation

Daily Real Estate News Highlights

Vietnam - 03 March 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

The bright spot of industrial real estate

www.daidoanket.vn

Industrial properties are considered brightest in the current real estate market with occupancy rates of IPs nation-wide on the rise. Mr. David Jackson - CEO, Colliers (Vietnam), assessed: "The potentials of Vietnam's industrial real estate looms large thanks to the advantage of geographical location, political stability, and labor resources, reasonable costs, many incentives in attracting investment and supporting industrial development.

Interest rates start to ease as credit rooms loosened

www.plo.vn

Some banks have been granted credit growth limits this year, ranging from 8.3% to 13.5%. Yet, demand is decreasing as interest rates still remain high. It's time to consider lower lending rates to better support manufacturing and trading corporates.

Masterise Homes topped off the Lumiere Riverside

www.vnexpress.net

Masterise Homes marked the completion of the rough construction of the entire project on Mar 1. Launched in 2020, the project is located in Thao Dien residential area and 700 meters away from An Phu station of the Metro 1.

Renovating old buildings in Hanoi: 1% achieved after over 30 years

www.tienphong.vn

The construction and renovation of old apartments have been a problem for Hanoi for more than 30 years ago, but only about 1.2% has been done so far. Thus it is crucial to consider this mission urgent not necessary.

Industrial real estate is a bright spot in the market.

Vietnam - 06 March 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

Contradictory facts between commercial centers in prime locations

www.zingnews.vn

Colliers' Q4/2022 data indicates that Diamond Plaza has an average rent of almost 155 USD/sqm/month, second only to District 1's Times Square. However, the appeal of these shopping centers differs by customer segment.

Vietnam allows companies to make bond payments with other assets

www.bloomberg.com

Vietnam said companies facing a liquidity crunch can use other assets to make principal and interest payments on bonds if their debtholders agree.

Hai Phong about to commence a social housing project of nearly VND 4,900 billion

www.vnexpress.vn

The project will be implemented on an area of 16.9 ha. Specifically, the social housing area includes 10 blocks of 15-storey apartment with about 4,456 units, and 7-storey commercial housing area with 163 units.

ACV asks to extend the construction time of Long Thanh Airport's passenger terminal

www.thesaigontimes.vn

Vietnam Airport Corporation (ACV) proposes the Ministry of Transport to allow the adjustment of the time for the implementation of the package contract 5.10 from 33 months to 39 months, completing the passenger terminal in 2026.

Vietnam allows companies to make bond payments with other assets

Contradictory facts between commercial centers in prime locations

Vietnam - 07 March 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

Increasing hotel demand brings opportunity to hospitality real estate

www.thanhnien.vn

In Hospitality Insights Q1/2023, Colliers view is that 2023 will continue to witness a recovery in travel, with hotel demand across the region continuing abound. Singapore, Bangkok, Bali, and HCMC are expected to lead the recovery across Asia. These fundamentals bring great potentials to the hospitality real estate in Vietnam.

7,753 off-plan properties in HCMC eligible to sell

www.phunuonline.com.vn

The HCMC Department of Construction confirmed the eligibility of 3 off-plan projects to raise capital in February, with 4,495 units including 3,941 apartments and 554 low-rise houses. Accumulation in early 2023, there are 5 projects with 7,753 units allowed to sell in HCMC.

Actis investment fund (UK) "pours" 20 million USD into An Phat 1 Industrial Park

www.diendandoanhnghiep.vn

Thanks to synchronous infrastructure investment, An Phat 1 Industrial Park is a bright spot to attract foreign direct investment (FDI) in Hai Duong province. In particular, Actis Sustainable Infrastructure Development Investment Fund (UK) "poured" 20 million USD into this industrial park.

HCMC to spend nearly VND 250 billion to lift two bridges over Saigon River

www.laodong.vn

Two bridges included Binh Trieu 1 and Binh Phuoc 1 crossing the Saigon River will be raised to 7 meters, with a total investment of nearly 250 billion VND, completed in 2024 to help ships circulate easily and promote the development of waterway transport.

