Monthly Real Estate News | October 2019 by Vietnam Realty

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VIETNAM MONTHLY REAL ESTATE NEWS - October 2019 -

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Daily Real Estate News Highlights Vietnam - 02 October 2019

Top 5 - Daily Updated Real Estate News Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

HCMC keen on using artificial intelligence to advance urban development

VnExpress THCMC authorities say they are keen on optimally using artificial intelligence to serve its development needs and have sought experts’ help. They are hoping to find the shortest way to apply AI on a large HCMC keen on using artificial intelscale and need a model that most suits the city’s current infrastructure. ligence to advance urban development The model should also be able to create a connection among the four factors for development, which are the city’s administration, businesses, scientists who study the application of AI, and investors in AI projects, the city’s Chairman Nguyen Thanh Phong said at a conference Wednesday.

Vietnam faces serious shortage of workers’ housing

The Voice Of Vietnam Most industrial parks in the country lack sufficient housing for workers, Phan Van Anh, vice chairman of VN General Confederation of Labour, said yesterday. “The rate of migrant workers at industrial parks accounts for more than 50 per cent of the country’s total workforce. HCMC, provinces of Đong Nai and Binh Duong have 70% of migrant workers.”

Houses in HCM City’s Tan Phu district

Executive interviews: Time to invest in Vietnam? Vietnam Insider

The strong growth prospects for Vietnam and its political turnaround story has been a recurring theme for fund selectors at Citywire Selector events this year. However, portfolio managers disagree on the prospects for the emerging Asian country. We speak to four key voices about why they are underweight or overweight Vietnam. Robert Marshall-Lee does not currently hold any positions in Vietnam in his BNY Mellon Global Emerging Markets fund. Binh Phuoc - a promised land for property investors in late 2019 Bao Hom Nay Binh Phuoc economic zone has made outstanding changes in the past 5 years, especially in the first-half of 2019 when the province attracts domestic investment for 68 projects, with total registered capital of VND8,500 billion, increasing fourfold yea-on-year. Explaining about why Binh Phuoc attracts investment, experts said that the province is assessed as a potential market and an important connection to Laos, Cambodia, Thailand, and Tay Nguyen region.

Rooftop solar’s growing popularity in HCM City

Vietnam News Le Dinh Vu owner of a home decor store in HCM City’s Thu Duc District, spent nearly VNĐ50 million (US$2,155) to install solar panels on the roof of his newly built house. He uses the power they produce for daily activities and draws less from the national grid. More and more people in the city like Vũ are opting for rooftop solar panels to reduce their monthly energy costs. Companies too are installing them at their factories.

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Daily Real Estate News Highlights Vietnam - 03 October 2019

Thu Thiem transforms from a marsh to the liveliest real estate market in HCMC

News Zing From a marshland with unimpressive population, Thu Thiem Peninsula (District 2, HCMC) has rapidly transformed after having infrastructure developed. At present, real estate market in Thu Thiem is the most thriving Thu Thiem transforms from a marsh in HCMC. According to Nguyen Van Duc, Director of Dat Lanh Real Estate, to the liveliest real estate market in property prices in Thu Thiem and District 2 in general have grown very HCMC fast in the past decade.

Investment opportunity of Bau Bang Real Estate

24h Despite being founded only five years ago, Bau Bang District has been oriented by Binh Duong Province to focus on developing industry and trade – service sectors. This direction allows Bau Bang to become an investor magnet. The local government’s target for Bau Bang is to become Investment opportunity of Bau Bang Real Estate an industrial center, and a satellite city in the Northern region, contributing to promoting Binh Duong to become Type-1 City in 2020.

IFCbuys Phu My Hung’s bonds to support township development

Vietnam Economic Times The IFC, a member of the World Bank Group, is supporting the Phu My Hung Development Corporation to expand housing projects to secondary provinces in Vietnam, improving access to quality housing as well as education and healthcare services for local residents. The aim is to promote integration and inclusive growth around Vietnam. It has subscribed to around $75 million in bonds issued by Phu My Hung.

Vietnam economy remains resilient despite external shocks: ADB

VnExpress Vietnam’s economy is forecast to grow at 6.8 percent this year despite a weaker external environment, the Asian Development Bank said Wednesday. “Despite a slowdown in export growth due to the escalation of the trade conflict between the U.S. and China and the consequent downturn in global trade, the economy remains healthy thanks to continued strength in domestic demand and sustained inflows of foreign direct investment,” ADB country director for Vietnam Eric Sidgwick.

Transport ministry cancelled international bidding for North-South Expressway, seeks bids from domestic investors

The Voice Of Vietnam The transport ministry announced on Monday they would cancel open international bidding for eight projects of the North-South expressway, in favour of homegrown investors. The decision was made on the consensus reached after consulting relevant agencies, the transport ministry said in an announcement sent to the media, adding that it would adjust pre-qualification bidding invitations to better suit open domestic bids for eight public-private-partnership (PPP) projects for the eastern section of the trans-Viet Nam highway.

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Daily Real Estate News Highlights Vietnam - 07 October 2019

Top 5 - Daily Updated Real Estate News Colliers International’s Residentail Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

HCMC modifies planning of Tay Bac urban areas, Sai Gon Safari and 10 precincts along Saigon River

CafeF HCMC People’s Committee has recently appointed the municipal Department of Planning & Architecture to propose a modification of planning on HCMC North West urban area, Saigon Safari and 10 other precincts along Saigon River. The plan is to design the future urban plan in the city’s North West to accommodate the increase in population from HCMC modifies planning of Tay Bac urban areas, Sai Gon Safari and 10 300,000 to 600,000 people. precincts along Saigon River

Japanese firm expands industrial park in Viet Nam

Vietnam News Japan’s Sumitomo Corporation will spend more than 14 billion yen (US$129.7 million) to expand its Thăng Long Industrial Park II in the northern province of Hung Yen. With an additional area of 181ha, the site which already spans 346ha will be one of the biggest Japanese industrial parks in Viet Nam. Groundbreaking is scheduled for 2021, with lots going on sale in 2022, the company said in a statement.

