Vietnam’s second-home segment on the rise
Kenneth Atkinson, founder and senior board adviser at Grant Thornton Vietnam, shares with Bich Ngoc his opinion on the future for Vietnam’s second home market. Vietnam has been one of the top-performing inbound tourism markets over the last few years. In January, the country received just under 2 million foreign visitors in one month alone. Much of this rapid increase in inbound tourists has come from China, South Korea, and Japan, who together have contributed more than 50 per cent to the inbound tourism market. Tourism is a major contributor to national GDP with over 10 per cent and has contributed to the country becoming one of the fastest-growing economies in the world with GDP growth at over 7 per cent in the last two years. Foreign direct investment (FDI) has also seen record highs. Among the top five investors, China has just taken the fifth position in 2019, right behind the four top investor markets South Korea, Hong Kong, Singapore, and Japan. The FDI stream from these Asian economies has also led to a significant increase in interest from property buyers.
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Vinhomes launches online real estate transaction floor
Vinhomes Joint Stock Company launched its online real estate trading floor today, connecting investors with customers through computer screens or smartphones. With the motto 'Stay home - Buy home', this online trading floor provides customers with information on the location, planning as well as sales documents of the projects. Sales policies, preferential programmes and selling prices will be published accurately, publicly and transparently. Customers will be able to buy homes at the original price through only four steps, namely sign up/sign in, searching for products, choosing products, and depositing/ordering. The Vinhomes sales team is available 24/7 to assist customers to complete documents and procedures quickly and legally during the online buying process.
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http://bizhub.vn/property/vinhomes-launches-online-real-estate-transaction-floor_314686.html
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Promptly implementing key transport infrastructure projects in Dong Nai
A series of key infrastructure projects in Dong Nai province are speeding up, making the real estate market here get increasingly vibrant. Recently, the Prime Minister has proposed Dong Nai to disburse VND 17,000 billion to Long Thanh airport this year. Previously, the People's Committee of Dong Nai Province also proposed to the Government many solutions to accelerate transport infrastructure projects in the province in order to create development motivation for the southern key economic regions such as: expanding Ho Chi Minh City - Long Thanh - Dau Giay highway, Ben Luc - Long Thanh expressway, Bien Hoa - Vung Tau expressway, Vanh Dai 3 Road, etc. In addition, a number of other infrastructure projects are also being accelerated by Dong Nai to start construction soon, including Huong Lo 2 project - one of the four key projects in the city, officially commencing in 2020.
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Empire City leaders vow to kick off 88-storey tower
Work is to start in 2020 on the basement level of a 88-storey tower complex in Ho Chi Minh City, the landmark building in the Empire City project, with many outstanding obstacles are on the way to finally being cleared. The joint venture for the $1.2 billion Thu Thiem Observation Tower complex in District 2 is set to be Vietnam’s tallest such tower. According to Vo Sy Nhan, general director of Empire City – the joint venture backing the project – the company recently sent documents to competent bodies of the city to ask for the pushing ahead of legal procedures related to the project.
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https://www.vir.com.vn/empire-city-leaders-vow-to-kick-off-88-storey-tower-75508.html
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Vietnam could receive Japan-made metro trains in Q2
Trains ordered to serve HCMC’s first metro line, which connects Ben Thanh Market in downtown HCMC and Suoi Tien Theme Park in District 9, are expected to be shipped to Vietnam from Japan in the second quarter of the year. The HCMC Urban Railway Management Board in an announcement issued on April 13 noted that experts and engineers from Hitachi, the Japanese manufacturer of the trains, are conducting the final tests on the trains in Japan before delivering them to Vietnam. Each train will have three cars in the first phase, with a total length of 61.5 meters, and can transport 930 passengers, with 147 sitting and 783 standing. The maximum speed is set at 110 kilometers per hour on elevated sections and 80 kilometers per hour in underground sections. Each train will be extended to have six cars in the future, with a total length of 121.5 meters.
