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News Release

Vietnam

JLL Market Watch W46 2016



                         
                        
Lao Cai - Yen Bai Highway to be widened

Prime Minister Nguyn Xuân Phúc has recently approved the Transport Ministry’s proposal to build additional parts on the Yên Bái-Lào Cai National Highway, which will be expanded from two lanes to four lanes and an underground drainage system will be built as well, with a total investment of USD33.2 million. The construction is expected to complete before July 2017 to enhance road safety and improve the efficiency of extraction of the highway route from Nội Bài International Airport to Lào Cai Province.

  
      
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Construction sector grows 8.8 percent

The construction sector increased 8.8 per cent in GDP for the first half of 2016, the highest growth since 2010, reported the Ministry of Construction. The ministry’s enterprises booked revenues at about USD3.45 billion while the rate of urban and rural construction hit 100 per cent, and urbanization nearly 35.7 per cent of their respective targets for the period. The issuance of construction licences will be reduced to 22-25 days from 30 days that realise the government’s resolution on improving the business climate as well as the resolution on business development support.
  
      
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Dubai-based realty major Limitless resumes $550m Vietnam tourism project

Dubai-based real estate developer Limitless, has announced it is in the process of receiving the infrastructure contract for the long-delayed USD550 million hospitality project Ha Long Star. The mixed-use project is located at the UNESCO World Heritage Site of Ha Long Bay, Quang Ninh province, with the initial phase is expected to develop around 2,000 villas, townhouses and apartments, extensive retail, leisure facilities and two hotels.

     
    
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Donald Trump can be very good for the US economy

According to CNBC’s news, one of the first things Donald Trump - the 45th President of the United States talked about in his victory speech was rebuilding the national infrastructure. Additionally, Trump's economic policies include across-the-board tax cuts for individuals and a slashing of corporate taxes down to 15 percent from 35 percent. But, if we simply look at what Trump can do for the economy based on fiscal policy changes there is reason to be optimistic that he can help the economy.
  
      
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Like the Brexit referendum - elections have the capacity to surprise

According to Dr. Megan Walters – Head of Research of JLL, following Brexit, the Bank of England cut rates and introduced stimulus measures. Janet Yellen was widely expected to raise rates in December and the recent election of Donald Trump to the 45th President of the United States, if there is a similar level of financial market turmoil, we can expect the US rate cut to be deferred, and real estate yields here to remain stable, or continue to compress under the weight of capital aimed at Asia Pacific real estate.

     
    
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Dat Xanh acquired stalled HCMC project

The Dat Xanh Real Estate Service and Construction Corporation has recently announced it purchased all of a large condominium project in Ho Chi Minh City’s District 9 from the Thang Long Investment Petrol JSC and spent more than USD25 million on acquiring the condominium project. The high-rise apartment building began in 2008, covering about 8.6 ha and will be house about 6,500 residents in 1,625 apartments, but has been delayed for a long time.
  
      
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Dat Xanh acquired two more condo projects

Dat Xanh Group has finished buying an apartment project in HCMC’s Thu Duc District and is negotiating another deal in Go Vap District. The apartment project is covering 3.6 hectares in Thu Duc District developed by Saigon General Service Company (Savico). This project consists of five 20-floor blocks with around 2,000 apartments for low-income earners, having an estimated cost of VND1.2 trillion. Meanwhile, details about the 3.2 hectares project which Dat Xanh plans to acquire in Go Vap District have not been announced further.

     
    
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South Korean company to invest in Vung Tau

South Korean company Hyosung Corporation has proposed to build polypropylene (PP) factories and a liquid petroleum gas (LPG) storage facility in Bà Ra-Vũng Tàu Province. Finally, the company recently submitted the proposal to the Bà Ra-Vũng Tàu industrial zones authority. A source from the Ministry of Industry and Trade (MoIT) said Hyosung Corp planned to set up the factories and storage facility in Cái Mép Industrial Zone, in Tân Thành District. The firm would make a capital investment of USD1.2 billion, and the two phases would occupy a proposed area of 608,910 sqm.
  
      
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