Japanese firm expands industrial park in Viet Nam

Vietnam Growth Forecasts Upgraded

Vietnam Insider Gross domestic product rose 7.31% from a year earlier, up from a revised 6.73% in the second quarter, the General Statistics Office in Hanoi said Saturday. That compared to a median estimate of 6.7% in a Bloomberg survey of four economists. The economy expanded 6.98% in the nine months through September from a year earlier, data from the statistics office showed. “Manufacturing is the main driver of economic growth in the first nine months of the year, followed by services,” Nguyen Bich Lam, head of General Statistics Office, said at Hanoi briefing on Saturday.

Vietnam Dealbook: JC&C to buy 10% in REE; Samsung SDS ups stake in CMC

Deal Street Asia Jardine Cycle & Carriage Limited announced that it has received approvals for its public tender offer to acquire up to 10.11 percent stake in Vietnam’s REE while Samsung SDS has bought 5 percent stake in Vietnamese IT major CMC Corporation. JC&C gets approval to acquire 10.11% stake of REE Singapore-listed automotive group Jardine Cycle & Carriage Limited announced that it has received regulatory approvals for its public tender offer to acquire up to 10.11 percent stake of Vietnam’s Refrigeration Electrical Engineering Corporation (REE).

Novaland receives $20 million to develop Novaworld Mekong project

Vietnam Investment Review Novaland Group has just received $20 million from Deutsche Investitions - Und Entwicklungsgesellscheft Mbh (DEG) - Reconstruction Bank to develop its Azerai Can Tho Resort on Au Island in Can Tho city. This is a one of the initiative project of NovaWorld Mekong leisure and tourism complexes that Novaland will develop in the Mekong Delta region. At the same time, DEG also signed a Memorandum of Understanding on the provision of travel quality standard consulting services for the NovaWorld brand.

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Daily Real Estate News Highlights Vietnam - 08 October 2019

New drive in smart city development

Vietnam Investment Review A modern city with many public facilities and utilities serving people, suitable investment attraction, and effectively supporting the policy of relaxing Hanoi’s inner city are the targets of a smart city project in accordance with the development master plan of the Nhat Tan-Noi Bai Urban areas north of the Red River area. In the Fourth Industrial Revolution era, investing in smart cities is can be revitalised through smart not only a trend but also a new drive for developing urban areas. city concepts.

King Bay Nhon Trach - new highlight of Saigon riverside property projects

Vietbao In recent time, Nhon Trach District in HCMC has been attracting investors from Hanoi who speculates a high land value increase. Located in Long Tan Commune, Precinct 1 of a new township in Dong Nai Province, King Bay project covers 125 hectares and is anticipated to become a highlight of the township. King Bay is a high-end eco-township with sufficient utilities for residents and people from adjacent neighbourhood.

High-class green urban neighborhood along King Bay River will be the center of Nhon Trach urban core Chartered area. Market. Vietnam sixth in word’s trade growth potential ranking list: Standard

Vietnam Insider Vietnam ranks sixth out of 66 economies with the greatest trade growth potential due to its improving trade readiness, a study says. The Trade20 Index recently released by British lender Standard Chartered Bank ranks 20 economies out of the 66 based on 12 metrics across three pillars: economic dynamism, trade readiness and export diversity. The economic dynamism pillar was measured by inward foreign direct investments (FDI), export volume growth and GDP growth.

Vietnam attractive to investors: Russian expert

Vietnam Plus Vietnam has emerged as an attractive destination to investors thanks to its rapid economic growth and high business profits, said Vladimir Potapov, CEO of Russia’s VTB Capital Investments and Senior Vice President of VTB Bank. Its geological location, mineral, and labor resources have supported Vietnam’s economic growth effectively, he told the press on September 29. He highlighted the country’s huge potential to raise profits of businesses and spur the growth of the stock market.

Bac Giang-Lang Son Expressway opens to traffic

Nhan Dan Bac Giang-Lang Son Expressway was opened to the public this week, enhancing trade and attracting more investment to the border province of Lang Son. The opening of Bac Giang-Lang Son Expressway has reduced travel time from Hanoi to Lang Son from 3.5 to 2.5 hours. The expressway will help reduce traffic congestions on National Highway 1 and boost local production and development. It runs from National Highway No.1’s section between Mai Sao commune in Chi Lang district of Lang Son to and Hanoi-Bac Giang area, in parallel to a strip of National Highway No.1A.

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Daily Real Estate News Highlights Vietnam - 09 October2019

The inflow of foreign investment capital into Vietnam rebounds

Vietnam Insider According to a report by General Statistics Office, Vietnam attracted nearly 2,760 new foreign-invested projects with a total registered capital of $10.9 billion, up 26 percent in the number of projects but down 22 percent in the level of capital over the same period last year.

The inflow of foreign investment capital into Vietnam rebounds.

Real estate in Ho Chi Minh suburb expanded: Long An is emerging

Nha Dau Tu It can be said that the development of the inter-regional infrastructure system in the Southern provinces is being strongly invested, among which Long An is the gateway of Mekong Delta, connecting directly with Ho Chi Minh City. According to experts, Long An borders nearly 100 kilometers around the West of Ho Chi Minh City with a relatively large land fund, making the province suitable for developing satellite towns to implement the plan of expanding population to the outskirts of Ho Chi Minh City.

Real estate in Ho Chi Minh suburb expanded: Long An is emerging.

Housing prices rise slightly in third quarter

Vietnam Investment Review Housing prices in Ha Noi and HCM City increased slightly in the third quarter, according to an annual report from the Ministry of Construction released at a press conference on Monday. Compared to the second quarter, apartment prices in Ha Noi rose by 0.21 per cent, while the price of individual houses increased by 1.25 per cent. In HCM City, the price of apartments increased by 0.7 per cent in the country, while the price of individual houses rose by 2.7 per cent, compared to the second quarter of this year.