The eligible homes for sale and mobilize capital in HCMC increase significantly y.o.y

Vietnam resort real estate possesses potential.

Daily Real Estate News Highlights

Vietnam - 08 February 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.

The recovery of international tourism drives hospitality segment

www.vneconomy.vn

Commenting on the absorbance of future hotel supply, Colliers expert advise that more cautious approach should be taken, especially in the urban hotel segment, because these are properties that are expected to need more time to fully recover.

Dong Nai agrees with HCMC on 3 more bridges

www.tienphong.vn

The 3 new bridges will start from Thu Duc City (so-called Dong Nai 2 bridge), from the South in Nguyen Huu Tho Street and from the provincial road 769D to connect to Long Thanh International Airport.

Ha Nam has new billion-VND industrial park

www.tienphong.vn

The northern province of Ha Nam has got the nod to develop a 100-hectare industrial park, with a total investment of VND977 billion. The facility will encompass Bac Ly, Tran Hung Dao and Chan Ly communes in Ly Nhan District, developed by Hop Tien LLC.

The Fed to raise its interest rate hikes to control inflation

www.vtc.vn

The Federal Reserve may increase the scope of its interest rate hikes if the economy remains strong and high inflation persists. If the Fed continues to increase rates, it may impact the interest rates tied to products like credit cards and mortgages.

Dong Nai River is in need of more bridges connecting Dong Nai province and HCMC

The rebound in international tourism is expected to drive the industry's recovery

Vietnam - 09 March 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.

HCMC among 3 others expected to lead the recovery across Asia

www.congthuong.vn

In Vietnam, the hospitality real estate presents great potentials as the country is striving to capitalize on the rebound of travel and leisure needs from both domestic and international tourists post pandemic. Fundamentals of Vietnam hospitality are inherently good, and demand to deploy capital is very strong.

VinaCapital teams up with Japan’s Ryobi in Vietnam investment

www.theinvestor.vn

VinaCapital and Japanese conglomerate Ryobi have signed a deal to form a business alliance to explore investment opportunities in Vietnam. The duo will look at real estate projects, private equity, venture capital, infrastructure, and energy sector.

Proposal to tax double on transaction of the second or more real estate in HCMC

www.tuoitre.vn

To increase non-agricultural land tax not exceed 5 times and PIT not exceed 2 times on transaction of the second or more real estate are the specific mechanism proposed to be piloted in HCMC.

Vinamilk, Sojitz begin work on giant beef processing complex

www.e.vnexpress.net

On Mar 8, construction of a cattle farm and beef processing plant began in Vinh Phuc by a joint venture between dairy giant Vinamilk and Japan’s Sojitz Corp.

HCMC tourism is expected to lead the recovery.

Signing ceremony between VinaCapital and Ryobi Group in HCMC

Vietnam - 10 March 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

HCMC is expected to be in the top of tourism recovery in Asia

www.thoibaotaichinhvietnam.vn

In Vietnam, the hospitality real estate presents great potential to recover. Morgan Ulaganathan, Head of Asset Services & Hospitality Advisory, Colliers (Vietnam) said: “Major players in the private equity world have been playing a smart bet since the height of Covid and up to this moment. Though interest rates are rising, it will normalize, funds have been raising capital to invest in hospitality assets due to the current favorable valuations before hotel revenues meet their full potential with the recovery.”

Exclusive: Chip equipment maker ASML's suppliers eye Asia plants outside China amid tensions

www.reuters.com

Suppliers to Dutch chip-making machines giant ASML are considering building plants in Vietnam, Malaysia and Singapore instead of China amid political tensions between Beijing and the West.

