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News Release

Vietnam

JLL Market Watch Week May 29, 2017

By JLL


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1. PM approves USD 1 billion Nghe An industrial park
The Prime Minister has approved the development of the WHA Hemaraj 1 Industrial Park in Nghe An Province’s Southeast Economic Zone. This project will be developed by a joint venture between Viet Nam-based Civil Engineering Construction Corporation No. 4 and Thailand-based Hemaraj Land & Development Public Co., Ltd at a total cost of USD 1 billion. It will cover a combined area of 3,200ha in the two districts of Nghi Lộc and Diễn Châu with rental contracts for 70 years. Construction is expected to begin in the middle of July 2017 and complete it by 2038​.

2. Hanoi to build VND 150 million homes for workers
The Vietnam General Confederation of Labor (VGCL) has planned to cooperate with Hanoi City and enterprises to build budget homes costing some VND150 million (about USD 6,600) each, which have floor space of 30 sqm each near industrial parks. According to this plan, VGCL will pilot construction of 10 condo buildings for sale to workers in industrial zones nationwide in 2017 and will build four more in the 2018-2020 period. 

3. HCMC to build bridge to link districts 12, Bình Thạnh
The HCMC authorities plan to build a bridge across the Vàm Thuật River to link districts 12 and Bình Thạnh, according to the city’s Department of Transport. The entire project includes a road and bridge 2.7km in length. Namely, the bridge, to be 376m long and 18m wide, will cost USD 92.6 million; linking districts 12 and Bình Thạnh. It is expected to help traffic congestion and road accidents in the city, and allow easier access to National Highways.

4. Kenton Node mixed-use development set to open
The Tai Nguyen Corporation has introduced Kenton Node, located in Nha Be district, HCMC. The project is one of the largest mixed-use developments in the South Saigon area, with a total area of 84,000 sqm. In particular, the total space of the retail podium will amount to 30,000 sqm, with established fashion brands, restaurants and diverse recreational facilities. Its opening is planned for the third quarter of this year.
5. Five months FDI capital nears USD 500 million in Dong Nai
According to reported the provincial Department of Planning and Investment, the southern province of Dong Nai attracted nearly USD 500 million FDI capital in the first five months this year. The above amount approximates 50% of the province’s plan this year. Countries and territories with large scale projects comprise Japan, South Korea and Taiwan. Notably, licensed projects are environmentally friendly and not labor intensive in hi-tech and support industry fields.

6. Trade deficit exceeds USD 3 billion
Vietnam’s trade deficit in the first half of May hit nearly USD1.1 billion, taking the total this year to a little more than USD 3 billion, according to data of the General Department of Vietnam Customs. The trade gap was equivalent to 4.3% of the country’s export turnover. So far this year, the country’s exports have brought in nearly USD 69.7 billion, up 17.6% year-on-year, while import spending has surged 25% to over USD 72.71 billion.
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7. Southeastern largest wholesale market opens in Dong Nai
Dau Giay, the largest farm produce and food wholesale market in the southeastern region, has come into operation in Dong Nai province. The market has been built by Thong Nhat real estate company at the total cost at USD 44 million. Dau Giay market locates in Dau Giay T-junction, Xuan Thanh commune, Thong Nhat district; linking up to Highway 20, National Highway 1A and HCMC-Long Thanh-Dau Giay Expressway. In the first phase, the market concentrates on functioning and developing the 7ha area of vegetables and fruits.