Real Estate News July 2016

Here you will find a few headlines from the Vietnamese market:

Quarter III 2016 to see massive project launch to the market
In HCMC real estate market, property investors have developed a playground named Viethome Expo, in order to meet practical demand of the market. This year, Viethome Expo 2016 will be held from July 8 to 12 in the Phu Tho Sport Center, with the theme 'The trading fair of real-valued housing'. According to the organizators, up-to-date, the fair has attracted over hundreds of property firms, including reputable ones like Thuduc House, Him Lam Land, Nam Long Group, Sacomreal, etc.

USD 170 Million project proposed for Central Highlands road upgrade 
The Traffic Safety Project Management Unit has proposed a US$170 million project to upgrade part of National Highway 19 which connects the Central Highlands and the central region of Vietnam. The unit suggested the Ministry of Transport seek the Government's nod for the project with funding sourced from the World Bank (WB), a Vietnam News Agency report said. The highway stretches 243 kilometers and links the Central Highlands and the south-central provinces of Vietnam and those bordering Laos and Cambodia. It starts from Quy Nhon Port in the central province of Binh Dinh and ends at Le Thanh border gate in the Central Highlands.
Around US$150 million out of the US$ 170 million needed for the project is expected to come from the lBRD and the remainder from the State budget. If the Government approves the project, the unit can complete an initial investment plan for it this month and the pre-feasibility study in January 2017.

Hanoi greenlights Disney-esque park 
The Hanoi People’s Committee has approved the plan to build 198-hectare Kim Quy (Golden Turtle) Amusement Park, inspired by Disneyland Hong Kong, in Dong Anh district, according to newswire The amusement park is one of the 25 parks that will be built in the capital in the next five years. Five of these parks will reach international standards.

ADB funds trade in Vietnam 
The Trade Finance Program (TFP) of the Asian Development Bank (ADB) will provide annual guarantees of up to US$20 million to fuel trade growth in Vietnam under a pact the ADB and Orient Commercial Joint Stock Bank (OCB) have just signed. With the participation of OCB, the TFP now has 12 bank partnerships in Vietnam, ADB said in a statement. ADB described Vietnam as one of the top five most active among the 20 developing markets where the TFP has been operational in the past few years. To date, the program has conducted 4,479 transactions, supporting over US$6.9 billion in trade in this market.

Hanoi promulgates regulations on construction licensing
According to Hanoi People’s Committee, construction licensing authority is enforced as following: 
Department of construction shall license level I and II projects, FDI projects, projects spanning 2 or more districts, projects adjoining central Hanoi area (Ba Dinh, Hoan Kiem, Dong Da, Hai Ba Trung Districts). Management board of Industrial and Processing zone shall license projects located inside their respective zone. People’s Committee of ward shall license projects, houses and villas located in their area.

Investments in HCMC soar in 2016-2020
Total investments in HCMC in the 2016-2020 period are estimated at VND 1.000 trillion (USD 44 billion), up 55% against the previous five years. HCMC will manage to optimize the use of capital mobilized from the private and foreign invested sectors while making the most of official development assistance (ODA) loans. Total investments of HCMC in 20112015 stood at VND1.180 trillion, or 31.7% of the city's gross regional domestic product (GRDP). Investments steadily rose in the period, with nearly VND203 trillion in 2011, VND217 trillion in 2012, VND232 trillion in 2013, VND252 trillion in 2014 and around VND280 trillion last year.

Prime Minister approves to extend the disbursement of VND 30,000 billion package
Casino Group (France) had completed selling the entire system of Big C Vietnam to Central Group (Thailand) and Nguyen Kim Group, and is now planning to open another seven Big C supermarkets in 2016. According to a senior management representative of Big C, the projects would take place in Hanoi and HCM City and are currently under construction processes. If the projects are on schedule, this would be the time when Big C opens their biggest selling point since 1998.