Hong Kong becomes largest investor of Vietnam in nine months

Vietnam Net Hong Kong (China) topped 109 countries and territories investing in Vietnam in the first nine months of this year with total capital of $5.89 billion, reported the General Statistics Office (GSO). According to the office, of the total investment, 3.85 billion USD was poured into a deal with Vietnam Beverage JSC in Hanoi, accounting for 65.4 percent of the total. Hong Kong was followed by the Republic of Korea with 4.62 billion USD, accounting for 17.7 percent of the total foreign direct investment (FDI) that Vietnam attracted so far this year. Singapore ranked third with 3.77 billion USD, or 14.4 percent of total FDI in nine months.

Luxury Vietnam apartment owners left hanging as land seized

Bloomberg A luxury residential project jointly developed by Novaland Investment JSC, one of Vietnam’s biggest property firms, is in limbo. Novahome Madison JSC sent letters to buyers of its Madison project in Ho Chi Minh City last month, saying the 187 apartments couldn’t be handed over because of a force majeure event that resulted in the land being seized by the government.

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Daily Real Estate News Highlights Vietnam - 10 October 2019

Smart city challenges Gov’t and localities

Vietnam News In efforts to embrace the fourth industrial revolution (Industry 4.0), cities and provinces in Viet Nam are pushing smart city programmes, combining technology with internet-connected devices to enhance municipal management and economy. Smart cities, with new technologies and A corner of HCM City. The city is integration based on sensor collection and analysis of data, are expected applying technology solutions to beto drive economic, environmental and social benefits in many cities and come a smart city in the future. provinces in Viet Nam.

‘Ghost month’ spooks resort real estate sector

VnExpress Supply and consumption of condotels and resort villas fell by double digits in Q3 as the ‘ghost month’ held investors back. A report by real estate firm DKRA Vietnam says just three seaside villa projects were released into the market during the third quarter this year, supplying 86 new villas, Nha Trang Town in central Khanh down 95 percent compared to the previous quarter. Of these, 58 units Hoa Province is home to many condotel projects. were bought, down 96 percent over the second quarter.

Hanoi starts work on smart city project

The Saigon Times The smart city project in Dong Anh District of Hanoi City executed by BRG Group and Japan’s Sumitomo Corporation with more than US$4.1 billion in investment, is the biggest foreign-invested real estate project in Vietnam. On September 11, Dong Anh District authorities held a meeting with local residents to consult with them over adjustments to the project. Accordingly, 271 hectares of land of nearly 1,500 households will be taken back to make room for the project. It will be executed in five phases between now and 2028.

Vietnam and UK commit to further strengthen trade ties

Vietnam Insider The 11th meeting of the UK-Vietnam Joint Economic and Trade Commission (JETCO) was held in Ha Long Bay today. Discussions focused on a range of issues including bilateral trade and investment ties, cooperation in education, healthcare, energy, agriculture and financial services. Trade Policy Minister Conor Burns and Vice Minister of Industry and Trade Hoang Quoc Vuong agreed to further collaboration on issues currently preventing UK businesses trading in Vietnam.

Why Vietnam ranks eighth among top 20 countries to invest in

Vietnam Investment Review Vietnam’s transformation efforts fetched it the eighth position among the top 20 best countries to invest in by US News & World Report. This is a remarkable improvement against the 23rd position last year, surpassing neighbours like Malaysia, Indonesia, and Singapore. Transparency International, the global civil society organisation leading the fight against corruption, ranked Vietnam the 117th amongst 180 countries and territories in its latest 2018 Corruption Perceptions Index (CPI), dropping 10 places compared to 2017.

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Daily Real Estate News Highlights Vietnam - 14 October 2019

New product lines appear: Long-term coastal apartments

CafeF In the first haft of 2019, only about 25% of condotel on the market are sold. The reason why this market has been inactive is because the unclear legality of the condotel model and also the fact that several developers have failed to keep their promises of providing great return of investment and short term rental yield. However, the demand of investors is still remarkable.

New product lines appear: Longterm coastal apartments.

Work kicks off on $4.2 billion smart city in Ha Noi

Bizhub Work has started on Ha Noi’s first smart city project in Dong Anh District, with an investment capital of more than US$4.2 billion. Prime Minister Nguyen Xuan Phuc, leaders of ministries, branches and Japanese officials attended the event to mark the beginning of construction yesterday. The Prime Minister Nguyen Xuan Phuc project, the largest in the country invested by a joint venture between BRG and delegates at the ground-breaking ceremony of Ha Noi’s first Group and Sumitomo Corporation of Japan. smart city in Dong Anh District.

Vietnam and Cambodia target $5 billion in two-way trade turnover

Vietnam Investment Review Based on the achievements of the relationship and co-operation between Vietnam and Cambodia, the heads of the two countries’ governments believe that the $5 billion target in two-way trade turnover could be reached a year earlier than expected. On the occasion of the official visit by Prime Minister of the Kingdom of Cambodia Samdech Techo Hunsen and a high-level delegation to Vietnam, the Ministry of Planning and Investment (MPI) in collaboration with Ministry of Industry and Trade.

New land coefficient approved for urban infrastructure upgrades

Vietnam News The HCM City People’s Committee has approved new figures to pay compensation and calculate new land prices in urban infrastructure upgrade project areas. In order to calculate the compensation to be paid, the land price will be multiplied by the new coefficient. The coefficients for different land categories are revised to ensure set land prices are closer to market prices. The coefficient for land in an embankment project in Rach La Hamlet in Can Gia District, for example, will be adjusted to 9.75 for residential land and 7.9 for agricultural land.

Vietnam is seen as an increasingly attractive investment destination to Korean businesses

Vietnam Insider Korean investors are keen to invest in high technology and renewable energy due to the incentives that Vietnam has offered to foreign investors. “The country is a potential market for foreign businesses, including Korean investors, because of the similarities in culture between the two countries,” he said. In addition, Vietnam’s demand for high-tech products is expected to increase over the years as young Korean businesses want to promote cooperation in the future, according to Gangsun.