LG Electronics opens R&D centre in Hanoi

www.vietnamnews.vn

LG Electronics Inc said it would strengthen R&D activities in Vietnam to meet the rapid growth of the electric vehicle parts business. Based in Hanoi, the new centre will focus on software development and in-vehicle testing, including telecommunications, audio, video and navigation equipment.

Hanoi's first golden hotel up for sale

www.e.vnexpress.net

The gold-plated Dolce by Wyndham Hanoi Golden Lake is for sale with a starting price of $250 million. The auction is set for March. Sharing the reason, property owner said his company is short on funding for employee compensation and interest.

Mr. Morgan Ulaganathan Head of Aset Services & Hospitality Advisory, Colliers (Vietnam)

ASML's Headquarter in Eindhoven, Netherlands

Vietnam - 13 March 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

Where can Vietnam increase FDI attraction from?

www.vnexpress.net

Mr. Vu Minh Chi, Senior Manager, Industrial Services, Colliers (Vietnam) said that in the context of prolonged uncertainty, market actors will re-evaluate their investment portfolios towards quality assets, high quality, and anti-inflation. Therefore, the development of IPs in Vietnam needs to ensure the integration of sustainability factors as well as the ecosystem.

Vietnam’s Premier tells Central Bank to review property loans

www.bloomberg.com

Vietnam’s Prime Minister Pham Minh Chinh on Sunday instructed the central bank “to review real estate projects in order to take appropriate measures, such as delaying loan payments for some property companies,” to help ease a credit crunch in businesses.companies,” to help ease a credit crunch in businesses.

HCMC: Residential land to be compensated up to 25 times the state price

www.dantri.com.vn

Residential land depending on the district has an adjustment K coefficient of 3-25 times higher than the state price, while agricultural land is 38 times higher. Commercial and service land is calculated at 80% of the price of adjacent residential land and other land types equal to 60%.

Distressed real estate developers to get debt payments extended

www.hanoitimes.vn

In the recently issued Resolution No.33, struggling real estate firms can extend their principal and interest loans, as well as restructure their debt pools. Projects with legal compliance, positive sales prospects, and feasible repayment plans will be given easier access to credit.

Property in Hanoi

Mr. Vu Miinh Chi Senior Manager, Industrial Services Colliers (Vietnam)

Daily Real Estate News Highlights

Vietnam - 14 March 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 potential could revive choppy property market

www.vir.com.vn

Major players in private equity world are playing a smart game in the distressed property market. Morgan Ulaganathan, head of Asset Services and Hospitality Advisory at Colliers Vietnam shared that funds have been raising capital to invest in hospitality assets due to the current favourable valuations.

Vietnam cuts key rate by 100 basis points as economy slumps

www.bloomberg.com

Vietnam’s central bank unexpectedly cut the rate at which it lends to banks, underscoring the need to support the economy amid a bleak global outlook and slowing domestic demand.

Government proposes to limit apartment ownership duration

www.e.vnexpress.net

In amendments to the Housing Law, the Government wants the duration of apartment ownership to be fixed based on their design documents and the tenure determined by competent authorities. The proposal will be discussed by the National Assembly’s Standing Committee on March 17.

VND120 trillion credit package for social housing to be rolled out

www.english.thesaigontimes.vn

The SBV was assigned to implement VND120,000 billion for developing homes for the poor and workers, and renovating or re-building old apartment blocks. The credit package will offer soft loans at interest rates lower than normal market levels.

The new rates will take effect from March 15.

M&A potential could revive choppy property market

Daily Real Estate News Highlights

Vietnam - 15 March 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

The real estate market is spinning in a vicious circle

www.bds.tinnhanhchungkhoan.vn

Companies are waiting for legal completion, projects lack of cashflow, buyers become more cautious, while relevant agencies are waiting for each other's approval. Commenting on the opportunities, Mr. David Jackson - CEO, Colliers (Vietnam) shared that M&A activities will be vibrant this year amid uncertainties until market sentiment and liquidation improve.

