Hottest real estate issues of 2009

There are six issues that VnMedia believes are the most outstanding points of the 2009 property market.

One “book” for the land and house

From December 10, 2009, the Government’s Decree No 88 on granting land and house ownership certificate took effect, under which, only a single certificate will be granted to certify the land use right and house ownership of people. Before the decree validity, people still had to get two separate certificates for land use rights and homeownership, which are called “pink” and “red” books.

The decree will help simplify procedures, be more convenient and will help government agencies in management work.

Apartments not allowed to used as offices

On November 19, the Ministry of Construction released a decision on prohibiting the use of apartments as offices.

According to the ministry, the use of apartments as offices violates current laws, while negatively affecting the life of families in the same apartment blocs. The decision has met with strong opposition from businesses, especially small ones, which say they do not have budgets to lease big offices.

Real estate developer organizes lucky draw

On November 4, thousands of hopeful visitors crowded the sales office of the Nam Cuong Real Estate Co. on November 2-3 to register for a “lucky draw.” The prizes are the right to buy an apartment at its original price.

For the first time, the option to purchase apartments was selected by a lucky draw and in a transparent way.

Personal income tax on real estate assignment deals

Since September 26, the personal income taxation on real estate assignment deals has been implemented under the Circular No 161 by the Ministry of Finance. Tax payers will either pay 25 percent on taxable income or two percent on sales.

Local media has reported that many investors have preferred to pay two percent on sales, which allows them to reduce taxes up to 50 percent.

Projects booming

Despite the economic downturn in 2008, the real estate market remains very attractive to investors, especially in Hanoi and HCM City.

Real estate investors launched a lot of big projects in 2009, including Nam An KHanh, Bac An Khanh, Ecopark and Diamon Park in Hanoi, and Blooming Park, The Vista, Riverside in HCM City.

Old flats selling like hot cakes

The year 2009 witnessed a “fever attack” on old flats in advantageous positions like Giang Vo, Thanh Cong and Thai Ha areas, with the prices increasing by 2-3 billion dong per apartment.

People rush to purchase the old flats because they hear that the city’s authorities will upgrade old flats or build new apartments and the owners of the old flats will have priority to purchase them.

Source: VnMedia

Construction update – December 2009

Viettel Complex Building

Riviera Cove

Come home to your private waterfront resort in the exclusive compound that is Riviera Cove. Comprising 96 luxury villas located in serene District 9, Riviera Cove offers discerning homeowners the perfect combination of tranquility and convenience

Excellent location

Whether it is a game of golf at the Vietnam Golf and Country Club (Thu Duc Golf Course), or a downtown outing in District 1, everything is within easy reach.

Perfect indulgence

Relax in style by the outdoor lap pool or take a scenic stroll along the waterfront promenade. Enjoy the delighted faces of your children as they frolic in their very own pool and playground. Soak away the cares of the day in the Jacuzzi or tone your body with workouts at the gym in the Clubhouse. Relish the convenience of having a Mini-mart within your compound. Challenge loved ones to a friendly game of tennis or go for a brisk run along the winding jogging trail.

Impeccable design

Each of the stunning villas at Riviera Cove has been thoughtfully designed to integrate seamlessly with the surrounding tropical landscape. Lush landscaping and elegant low-rise architecture combine to create an ambience of total relaxation for the true resort lifestyle.

For your added peace of mind, Riviera Cove’s back up generator ensures uninterrupted power at all times. Spacious driveways, private car porches and discrete round-the-clock security complete the ideal vision of the most exclusive riverfront community.

Choose the perfect home for you and your loved ones from three different themes:

River Villas

Garden Villas

Clubhouse Villas

For further information, please contact:

Keppel Land Limited
Sales Office: Suite 6, 7th Floor, Saigon Centre,
65 Le Loi Boulevard, District 1, HCMC
Phone: 848 3898 9999 – Email: info@rivieracove.com.vn

Dai An New Urban City

Located at Van Giang District,Hung Yen Province, only 12.7 km far from Hanoi CBD. The project is developed along the old highway 5A Hanoi – Hai Phong and the new highway 5B Hanoi – Quang Ninh, next to the industrial parks such as Nhu Quynh A IP, Nhu Quynh B IP, Pho Noi A IP, Pho Noi B IP, Minh Duc IP.