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Daily Real Estate News Highlights Vietnam - 15 October 2019

Vietnamese investors snapping up overseas property projects

Vietnam Investment Review As Vietnamese people are increasingly making overseas property investments, foreign developers from Europe, the US, and Asia are flocking to Vietnam to introduce their property products. Vietnam is emerging as Greece is the most popular investa potential market for foreign developers thanks to the country’s rising ment destination among Vietnamaffluent class and expanding disposable income. ese property buyers.

Construction firm to raise US$50 million from bond sale

Vietnam News Hòa Bình Construction Group JSC (Hòa Bình Group) plans to raise US$50 million from a corporate bond sale to settle short-term debts, increase working capital and invest in overseas projects. The plan will be submitted to shareholders at the next annual meeting for approval. In the first six months of 2019, the company had VNĐ15.9 trillion in total assets, up by VNĐ28 billion from the beginning of the year.

Vietnam up 10 places in Global Competitiveness Index

A real estate project constructed by Hòa Bình Construction Group.

Vietnam Plus The World Economic Forum (WEF) has ranked Vietnam as the 67th most competitive economy in its latest report released on October 9. Vietnam scored 61.5 out of a possible 100, moving up ten places from the 2018 ranking. The WEF said the Southeast Asian country is attracting a huge flow of foreign investment and becoming a trade hub in the region.

Hanoi performs well as economic locomotive of Vietnam

The Voice Of Vietnam Hanoi’s efforts to boost economic development have paid off, cementing the capital’s place as an economic locomotive of Vietnam. Hanoi is not only the political – administrative centre and a major cultural, scientific and educational hub of Vietnam, but also one of the country’s two economic driving forces. Director of the municipal Department of Planning and Investment Nguyen Manh Quyen said to perform its role, the city has stepped up economic restructuring associated with growth model reform to improve its economy’s quality, effectiveness and competitiveness.

After the peak season, how are real estate markets in Quang Ninh, Da Nang, Nha Trang and Phu Quoc now?

The Voice Of Vietnam On October 10, Vietnam Realtors Association held a press conference to announce the Third Quarter Real Estate Market Report. At the conference, Mr. Nguyen Van Dinh - Vice Chairman of Vietnam Realtors Association said many real estate markets have witnessed a serious decline after the peak. Specifically, Mr. Dinh mentioned that some areas where the real estate market has developed strongly in the past few years, such as Da Nang, Nha Trang, Quang Nam, and some other regions across the country showed signs of great decline due to government regulations, credit capital, and interest rate issues.

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INDUSTRIAL & RESIDENCE DEVELOPMENT LAND Phuoc Binh Commeune, Long Thanh District, Dong Nai Province

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1 hr 33 mins driving

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INDUSTRIAL SECTION

1,990,310.5 SQ. M

100%

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Land for Factories

1,373,314.2 sq. m

69%

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Land for Services, Management and Support

99,515.5 sq. m

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Land for Technical Purpose

39,806.2 sq. m

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Land for Transportation

199,031.1 sq. m

10%

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Land for Landscaping (Green area, water-surface, etc.)

278,643.5 sq. m

14%

RESIDENTIAL SECTION

2,364,577.5 SQ. M

100%

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Land for Residential

1,371,455.0 sq. m

58%

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Land for Mixed-use

189,166.2 sq. m

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Land for Transportation

425,624.0 sq. m

18%

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Land for Landscaping (Green area, park, water-surface, etc.)

378,332.4 sq. m

16%

TOTAL

4,354,888 SQ. M

100%

Daily Real Estate News Highlights Vietnam - 16 October 2019

PM issues measures for sustainable development of northern key economic zone

The Voice Of Vietnam Prime Minister Nguyen Xuan Phuc has signed the Directive 25/CT-TG on measures to promote sustainable growth and development of the northern key economic zone. The northern key economic zone, comprising of the A corner of Hai Phong city, a localcapital city of Ha Noi, Hai Phong city, and the provinces of Quang Ninh, ity for development of key economic zone. Hai Duong, Hung Yen, Vinh Phuc and Bac Ninh, is the political, economic, cultural and defence-security centre of the country.

Strict penalties needed to fight fraudulent property firms

The Saigon Times It is necessary to develop strict penalties to combat those operating fraudulent real estate businesses to protect the legitimate rights of consumers and legitimate firms, according to executives from real estate firms and experts. The HCMC government has urged the Ministry of Construction to propose new Government regulations forcing real estate firms to publicize information about their projects and impose heavy penalties on those deliberately violating these regulations.

Real estate projects in HCMC. Heavy penalties are needed to address violations by fraudulent property firms.

Work to start on $237-million southern expressway in 2021

VnExpress Vietnam Real Estate Brokers Association has just summarized and commented on the real estate market situation in the third quarter of 2019. According to the Association’s report, the third quarter of 2019 continued to show a decrease compared to the same period in 2018. In Hanoi, the market showed a decline in both supply and transactions compared to the second quarter and the same period in 2018.

Different situations in the two largest real estate markets in the country

Vietbao Vietnam Real Estate Brokers Association has just summarized and commented on the real estate market situation in the third quarter of 2019. According to the Association’s report, the third quarter of 2019 continued to show a decrease compared to the same period in 2018. In Hanoi, the market showed a decline in both supply and transactions compared to the second quarter and the same period in 2018.

Vietnam’s economy is broadly positive despite persistent downside risks: WB

Vietnam Insider According to the report of East Asia and Pacific Economic Update by the World Bank (WB) released on October 10, themed “Weathering Growing Risks” it said, Vietnam’s GDP expansion is projected to decelerate from 7.1% in 2018 to 6.6% in 2019, reflecting slower export growth and weaker agricultural production growth. Growth is expected to further moderate in 2020 and 2021 to a more sustainable pace of 6.5%, in line with potential output. Over the forecast horizon, inflation is predicted to stay below the government’s 4% target, and the current account is estimated to sustain a smaller surplus, according to the WB.