Over 400 km of the North-South expressway to be completed in 2023

www.thesaigontimes.vn

The MOT is striving to complete and put into operation 7 component projects with a total length of about 412 km in 2023. To complete the whole North-South route by the end of 2025, the Ministry has divided the project into 2 phases to organize the implementation to ensure appropriate transport needs and investment resources.

Bare lands decrease 1 billion VND in some places

www.phunuonline.com.vn

Survey from DKRA showed that the new supply, and consumption of the land plot in the first two months of 2023 fell sharply by 92% and 98% respectively over the same period last year. The secondary price decreased by 10 - 23% compared to the end of 2022, equivalent to 100-690 million VND/lot, or up to 1 billion VND/lot.

Chinese tourists flocking to Vietnam after 15 March

www.vov.vn

It is expected that Quang Ninh welcomes a group of 150 Chinese tourists entering through the Mong Cai border gate; Lang Son will welcome the first group of 124 Chinese tourists since this market resumed group tourism to Vietnam, etc.

The North - South Expressway section Cam Lo - La Son has been completed and put into operation in 2023.

Ho Chi Minh City currently has hundreds of projects facing legal procedures

Vietnam - 16 March 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.

Attraction some way off for social housing

www.vir.com.vn

The lack of affordable social housing has raised whether foreign developers should be allowed to invest in this segment in Vietnam. David Jackson, CEO of Colliers Vietnam, said that international institutions and foreign investors were not yet allowed to take part in the development of social housing, which could be part of the reason for the low figures. However, if new laws and regulations could enable their participation, affordable housing or social housing could become more appealing.

Ben Tre accelerates the development of night

economy

www.vietnamplus.vn

According to the night economic development project for the period 2021-2030, Ben Tre province strives by 2025, to form at least 2 areas of entertainment and entertainment complexes and 3 tour activities at night.

HCMC revoked the Bitexco Malang project after 16 years of non-implementatio

www.thesaigontimes.vn

The Ho Chi Minh City government refused to continue implementing the 6.8-hectare complex and commercial center project limited by 4 streets Nguyen Trai - Cong Quynh - Tran Dinh Xu - Nguyen Cu Trinh (Ma Lang area) after 16 years of non-implementation.

Proposal to allow businesses to mortgage LUR for foreign loans

www.vnexpress.net

The 2013 Land Law does not currently allow domestic enterprises to mortgage land use rights for international loans. In this draft amendment, this is also not mentioned. Many opinions suggest that the Land Law has a mechanism for Vietnamese enterprises to mortgage land use rights and land-attached assets to raise capital from abroad.

Foreign tourists choose handicraft products at the night market.

Government leaders have recently urged local authorities to smooth the way for foreign parties to invest

Daily Real Estate News Highlights

Vietnam - 17 March 2022

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

Real estate businesses 'racing' to handover to customers

www.dothi.reatimes.vn

According to Mr. David Jackson, CEO, Colliers (Vietnam), it is very important for real estate developers to speed up the handover of projects to not only affirm the investor's capacity but also help maintain their prestige to the customers.

A roadmap needed to find the land market value

www.vietnamplus.com

Experts assess that a roadmap in determining land prices should be piloted in 3-5 years then replicated from 2026. In other countries, it also takes 5-10 years to determine the net market value of land. Direct comparison – adjustment coefficient – quantitative regression should be considered as the three key methods of land valuation.

Vietnam looks to ease visa requirements to woo more tourists

www.bloomberg.com

Prime Minister Pham Minh Chinh ordered ministries and sectors to amend and complete policies on immigration procedures, increase the number of countries exempted from visas and extend the duration of stay in accordance with reasonable fees, and expand e-visas.

Analysis: Chinese suppliers race to Vietnam as COVID let-up opens escape route from Sino-U.S. trade war

www.reuters.com

Since December 2022, Chinese firms spent the first 50 days of 2023 investing in 45 new projects in Vietnam, the most from a single country. With big-name players already in the country, attracted by its free-trade agreements and proximity to China, the companies making up the current wave of investors are mostly smaller suppliers to those larger firms, industry experts said.

