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Vietnam’s Top Property News – Week 8/2021

Posted by Khoi Pham on February 28, 2021

The top residential and commercial real estate news of the Week 8/2021 and property recommendations:

Information herein has been obtained from sources believed reliable, please analyze and use it at your own responsibility and independently confirm its accuracy and completeness.

NEW – Grand Marina Saigon (District 1, HCMC)

  • Developed by Masterise Homes
  • First branded residential project by JW Marriott & Marriot
  • Expected launch in May 2021
  • Refundable booking is now available

NEW – LUMIÈRE riverside, Phase 2 (District 2, HCMC):

  • Developed by Masterise Homes
  • 1-3 Bedrooms (48-113m2)
  • ~4,500USD/m2

NEW – The 9 Stellars (District 9, Thu Duc City):

  • 3000 apartments and 159 Villas
  • 2,300USD/m2 for apartments and 5,500USD/m2 for villas
  • Developer: SonKim Land
  • Special Promotion: 3% Discount for booking in February

NEW – Meyhomes Capital Phu Quoc:

  • Developed by Tan A Dai Thanh Awarded with Labor Medal and 25 Years with Good Contributions to Vietnam Economy
  • Is the First and Limited Landed Property with Freehold Tenure on Phu Quoc City (just Upgraded to City)
  • Shophouses from 117-206m2
  • Affordable from 350,000 USD
  • Special Promotion: 8% Discount

NEW – The River Thu Thiem, Phase 2 (District 2, HCMC):

  • Phase 2 location is opposite to Phase 1
  • Refundable booking is now available

NEW – Penthouse and Loft (6m ceiling high) at The Opera Residence, The Metropole Thu Thiem (District 2, HCMC):

  • Penthouse: 1-3 Bedrooms (79-324m2), ~13,000USD/m2
  • Loft: 1-3 Bedrooms (69-174m2), ~11,000USD/m2
  • Refundable booking is now available

Kallias Complex City Phu Yen:

  • Developed by NDMReal
  • Located at a prime location: on coastal road at the beach city center, Tuy Hoa City, Phu Yen
  • With an AccorHotels Group brand operating right at the project
  • Shophouses from 90-100m2
  • Price per unit from 260,000 USD

Hyatt Regency Ho Tram:

  • Developed by Hyatt Hotels & Resorts
  • President Villa/Beach Front Villa/Sea View Villa/Garden Villa from 290-1000m2
  • Limited 63 units
  • Million Dollars Project
  • Beach Property

Angel Island (Dong Nai Province):

  • Elite Villas/Garden Villas/Grand Villas/Shop Houses from 154m2-360m2
  • First and Unique Island Property with Yacht Marina Entrance MAINLY
  • Million Dollars Project

Aqua City (Dong Nai Provice):

  • Townhouses/Villas/Shophouses from 120m2-360m2
  • Decent Eco Satellite City Adjacent to HCMC
  • Affordable from 300,000 USD

Masteri Centre Point (District 9, Thu Duc City):

  • Developer: Masterise Homes
  • Total scale: 10 towers
  • Unit size: 1 – 4 bedrooms
  • Affordable from 140,000 USD

Habana Island Ho Tram:

  • Semi Detached Villas/Single Villas from 160m2-240m2
  • Unique Island Property with View to Ocean and View to River
  • Million Dollars Project

NovaWorld Phan Thiet:

  • Townhouses/Semi Detached Villas/Shophouses from 100m2-150m2
  • Capital Gain Guarantee 13%/year
  • Affordable from 200,000 USD
  • Beach Property

NovaWorld Ho Tram – Tropicana:

  • Townhouses/Semi Detached Villas/Shophouses from 160m2-260m2
  • Capital Gain Guarantee 13%/year
  • Affordable from 300,000 USD
  • Beach Property

Starting the ring road 3 – Ho Chi Minh City

After many structural obstacles leading to slow progress, Ring Road 3 – one of the key projects in Ho Chi Minh City – has officially finalized the construction time

The My Thuan Project Management Board under the Ministry of Transport has just signed a contract for technical design consulting services and bidding support for a component project of Ring Road 3.