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Daily Real Estate News Highlights Vietnam - 17 October 2019

Top 5 - Daily Updated Real Estate News Colliers Internationalâ&#x20AC;&#x2122;s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Vietnam among rising stars of global trade: Standard Chartered

Bizhub Viet Nam has been named one of the rising stars of global trade with the sixth position among the top 20 markets with the greatest potential for future trade growth, according to a recent report by Standard Chartered. With this ranking, the country is also the best performer among the ASEAN nations, the Trade20 index, which examined 66 economies, shows.

HCM Cityâ&#x20AC;&#x2122;s financial district.

HCM City housing prices rise on shortage of new supply

Vietnam Investment Review Housing prices continue to rise rapidly in HCM City because of a shortage of new supply, increasing population and lack of transport infrastructure in outlying areas. It has become very difficult to find apartments for less HCM City suffers from a housing than VND 2 billion (US$ 85,500) in the city. Prices are up 5-10 per cent shortage caused by a rapidly rising compared to just six months ago. At one apartment project in District 1, an population and shortage of new projects. 85sq.m two bedroom unit costs VND 21 billion (nearly $900,000).

North-South Expressay: Vietnam lowers criteria for local investors

VnExpress The Transport Ministry has opened a new evaluation round for local investors for the North-South Expressway after lowering the experience and capital criteria. The evaluations are expected to be completed by next February, the contractor identified by August, and the tendering process completed by November, the report said. In case there is no suitable investor, the ministry will make a proposal to the government to switch to public investment.

Hoang Anh Gia Lai gives up real estate dream

Vietnam Insider The fourth richest billionaire of Vietnam, Tran Ba Duong, will become the developer of a huge real estate project in Myanmar instead of Doan Nguyen Duc, chair of Hoang Anh Gia Lai Group, who is now focusing on agricultural production. The resolution of the Board of Management of Hoang Anh Gia Lai Group (HAG) released recently shows the decision to transfer 196 million shares, which account for 47.9 percent of charter capital of Hoang Anh Housing Development and Construction JSC, or HAGL Land (HAN) to Dai Quang Minh Real Estate.

Vinh Phuc: ideal destination for foreign investors

Vietnam Plus The northern province of Vinh Phuc has been an ideal destination for investors thanks to its geographical location and preferential policies for investment attraction. Over the years, Vinh Phuc has been focusing on luring foreign direct investment (FDI), and this year the province has been sending delegations overseas to promote investment for the region. In September this year, the locality coordinated with the Vietnamese embassies in the Netherlands and the US to organise seminars introducing investment and cooperation opportunities in Vinh Phuc.

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Daily Real Estate News Highlights Vietnam - 18 October 2019

International integration and the associated opportunities of Vietnam

Vietnam Insider According to Asia Outlook Magazine, the year is 1985 and Vietnam was one of the poorest countries in the world. The country had been left in a state of disrepair after the end of the 20-year war, and the subsequent centralised five-year plans implemented by the Vietnam Communist Party were doing little to steer the country into a new prosperous era, with GDP per capita estimated at between $200 and $300.

Illegally built hotel in Ma Pi Leng Pass closes

VnExpress The illegally built hotel in Ma Pi Leng Pass of northern Ha Giang Province put up a sign on Monday saying it was closed. Authorities in Meo Vac District, where the Panorama Hotel is situated, ordered the hotel to stop all services pending an official decision.

Singapore’s DBS Bank may soon fund a future coal-fuel power station in central Vietnam

International integration and the associated opportunities of Vietnam.

A drone shot of the Panorama Ho tel in Ma Pi Leng Pass of Ha Giang Province, in northern Vietnam.

Vietnam Insider A future coal-fuel power station in central Vietnam may soon be funded by Singapore’s DBS Bank, according to environmental groups familiar with the matter. This is despite DBS announcing in April that it will stop financing new coal-fired power plants after honoring existing commitments. In a letter to DBS chief executive Piyush Gupta , a group of Japanese and Australian environmental groups – including Kiko Network and Mekong Watch – urged DBS to reconsider funding Vung Ang 2 power station.

Vietnam pledges optimal conditions for UAE businesses The Voice Of Vietnam

The Vietnamese Government is willing to create favourable conditions for foreign investors, including those from the United Arab Emirates (UAE), Minister of Industry and Trade Tran Tuan Anh stated during the Vietnam-UAE business forum in Hanoi on October 15. Speaking at the event, the UAE Minister of Economy Sultan Bin Saeed Al Mansoori emphasised that aside from promoting two-way trade, the UAE can serve as a strategic “gateway” for Vietnamese businesses looking to tap into the markets of other Middle East nations. Saigon Co.op to develop Sense City in hi-tech park The Saigon Times The Saigon Union of Trading Co-operatives (Saigon Co.op) on October 14 signed a cooperation deal with East Saigon DSG Company to develop a Sense City shopping mall in the Saigon Hi-Tech Park (SHTP) in District 9, HCMC. Sense City District 9, also known as Sense City East Saigon, will be located on the axis road D2 in the hi-tech park, with a total floor area covering over 50,000 square meters. The facility will include four stories and one basement. Saigon Co.op, Saigon Co.op Investment Development JSC.

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Daily Real Estate News Highlights Vietnam - 21 October 2019

HORASIS Binh Duong – attractive destination for foreign investors

Vietnam Investment Review The Asian Economic Cooperation Forum (HORASIS) has not only brought investment opportunities and other advantages for domestic and foreign investors but helped raise Binh Duong into a member of many prestigious international organisations. With HORASIS, Binh Duong has become part of the World Trade Center’s Association (WTCA), as Binh Duong New City Trade Centre was added by the WTCA as its newest official member.

Render of the Binh Duong New City’s World Trade Centre.

Vietnam stands out in ASEAN trade growth

Vietnam Insider Vietnam shows the strongest progress in trade growth potential in ASEAN, driven by improvements to its trade readiness and economic dynamism, according to Standard Chartered’s newly-published research Trade20 Index. According to the study, economic and political reforms over recent decades have spurred Vietnam’s economic growth, bolstered by strong domestic demand and manufacturing-led export success.

Vietnam stands out in ASEAN trade growth.

