Skip Ribbon Commands
Skip to main content

News Release

Vietnam

JLL Market Watch Week June 26, 2017

By JLL


​​

​​​​​

​​​​​​​​​​​​​​

​​​​​ 
1. The National Assembly approves special site clearance mechanism for Long Thanh International Airport
Currently, the National Assembly has passed the resolution on dividing Long Thanh International Airport’s resettlement and site clearance compensation into different component projects. The government provides the Long Thanh project with USD 220 million for the medium- and long-term plans on site clearance. However, this amount accounts for only 21.7% of the actual funds necessary.

2. Hanoi’s luxury hotels fully booked by Q1, 2018 
High-end hotels in Hanoi have been fully booked by Q1, 2018, showing a robust sign, especially when the city is carrying out a myriad of investment solutions to make a breakthrough in tourism. This year, the city is striving to welcome 23.61 million travellers, a year-on-year increase of 8%, with the number of foreign tourists standing at 4.3 million. Despite owning 600 accommodations, the city is still seeking to deal with the insufficient number of top-end hotels to meet demand of travellers, especially those from foreign countries.​

3. Quảng Ninh’s GRDP growth sets five-year record
Quảng Ninh Province’s gross regional domestic product expanded by 9.6% in the first half of this year against 9.2% in the same period last year. With this performance, Quảng Ninh has been listed among the leading cities and provinces in the northern key economic region and nationwide. To reach the target of 10% growth rate, the province will focus on drastically instructing the implementation of socio-economic development tasks and solutions set for 2017.

4. Uniqlo may be heading to Vietnam
According to Inside Retail Asia, Japanese fashion retailer Uniqlo has held a recruitment event in Vietnam, hinting at a pending launch in the country. The first Uniqlo store is expected to open in HCMC in the fall, or the third quarter. 
5. HCMC targets selling 5,000 state-owned residential buildings this year
HCMC in the first half of the year sold 1,000 state-owned houses and apartment buildings, far short of its plan to sell 5,000 of the buildings by the end of the year. The city has 10,000 state-owned residential houses and buildings that have not been sold, but instead have been rented out, according to the Department of Construction.

6. Bac Lieu: Foreign investors eye wind power projects 
UPC Renewables Group and UK’s Kimin Power Company have reported on the feasibility of the wind power project in Bac Lieu that the two companies are planning to invest in. So far, the company has invested more than USD 3 billion globally and installed projects with total capacity of 2,000MW. For solar power as well, Bac Lieu is very ideal, due to sufficient sunlight and no storms and floods, making it suitable for solar power investment combined with aquaculture.
Read more...

7. Bubble Trouble? 
HCMC is expected to launch over 40,000 condominiums in 2017 and 2018. Vietnam's residential real estate market is well past its historic property bubble implosion of 2011 and buyers are riding a wave of streamlined access to credit, low inflation rates, and some of the highest economic growth rates in ASEAN. In 2015, the country opened up investments in real estate to overseas Vietnamese, foreign investment funds, and international firms operating in Vietnam permitting a Tsunami of investment to gather to momentum.
Read more...

-Ends-​


​​