La Residence Hue Hotel in the central province of Thua Thien-Hue. (Photo: VNA) Hanoi (VNA)– The real estate market in Vietnam has witnessed a burst of activity withinterest from both foreign and local investors.
In the last quarterof 2016, one of the contractors for Ho Chi Minh City’s first metro line, Maeda,partnered with Thien Duc, a local developer, to develop a 30-million-USDhigh-end residential project, Waterine Suites, according to Savills Vietnam.
The project is thefirst property investment by the Japan-based company after almost two decadesin Vietnam.
In the hotel sector,the global private equity investment firm, Warburg Pincus, joined hands withVinaCapital to build a 300-million-USD hotel, aiming to become a leadinghospitality platform in Vietnam and South East Asia.
Shortly after itsfoundation, the joint venture acquired a 50-percent stake in the Sofitel LegendMetropole Hanoi, a five-star hotel in the heart of the capital, from VietnamOpportunity Fund under VinaCapital, for approximately 100 million USD.
Meanwhile,Dubai-based real estate developer Limitless, an affiliate of the Dubai Worldholding group, resumed work on the 550-million-USD project Ha Long Star innorthern Vietnam. The project features about 2,000 villas, townhouses andapartments along with retail outlets, leisure facilities and hotels in Ha Long,Quang Ninh province, one of the most popular tourist destinations in thecountry.
In central Vietnam,VinaCapital and its joint venture partners, Gold Yield Enterprises and Sun CityGroup, have begun construction of the 4-billion-USD project HOIANA, aiming toturn it into Vietnam’s largest integrated resort. The first phase of theproject, scheduled for completion in early 2019, features a 685-room New WorldHotel, 100-key Rosewood Residences and Resort, Championship Golf Course and thelargest casino in Vietnam.
CBRE Vietnamannounced the launch of the CBRE Hotels Vietnam team earlier this year thatoffers hotel market research, consulting, valuation and capital markets servicesto meet increasing demand from hotel investors, developers, financiers andothers.
According to SavillsVietnam, Vietnam’s economy is a highlight in South East Asia and the country’sproperty market continues to show resilience, with consistent growth acrossdifferent sectors despite the ups and downs of the global economy.
Major real estatecompanies, especially local firms, are shifting their focus to low- to mid-endresidential developments to attract more buyers, targeting the young workforcewhich accounts for the majority of the country’s population.
The trend is towardssmaller units in locations with good accessibility, a full range of amenities,competitive pricing and favourable payment terms, the property servicesprovider said.
This market movement will to help the realestate sector in Vietnam continue its sustainable growth trend moving forward.-VNA
In the last quarterof 2016, one of the contractors for Ho Chi Minh City’s first metro line, Maeda,partnered with Thien Duc, a local developer, to develop a 30-million-USDhigh-end residential project, Waterine Suites, according to Savills Vietnam.
The project is thefirst property investment by the Japan-based company after almost two decadesin Vietnam.
In the hotel sector,the global private equity investment firm, Warburg Pincus, joined hands withVinaCapital to build a 300-million-USD hotel, aiming to become a leadinghospitality platform in Vietnam and South East Asia.
Shortly after itsfoundation, the joint venture acquired a 50-percent stake in the Sofitel LegendMetropole Hanoi, a five-star hotel in the heart of the capital, from VietnamOpportunity Fund under VinaCapital, for approximately 100 million USD.
Meanwhile,Dubai-based real estate developer Limitless, an affiliate of the Dubai Worldholding group, resumed work on the 550-million-USD project Ha Long Star innorthern Vietnam. The project features about 2,000 villas, townhouses andapartments along with retail outlets, leisure facilities and hotels in Ha Long,Quang Ninh province, one of the most popular tourist destinations in thecountry.
In central Vietnam,VinaCapital and its joint venture partners, Gold Yield Enterprises and Sun CityGroup, have begun construction of the 4-billion-USD project HOIANA, aiming toturn it into Vietnam’s largest integrated resort. The first phase of theproject, scheduled for completion in early 2019, features a 685-room New WorldHotel, 100-key Rosewood Residences and Resort, Championship Golf Course and thelargest casino in Vietnam.
CBRE Vietnamannounced the launch of the CBRE Hotels Vietnam team earlier this year thatoffers hotel market research, consulting, valuation and capital markets servicesto meet increasing demand from hotel investors, developers, financiers andothers.
According to SavillsVietnam, Vietnam’s economy is a highlight in South East Asia and the country’sproperty market continues to show resilience, with consistent growth acrossdifferent sectors despite the ups and downs of the global economy.
Major real estatecompanies, especially local firms, are shifting their focus to low- to mid-endresidential developments to attract more buyers, targeting the young workforcewhich accounts for the majority of the country’s population.
The trend is towardssmaller units in locations with good accessibility, a full range of amenities,competitive pricing and favourable payment terms, the property servicesprovider said.
This market movement will to help the realestate sector in Vietnam continue its sustainable growth trend moving forward.-VNA
VNA