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https://english.thesaigontimes.vn/76097/vietnam-could-receive-japan-made-metro-trains-in-q2.html
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Quang Nam prioritizes green FDI projects
The central province of Quang Nam expects to welcome more FDI projects promoting green growth, according to Chairman of the provincial People’s Committee Le Tri Thanh. He expressed his appreciation of all FDI projects in the province that have significantly contributed to local socio-economic development. He cited the fact that FDI firms have contributed about 89.34 million USD to the provincial budget, exported 751.24 million USD worth of goods, and employed over 55,000 local workers. The province plans to pursue green growth in the long term, he went on, so it is giving priority to investment in three industries - manufacturing and processing, electronics and telecommunications, and renewable energy - and will ensure the most suitable conditions possible are provided to investors.
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https://www.vir.com.vn/quang-nam-prioritises-green-fdi-projects-75545.html
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Ba Ria – Vung Tau to grant ownership certificates for condotels
The People’s Committee of Ba Ria – Vung Tau Province has urged relevant departments to speed up issuance of ownership certificates for condotels to ensure the healthy development of the segment. The municipal Department of Natural Resources and Environment would be in charge of providing detailed instructions for granting land and house ownership certificates for condotels. Ba Ria – Vung Tau People’s Committee also asked the Department of Construction to tighten the management on construction planning and urban development related to condotels. In addition, inspections on adjustments of planning and conversion of real estate projects must be strengthened to prevent violations.
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http://bizhub.vn/property/ba-ria-vung-tau-to-grant-ownership-certificates-for-condotels_314788.html
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Key fly-over bridge to boost west zone traffic links
Trung Nam Land company, a member of Trung Nam Group, has proposed a plan to build a fly-over bridge on the Nam Hải Vân-Túy Loan ring-road. Chairman of Trung Nam Group, Nguyễn Tâm Thịnh, said the fly-over would help ease traffic on the ring-road and the La Sơn-Túy Loan Expressway, while creating a safe route for residents travelling between Hòa Vang and Liên Chiểu districts. He said the bridge would be built from the group’s fund of VNĐ120 billion (US$5.2 million). The city’s construction department said the fly-over would reduce ground level junctions with the ring-road and the expressway, while boosting traffic connection among planned Liên Chiểu port, north-south railway and highway system; industrial parks, Kim Liên railway cargo station and the East-West Economic Corridor that links Myanmar, Thailand, Laos and Việt Nam.
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https://vietnamnews.vn/economy/715225/key-fly-over-bridge-to-boost-west-zone-traffic-links.html
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Dong Nai industrial parks boost investment
According to the provincial economic development strategy, the southeastern province of Dong Nai has planned 35 industrial parks including 32 industrial parks on 10,240.45ha and a 78.51 percent occupancy rate. Dong Nai has developed industrial parks according to four criteria - location, infrastructure investment unit, opportunity to attract investment and demand for industrial park activities. In the first two months of 2020, Dong Nai’s industrial parks attracted 20 FDI projects with total capital of US$62.2 million and 20 projects increased capital by a total of US$133 million. In addition, investment registration certificate was granted for a domestic project with capital of VND300 billion. So, the province attracted a total of US$195.3 million through new and ongoing projects.
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http://ven.vn/dong-nai-industrial-parks-boost-investment-42520.html
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Agricultural land price increases during COVID-19
While most of the realty segment has struggled during the COVID-19 pandemic, agricultural land is still a hot investment as more people want to return to rural areas for a more environmentally-friendly life. According to land brokers, the prices of agriculture land have doubled and tripled in Viet Nam’s southern provinces, as many buyers leave the city for the countryside. The trend encouraging people to move from the city to the outskirts started more than a year ago and increased due to the pandemic. Social distancing measures have urged more people to look for gardens and agricultural land instead of being locked down in a crowded city. “The trend is making land prices rise,” said land broker Nguyen Tung Lam.
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http://bizhub.vn/property/agricultural-land-price-increases-during-covid-19_314809.html