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News Release

Vietnam

JLL Market Watch W48 2016














 
                                  
                        
Hanoi to build commercial service areas and hotels in West Lake

The Hanoi People’s Committee has issued a decision of adjusting the planning for the urban area, in Thuy Khue ward, Tay Ho District. The total of land area is 967.1 sqm, of which 17.4 sqm is for road planning and 949.7 sqm for construction in order to meet demand for commercial services in Tay Ho District and demand for sightseeing and tourism around West Lake. Besides, the Committee also approved to restart the riverside megacity project along the Red River, called Song Hong City, after 22 years on the drawing board. However, the details have not been finalized.
  
      
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Foreign banks express interest in infrastructure projects in HCMC

Banks from the Republic of Korea (RoK) and Japan have expressed their interest in investing and providing capital for infrastructure and transport projects in Vietnam and HCMC in particular. Namely, KEXIM wants to fund the urban railway route No 4b-1 (to Tan Son Nhat International Airport) and phase two of the urban railway route No 5, while the Bank of Tokyo-Mitsubishi UFJ wants to provide capital provision for key projects in HCMC in the meeting with representatives from the city’s departments and sectors to increase cooperation and funding in potential areas.

     
    
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VN needs more cheap housing: VNREA

According to Viet Nam Real Estate Association (VNREA), the local property market has recovered but the State should provide policies to develop small and cheap apartments due to increasing demand, which from the majority of people were mid- and low-end incomes and lack of affordable products. The association proposed the National Assembly Standing Committee permit the continued implementation of policies on stimulating the development of commercial houses with a a small area, under-75-sq.m apartments, and low selling price at under VND15 million per sqm.
  
      
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Quang Ninh's expressway project goes to local investors

According to the official announcement of authorities in Quang Ninh Province, a domestic investor partnership will be constructed a USD622million expressway, after rejecting a proposal to borrow money from China. The 90km expressway will across through five communes, starting from Vân Đn and ending at Móng Cái, and under the build-operate-transfer (BOT) model. The project is expected to cost around USD622.2 million and is to be completed in three years.

     
    
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Seaport complex licensed in Quang Ninh

CDC Corporation, headquartered in the Cayman Islands, the Middle Utilities Company Pte Ltd of Singapore, and Infra Asia Investment Limited of Hong Kong have recently granted an operating license for a USD315.47 million development. The 50-year project consists of a seaport and industrial park at the Dam Nha Mac area in Quang Yen town, Quang Ninh Province, spanning nearly 1,193 hectares of land and water surface across Tien Phong, Lien Hoa, Lien Vi, and Phong Coc communes. The whole of the project is divided into two phases and expected to complete in 2031.
  
      
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CapitaLand to launch $500m Vietnam fund targeting commercial property

The Singapore-based property developer - CapitaLand intends to expand its presence in Vietnam, with plans to establish the second USD500 million investment fund, followed their first Vietnamese fund was a USD200 million launched in 2010, backed by GIC and Mitsubishi Estate Asia. This fund will be targeting investment of commercial segment and to acquire more residential development sites. The fund is fully invested in three residential projects in Ho Chi Minh City and Hanoi.

     
    
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StanChart PE invests $40m in Vietnamese lifestyle platform N Kid

Marking its second investment in Vietnam this year, Standard Chartered Private Equity (SCPE) has put in USD40 million in N Kid Corporation, a lifestyle platform for kids and teenagers. The company is well known under the brand names tiNiWorld and T CLB, Phuong Nga Toys, mom and baby products distribution business, and a number of 20 Toyland and Babyland retail outlets across the country. In the coming years, this firm will further expand its entertainment and retail chain as well as roll out new adjacent businesses with the new funding.
  
      
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Bitexco launches executive office suites for lease

Bitexco Financial Tower has officially released office suites in the luxurious top floors from Floor 53 to Floor 65 for lease with totaling 3,186 square metres and a unique working space with breathtaking 360 degree views at a height of 180 metres plus. The grade A building offer tenants flexible and individual office spaces for senior management level; law, accounting, IT and finance firms or creative companies, etc., ranging from 150 to 400 square metres.

     
    
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