Vietnam’s Top Property News – Week 16/2021
The top residential and commercial real estate news of the Week 16/2021 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
- The last phase and project with river view in Thao Dien, District 2
- 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
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
NEW – Maia Resort Quy Nhon:
- Developed by VinaCapital
- Located at an untouched beach of Quy Nhon
- A Fusion branch, Maia, new and promoting food and culture of Quy Nhon
- 2 Bedroom from 453-611m2
- Price per unit from 666USD/m2
NEW- Ixora Ho Tram by Fusion:
- Developed by VinaCapital
- Located at Ho Tram, 2 hours away from HCMC
- 46 beach view villas (229-486m2) and 164 beach view apartments (45-98m2)
- Managed by Fusion Resorts
- Price from 2,600 USD/m2
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
HCMC transport authorities want $1-bln ring road sections approved this year
A section of the third ring road in Ho Chi Minh City pictured in December 2020. Photo by VnExpress/Quynh Tran
The HCMC Department of Transport wants final approval from the government for two sections of the third ring road to be built at an estimated VND24 trillion ($1.05 billion).
The two are among four sections of the key 90-kilometer road which will pass through the southern provinces of Binh Duong, Dong Nai and Long An.
One of them is the 19-kilometer Binh Chuan – National Highway 2, which goes up to Binh Duong Province.
It has an estimated price tag of VND11.7 trillion, and will have four lanes in the first phase and 6-8 later.
The second section, spanning 29 kilometers, will run from National Highway 22 to Long An Province, cost VND12.6 trillion and have four lanes to begin with and six later.
A Ministry of Transport agency that oversees the construction wanted the first section to get a $234-million loan from the Economic Development Cooperation Fund, and the second, a $309-million loan from the Asian Development Bank.
One 16-kilometer section of the ring road has been completed.
Source: VnExpress
Phu Quoc among world’s 15 best islands to retire in 2021
An aerial view of Phu Quoc Island in southern Vietnam. Photo by VnExpress/Ngoc Thanh
Irish publisher International Living named Phu Quoc Island among the world’s 15 best islands to retire this year thanks to its beaches, low cost of living and rich culture.
Phu Quoc off the Mekong Delta province of Kien Giang was one of four Asian islands to break into the global list released by the publishing company that focuses on overseas retirement.
The three other Asian islands were Malaysia’s Penang, Indonesia’s Bali and Thailand’s Koh Samui.
Phu Quoc, Vietnam’s largest island, is much loved by retirees thanks to its “low cost of living, rich culture and history, and variety of urban to rural areas to live.”
“It’s appealing to retirees for its many beaches and opportunities to enjoy the outdoors in tropical weather,” the company said
Phu Quoc, dubbed ‘pearl island’, has become a top tourist destination after it built an international airport in 2012 and the government rolled out a 30-day visa-free policy for foreigners in 2014. The island received over five million visitors in 2019, up 30 percent from 2018, including 541,600 foreigners.
The government has suspended international flights since March 25 and banned entry of foreign nationals except special categories since March 22 but it is considering “Covid-19 vaccine passports” to allow vaccinated foreign tourists back to the country.
Source: VnExpress
Vietnam becoming an R&D hub for global tech giants
An artist’s impression of Samsung Electronics’ research and development center in Tay Ho District, Hanoi. Photo courtesy of Samsung
The former is expected to be completed in 2022 and employ 3,000 engineers.
The South Korean giant also has other R&D centers in Vietnam to research into mobile devices, household electrical appliances, artificial intelligence, and data analysis.
The Qualcomm R&D center opened in June last year in Hanoi with four laboratories for developing wireless technologies (4G, 5G) and camera technologies and boosting the performance of mobile device batteries. It has around 50 engineers, all of them Vietnamese.
The Samsung facility will develop smartphones for the Southeast Asian market and software for Australia, New Zealand and Europe, and serve as a 5G network testing hub.
Others have also chosen Vietnam to set up R&D centers, including ride-hailing company Grab (in HCMC), South Korean tech giant LG Electronics (Hanoi and Da Nang) and Japan’s Toshiba and Panasonic (Hanoi).
Samsung also has 11 labs in Vietnamese universities to conduct collaborative education programs and enable students to take part in research into mobile phone technologies.
Many students have gone on to become researchers at the company.
Vu Thanh Thang, vice chairman of cybersecurity firm BKAV, said the trend of tech giants setting up R&D centers in Vietnam shows the country “has the ability to take part in high value-added activities in the global value chain.”
Vietnam is now in a golden demographic period with 45 percent of its population being under 30 years of age, which is attractive to global companies, he said.
But this trend is causing difficulties to local tech companies since they have to compete with global giants to attract talent, he pointed out.
He suggested that instead they should proactively train their own R&D engineers.
Source: VnExpress
Supervise real estate lending to avoid speculation: PM
Thu Thiem Urban Area in District 2, Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to supervise capital flow into the real estate sector to prevent speculation.
As of mid-March, outstanding loans in real estate rose 2.13 percent year-on-year, higher than the overall figure of 2.04 percent for the economy.
State Bank Governor Nguyen Thi Hong said that the bank has used some tools to control credit risks in the real estate sector, including reducing the ratio of short-term loans being used for mid- and long-term loans and applying a high risk adjustment coefficient to such loans.
The state bank has been asking commercial banks to focus lending on manufacturing as per the government’s direction, she said.
Experts have been warning of speculators pushing up real estate prices by spreading rumors about development plans in some places like Hanoi, Ha Long Town and Bac Ninh Province.
Land prices in many places have risen by an average of 10 percent in the last two months, and in some places they have even doubled or tripled, according to the Vietnam Association of Realtors.
Official say that reasons for the surging capital inflow into the real estate and stock markets is low deposit interest rates and poor land administration and planning.
Source: VnExpress
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