Tran Hong Ha Deputy Prime Minister

HCMC investors "hunt" for legal real estate projects

Daily Real Estate News Highlights

Vietnam - 20 March 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

CEO of Colliers: Opportunities in the real estate market will begin to appear from mid-2023

www.reuters.com

Mr. David Jackson – CEO of Colliers (Vietnam) said that the real estate market in Vietnam is undergoing adjustment to move towards a new cycle. From mid-2023 onwards, the housing market may begin to stabilize and grow. Moreover, the 2 popular issue emerging in the market today is cash flow and market sentiment.

New tax regulation on real estate transfer

www.tienphong.vn

The Circular 13, issued by the Ministry of Finance and effective from April 14, regulates that, for real estate transfers, the value-added tax calculation price is the real estate transfer price minus the land price deductible for tax calculation added value.

Proposed time limit for apartment ownership gets thumbs down

www.vietnamnet.vn

The National Assembly Standing Committee has not thrown its weight behind the time limit of apartment ownership as proposed in the draft of the revised Housing Law.

The National Assembly Standing Committee does not advocate setting a term for apartment ownership

www.vnexpress.net

On the afternoon of March 17, the National Assembly Standing Committee held the 21st session to discuss and give opinions on the draft Housing Law (amended). The government wanted to set a time limit for apartment ownership, but the National Assembly Standing Committee disagreed because it thought it interfered with people's property ownership.

New tax regulation on real estate transfer effective from 14 April

The real estate market in Vietnam is undergoing adjustment to move towards a new cycle

Daily Real Estate News Highlights

Vietnam - 21 March 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

Project legal entanglement: Avoid "top off, bottom tied"

www.bds.tinnhanhchungkhoan.vn

With a more optimistic view in the context of a fluctuating market, Mr. David Jackson, CEO, Colliers (Vietnam) said that recently the buyer's psychology has become less cautious and changed to a state of calmly observing and selecting opportunities. Whenever getting used to the high-interest rate environment and limited credit room, people have to adjust their asset investment plans in the short and medium term.

Vietnam seeks new investor incentives as cross-border tax rules loom

www.reuters.com

Vietnam has set up a special panel to find ways to stay competitive for investors when new OECD cross-border tax rules take effect, its central bank said on Tuesday, amid concerns it could negate the benefits of its current tax incentives.

Foreign retail giants continue to expand share of Vietnamese market

www.english.vov.vn

Foreign retail giants such as Central Retail, AEON, and MM Mega Market have set their sights on capturing a larger share of the Vietnamese market, according to industry insiders.

Japanese retailers continue to expand in Vietnam

www.vnexpress.net

Although the market’s buying power is weakened in the short term, Japanese retailers such as Uniqlo, MUJI, and AEON continue to open new stores in Vietnam. A recent survey conducted by JETRO has shown that 100% of Japanese retailers believe in the positive outlook of their businesses in Vietnam in 2023.

Money An industrial park in Binh Duong Province

Brokers started "hunting" again.

Daily Real Estate News Highlights

Vietnam - 22 February 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

Real estate M&A warms up gradually www.zingnews.vn

Some M&As are ongoing in the real estate market. "If concluded successfully, this deal would pave the way for sizable transactions in Vietnam." - Ms. Van Cao, Director, Capital Markets & Investment Services, Colliers (Vietnam) commented on the possible negociation between CapitaLand and Vinhomes.

Airbus committed to expanding supply chain in Vietnam

www.ven.vn

Leading aerospace company, Airbus, is reinforcing its commitment to expanding its supply chain in Vietnam. This is part of the company's ongoing effort to optimise its operations and better serve its customers.