Vietnam ready to open its door to foreign enterprises

The Voice Of Vietnam Deputy Prime Minister Vu Duc Dam affirmed the Vietnamese Government’s readiness to open its door to foreign businesses in his address at the Vietnam Business Summit 2019 held in Hanoi on October 16. In his speech, Dam suggested businesses should pay greater attention to infrastructure, finance, banking, land as well as human training. Vietnam’s economic growth was placed second globally as announced by the World Bank, making the nation a destination for numerous enterprises from across the globe.

Vietnamese begin investing abroad to diversify portfolio

Bzhub More and more Vietnamese are looking for opportunities to invest in property abroad to diversify their portfolio, according to experts. Speaking at a recent seminar on Global Property Investments held in HCM City by Denzell, Barry Winter, director – Southeast Asia at Pafilia, the largest privately-owned residential developer in Cyprus, said: “We have been here for almost three and half years in Viet Nam.

US agricultural exporters on mission to seek trade opportunities in Viet Nam

Vietnam News More than 40 US exporters and trade associations are visiting Vietnam from Tuesday to Friday to seek agricultural export opportunities in “one of the fastest-growing regions in the world”, a US official said. Ted McKinney, undersecretary for trade and foreign agricultural affairs at the US Department of Agriculture, is leading the agricultural trade mission in HCM City. McKinney said that US firms were very keen on enhancing opportunities available in Asia. About 80 industry and government representatives, including the US Soybean Export Council and US Grains Council, are part of the mission.

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Daily Real Estate News Highlights Vietnam - 22 October 2019

Da Nang approves master plan for high-tech park development to 2030

Vietnam Investment Review Da Nang People’s Committee has just approved the overarching project for the development of Danang High-Tech Park by 2030. the master plan was enacted with a view to helping the city mobilise resources from the central to the local level. It also aims to form effective co-ordination between the Da Nang High-Tech Park Management Board and city-based industrial parks with the concerned agencies and units in the city and other localities in the central and Central Highlands regions.

Da Nang approves master plan for high-tech park development to 2030

Spain looks into further investment in Vietnam

Vietbao 2019 marks the 42nd anniversary of the establishment of Spanish and Vietnamese diplomatic relations, and the 10th anniversary of building strategic partnership in the future. Over the past 42 years, Vietnam and Spain looks into further investment Spain have inked diverse co-operation agreements and deals. Hoang in Vietnam Quang Phong, vice president of the Vietnam Chamber of Commerce and Industry (VCCI), said Vietnam is Spain’s main trade partner in the ASEAN, with two-way trade turnover increasing by 15-20per cent per year on average.

VietNam National Innovation Centre urged to complete

Bizhub Viet Nam is under pressure to keep up with Thailand after they opened the largest high-tech centre in Southeast Asia. Viet Nam has just approved building the Viet Nam National Innovation Centre (NIC), but the country needs to build and promote it to keep up with their neighbours. Prime Minister Nguyen Xuan Phuc requested the ministries of planning and investment, science and technology and industry and trade to study the high-tech centre in Thailand. True Digital Park is invested by Charoen Pokphand (CP) Group, with an area of more than 200,000 square metres.

Vietnam always opens its door to foreign enterprises

Vietnam Insider He highlighted that Vietnam’s economic growth ranked second globally as announced by the World Bank, making the country a destination for many firms across the world. The official suggested that businesses should pay attention to infrastructure, finance, banking, land as well as workforce training. Vietnam is now ready for the fourth industrial revolution, he said, adding that the country has stepped up the aplication of information technology in diverse areas, with improving information safety and security. President of the Vietnam Chamber of Commerce and Industry Vu Tien Loc said prestigious international organizations are optimistic about Vietnam’s economic growth. Up to 90 percent of domestic and foreign business community expressed their belief that business climate will become better in the near future.

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Daily Real Estate News Highlights Vietnam - 23 October2019

Southeast Asia develops major property projects, but demand is declining

Nhip Song Kinh Te The first wave of property development in Southeast Asia is driven by foreign investors, thanks to capital supply coming from liberated monetary policies. Mari Kumagai, top research director of Colliers International Japan, said: “When this capital flow is directed from overseas, property projects in the world, especially Southeast Asia, will become larger and larger in scale.” However, many real estate markets in Southeast Asia has grown too hot, and has begun to show signals of stagnancy.

Southeast Asia develops major property projects, but demand is declining

Vietnam’s Ho Chi Minh City is well-positioned to develop into a global financial centre

Vietnam Insider The aim of the Ho Chi Minh City Economic Forum was to whip up capital support for the construction of a plan to develop Ho Chi Minh City into a global financial centre. This plan was assigned by Ho Chi Minh City Finance and Investment State-owned Company and Fulbright School of Public Policy and Management (Fulbright).

Vietnam’s Ho Chi Minh City is well-positioned to develop into a global financial centre

PhuQuoc: turn the table, promote mid-range hotel on the southern island

Dan Tri The demand for mid-range accommodation option is high but there are little to none 3-star options around the South of Phu Quoc.The shophouse row of Boutique Shophouse Melodia – a project under Sun Premier Village Kem Beach Resort - is sought after by secondary investors thanks to having a prime location for mid-end hotel business, as well as to provide tourism services.

Vietnam, Asia’s new manufacturing hub

Vietnam Investment Review Since its emergence early last year, the US-China trade conflict has not shown signs of easing. Companies are increasingly concerned about the impact of trade tariffs and other trade protection measures, with many actively planning to divert their production from China. These issues were discussed at a conference titled “From manufacturing in Vietnam to Made-in-Vietnam products” on Thursday. Meanwhile, Vietnam has emerged as a prime manufacturing location in Asia. Vietnam’s economy expanded 7.1 per cent last year, the fastest growth in the past decade.

Apartment prices rising faster than rents in Saigon

VnExpress In the third quarter, 85-90 square meter apartments had an average selling price of VND37 million ($1,600) per square meter, up 11.8 percent over the same period last year, according to a recent survey conducted by real estate trading site Batdongsan.com.vn.Meanwhile, apartments the same size had an average listed rental price of VND14.2 million ($614) per unit per month, a year-on-year increase of 5.4 percent.

