Vietnam’s Top Property News – Week 14/2021
The top residential and commercial real estate news of the Week 14/2021 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
PM Phuc is Vietnam’s new president
Vietnam’s new state president Nguyen Xuan Phuc
The National Assembly has passed a resolution appointing Prime Minister Nguyen Xuan Phuc as the country’s next president.
Phuc, 67, received more than 97 percent of the votes at a plenary session on Monday morning to become the 11th president since 1945, when President Ho Chi Minh read the Declaration of Independence to establish the Democratic Republic of Vietnam.
The state president is the country’s top representative in both internal and external affairs; and commander-in-chief of the armed forces.
His predecessor, Party chief Nguyen Phu Trong, stepped down last Friday after holding the office for more than two years since Tran Dai Quang died of illness in 2018.
Phuc was born in the central province of Quang Nam.
Between 1997 and 2006 he was chairman of the province, deputy inspector-general of the Government Inspectorate and chairman of the Government Office.
He became deputy prime minister in 2011 and prime minister in 2016.
He is a member of the Party Central Committee and Politburo.
Phuc was among the “special cases” — who exceeded the stipulated age limit — recommended by the Party Central Committee for reelection into the 13th Party Central Committee last January.
The Central Committee in January elected Nguyen Phu Trong as general secretary for a third term.
Also on Monday Phuc’s successor as prime minister is expected to take the oath.
Pham Minh Chinh, 63, head of the Central Organizing Commission, has been nominated for the position.
Source: VnExpress
Vietnam Airlines to resume commercial flights to Asian destinations this week
Vietnam Airlines will reopen international commercial flights connecting Hanoi and HCMC with several Asian destinations including South Korea, Japan and Australia, starting this Saturday.
The national flag carrier said flights from Hanoi to South Korea’s Incheon City will depart every Thursday while there will have seven flights from Hanoi to Japan’s Narita City in April, with the first scheduled to depart on April 3.
The carrier will also operate one flight from Hanoi to Australia’s Sydney every Saturday, while flights from HCMC to Sydney would depart every Thursday and Sunday.
On return trips, the carrier would only carry Vietnamese citizens being repatriated or foreign experts with permission to enter the country. Vietnam is yet to open its doors to foreign tourists.
A representative of the carrier said the resumption of these international routes are meant to meet growing travel demand of Vietnamese citizens wishing to study and work abroad as well as stranded foreigners longing to return home.
In addition to these routes, the national flag carrier is planning to operate inbound commercial flights to carry passengers from Japan, South Korea and Taiwan, but is awaiting the government’s approval for this move.
An aircraft of Vietnam Airlines prepares to take off from Noi Bai International Airport in Hanoi. Photo courtesy of Vietnam Airlines
Vietnam closed national borders and canceled all international flights in March last year. Since then, only Vietnamese repatriates, foreign experts and highly-skilled workers are being allowed in with stringent conditions.
Vietnam Airlines had said earlier that it is awaiting approval from the U.S. government to launch regular direct flights to that country.
Vietnamese aviation authorities Wednesday proposed allowing vaccinated foreign passengers into the country from September without requiring centralized quarantine.
Source: VnExpress
Fitch Ratings revises Vietnam’s outlook to positive
The Fitch Ratings building in London, the U.K. Photo by Shutterstock/Willy Barton
Fitch Ratings has upgraded Vietnam’s outlook to positive from stable and retained its credit rating at BB.
The upgrading of the outlook indicates the country’s ability to recover from the pandemic sine Vietnam was one of the few countries in the Asia-Pacific region to achieve positive economic growth last year.
Explaining its revision to positive, Fitch said Vietnam has been successful in bringing the coronavirus outbreak swiftly under control alongside strong policy support and export demand.
Vietnam’s GDP growth last year was export-fueled, with exports increasing by 6.5 percent, according to the General Statistic Office.
Fitch forecasts growth of 7 percent in 2021 and 2022 in line with the global economic recovery, sustained export growth and a gradual normalization of economic activity.
Vietnam’s effort to sustain high growth, reduce the GDP per capita gap with Vietnam’s BB peers while maintaining macroeconomic stability, further improvement in public finances through sustainable fiscal consolidation and debt stabilization are factors that could lead to a outlook rating upgrade in the near future.
In March another credit rating firm, Moody’s, had upgraded Vietnam’s outlook from negative to positive thanks to improvements in its fiscal strength and the global manufacturing shift to the country.
The Ministry of Finance attributed the upgrades in Vietnam’s outlook to the efforts to maintain economic stability and providing full and accurate information to credit rating agencies.
According to the U.S. credit rating agency, BB indicates an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time, but there is financial flexibility that supports the servicing of financial commitments.
Source: VnExpress
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