The purpose of the project is supplying housing, services for local and foreign companies.

Legal Basis:

– Document No 1796/UBND – KTTH dated December 20,2007 of approval for the development of Dai An New Urban Project.

– Decision No 963/QĐ – UBND dated May 14, 2008 of approval for detail planning 1/2000 of Dai An New Urban City.

Overall planning

Residential area: It is divided into 5 zones, along the main roads and Bac Hung Hai river.

– Zone 1: Located at the north bordered with Nhu Quynh Town.
– Zone 2,3,4,5: Located at the south; on the Bac Hung Hai river side and road 207B

Services: Administrative center, shopping center, supermarket, sport center, petrol station…

Type: Mixed-use; Residential,retail, office, hotel

Total land area: 347 hectare
Site coverage : 24%
Plot ratio : 0.74 – 5.7
Maximum heigh : 60 meter
Total land area : 347 hectare
Project time : 10 – 15 years
Estimated investment capital: US$ 7 billion

For further infomation, please contact:

Dung Thanh Group
161 Pasteur Street, Ward 6, District 3, Ho Chi Minh City, Viet Nam
Tel: 84.8.3290 9346 – Fax: 84.8.3829 1347
Email : dungthanh9@viettel.vn

New Pearl Residence

Vnre.blogspot.com – According to information from Ky Nguyen Real Estate Joint Stock Company (a member of the Phuong Trang Cars-Real Estate Investment JSC), on November 28, 2009, the company will hold a ceremony to launch construction of the apartment advanced combined service, at 192 Nam Ky Khoi Nghia street, District 3, HCMC, namely New Pearl.

New Pearl Building on Nam Ky Khoi Nghia road, near Nguyen Dinh Chieu Coop-Mart supermarket, with broader campus 2.200m2. The building consists of a single block, built with a density of 59.15% (about 1.300m2) consists of 18 storeys, 2 basements, the total floor area of about 14.500m2, provides for market 120 luxury apartments.

A representative of the investor, during the conversation with reporters, said: “New Pearl be worth of the mouth of the Saigon has long dreams:” Eat in District 5, asleep in District 3″, moreover the building well is the pride of the city, because it shines right route, each year welcomes millions of international tourists to visit “The pearl of the Far East.

Following the investor, New Pearl was designed by architect Aedas Vietnam company (member of the Aedas UK corporation), structure and the electrical was designed by Connel Wagner Vietnam Company (the Connel Wagner corporation of Australia). The building is not only stunning beauty, but also meets the most strict criteria: the concrete, electrical, fire… follows the American standard; fighting system is standard Australia… New Pearl is designed with full facilities and many most advanced features and special sound-insulated by application of the solution structure and use new materials.

The entire building has around back, limit 10m to 12m from the road, have a large hall, airy, many trees should be pretty quiet space, bringing freely time for residents after a working day. Two large basement, make sure each apartment has at least one car parking (very rare in the apartment building in the HCM City today, especially at the city center area), floor first and second floors of the building blocks are for services – commercial and community activities. Right here, the apartment owner where joint activities, child care, keeping room, swimming pool, gym room… With a total area of about 1.000m2. The floors were for apartments, with area from 93m2 per unit to 255.6m2 per unit, designed and constructed meticulously to detail, high aesthetic. Entire building using advanced materials, hand over to customers as complete.

With the enthusiastic of founding members (Phuong Trang Cars-Real Estate Investment JSC, Saigon 5 Trade Company, Duc Khai Company and the Saigon Bank Joint Stock Commercial) with staff, and foreign experts in the project will contribute to the city a new pearl: “New Pearl” Glistening to shine at the heart of the city, worthy of the name meaning as well as criteria that the investor desired.

The total investment is more than 700 billions VND, is expected to finalize the basement and opening sale in 2010, to hand over apartments to customers after 18 months of construction.

