Real Estate News February 2017

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

CapitaLand buys 90% stake of a company that has 0.8-ha land in Thao Dien 
On January 23rd, CapitalLand Limited (CapitaLand) announced that a subsidiary of Sophia VN Limited give 90% stock in CapitaLand Thanh Nien Limited Company. CTN owns 0.8-ha land in Thao Dien Ward, District 2, HCMC that will be developed into a project with 317 units of condotel.

Vietnam-Japan trade expected to surge in 2017
The Vietnam-Japan trade is expected to reach a new height in 2017 as the two countries have agreed on many measures to boost the trade exchange. Vu Cuong, deputy head of East Asia division of the Asia Pacific Market Department under the MoIT, said a series of visits made by leaders of the two countries in early 2017 reflected the two sides’ resolve to boost ties. Besides good diplomatic relationship, trade experts urged the business community to seize opportunities brought about by the Vietnam-Japan Economic Partnership.

Biggest theme park in South East Asia opens in Ha Long 
Dragon Park of Sun Group is officially opening on 25th Jan. 2017. This is the only park in Vietnam providing over 30 top world modern games. The quality is tested by TUV – Germany. This 40 ha park is also the first park in Asia managed by Parques Reunidos (Spain), the well-known top brand in the world with over 60 famous parks in 14 different countries which qualifies the EU standard. It is expected to attract a huge number of visitors for Quang Ninh Province.

Big companies invest in real estate in the South of Hanoi
Within a relative short time, many important transportation projects are completed, such as overpass O Dong Mac – Nguyen Khoai, widen Tan Mai and Kim Dong road.
Furthermore, the Prime Minister has also agreed Hanoi to operate Minh Khai – Vinh Tuy – Yen Duyen Project with 1.65 km long. According to master planning, Minh Khai road will be broaden and have more overpass which is expected to reduce traffic jam. Thanks to infrastructure development, big real estate companies like Vingroup, Tan Hoang Minh, MIK Group, Geleximco and T&T Group have already invested in this area. Firms are eyes on the South of Hanoi area, therefore, it is forecasted that the area will receive many more real estate projects.

Investigating a series of issues in converting golden land in Hanoi, Saigon and Danang
The government inspector – Phan Van Sau has signed the Decision no. 3344/GD-TTCP in approving the inspection plans in 2017 which the agency will conduct 23 official inspections and 6 preventive inspections. Government Inspector will investigate the conduction of switching prime properties for public uses to properties for other purposes in HCMC, Hanoi, Khanh Hoa and Danang.

Five HCMC traffic projects expected in 2017
2-gate overpass connecting Truong Son and Tan Son Nhat Aiport, An Suong tunnel, connecting point between Nguyen Van Cu Bridge and Vo Van Kiet Avenue, etc. are the main projects which are expected to make the traffic congestion decrease. According to the Ministry of Transport, these projects must be completed within this year that is allowed by the Prime Minister – Mr. Nguyen Xuan Phuc following the emergency order.

Long Thanh Airport project: VND 5,000 billion for clearance separated into sub-projects 
According to Ministry of Transport, based on the expected schedule, the feasibility study report of Long Thanh International Airport project will be completed and presented to the National Assembly in 2018. Moreover, it is expected to be reviewed by the end of 2018 or early 2019. The Ministry of Transport has released a draft about the separation of the content for land acquisition and compensation, and resettlement into sub-projects.