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Vietnam’s Top Property News – Week 12/2021

Posted by Khoi Pham on March 25, 2021

The top residential and commercial real estate news of the Week 12/2021 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 & Marriott
  • 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: 1% Discount for booking in March

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 – Celesta Rise, Phase 2 (Nha Be, HCMC):

  • Developed by Keppel Land and Phu Long
  • 2-3 bedroom (78-105m2)
  • Price from 2,300USD/m2
  • Expected launch Q2/2021
  • Refundable booking is now available

NEW – The Marq, (District 1, HCMC):

  • Developed by Hongkong Land
  • 1-4 bedroom (48-145m2)
  • Price from 9,000USD/m2
  • Expected launch Q2/2021
  • 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

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

PM orders consideration of Covid ‘vaccine passport’ for economic, travel recovery

Du khách nước ngoài dạo bước trên phố Tây ba lô Bùi Viện ở trung tâm TP.HCM, tháng 3 năm 2020. Ảnh VnExpress / Nguyệt Nhi

Prime Minister Nguyen Xuan Phuc ordered relevant agencies to map out plans for “Covid-19 vaccine passport” implementation to soon help tourism and aviation sectors recover.

Speaking at a government meeting Wednesday, Phuc requested relevant agencies to consider “appropriate anti-pandemic prevention measures” as the country adopts an official policy for Covid-19 vaccine passport holders.

His directive came after tourism experts earlier this month suggested the government consider opening up to vaccinated foreign visitors from the third quarter in a similar vein to regional peers to revive the hard-hit tourism industry.

While some experts proposed those holding “vaccine passports” should still undergo 14-day quarantine in the absence of information on the potential risk of infection following two-dose inoculation, others suggested the exemption of mandatory quarantine if foreign arrivals show a vaccine certificate and negative test results before and after entering the country.

A “vaccine passport” entered the agenda as the Southeast Asian country committed to both containing Covid-19 outbreaks and ensuring economic growth, rebooting hard-hit sectors like aviation and tourism.

Phuc said many businesses in sectors like transport, tourism and services have been badly affected; as a result, many people have been left unemployed.

The PM also ordered relevant agencies to consider gradually resuming international flights.

The government has closed national borders and canceled all international flights since March last year with only Vietnamese repatriates, foreign experts and highly-skilled workers allowed in with stringent conditions.

The government last year green-lighted the resumption of commercial flights to seven Asian destinations, mainland China, Japan, South Korea, Taiwan, Laos, Cambodia, and Thailand, but Vietnamese carriers are still not allowed to operate inbound flights.

Due to border closures and travel restrictions, Vietnam recorded a 79 percent decline year-on-year in the number of foreign visitors in 2020, according to official data.

Source: VnExpress

Vietnam nominates PM as presidential candidate

The upcoming parliament meeting will see, for the first time, a sitting prime minister nominated for the state president position.

At the next National Assembly session, scheduled to last 12 days starting Wednesday, Vietnam’s parliament will cast votes for 25 leading positions, including NA chairperson, state president and prime minister – three of the four political pillars of the nation, the other being the Party General Secretary, which is being held by Nguyen Phu Trong for the third term as decided by the 13th Communist Party Central Committee last January.

As of now, it has been confirmed that Prime Minister Nguyen Xuan Phuc, 66, will be introduced as a presidential candidate, Nguyen Hanh Phuc, the NA General Secretary, told the media Tuesday.

He did not reveal further information about candidates for other positions.

The state president is the country’s top representative in both internal and external affairs; and commander-in-chief of the armed forces.

Party chief Trong has held this position since 2018 after his predecessor Tran Dai Quang died of illness.

Asked how many candidates will be introduced for each of the main positions, Nguyen Tuan Anh, Deputy Head of Delegate Affairs under the NA Standing Committee, said at the press meet that for the positions of President, NA chairman, and PM, the Party will go through a list of candidates, but did not elaborate.

“Until today, no one has ever run for those positions themselves,” he said.

As scheduled, the NA would cast its secret ballot to dismiss incumbent National Assembly Chairwoman Nguyen Thi Kim Ngan on March 30. A day later, the new legislature leader would be sworn in following the election.

On April 1, the NA would cast a secret ballot to allow incumbent State President Nguyen Phu Trong to step down. The committee would then submit the list of nominees for election to the NA.

On April 2, the new head of state will take the oath of office.

The same day, the NA would hold a secret ballot to allow incumbent Prime Minister Nguyen Xuan Phuc to vacate his position. The newly-elected president would then submit the list of nominees for prime minister to the parliamentary body.

The new PM is expected to be sworn in on April 5.

For the upcoming session, the NA will spend 4.5 days discussing what has been done and what should be fixed during the 2016-2021 term and seven days on voting personnels for the new term.

Prime Minister Nguyen Xuan Phuc speaks at a conference in Can Tho in March 2021. Photo by Vietnam Government Portal

Source: VnExpress

Hotel giant IHG unveils massive Vietnam expansion plans

InterContinental Hotels Group, owner of brands such as Six Senses and InterContinential, is eyeing 50 percent growth in the number of properties within the next two years.

Rajit Sukumaran, IHG managing director, Southeast Asia and South Korea, said the plan to increase the number of hotels in Vietnam is part of a global strategy that has been consolidated by Vietnam’s recovery from the Covid-19 pandemic.

Seashore at InterContinental Danang Sun Peninsula Resort in the central city of Da Nang, Vietnam. Photo by Shutterstock/SenSeHi

Hailing the government’s efforts to control the pandemic, he said all this company’s hotels in Vietnam have started to welcome guests again and seen a surge in bookings by both leisure and business travelers.

The British company has 13 properties in Vietnam with 3,700 rooms, including at luxury brands Six Senses and InterContinential.

Vietnam recorded a 79 percent decline year-on-year in the number of foreign visitors in 2020 due to travel restrictions amid the pandemic as the country received 3.83 million foreign tourists against a record 18 million in 2019, according to official data.

Source: VnExpress

Long An licensed a 3,000-MW liquefied natural gas power plant

The southern province of Long An has licensed a 3,000-MW liquefied natural gas power plant to be built by South Korea’s GS Energy and fund management company VinaCapital.

Long An Southeast Asia Industrial Park in the southern province of Long An. Photo by Investment Promotion Portal of Long An Province

It will be built at the Long An Southeast Asia Industrial Park at a cost of $3 billion, with the 90-hectare facility having two combined-cycle power plants, Long An 1 and 2, with a capacity of 1,500 MW each.

Long An 1 will go on stream in December 2025, and Long An 2, a year later.

Several other LNG power plants have received approval or having feasibility studies done now amid the growing power demand in Vietnam.

Singapore’s Delta Offshore Energy will build a plant in the Mekong Delta province of Bac Lieu in 2024.

The northern port city of Hai Phong has approved construction of a $5.09 billion LNG plant by the U.S.’s Exxon Mobil.

Source: VnExpress

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