Vietnam's Be Group in deal to become country's first ride-hailing firm to use Evs

www.reuters.com

Vietnam's Be Group said on Tuesday it has signed an agreement with an electric vehicle leasing service that will make it the first ride-hailing firm in the country to use EVs. Be, a homegrown platform with nearly 10 million customers, and GSM, founded by the owner of Vietnamese EV maker VinFast, will work with Vietnam Prosperity Bank (VPB.HM) to allow drivers to switch away from combustion engine vehicles at "affordable prices", Be said in a statement.

Vibrant F&B market despite customers tightening their belts

www.cafebiz.vn

Before Katinat Saigon Kafe, another popular brand in Ho Chi Minh City, Cheese Coffee, has also moved to the North, opening its first store on Le Dai Hanh Street (Hai Ba Trung District). Since the beginning of 2023, the recruitment page of the Katinat Saigon Kafe coffee chain has continuously posted vacancies for baristas, store managers, and service positions in the Hanoi market. Not just one, this chain is recruiting for 3 stores at Nguyen Chi Thanh Street (Dong Da District), Phan Dinh Phung (Ba Dinh District), and Ly Thuong Kiet (Hoan Kiem District), although it has not officially opened any branch yet.

Ms. Van Cao

Director,CMIS, Colliers (Vietnam)

Tri Mai Hoang, Chief Representative, Airbus Vietnam

Vietnam - 23 March 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.

Prospects on each real estate segment 2023

www.diendandoanhnghiep.vn

The Vietnam real estate market is expected start to stabilize by mid-2023. Meanwhile, investors are re-assessing their capabilities, risks & opportunities for their portfolio. Quality assets with sustainable values, namely offices, I&L and multi-family will outpace in 2023.

Largest-ever US trade delegation seeks more trade and investment

www.vir.com.vn

Leading enterprises in the United States, such as AES, Meta, SpaceX, VISA, and Boeing are looking forward to expanding business activities and demonstrating America's long-term commitment to Vietnam.

An Giang calls for infrastructure investment of 4 industrial parks

www.baodautu.vn

To create a "clean land" fund, ready the premises for attracting investment, exploiting potentials and advantages, and promoting local socio-economic development, An Giang is calling for the infrastructure of 4 IPs concentrated in the province. Those are planned in convenient locations, adjacent to the intra-provincial and inter-regional waterways - arterial roads, convenient for the transportation of raw materials and goods; trade connections.

Vietnam: many real estate segments remain potential

www.vneconomy.vn

In the current conditions, market participants are taking advantage of the time to re-evaluate the capacity, opportunities, and risks of the asset portfolio. If grasping and responding to the new trend, this will be the time for Vietnam's real estate market to enter a new, more sustainable, and stable development cycle, etc.

Senior executives take part in the biggest business mission ever organised by USABC

Time for Vietnam's real estate market to enter a new, sustainable and stable development cycle

Daily Real Estate News Highlights

Vietnam - 24 March 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

Which real estate segment will "attract" the strongest cash flow in the near future?

www.markettimes.vn

Mr. David Jackson - CEO, Colliers (Vietnam) said that the housing market could start to stabilize from mid-2023 onwards. Meanwhile, the office, industrial, and retail real estate segments are forecast to continue growing this year thanks to maintaining good potential and absorption.

A series of hotels in Da Nang up for sale

www.vietnamnet.vn

Under financial pressure, many hotels in Da Nang are quietly for sale before the peak tourist season; some of which are 4-5 star assets costing trillion VND. This shows that hospitality businesses are facing revenue difficulties and need to sell quickly to pay bank debts.

Binh Duong wants to invest two infrastructure projects to HCMC costing 5,300 billion VND

www.baogiaothong.vn

On March 23, Binh Duong Department of Transport said that they are completing documents to unify the implementation of 2 projects for building Song Than intersection & upgrading An Binh road connecting HCMC, with a total cost of more than 5,300 billion VND to reduce traffic jams, increase traffic capacity.