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Daily Real Estate News Highlights Vietnam - 24 October 2019

Singapore high-end property market heats up

Tin Nhanh Chunng Khoan In first 9 months of 2019, about 315 high-end apartments in central areas of Singapore are purchased by foreigners, according to Colliers International Group Inc. This figure shows that high-end property market in the island of sea lion has rebounded after Singapore government applied solutions Singapore high-end property marto cool down the market since July 2018. ket heats up

Vietnam allocates US$4.7 billion for Phase 1 construction of new mega airport

Hanoi Times During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually. Total investment capital for the construction of Long Thanh International Vietnam allocates US$4.7 billion for Airport is estimated at VND111.69 trillion (US4.77 billion) in the first phase, Phase 1 construction of new mega airport according to Minister of Transport Nguyen Van The.

Vietnam is one of the easiest countries to start a business in Southeast Asia

Vietnam Insider Vietnam is a relatively unknown place to many foreigners, so they feel it must be difficult, but in fact, it is one of the easiest places to start a business in Southeast Asia, said Prakash Jhanwer, president, South East Asia & China, at Olam – a leading food and agri-business company in the world. Hanoi Times reports. Olam is originally Nigerian but is now based in Singapore. It is a multinational agribusiness which uses Vietnam as a “center of excellence” for its Asian trade operations, a hub from which it imports commodities from all over the world, processes them, and then redistributes products throughout the region. In a podcast with CEO of ANZ Shayne Elliot, Prakash said a big advantage was Vietnam’s absence of tariffs and its position as a “gateway” to ASEAN.

South African businesses seek partnership in Vietnam

Vietnam Investment Review Vietnam is one of the promising strategic markets for South African businesses, heard the Vietnam-South Africa business conference in Ho Chi Minh City on October 21. Valentine Naidoo from South Africa’s Department of Trade and Industry said Vietnam has been considered a major and important trade partner of South Africa. South African firms see Vietnam as a promising market with trade and investment cooperation potential, she said, adding that Vietnam is also a gateway for South African goods to access Southeast Asian countries. Jacobus Rreinier Grove from Rukou Beverages said that both South Africa and Vietnam are strong in agricultural production, but with different product structure, thus both sides can collaborate to promote trade and giving more choices to consumers.

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Daily Real Estate News Highlights Vietnam - 25 October 2019

Vietnam guarantees foreign investor rights with amended laws

Vietnam Insider Vietnam’s amended laws on Investment and Enterprises should include regulations to assure rights and benefits of investors even when policies are changed, as they play a key role in attracting foreign investments. In the context of international integration and fluctuations, some shortcomings have been revealed in the current Investment and Enterprise Law, which have taken effect since 2014, so government agencies must acknowledge these when making amendments to the laws.

Vietnam guarantees foreign investor rights with amended laws

Smart city to boost sustainable growth and prosperity

Vietnam News Smart city building is a crucial solution to boost economic growth and prosperity in Viet Nam, while investing in ‘smart city’ projects is the best way for Viet Nam to digitalise, an expert has said. Chairman of the Viet Nam software and information technology service association (VINASA), Truong Gia Binh made the statement at the opening ceremony of the Smart City Summit in Da Nang City yesterday, stressing smart city development is crucial.

Smart city to boost sustainable growth and prosperity

Vietnamese banks issue more international bonds this year

Vietnam Net Commercial banks are issuing international bonds because they need foreign currencies to satisfy dollar capital demand. SeABank said it is collecting shareholders’ opinions about the plan to issue $400 million worth of bonds in the international market this year. These are inconvertible bonds, with no mortgaged assets and warranty, with a maturity term of five years. The interest rates of the bonds will be revealed in every issuance campaign.

PM welcomes SoftBank’s investment expansion in Vietnam

Vietnam Plus Prime Minister Nguyen Xuan Phuc welcomed SoftBank – the largest financial services group of Japan – to expand investment in Vietnam, which has an increasingly improved business environment and the fastest economic growth in the region and the world. PM Phuc, who was in Japan to attend the enthronement ceremony of Emperor Naruhito, hosted a reception for SoftBank Group Corp’s Chairman and CEO Masayoshi Son in Tokyo on October 22.

Mega project invites domestic investors to bid

Bizhub The mega infrastructure project North-South Expressway has started inviting domestic enterprises to apply for bidding, a month after the Ministry of Transport ruled foreign companies ineligible to participate in the project. The Ministry of Transport’s Public-Private Partnership Department deputy director Nguyen Viet Huy said the expressway had attracted several Vietnamese firms looking to participate in the projects.

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Daily Real Estate News Highlights Vietnam - 28 October 2019

Hong Kong businessman pays almost US$1 million for parking space

Vietnam Investment Review Hong Kong might be heading for recession after months of violent protests but that hasn’t stopped one businessman from forking out almost US$1 million for a parking spot. The mind-boggling sum paid to businessman Johnny Cheung Shun-yee highlights the gaping inequality that has helped fuel nearly five months of demonstrations in the financial hub, where one Hong Kong has been hit by months of sometimes violent protests that in five people live below the poverty line. have hit the city’s property sector

Gov’t takes tighter control over large-size real estate projects

Bizhub The Government will continue to tighten credit in the real estate industry, requiring the Governor of the State Bank of Viet Nam (SBV) to report to the Government quarterly in case of outstanding loans for a real estate Real estate loans accounted for 19.14 per cent of the total outstandfirm or a realty project valued at more than VND5 trillion (US$215.22 ing loans as of September 30 million).

Vietnam targets to raise contribution of digital economy to 20% of GDP by 2025

Vietnam Insider A recent report on Southeast Asia’s internet economy by Google and Temasek showed that Vietnam’s digital economy is estimated at US$12 billion in 2019 and could rise to US$43 billion by 2025. In an earlier report, Google and Temasek rated Vietnam’s digital economy at US$9 billion, behind Indonesia, Malaysia, the Philippines, Singapore and Thailand. But Vietnam’s digital economic growth rate is remarkably high at 25%, second only to Indonesia in Southeast Asia.