Talking with Thanh Nien, Mr. Tran Van Thi, General Director of Cuu Long Traffic Infrastructure Project Management and Development Corporation (Cuu Long Corporation), said, Board of Management Project Manager My Thuan under the Ministry of Transport held a contract signing ceremony for technical design consulting services and bidding support for component 1A project under the construction investment project of Tan Van – Nhon Trach, phase 1 – Ring Road 3 HCMC.

The winning consultant is Pyunghwa Engineering Consultant Ltd. comes from Korea. The contract is made within 12 months, including 8 months of technical design and 4 months of bidding support, from the preferential loan of the Korean government and the reciprocal capital of the Vietnamese Government. Next, the technical design and contractor selection will be completed soon so that the project can start construction in the third quarter of this year.

An important component of the component 1A project that many people are interested in is Nhon Trach Bridge spanning Dong Nai River, connecting to Ho Chi Minh City, with a length of more than 2km, a width of 19.5m for 6 lanes. The bridge has a clearance of 30.5m, the design of a navigation compartment of 110m can accommodate 5,000 tons ships running below. The bridge has a total investment capital of more than 2,200 billion VND, after completion, it will shorten the distance from Dong Nai to Ho Chi Minh City and Binh Duong, facilitate goods transportation, reduce traffic pressure at Dong Nai Bridge and inner city roads in Ho Chi Minh City.

According to the progress approved by the Prime Minister on September 28, 2011, Ring Road 3 going through the provinces of Dong Nai, Binh Duong, Long An, Ho Chi Minh City will be completed by 2020, but currently only 16.3km has been built through the territory of Binh Duong province (accounting for 17.92%). In many reports sent to the Ministry of Transport on the project implementation progress, Cuu Long Corporation emphasizes that the construction of a closed ring road 3 is very important and urgent.

Not only shortening the traffic time between localities, Ring Road 3 also helps increase inter-regional connectivity in order to speed up the development of industrial clusters, tourist services, rural urbanization along the route, connecting satellite cities of Ho Chi Minh City, contributing to forming a center towards a multi-center urban center; at the same time creating a complete traffic network as planned, connecting highways in the region, reducing congestion, traffic accidents and environmental pollution.

Source: Thanh Nien

Metro No. 1 goes into operation in 2022

The first train line Metro Line 1 debuted at Long Binh depot in October 2020. Photo: Huu Khoa

The content of the Urban Railway Management Board (MAUR – investor) stated in the project implementation plan of Metro No. 1 (Ben Thanh – Suoi Tien) from 2021 has just been sent to the People’s Committee of Ho Chi Minh City. Implementation and completion time of project works are planned specifically.

In which, the test run on the route is expected to take place from the fourth quarter of this year, first at the overhead section from Binh Thai intersection to Long Binh depot (Thu Duc city) to prepare for the full line test. This time is delayed compared to the previous plan expected to be implemented from the third quarter. Parallel to this time period, other jobs for operation, training, technology transfer, acceptance and handover… will also be done.

Metro No. 1 with a total investment of 43,700 billion VND, is nearly 20km long with 3 underground stations and 11 overhead stations. By the end of 2020, the project will reach about 82%. Previously planned, the project is expected to be completed and put into operation by the end of this year. In order for the project to be effective in operation, currently many support solutions are also planned such as building connecting bus routes, connecting electronic tickets, developing surrounding urban areas in the direction of serving traffic and relating businesses…

Source: VnExpress

Homebuyers adapt to online data warehouses

The launch of real estate data warehouses carefully meets the needs of each customer to find products, helping them quickly reduce money, save time and costs.

The impact of the third outbreak with Bui Trong Nguyen (32 years old), a business specialist in a real estate company, was working remotely after the Tet holiday. Despite the spatial distance, Nguyen still easily interacts with customers through mobile applications.