For further information, please contact:

Ky Nguyen Real Estate Company
Add: 317 Pham Ngu Lao Street, District 1, HCMC
Tel: 84.8.3920 4737

Thach Ban Garden City

Thach Ban Garden City, a mixed development over a land area of 31.69 ha / 78.32 acre with infrastructures and services cater for future development.

Located on the east of Hanoi City, under Thach Ban Ward, Long Bien District

The development site is bounded on the North and North-West by Cau Hamlet, Thach Ban Ward and by 3rd Ring Road, connecting Thanh Tri Bridge to National Road No. 5 and new National Road No. 1 on the South-East. South of the development site lies the agricultural irrigation canal system, Song Cau Gay, of Thach Ban Ward.

This development has a planned Gross Floor Area of 558,418 sqm and a total nett saleable area of approximately 273,158 sqm.

The Thach Ban Garden City is absolutely the city for the future with comprehensive facilities including retail areas, entertainment areas, sports center, schools and hospitals.

Location

– 9km and 30 mins from Hoan Kiem Area/central Hanoi
– 5km from SAVICO Plaza, which will be the second largest retail area in Hanoi.
– Along Ring Road No. 3 connecting to Thanh Tri Bridge
– 3 main entrances to reach Thach Ban Garden City from Hanoi
1. Chuong Duong Bridge -> Nguyen Van Linh -> Ring Road No.3 -> TBGC
2. Vinh Tuy Bridge -> internal road of Sai Dong IP -> Ring Road No.3 -> TBGC
3. Thanh Tri Bridge -> TBCG

Project

– Prestigious and experienced foreign developer
– First mover in the market with first international development quality in the East of Red River
– Basically comprehensive infrastructure
– High density in landscape and low density in construction
– Large-scaled and mixed-use development of adequate and convenient facilities
– Modern and comfortable township
Master Plan Vision

To ensure the promotion of sustainable growth in the community by improving the quality of life of residents, providing contemporary housing, access to modern infrastructure, and promotes the creation of new business enterprises and, thus, more economic opportunities for residents.

Development Components

The development is planned with the following development precincts as follows:-

A. Grand Gateway Zone: Consisting of Shopping Mall, Office Blocks, Hotel and Serviced Apartments;

B. International School Zone: Comprising of Education up to pre-Tertiary Students

C. 3 Residential Precincts: Accommodating 1,673 residential units as follows

i. Garden Avenue – A gated development consisting of 3 storey Terrace Bungalow
ii. Avenue Park and Canal Park – 6 blocks of medium rise apartments sited in a park environment
and located alongside the canal
iii. Crescent Park – 2 blocks of medium rise apartments

D. Public Services: Consist of Administration blocks, Medical Centre, Commercials and Clubhouse

The project is planned to be implemented in 7 phases, commencing with 2 blocks of apartments, 148 units, with a saleable area of about 17,699 sqm in the Canal Park Precinct, in the 4th quarter of year 2009.

For product and general sales enquiries, please contact at:

Berjaya – Handico12 CO. LTD
The Pavilion, Thach Ban Garden City
Thach Ban Ward, Long Bien District, Ha Noi, Viet Nam
Tel: 84.4.3652 6666 – 0987 952 938 – Fax: 84.4.3652 6668
Email: sales@berjayahandico12.com

Hoa Binh Green Apartment

Location

Hoa Binh Green Apartment locates strategically in Ba Dinh district, No. 2, 376 Alley, Buoi Road, Ha Noi, 700 meters from West Lake towards Eastern North.

Hoa Binh Green Apartment’s location on Doi Nhan Street is convenient for transportation, connecting Vinh Phuc and Buoi Road and 3 kilometers from Ba Dinh Historical Square towards the East. Hoa Binh Green Apartment will be surrounded by a green space of Thu Le Park and West Lake.

Apartments

Hoa Binh Green Apartment includes 153 units with different types from two to three bedrooms.

The creative and reasonable design will bring a warm and friendly living space to customer.

