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News Release

Vietnam

JLL Market Watch W52 2016


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Toong join hands with CapitaLand Vietnam to open new co-working space

Vietnam’s co-working space operator Toong will be launching its first outlet in Ho Chi Minh City early next year, in partnership with CapitaLand in Vietnam. The company already has four operational co-working spaces in Hanoi and Danang, leveraged by the seven-digit funding in March this year.

     
    
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VN cities on world investment market list

According to FDI’s Global Cities of the Future 2016-17, HCMC and Hanoi are at the 10th and 17th positions, respectively, among the 25 most FDI-friendly emerging market cities across the world, voted by the Financial Times. Actual FDI in Vietnam is expected to reach a record high of USD 15 billion in 2016, after rising 17.4 per cent to USD 14.5 billion last year, Prime Minister Nguyn Xuân Phúc said at the recent Vit Nam Development Forum, an annual dialogue between the Vietnamese Government and donors.
  
      
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VN to launch e-visas by 2017

According to the Viet Nam National Administration of Tourism, the government will grant e-visas to foreigners from 2017-18, aiming to attract more tourists and foreign visitors as well as boosting the domestic tourism industry. The new e-visas will be valid for 30 days and no need an invitation letter or a letter of guarantee from Vietnam instead of applying for their visas online and collect them at airports.
  
      
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Real estate credit up strongly

Bank loans for the property sector are estimated at some USD 6.7 billion this year, a 14.2% pickup from a year earlier, according the HCMC Real Estate Association (HoREA). Meanwhile, the bad debt ratio stays at some 2.6%. HoREA noted that HCMC-based realty developers also invest in other central and southern localities and the capital inflows in the real estate sector in southern provinces and cities would continue rising in the coming time.

     
    
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Real estate bubble unlikely next year: HoREA

The HCMC Real Estate Association (HoREA)’s forecast, a real estate bubble is unlikely to burst next year, still maintain growth momentum but a slowing trend this year will probably continue. Additionally, the market may also witness a major shift to the segment with affordable prices, meeting the real needs of the majority of average- and low-income earners in urban areas.
  
      
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Vietnam's foreign arrivals set to reach record 10 million in 2016

In the year to date, Vietnam’s international arrivals have already surpassed 9 million, compared to the full-year target of 8.5 million, according to the Vietnam National Administration of Tourism (VNAT). During the Jan-Nov period of this year, Vietnam raked in USD 16.6 billion in tourism revenue, an 18.6 percent increase from 2015.

     
    
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Six parking buildings proposed for HCMC

The HCMC Department of Transport has sought approval from the municipal government to construct six multi-storey parking lots in the city to meet rising demand. It has found six places suitable for developing parking buildings, including in District 1, District 10, Phu Nhuan District, District 8, District 6, and Tan Phu District, and four underground parking lot projects in the downtown areas. These parking lots are expected to be up and running at the end of 2019 at the soonest.
  
      
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City seeks overseas aid funds for metro line

The HCMC People’s Committee has asked the Ministry of Planning and Investment for official development assistance funds to build its metro line No 3A from Ben Thanh Market in District 1 to Binh Chanh District’s Tan Kien Commune. The route will be built in two phases, the first from Ben Thanh to Mien Tay New Coach Station, and the second from the bus station to the terminal in Binh Chanh. A total capital of these stages is nearly USD 2.82 billion with the length of 19.8 km.

     
    
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Hanoi seeks software park funds

The People’s Committee of Ha Noi is seeking financial support from the central budget to build a software park project in 2016-20. The park aims to develop a knowledge-based economy and the information and technology industry, and also expected to create favorable opportunities for investment activities as well as enhance the competitive capacity of software companies and contribute to the country’s economic growth.

     
    
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7 Saigon Streets could become one-way in 2017

During a recent working session with the Ho Chi Minh City People’s Committee, Mr. Bui Xuan Cuong, director general of the Department of Transport, said one of the city’s most urgent goals for 2017 is revamping the southern hub’s traffic system. The department is seriously considering reorganizing several key routes in the city, making them one-way roads in hopes of alleviating congestion and improving traffic flow.
  
      
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Vietnam's Vingroup rules out sale of retail chain to Japan;s 7-Eleven

Vietnamese property giant Vingroup has ruled out sale of its convenience store chain, VinMart+, brushing aside reports that Japan’s 7-Eleven was acquring it. Apart from real estate, retail is Vingroup’s second largest business operation. Its retail chain is expanding aggressively with a pipeline to open 80 more supermarket outlets and an addition of 1,500 VinMart+ locations.
  
      
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