Tuesday, August 18, 2015

Real estate developers in final rush

Real estate developers in final rush

Developers are actively pushing their sales campaigns to sell units to Vietnamese buyers before the year ends.

Real estate developers double efforts to secure sales as the market is heating up
Last week, CapitaLand launched 200 units in the Orchid building, the best building of Vista Verde, with more than 100 units registered to buyers.
According to Nguyen Thuy Duong, director of Marketing and Business of South CapitaLand, more than 100 units were sold at the launching ceremony, confirming the allure of the real estate market in the eastern areas of Ho Chi Minh City. Located at an ideal venue in District 2, Vista Verde is expected to produce high profit, with the price increasing by 30 per cent since the end of 2014.
Meanwhile, another domestic developer, Vingroup, has been continuously pushing its projects. Among these is Vinhomes Central Park in Ho Chi Minh City, with thousands of units on offer.
Vingroup has also announced its new partnership with Saigon Port to develop a 32-hectare prime site at the Khanh Hoi port waiting to be removed in District 4 in the eastern area of the city.
Dai Quang Minh Real Estate Company has also introduced two new condominium projects in District 2 to the market last week. The Sarica Condominium and Sadora Apartment projects will offer combined 780 units to the market. Those projects will be finished in mid-2017.
In the third quarter of 2015, positive market momentum continued, boosting new launch activities and sales performance.
According to CBRE Vietnam, a total of 10,114 new units were launched from 26 projects, triple the number seen in the same period last year. By location, new supply from the south, encompassing districts 4, 7, 8, and Nha Be, accounted for 36 per cent of the total newly-launched stock, while the recent hot spot in the east (districts 2, 9, Binh Thanh, and Thu Duc) accounted for a more modest 29 per cent this quarter.
“The market is believed to witness more competition between these two hot zones in the coming time, especially in the context that the Thu Thiem new urban area in the east has begun development, with the first condominium blocks, called Sarimi, being launched in the third quarter of 2015,” said Dung Duong, director of CBRE Vietnam’s Research and Consulting.
The review quarter also witnessed a repackaging of some long-delayed projects where new developers have taken over and revitalised developments by providing more finance or redesigning the unit layout, size, and mix.
These projects include City Gate Towers (District 8), Linh Tay Tower (Thu Duc district), and C.T. Plaza Nguyen Hong (Go Vap District).
CBRE Vietnam commented that overall, market sentiment remained relatively positive despite the “ghost month,” with good cash inflow from buyers. 
An estimated 7,862 units were sold during the quarter, signifying an increase by 88 per cent year-on-year.  Continuing the trend from last quarter, high-end apartments still account for an increasing share of units sold.
For the first nine months of 2015, high-end apartment sales accounted for 35 per cent, up from the 32 per cent reported at the end of 2014.
However, cautiously looking at the sales performance of new launches in the third quarter of 2015 showed an absorption rate of 35.1 per cent, partly due to the fact that buyers lack confidence in suspended developments.

Tel: +84988060330 English. +84988060220 Chinese.

First American-style development on offer in Hanoi: GoldSeason

First American-style development on offer in Hanoi: GoldSeason

US design firm Moore Ruble Yudell Architects & Planners (MRY)’s first project in Vietnam, the GoldSeason residential project in Hanoi, is going on sales on December 27. James Mary O’Connor, one of MRY’s principals, talked to VIR’s Ha Duy about the company’s ambition to create a new Manhattan in Hanoi with GoldSeason and its hope that GoldSeason will be the first of many fantastic projects of MRY in this country.”

Architect James Mary O’Connor
Why did MRY choose GoldSeason to be your first project in Vietnam? What attracted MRY?
We are attracted and inspired by having an investor who has very high ambitions and aspirations for this project. We are also attracted by the unique place and context of Hanoi with its many fascinating layers of history, culture and natural environment of lakes, rivers and parks in Hanoi.
How would you describe the architecture of GoldSeason?
It is called “New Manhattan in Hanoi” - a complex of privacy, tranquility and safety opposition in contrast with a bustling noisy city. As an elegant metropolis with healthy urban development, vibrant new life in Old Quarter and modern towers around a public garden, GoldSeason will be masterpiece of art, architecture and landscape. This creates a new standard of residential living and weaves a city and nature with contemporary modern style in Hanoi.
We designed the complex in the concept of the autumn leaf. This concept brings out all the aspects that we want to express in the project: nature, colors, connections. Autumn is the best, most pleasant season in Hanoi. The beautiful colour of autumn leaves is reflected in the project name, “GoldSeason”. The theme of the spreading “autumn leaf” also fits our landscape concept of a central park that reaches out to the four towers. From the central public park fronting Nguyen Tuan Street, pedestrian paths symbolise the leaf’s blade and veins, branching out to connect to the four towers. A plaza is configured as the central “heart” of the urban park, where active gathering, interaction and diverse activities can take place like in an American park (called Manhattan Park) right in the project.