Type 1: Apt 1 – Type 2: Apt 2 & 8
Type 3: Apt 3 & 7 – Type 4: Apt 4 & 6
Type 5: Apt 5 – Type 6: Apt 9

Facility

– Mini supermarket – Restaurant
– Kindergarten – Cinema – Bar
– Swimming pool – Gymnastic – Jacuzzi
– Roof garden – Golf link

Technology

– New technologies allow the building’s structure to withstand up to earthquakes of 8 richter.
– The most sophisticated technology for glass, Sunergy, a pyrolytic coated glass that combines solar control with thermal insulation.
– An innovative air- conditioning system – VRV (Variable Refrigerant Volume) with 410A gas will be used for the building.
– An advanced, modern elevator system.
– A fire detection and alarm system which complies with international standard.
– The intelligent camera system to monitor 24h.

Environment friendly

– An innovative air-conditioning system protect for living environment.
– System for deodorizing and decontaminating kitchen and restrooms.
– Smart systems for ventilation and air handling.
– Biological wastewater treatment system.
– Green surrounding area.

For further information, please contact:

Hoa Binh Green Apartment
No. 2, 376 Alley, Buoi Road – Ba Dinh District – Hanoi
Tel: 04.3755 5566 – Fax: 84.4.3755 51 25.

Sales: 22nd floor, Hoa Binh Office Tower
106 Hoang Quoc Viet – Cau Giay – Ha Noi
Hotlines: (84) 0933 668 366 – Email: sales@hoabinhre.vn

Novotel Saigon Centre to open in the city centre

Vietnam’s largest international hotel operator, Accor, today announced the development of the Novotel Saigon Centre. The 350 room hotel is to be built in the city centre in District 1 and is scheduled to open in 2012.

Novotel Saigon Centre will be located on the site of the current Metropole Hotel, a well-recognised part of the Ho Chi Minh City (Saigon) landscape. This highly visible location is steps from Ben Thanh Market and on the road connecting the market (Tran Hung Dao) to China Town. The hotel is surrounded by trendy retail and commercial buildings.

Patrick Basset –Vice President for Accor Vietnam, Philippines, South Korea and Japan, says “Accor is delighted to be continuing its expansion in Vietnam with this strategically located Novotel, which will be developed by The Que Huong – Liberty Group. Currently, Accor operates 4 Novotel’s throughout

Vietnam – the most extensive network for any international 4 star brand in the country. The hotel will fulfill a demand for upscale international quality hotels, which has existed in Ho Chi Minh City for some time.”

Novotel Saigon Centre will feature 2 restaurants, a street bar, roof level Executive Club lounge, outdoor swimming pool and kids pool, fitness centre, business centre, Web Corner on a Mac and 900 square metres of flexible event space. The 24-storey hotel will offer magnificent views of the city and Saigon River. The guestrooms will adopt the latest innovations of the Novotel brand, including concept guestroom lighting, modern interiors and surfaces, 32-inch LCD television, and plug and play connectivity panel.

Novotel Saigon Centre will be the first hotel in Vietnam to incorporate louvers into the façade of the building, which by shading the building will improve energy consumption. The hotel is being designed by Kume Sekkei Architecture firm of Japan.

The Novotel brand globally is committed to achieving certification under Green Globe Sustainable Tourism. The first hotel in Vietnam to achieve this was Novotel Phan Thiet Ocean Dunes & Golf Resort along with a further 32 hotels within the Asia Pacific region.

The Que Huong – Liberty Group today owns 7 hotels in Ho Chi Minh City and intends to develop more hotels in the coming years throughout Vietnam. Novotel Saigon Centre will be the first new hotel development announced for Saigon in the many years to come and this will reinforce Accor’s leadership in the Vietnam hotel arena.

Novotel has 82 hotels throughout the Asia Pacific region today, with a further 28 hotels committed for development. Currently in Vietnam, Accor operates 11 hotels including four Novotel hotels – Novotel Phan Thiet Ocean Dunes and Golf Resort, Novotel Nha Trang, Novotel Dalat and Novotel Halong Bay.

Source: Accor

Twin Dragon Tower

Twin Dragon Tower Office Building Complex
Location: In Hanoi, 35 floors.
Designed by NQH Architects.