Considerations in compensating owners for old apartments

www.plo.vn

One of the reasons why people refuse to relocate is because of problems related to the compensation unit price. In case the investor of the old apartment project cannot be selected, the State will directly carry out the renovation and reconstruction.

Which real estate segment will "attract" the strongest cash flow in the near future?

A series of hotels in Da Nang up for sale

Vietnam - 27 March 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.

M&A - a "livesaver" for real estate businesses

www.thegioitiepthi.danviet.vn

Some businesses have accepted to sell off part of their assets, especially land funds in key areas like HCMC, in order to save cash flow. Mr. David Jackson - CEO of Colliers Vietnam emphasized that for domestic enterprises, M&A is considered a 'lifesaver' to ensure access to stable cash flow for maintaining project development when capital cannot be cleared promptly.

SMFG Adds to Buying Spree with $1.5 Billion VPBank Stake

www.bloomberg.com

Vietnam Prosperity JSC Bank sold a 15% stake to Japan’s Sumitomo Mitsui Financial Group Inc. for about $1.5 billion, marking the end of a years-long sale process.

Vietnam to grant 3-month e-visas for foreign tourists to boost tourism

www.e.vnexpress.net

The government announced it will propose the National Assembly to prolong the duration of e-visas granted to foreigners entering Vietnam from 30 days to a maximum of three months to boost tourism recovery.

Thailand enterprises crave the retail sector

www.nhipcaudautu.vn

There are many factors that are pushing Thai investors to pour capital into Vietnam's retail market faster. The newly announced investment of US$1.45 billion from Central Retail Corporation (CRC) has attracted much attention from the retail market in Vietnam, which is the largest investment amount ever.

Ha Noi to have 5-10 new industrial clusters this year

www.dantri.com.vn

According to the plan on management, investment and development of industrial clusters, Hanoi City strives to establish and expand 5-10 industrial clusters in 2023.

M&A - a "livesaver" for real estate businesses

Daily Real Estate News Highlights

Vietnam - 28 March 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

M&A: 'a step forward' for the real estate market

www.toancanhbatdongsan.com.vn

Experts estimate that 2023-2024 may be a boom period in M&A.

Stalled projects due to land valuation, how to resolve?

www.tuoitre.vn

The Chairman of Vietnam Valuation Association explained why many projects cannot hire a land valuation consultant. The projects may not be qualified or informative enough while there is no specific mechanism to protect the consultancies. The property owners may require the land prices, making the process no longer objective.

Do not add regulation on apartment ownership term

www.nld.com.vn

An office building projectcommercial - service officetel and apartment in HCMC

The National Assembly Standing Committee demands not to add regulations on the term of apartment ownership in the draft Housing Law (amended). However, However, it is necessary to regulate specifically and feasibly on the competence, order and procedures to relocate residents, demolish, renovate and rebuild apartment buildings that are no longer safe for residential use.

The Prime Minister approves the adjustment of the planning of Van Phong economic zone

www.plo.vn

The North Van Phong area will have 13 subdivisions to develop eco-resort tourism, commercial and financial center, international seaport, logistics and civil airport. With six functional subdivisions, Nam Van Phong is planned to have urban areas, IPs, and industrial port.

Real estate businesses need to find new channels to access capital

Daily Real Estate News Highlights

Vietnam - 29 March 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

Increase the attractiveness of retail space

www.thanhnien.vn

According to experts, current tenants tend to be more strict when choosing premises to ensure the highest operational efficiency. Assessing the prospects of this segment, Colliers Vietnam said that the resurgent tourism activity is also one of the reasons affecting retail and consumer service activities in Vietnam.

Renovating old apartments - do not fall into ownership

www.thesaigontimes.vn

The National Assembly Standing Committee has rejected the Government's proposal to set the apartment ownership term in the draft Housing Law (amended). This is an understandable decision when the drafting agency has not properly caught the disease that is difficult to renovate the old apartment building, so it has proposed an inappropriate treatment plan.

