Real Estate News August 2016

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

HCMC - Announcing 77 mortgaged real estate projects at banks 
In the list published on 8 June, 77 housing projects in the city are mortgaged at banks by many "giants" in the real estate sector such as: Him Lam with the Riverside project at Lot A3, Quoc Cuong Gia Lai in the 6B residential area of the South zone of the city (Binh Chanh district), the Nam Long Company with the An Lac ward mortgaged residential area (Binh Tan), Hoang Quan Real Estate Company with the mortgaged apartment project in Binh Chanh district.

Hanoi officially launches CV1 park and conditioning lake​ 
The park located in Cau Giay new urban area has a total area of ​​31.76ha, of which 19ha are dedicated to digging the conditioning reservoirs, 12.7ha for green items and entertainment area. Total investment for the project is VND938 billion, it is expected to be built in 30 months and will be completed and put into use in 2018. CV1 park and conditioning lake is built in a concentrated area of ​​urban and high-rise buildings, so as to bring more ecologically significant and important roles for the environment.

Singapore Blue Circle approved for 40MW wind project in Vietnam
The Blue Circle, a Singapore-based wind energy developer, has received an investment certificate from Vietnamese authorities for its 40-megawatt project in Ninh Thuan province, south Vietnam. The certificate to the Blue Circle and its Vietnamese partner, TSV, opens the process to sign a long-term lease and power purchase agreement with EVN, the national power utility, the Blue Circle said in an e-mailed statement.

Huge interest, giants share VND trillions
A range of businesses has recently announced business results for the first half of 2016 with huge profit. This is a good signal in the context that the private sector is expected to lead the economy in the future. Many real estate companies, industrial real estates, steel, building materials companies, such as An Duong Thao Dien (HAR), Nam Long (NLG), Sudico (SJS), Vinaconex 3 (VC3), Kinh Bac (KBC), Thai Nguyen Steel, Nam Kim Steel (NKG), Dong Nai Plastics, Vicostone (VCS), SMC Steel, Cement Ha Tien, Tien Phong Plastics, Hoa Sen Steel etc. have seen huge profits thanks to strong revenue growth in the context of the warming market.

US$6 billion for Saigon Peninsula project
Van Thinh Phat Group Corporation, one of the leading real estate and hospitality companies in Vietnam, on August 3, 2016 signed an agreement with two giant Malaysian companies to develop a US$6 billion ecological urban system called Saigon Peninsula Project in HCM City's District 7. The two partners are Pavilion Group, a world-class property developer, and Genting Group, Malaysia's leading corporation and one of Asia's best managed multinationals.

The signing ceremony was held at the Reverie Saigon Hotel in the Times Square building in downtown HCM City. The Saigon Peninsula Group Corporation was licensed by the HCM City People's Committee to develop the Saigon Peninsula Project on 118ha of land in Phu Thuan Ward in District 7. Saigon Peninsula will feature a multifunctional park, an international cruise terminal port, office towers, resort villas, apartment blocks, a hotel, and other functional areas and facilities.

French group wants to develop highways in Vietnam
VINCI, a French-based leading global group in infrastructure construction and concessions, hopes to cooperate with the Vietnamese Government and partners to develop highway projects in Vietnam. The country will study the development of a high-speed railway and build major airports, which will offer an excellent opportunity for foreign businesses to invest in Vietnam. The Vietnamese Government will create favorable conditions for potential investors to develop infrastructure, especially in the transport sector.

Over VND5 trillion invested in Quang Ninh’s Dong Trieu town 
At a conference on July 30, Quang Ninh People’s Committee announced that they have granted investment licenses to four projects totalling VND318 billion (USD14.31 million), including a VND128 billion high-tech agricultural area by VinEco Quang Ninh Company, a VND151 billion waste treatment plant by Vien Dong Co. Ltd., a VND24 billion public bus station by Phuc Xuyen Co. Ltd, a VND15 billion housing area for employees of Clinker Viglacera Brick Joint Stock Company. In addition, Dong Trieu signed memoranda of understanding on investment research co-operation for 10 projects worth VND4,744 trillion (USD213.48 million) in various fields such as urban building, high-tech agriculture, restoration of relics, education and coal mining.