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News Release

Vietnam

Vietnam Market Weekly Highlight W4 2016

Foreign investment in HCM City's industrial parks and export processing zones is expected to rise this year as Vietnam is scheduled to sign the TTP on February 4, according to the HCM City Industrial Parks and Export Processing Zones Authority (HEPZA)


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Premier Village Phu Quoc Resort offers investment opportunities

Premier Village Phu Quoc Resort project recently introduced by Real Estate developer Sungroup is offering a wide range of investment opportunities in the luxury resort properties segment. The resort, located at the very tip of the Ong Doi Cape at the end of the southern island of Phu Quoc in southern Kien Giang province, known for its pristine beaches and forests, has emerged as a favourite destination for tourists as well as investors. As described by Sungroup, the 73-hectare resort has two parallel sides facing the sea, offering a view of the sunrise and sunset at the same location.



IPs in HCM City to see more foreign funding

Foreign investment in HCM City's industrial parks and export processing zones is expected to rise this year as Vietnam is scheduled to sign the Trans-Pacific Partnership (TTP) on February 4, according to the HCM City Industrial Parks and Export Processing Zones Authority (HEPZA). Most of the foreign enterprises are from the British Virgin Islands, the Republic of Korea, Singapore, Hong Kong, Japan, Taiwan, France, the US, China and Australia. They operate mostly in textiles, food and chemicals, among other products and services.



Urbanisation begets need for more housing

Viet Nam needs more drastic measures to boost housing development as the country's rapid urbanisation coupled with a young population has made it an urgent issue. In recent years, urbanisation has been rapid not only in major cities such as Ha Noi and HCMC, but also in other provinces and cities such as Bac Ninh, Thai Nguyen, Quang Ninh, and Dong Nai, apart from Binh Duong and Ba Ria-Vung Tau. With an anticipated population of 51% in 2016 with the trend of smaller households, housing demand in urban areas would keep rising, especially the demand for social housing projects.



CapitaLand ups stake in Vietnam joint venture to 90%

CapitaLand Limited , through its wholly owned subsidiary CapitaLand Vietnam Holdings, has beefed up its ownership in the Vietnam-based CapitaLand Vista joint venture to 90 per cent, the Singapore property firm announced on Friday. It purchased another 10 per cent stake through a cash transaction worth $4.65 million in the JV from Thien Duc Trading Construction Co Ltd, with which it forged the partnership in September last year, the company said in a filing with the Singapore Exchange.



Former US airbase in Nha Trang to be sold for USD540 million 

Authorities in the central province of Khanh Hoa have announced plans to sell a former US airbase measuring more than 186 hectares in Nha Trang to investors for a shopping-services mixed development. They said Monday it would be a build-transfer (BT) project, and the land has been evaluated at around VND12 trillion (USD540 million). Potential investors have not been revealed but earlier reports said at least four companies had expressed interest.



CEO Group opens Novotel Phu Quoc Resort

CEO Group on January 18 opened the Novotel Phu Quoc Resort after one year of construction. The hotel, managed by Accor, lies on a 7.3 hectare area. It is located on the SR3 land plot of Sonasea Villas & Resort tourism complex on Bai Truong beach, five minutes by car from Phu Quoc International Airport. The construction cost VND4.5 billion (USD201.8 million) altogether. Novotel Phu Quoc Resort features 400 rooms of great variety—beach front villas, pool villas, deluxe twin villas, suites, superior and family rooms.



Long Thanh airport likely to fall behind schedule

If procedures are handled as strictly as required, work could only start on the Long Thanh international airport project in 2023, when phase one of the project is planned to be complete. The National Assembly (NA) Economic Committee expressed this concern in a report sent to the NA and the Prime Minister after its working group worked with the parties concerned, according to the news site VnExpress. The project would require a total of more than USD16 billion, including around USD5.45 billion for phase one.



Land use fee revenue up strongly in city

HCMC’s budget revenue from land use fees amounted to more than VND10.7 trillion (USD477.7 million) last year, up a staggering 34.6% from a year earlier, according to the municipal Department of Natural Resources and Environment. The department ascribed the strong increase in land use fee revenue to the city’s land price spike last year. The department’s deputy director Nguyen Van Phuoc told a review meeting last week that land prices in the city were revised up by 1.9 times on average compared to 2014