Monthly Real Estate News | May 2019 Monthly Real Estate News | May 2019 | Page 17

Daily Real Estate News Highlights Vietnam - 21 May 2019 Top 5 - Daily Updated Real Estate News Colliers International’s Residential Highlights is daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market. Lotte’s Eco-Smart City and Keppel Land’s Saigon Sports City pushed on Vietnam Investment Review The Ho Chi Minh City People’s Committee has requested related authorities to speed up the process of the $884 million Eco-Smart City invested by Korean giant Lotte Group and the $500 million Saigon Sports City invested by Singaporean Keppel Land. Administrative Eco-Smart City and Saigon Sports City are essential to turn Ho Chi procedures were among the key reasons behind the delay of Lotte’s Minh City into a smart city. Eco-Smart City and Keppel Land’s Saigon Sport City projects, said the city’s chairman Nguyen Thanh Phong at a meeting to review socioeconomic issues in the city in the first four months of the year, held on May 10. Long Thanh: a new wave of Southern real estate market Nguoi Lao Dong Dong Nai real estate market has seen a hidden wave of land-fund Dong Nai real estate market has hunting from property giants. Most of the reputable property firms seen a hidden wave of land-fund hunting from property giants. in HCMC has a presence in Dong Nai Market. In Bien Hoa City, top property investors like Novaland, Hung Thinh, Him Lam, Nam Long… have invested there, together with many large-scale projects to Retailer Auchan draws interest from buyers for Vietnam operations Deal Streat Asia French supermarket group Auchan Retail‘s plans to sell its loss-making business in Vietnam is already drawing interest from potential buyers, a company spokesman told Reuters. Earlier on Wednesday, Auchan Retail CEO Edgar Bonte told newspaper Les Echos that the group had decided to sell its 18 stores in Vietnam. Those Vietnam outlets currently generate revenue of 45 million euros ($50.4 million). Property developers not keen on workers’ housing Vietnam Investment Review Developers in the south are ignoring the workers’ housing segment despite the huge demand for it, analysts said. Pham Thi Lai, a worker in the southern Long An Province, said she and her husband had been working for over a decade but still rent a tiny house. No workers’ housing projects were planned in their area, and they could not afford to buy a commercial house, she said. Developers built industrial zones without housing for workers, she added. Market picture is still bright! Dau Tu Bat Dong San Despite records on certain declines in revenue and profits, in general, business picture of real estate sector in Q1-2019 is not too shabby compared to the same period last year. In a preliminary survey on 65 out of 66 listed property firms which have reported business results Q1-2019, they have generated a total of VND51.217 billion in revenue, and VND6,726 billion in after-tax profit. For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2017. All rights reserved. [email protected] colliers.com/vietnam