Ho Chi Minh City to secure top positions for investment prospects in Asia Pacific
Vietnam continues to draw investment interest, and Ho Chi Minh City stands out on investors’ lists, securing top positions for investment and development prospects in Asia Pacific.
In Vietnam, rapidly rising numbers of tourists are providing a huge boost to the hospitality sector. The country's property market has seen dynamic investment activities across many sectors in the first quarter of 2018, according to the latest report from Savills Hotels.
Vietnam's economy posted its strongest first-quarter growth in ten years, expanding 7.38% year-on-year in the first quarter of 2018 and extending the strong momentum shown in the second half of 2017. Market sentiment remains positive across all sectors of the economy.
The city’s office market continued to record healthy demand and high occupancy in the first quarter of 2018. There were, however, very few investment transactions in this sector due to the shortage of available properties for sale. A notable transaction was the January acquisition by Nomura Real Estate of a 24% ownership interest in Sun Wah Tower, a Grade A office building in Ho Chi Minh City, the real estate services firm said.
Investors were seeking to acquire development and properties sites in Vietnam’s hospitality sector, amid increasing consumer demand and surging international arrivals to the country.
In January, Japan’s Mikazuki Hotel Group announced plans to invest US$100 million in a project in Da Nang city. Covering an area of nearly 11.5 hectares, the development aims to accommodate a five-star hotel, waterpark, theme park and F&B complex fronting the beach in Da Nang. Also in the first quarter, a Vietnam-based investment company, Bamboo Capital, acquired the Malibu resort project for approximately US$14.8 million from Indochina Hoi An Beach Villas Co., Ltd.
Vietnam's property market remained an attractive prospect for developers interested in mixed-use projects with residential components in major cities.
In March, 2018, CapitaLand acquired an approximately 0.9 hectare site in a prime location within Hanoi’s Tay Ho District. The project will comprise a 380-unit residence, around 21,400 sqm of office space, and over 19,300 sqm of retail space. This latest acquisition will expand CapitaLand’s portfolio to 12 residential developments, one integrated development and 21 serviced residences, across six cities in Vietnam.
Another Singaporean developer, Keppel Land, acquired the remaining 10% stake in Jencity Limited, which has plans to build a township – Saigon Sports City - for approximately US$11.4 million. Covering an area of 64 hectares, the township will comprise about 4,300 premium homes and Vietnam’s first one-stop lifestyle hub with comprehensive facilities for sports, entertainment, shopping and dining.
Ho Chi Minh City.
|
The city’s office market continued to record healthy demand and high occupancy in the first quarter of 2018. There were, however, very few investment transactions in this sector due to the shortage of available properties for sale. A notable transaction was the January acquisition by Nomura Real Estate of a 24% ownership interest in Sun Wah Tower, a Grade A office building in Ho Chi Minh City, the real estate services firm said.
Investors were seeking to acquire development and properties sites in Vietnam’s hospitality sector, amid increasing consumer demand and surging international arrivals to the country.
In January, Japan’s Mikazuki Hotel Group announced plans to invest US$100 million in a project in Da Nang city. Covering an area of nearly 11.5 hectares, the development aims to accommodate a five-star hotel, waterpark, theme park and F&B complex fronting the beach in Da Nang. Also in the first quarter, a Vietnam-based investment company, Bamboo Capital, acquired the Malibu resort project for approximately US$14.8 million from Indochina Hoi An Beach Villas Co., Ltd.
Vietnam's property market remained an attractive prospect for developers interested in mixed-use projects with residential components in major cities.
In March, 2018, CapitaLand acquired an approximately 0.9 hectare site in a prime location within Hanoi’s Tay Ho District. The project will comprise a 380-unit residence, around 21,400 sqm of office space, and over 19,300 sqm of retail space. This latest acquisition will expand CapitaLand’s portfolio to 12 residential developments, one integrated development and 21 serviced residences, across six cities in Vietnam.
Another Singaporean developer, Keppel Land, acquired the remaining 10% stake in Jencity Limited, which has plans to build a township – Saigon Sports City - for approximately US$11.4 million. Covering an area of 64 hectares, the township will comprise about 4,300 premium homes and Vietnam’s first one-stop lifestyle hub with comprehensive facilities for sports, entertainment, shopping and dining.
16:35, 2024/10/22
New international brands diversify Hanoi hotel offerings
Hanoi's hotel market is also experiencing a decline in rental rates amid the seasonal lull in tourism and leisure activities.
20:57, 2024/10/21
Hanoi set to deliver new luxury apartments this quarter
Over 19,000 new apartments were delivered in the first nine months of this year, surpassing the total supply in 2023.
20:10, 2024/09/25
Hanoi's real estate market soars: Apartment transactions up 101%
The mid-range segment in Hanoi will continue to play a significant role in supply.
18:57, 2024/08/24
Hanoi to add 8,300 apartments to social housing reserves by 2029
Along with relieving housing pressure in central urban areas, the new social housing projects will also help to expand residential zones beyond the city's borders.
16:10, 2024/08/05
Hanoi real estate market: Developing in right direction
The price increase for apartments in Hanoi in the first half of 2024 compared to the beginning of 2023 is 31%.
15:54, 2024/08/03
Property prices in Hanoi, Ho Chi Minh City driven by speculators: experts
Specialists expect that new legislation will help to tighten market control and thus bring prices down.
- Vietnam to mobilize resources for social housing development
- Vietnam’s real estate market back on road to recovery
- Booming West Hanoi property driven by infrastructure investments
- Hospitality real estate attracts remittances: VARS
- Supply constraints keep housing prices high: expert
- Real estate prices are on the rise in downtown Hanoi