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News Release

Vietnam

JLL Market Watch W49 2016


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The TPP is changing Vietnam's economy, no matter what Trump does

Following the announcement of US TPP withdrawal , the Communist government in Hanoi confirms Vietnam will continue carry out what the  country planned to do. Vietnam government plans to push ahead with more than 30 separate pieces of legislation proposed to comply with the trade deal, including rules on labor, business, foreign trade, and small-and-medium enterprises.
  
      
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Vietnam: Realty firm Novaland sells stake worth $120m to 18 investors

Ho Chi Minh City-based property developer Novaland has successfully sold part of stakes to a consortium of investors for $120 million, according to a report on Bloomberg. This was part of Novaland’s fundraising schedule, ahead of the company’s IPO plan, Novaland had earlier announced.
  
      
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Vingroup subsidiary eyes $40.25m Can Gio golf project

Can Gio Tourist City (CTC), a Vingroup subsidiary, may be allowed to develop the Can Gio Golf Club project with the total capital of VND900 billion ($40.25 million) on the land area reclaimed from the sea in Ho Chi Minh City’s Can Gio district.

     
    
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New loan packages for social housing

Two new preferential loans, unrestricted by scale and deadline, for social housing and cheap commercial housing projects will be provided to low-income earners. The new packages are expected to continue the VND30 trillion housing stimulus package. Nguyen Tran Nam, chairman of Viet Nam Real Estate Association, told the association’s meeting held earlier this week that the Law on Housing 2014 and Decree No 100/2015/ND-CP on social housing and cheap housing stipulates that capital for the two packages would come from commercial banks and the Viet Nam Bank for Social Policies.
  
      
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Property market expected to grow next year

Property experts forecast that the real estate market of Viet Nam would continue to be on a solid growth next year, driven by the improved macro-economy and policies. Christopher Fossick, CEO of John Lang LaSalle in Singapore and Southeast Asia, was quoted as saying that he did not see signs of a market bubble forming at least by 2020. Deputy Director of the Central Institute for Economic Management Tran Kim Chung pointed out that there were three factors which would fuel the property market development: economic stability, the quick handling of bad debts, and improvements in the State management and the legal framework.

     
    
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Central city to adjust 2030's Master Plan

The central city of Da Nang has submitted an adjustment to its master urban plan for 2030 - 2050 to Prime Minister Nguyen Xuan Phuc. The city wants to change its urban development goals to include the expansion of public space, full urban services and environment protection. Da Nang’s adjusted master plan also focuses on tourism as a core economic sector. The city will also concentrate on high-tech industry and hi-tech farms as well as organic and safe farming.
  
      
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Vietnam's Nov retail sales put at VND302.9 trillion

Vietnam’s total retail sales of goods and services are estimated at around VND302.9 trillion (US$13.3 billion) this month, up 1.9% against the previous month and 10.4% over the same period of last year. January-November has seen total sales of goods and services nationwide amounting to VND3,201 trillion, up 9.5% year-on-year, or 7.6% with the price factor excluded. Sales of catering and accommodation services in January-November have reached VND374.5 trillion, a 10.4% year-on-year increase. Revenue from travel services is put at VND31 trillion, up 11.4% year-on-year.

     
    
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Overpass to go up in TSN airport area

The HCMC Department of Transport has approved a flyover project at the intersection of Nguyen Thai Son and Nguyen Kiem streets linking Tan Son Nhat (TSN) airport and nearby roads to ease chronic traffic congestion in the airport area. In the project, an N-shaped steel overpass will be constructed with two branches measuring 367 meters in length each and running from Nguyen Kiem Street to Nguyen Thai Son and Hoang Minh Giam streets, and with the third stretching 362 meters from Hoang Minh Giam Street to Nguyen Thai Son Street. Apart from the overpass, the HCMC Department of Transport will upgrade and expand the roads near this intersection to facilitate traffic, build LED lighting systems and plant more trees.

     
    
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