GoldSeason has a new standard of residential living and is considered as “New Manhattan in Hanoi”
Moreover, we brought to GoldSeason American style interior design which is simple but modern with high ceilings. All of the rooms have natural light without columns and dead corners. Apartments have beautiful views from large windows in all rooms and glass balconies. This makes homeowners relaxed.
How is GoldSeason different from other high-end residential projects in Hanoi?
The typical architecture for high-rise residential towers in Hanoi does not have a strong, distinctive identity. The design for these buildings tends to be driven by the interior unit floor plans and is unrelated to its surroundings.  With GoldSeason, we have created an architectural design that is more distinctive, nuanced and less repetitive. The design of GoldSeason is not only about making great interior spaces and unit plans, but also about connecting all of the outside spaces.
How about landscape design?
The landscape and open space design is critical in all our projects, and we consider landscape and architecture to be complementary to each other. For GoldSeason, it is crucial to bring the quality of Hanoi landscape and nature into the buildings. The project is not only about the buildings, but also about connecting to the natural environment. People’s lives are better when they have this connection to nature. Breakthrough in landscape design at GoldSeason is open space and secret gardens, which creates a special attraction.

Tel: +84988060330 English. +84988060220 Chinese.

Tuesday, August 11, 2015

Recovery leads to rush in Vietnam’s real estate market

Recovery leads to rush in Vietnam’s real estate market

Vietnam’s real estate market is still in the early stages of recovery, but is already experiencing a rush of new foreign capital inflows.
Japan’s Creed Group, a real estate firm specialising in principal investment and property development, has recently signed a contract to invest $200 million in An Gia Real Estate Investment and Development JSC to develop Japanese style houses in Ho Chi Minh City.
According to Masakazu Yamaguchi, chief representative of Ho Chi Minh City-based Creed Holdings, the fund first came to Vietnam in 2012, however, business did not begin until 2015, when the market recovered. In 2014, Creed acquired its first local partner - 577 Investment Corporation. The partnership included a bond subscription to develop the City Gate Towers project, buying new shares issued by 577 Investment.
In 2015, Creed continued to expand, partnering with An Gia Investment to develop new residential projects at a 50:50 ratio, providing loans and purchasing shares in the company.
“Vietnam has a very young population that is mostly concentrated in urban areas. Housing demand will continue to grow in the future. With new regulations relating to land and housing becoming more open and relaxed, this will create more opportunities for foreigners to buy houses and investment opportunities for foreign investors,” Yamaguchi said.
Also from Japan, Tokyu co-invested with Vietnam’s Becamex IDC in the Garden City, a residential project in the southern province of Binh Duong, with the total investment of $1.2 billion.
VinaCapital has recently poured $15 million into Novaland and Warburg Pincus further invested $100 million in Vincom Retail, increasing its total investment in the company to $300 million.
Meanwhile, the UK-based Denver Power has joined with Tien Phuoc and Tran Thai joint stock companies to invest in the 86-storey Empire City in Ho Chi Minh City, with the total investment capital of $1.2 billion.
“100 per cent foreign ownership of publicly listed companies in non-sensitive sectors will be permitted beginning on September 1, 2015, which will only serve to boost property acquisitions by international investors,” said Marc Townsend of CBRE Vietnam, adding that Japan, Singapore, South Korea and Hong Kong had been the most active in Vietnam’s real estate sector, and investment would only increase in light of the new regulations.
Vietnam’s property market attracted $1.69 billion in foreign direct investment (FDI) for 15 new projects in the first seven months of 2015, according to the Foreign Investment Agency. This figure accounted for 19.3 per cent of the country’s total newly-registered FDI during the period.

Tel: +84988060330 English. +84988060220 Chinese.

 

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