WeWork accepts multi-billion-dollar Softbank rescue deal

BBC WeWork has been thrown a multi-billion-dollar lifeline from Softbank that will give the Japanese company more control of the troubled property start-up. In a statement, Softbank said it would provide $5bn (£3.9bn) in new financing and up to $3bn for existing shareholders. The deal will see Softbank increase its stake in the US office-space sharing start-up to roughly 80%. Co-founder Adam Neumann will leave the board but retain “observer” status.

Supporting Vietnamese enterprises to make overseas investment

Nhan Dan Online In recent years, the government has introduced a number of policies to support Vietnamese enterprises in overseas investment in order to expand their businesses, enhance their competitiveness and increase their international integration. However, as the flow of Vietnam’s overseas investment grows, several issues have emerged, causing several of Vietnam’s foreign investment projects to encounter barriers and record less than expected results.

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Daily Real Estate News Highlights Vietnam - 30 October2019

Takashimaya bullish about profit potential in Southeast Asia

Inside Retail Asia Japanese department-store operator Takashimaya is banking on its Vietnam and Thailand flagships to drive growth this year as it seeks to achieve profitability in its Southeast Asian business. To date, Singapore has been the sole profitable store outside Japan, but this financial year the Takashimaya Vietnam store in the Saigon Centre in Ho Chi Minh City is expected to produce 100 million yen (US$919,000) in operating profit.

Takashimaya bullish about profit potential in Southeast Asia

PE investors launch lawsuit against Huy Vietnam founder over alleged fraud

Deal Street Asia Private equity investors in Vietnamese F&B chain operator Huy Vietnam on Thursday said they have commenced a lawsuit in the People’s Court of Ho Chi Minh City on behalf of the business against its founder and chairman Huy Nhat. “The actions against Huy and his associates, including Hanh Ngo, head of operations of Mon Hue (a brand under Huy Vietnam), relate to alleged breaches of fiduciary duty, irregular transactions and fraud, in which Huy has siphoned off large amounts of cash and assets.”

PE investors launch lawsuit against Huy Vietnam founder over alleged fraud

Japan and South Korea battle it out in Vietnam retail market

Inside Retail South Korean companies are engaged in a fierce battle with Japanese rivals in the Vietnam retail market, which has emerged as a “post-China.” According to the Korea Trade-Investment Promotion Agency, the Vietnam retail market has been growing rapidly, with an annual average growth rate of 10.9 per cent between 2013 and 2018. Currently, South Korea and Japan lead the market in all areas, including convenience stores, department stores and online shopping.

Large-cap firms to drive market up, but performance would be narrow

Vietnam News Since its emergence early last year, the US-China trade conflict has not shown signs of easing. Companies are increasingly concerned about the impact of trade tariffs and other trade protection measures, with many actively planning to divert their production from China. These issues were discussed at a conference titled “From manufacturing in Vietnam to Made-in-Vietnam products” on Thursday. Meanwhile, Vietnam has emerged as a prime manufacturing location in Asia.

WB reports improvement in Vietnam’s ease of doing business score

The Saigon Times Vietnam’s efforts to enhance its business climate is reaping positive results, with its score on the ease of doing business rising to 69.8 points versus last year’s score of 68.6, according to the World Bank (WB) Group’s latest Doing Business 2020 study. Among the 190 economies involved in the study, Vietnam secured the 70th spot on the ease of Doing Business ranking, dropping one notch compared to a year ago.

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VSIP II-A DEVELOPMENT LAND VSIP II-A IP, Binh Duong Province

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Daily Real Estate News Highlights Vietnam - 31 October 2019

30 local investors want to join North-South Expressway

Vietnam Investment Review 30 local investors have submitted files to bid for the building of the Eastern Cluster of the North-South Expressway so far. According to Minister of Transport Nguyen Van The, the ministry will appraise the design and estimate the construction costs of the eastern section of the project. “We 30 local investors want to join expect it to draw bids from 50-60 local investors registering to develop North-South Expressway this component of the North-South Expressway project.”

Cancel contracts with 20 foreigners, Nha Trang property developer told

VnExpress Central Khanh Hoa Province has ordered a real estate developer to terminate 20 contracts selling apartments to foreigners, saying the sale was unauthorized. The cancellation order was issued Thursday by the Cancel contracts with 20 foreigners, provincial department of construction to real estate company Cat Tiger Nha Trang property developer told Khareal, developer of the 40-storey Napoleon Castle apartment complex in the province’s Nha Trang Town. The company, which is also based in Nha Trang, had not obtained the local government’s permission to allow foreign ownership in the project, the department said.

Downward exchange rate scenario

The Saigon Times South Korean companies are engaged in a fierce battle with Japanese rivals in the Vietnam retail market, which has emerged as a “post-China.” According to the Korea Trade-Investment Promotion Agency, the Vietnam retail market has been growing rapidly, with an annual average growth rate of 10.9 per cent between 2013 and 2018. Currently, South Korea and Japan lead the market in all areas, including convenience stores, department stores and online shopping. Lotte Group has had a presence in the Vietnam retail market since 2008 and has invested US$390 million so far. Currently, the company has 14 shopping malls, one department store, and two duty-free shops operating across the country.

Vietnam becomes increasingly attractive to Italian firms

The Voice Of Vietnam Italian enterprises in the province of Pisa in general and in Tuscany region in general were updated on Vietnam’s investment attraction and incentive policies at an event held by the Chamber of Commerce of Pisa and the Italian Chamber of Commerce in Vietnam (ICHAM) in Pisa city on October 25. The event offered a good chance for Italian firms to understand more about the Vietnamese market and information related to prioritised cooperation fields, as well as policies for attracting investment and promoting trade links with foreign businesses. Vietnamese Ambassador to Italy Nguyen Thi Bich Hue briefed on Vietnam’s socio-economic development and international integration efforts, saying that the country boasts great potential to push its economic growth.

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