“Working in the traditional way, it takes me a long time to meet and talk directly with customers. Since the corporation applied technology, the work is more convenient and beneficial for customers, it’s less time consuming, especially in the epidemic context requiring social isolation”, Mr. Nguyen shared.

Application of technology in the housing market is increasingly popular

According to a report by Jones Lang LaSalle (JLL) Vietnam, the application of technology in real estate (proptech) is blooming with the growth of the real estate market. Thanks to the improvement in the speed and accuracy of the Internet connection along with the high technology, many solutions to save costs and increase the advantages of real estate business are born.

In Vietnam, more than half of proptech companies are concentrated in the residential and office segments. These two segments recorded strong interest from both developers/buyers and tenants.

According to Finrei’s list of proptech ecosystems in Vietnam, proptech applies most to housing, notably websites that introduce and list residential real estate, transaction consultation, purchase, sale, lease and project management.

One of the most commonly used technologies today is big data (Big Data). In a report on the influence of Big Data on Vietnam’s real estate market over the past decade, JLL said, Big Data’s influence on the real estate market is growing.

Accordingly, Big Data is changing the way the Vietnamese real estate industry operates from the inside out, in the direction of multi-function integration. The process of buying or renting real estate will no longer have to start with days of diving and field trips, but instead approaching a huge data warehouse to focus on core goals.

Using sophisticated analytical tools, data science can analyze each set of information individually to measure attractiveness and what factors will affect asset value. Factors ranging from the region’s demographics to the density of places and facilities around the building such as schools, social works and transport links are being rapidly communicated by Big Data.

Source: VnExpress

Real estate increases competitiveness with transparency

Information transparency creates healthy competition, expands the process of attracting investment capital and minimizes risks, according to experts.

Searching for “buying an apartment in Hanoi” on the Internet, Nguyen Tuan Minh (Cau Giay, Hanoi) was surprised when Google gave more than 100 million results in just 0.8 seconds. Talking about the same project, but each website has many different information and selling prices, making him confused as to which is the exact. There is no denying that finding information about the real estate market is increasingly fast, but the level of accuracy and transparency of them makes him skeptical.

“The information transparency is essential for home buyers to avoid unexpected risks. Many of my friends laugh at the site because information on the website is one way and the actual project is another”, he shares.

The transparency of real estate market information is also a problem that policymakers and businesses in the field in Vietnam are trying to improve over time. From the “less transparent” rating, for the first time in a decade, Vietnam’s real estate moved to the “semi-transparent” category, ranking 56th globally in the “Global Real Estate Transparency Index 2020” ranking for the first time in a decade (GRETI 2020) of JLL real estate consulting firm. The development of the two largest cities in the country, Ho Chi Minh City and Hanoi, has helped Vietnam’s real estate rank up in the world.

A corner of Ho Chi Minh City. Photo: Quynh Tran

The JLL report pointed out that real estate information transparency will be a trend all over the world, it will become a national competitive factor and bring effective investment. Only 11 countries in the “super-transparent” group according to JLL’s ranking have attracted 75% of investment in commercial real estate in the past 5 years.

Sharing this point of view, many experts believe that the transparency of information is an important issue in the context of foreign investment capital and M&A deals are increasingly strong in the real estate market of Vietnam. As a result, Vietnam will increase competition, expand the process of attracting investment capital and minimize risks in real estate business.

In the past 10 years, Vietnam has attracted a considerable amount of foreign investment capital, but it still needs to improve transparency ranking if it wants to attract more foreign investment capital because this transparency index is proportional to capital flows of FDI invested in countries.

According to JLL, the driving factor for transparency in the real estate industry is the popularity of Proptech (Property technology) platforms. Technology is used to research, purchase, sell, rent, lease and manage real estate. New technologies will make it easier for everyone to access project information, helping make important decisions in an informed way.

What technology has in common is Big Data and new technology platforms promise to make a big leap for the real estate industry. Although large-scale data collection is always challenging, it helps to improve transparency.

Source: VnExpress.

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