Dong Nai’s FDI attraction booming, nearly triple in Q1

www.vir.com.vn

Foreign direct investment in the southern province of Dong Nai surpassed 500 million USD in the first quarter this year, nearly tripling that in the same period last year, according to the management board of the provincial industrial parks.

Proposing to increase the cost of resettlement support in HCMC

www.thesaigontimes.vn

At the conference on social criticism on the draft resolution stipulating the level of support for renting temporary housing for households and individuals while waiting for the arrangement of houses and residential land for resettlement in Ho Chi Minh City. On March 28, the opinions agreed to expand the audience and increase the cost of renting temporary housing, but it must be realistic and for the benefit of the people.

Customers shop for goods at Aeon Supermarket Long Bien, Hanoi.

Vietnam - 30 March 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.

Real estate businesses generate cash flow through M&A activities

www.vtv.vn

On the increase in M&A activity, Ms. Cao Le Tuong Van - Director of Capital Markets and Investment Services, Colliers Vietnam commented: "The current market is difficult and the current challenge is only short-term. Smart investors quickly seize the opportunity to grow their portfolios now, at this point ready for the next period of growth."

Foreign Investment Agency explains why FDI registered capitals slump

www.tuoitre.vn

The cause of this decline is that in the 3 months of 2022, there was a sudden increase in FDI investment. The Foreign Investment Agency also said that in Mar this year, the value of capital contribution & share purchase by FDI investors decreased and adjusted capital has not improved much compared to the first two months of the year.

Exclusive: Vietnam's Vincom Retail in stake sale talks with strategic investors

www.finance.yahoo.com

Vietnam's largest conglomerate, Vingroup, is in discussions to sell a stake in its shopping mall arm as it seeks to bring in strategic investors, five sources told Reuters on Wednesday. The sources said Thailand's biggest retailer Central Group and other companies are in negotiations to buy a stake in Vincom Retail.

Foreign tourist arrivals in Vietnam skyrocket in Q1

www.e.vnexpress.net

The number of foreign arrivals in Vietnam in the first quarter of this year grew by 30 times year-on-year to 2.7 million. The first quarter figures were around 60% of pre-pandemic levels and one-third of this year's 8-million target, according to a report released by the General Statistics Office (GSO) on Wednesday.

Foxconn - One of the large-scale FDI projects invested in Vietnam in recent years

Real estate businesses generate cash flow through M&A activities

Daily Real Estate News Highlights

Vietnam - 31 March 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

The real estate market will "warm up"

www.vneconomy.vn

With more and more positive factors appearing, Dr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, said that the real estate market will warm up from the third quarter of 2023...On this opinion, CEO of Colliers Vietnam David Jackson, commented that M&A activities will play a key role.

Planning of Ly Son island with a 150-ha airport

www.zingnews.vn

On the morning of March 30, Quang Ngai Provincial People's Committee announced the overall adjustment of the planning of Dung Quat Economic Zone. Accordingly, by 2045, Ly Son island district (Quang Ngai) will move to a coastal city, with an airport of more than 150 hectares and a seaport, to develop tourism and services.

Continue to reduce interest rates and extend and postpone debt for businesses

www.sggp.org.vn

The Standing Deputy Governor of the SBV Dao Minh Tu said the SBV's message was to lower interest rates. Although many countries around the world are still raising interest rates, the State Bank of Vietnam lowers interest rates to support people and businesses. Capital in the economy is currently in excess, so banks encourage lending. In the near future, the State Bank will reduce interest rates again.

Binh Dinh commences a VND1,500-bln coastal road

www.vnexpress.net

The coastal road section DT 639 is 4.3km long, and 24m wide (6 lanes), with a total investment of 1,490 billion VND, was started on the morning of March 31, helping to connect Quy Nhon city, Tuy Phuoc district, Phu Cat & contribute to perfecting the coastal road system.

The real estate market will "warm up"

By 2045, Ly Son island is planned to be a coastal city and has an airport.

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