Archive | June, 2010

Cavico Signs Transport Tunnel Construction Agreement for Noi Bai – Lao Cai Highway

29 Jun
Vnre.blogspot.comCavico Corp., a leading infrastructure development company based in Vietnam, today announced that its majority owned subsidiary, Cavico Bridge and Tunnel JSC signed a transport tunnel construction agreement with Korea-based Doosan Heavy Industries & Construction Co., Ltd. for the Noi Bai – Lao Cai Highway. The expected revenue value for this new contract is $5.8 million, excluding value added VAT. In March 2010, Cavico announced the contract for a road construction contract related to this project for $2.1 million.
According to the terms of this new agreement, Cavico’s scope of work will be to construct a 530 meters long, 26 meters wide, and 8.6 meters high transport tunnel. Cavico expects to complete its portion of the project in 20 months. Doosan will supply the main construction materials such as concrete, steel and anchors, which have been valued of approximately $2 million and not included in the contract value.

Doosan Heavy Industries was awarded Package A6, a 40 kilometer-long highway section which stretches from An Thinh village to Chau Que Thuong village, Van Yen province. The total value of this project is approximately $140 million. This section of the highway will meet the requirements for speeds up to 80 kilometer per hour, with four lanes for regular traffic, two emergency lanes and a middle divider. In addition, the highway section under construction will have 18 bridges with a total length of 1,982 meters that is to be constructed, with one service station and one bus station.

The Noi Bai – Lao Cai Highway project is owned by Vietnam Expressway Corporation, which is part of the Department of Transportation. The highway will be 260 kilometers long with a required capital investment of $1.3 billion, which will be funded by a combination of preferred and normal loans from the Asian Development Bank (ADB), a multilateral finance institution that promotes economic and social progress in the Asia-Pacific region. This project is close to the northern part of country and is considered one of the nationally critical projects that is aimed on strengthening overall Vietnamese-Chinese cooperation, focused on improving the economic conditions and activities in Lao Cai and its neighboring regions.

“We are very pleased to be awarded this additional agreement for construction work on the Noi Bai – Lao Cai Highway project. The bidding process was highly competitive and we are thrilled to have won this contract,” commented Mr. Hai Thanh Tran, vice president of Cavico. “As the market leader in the field of tunnel construction in Vietnam, we are confident that our skilled team will complete this project efficiently and hope to secure additional contracts associated with this major highway project.”

About Cavico Corp.

Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3,500 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the Company’s primary competitive advantages is its ability to nurture a project “from concept through completion” with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico’s project partners include top multi-national corporations and government organizations. The Company employs more than 3,500 full-time, part-time, and seasonal workers. For more information, visit Information on the Company’s Web site or any other Web site does not constitute a portion of this release.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, the Company’s ability to complete projects in the time frame specified; anticipated revenue from the projects to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth; the Company’s planned expansions, and predictions and guidance relating to the Company’s future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Cavico Corp.
Timothy Pham
Vice President and Director


Investor Relations
Truc Nguyen
Managing Director (ext. 418)

Christopher Chu
Director (ext. 426)

Media Relations
Ivette Almeida
Managing Director (ext. 455)

Source: Market Wire/Cavico Corp

Vietnam House to sell VIP villas in July

29 Jun
Vnre.blogspot.comVietnam House Joint Stock Company said it will sell eleven VIP villas as part of the The Boat Club Residences Project, located in Ho Chi Minh City’s District 9, in the beginning of July.
The villas, complete with parks and fountains, are located at the confluence of the Tac and Rach Mon rivers and were designed by a Singapore company.

VIP villa owners enjoy amenities including a marina by Tac River, swimming pool, beautiful landscape and parks lining the rivers.

The entire project is expected to finish by the end of the year.

To date, some customers have registered to buy VIP villas at a price of approximately VND10 billion (US$500,000) each.

Reported by Thanh Huong/ SGGP Daily

Condo market inches up in second quarter

29 Jun
Vnre.blogspot.comAn increase in the number of transactions in the second quarter has made for a positive sentiment in the local property market, after it went through the first quarter of this year with a decrease in trading activity in land-lots and apartments.
Unlike the Hanoi market, which witnessed land-lot fever in April and May, cooling from early this month, the property market in HCMC was quieter, but apartment transactions recorded a significant increase, especially in more affordable apartments, which continued to dominate the market.

Guy Major, director of sales of Savills Vietnam, has given the Daily a quick review of the HCMC condo market, saying the second quarter saw a 24% increase in supply and 26% increase in absorption rate. Three thousand one hundred apartments came on to the market and 2,200 were sold in the second quarter of this year.

“We witnessed steady deal-flow in the second quarter, and, with some exciting, competitively priced, exclusive new projects to be launched in the next few months, we are expecting to be very busy,” Major says.

According to Savills, affordable apartments continued to dominate the market, accounting for 73% of the 2,200 apartments absorbed by the market in the second quarter.

Observing the market over the past year, some property experts say the apartment market has been stable in price, not increasing and not falling sharply. Most projects launched recently offered apartments with prices ranging from VND12 million to VND15 million per square meter.

Among the projects, Dat Gia Real Estate Company has launched a condo project named Babylon Residence 1, in Cay Keo Street, Tam Phu Ward, in the fringe district of Thu Duc. Two blocks of 21 stories in the condo will provide the market 688 apartments of from 75 to 240 square meters with prices starting around VND14 million to VND15 million per square meter.

Last week, Dat Xanh Real Estate Construction and Services put its Phu Gia Hung Apartment project at 15 Ward in Go Vap District on a marketing program. Two blocks of 14 stories will supply the market 234 apartments of from 52 to 93 square meters, with prices starting from VND13 million per square meter.

In another project, Viet Au Corporation plans to launch 600 apartments in its Lotus Garden in Trinh Dinh Thao Street, in HCMC’s Tan Phu District, in the next quarter. The developer has not yet announced the selling prices, but it says its apartments’ selling prices will range from VND13 million to VND15 million per square meter.

Speaking at a seminar at Sofitel Saigon Plaza in downtown HCMC last week, Le Tham Duong, head of the business-management faculty of the HCMC University of Banking, commented on the trend of affordable project development, saying the market demand was driving developers to adjust their products to join the race.

The recent difficulty helped separate segments in the market, in which Grade C apartments take a major share because of huge demand.

Do Thi Loan, general secretary of the HCMC Real Estate Association, says the HCMC expansion plan will offer opportunities for developers and homebuyers in the years to come. Under the plan, districts including 2, 7, 9, 12, Thu Duc, Binh Tan and Tan Phu will be attached to other existing districts.

Loan says homebuyers cannot find any affordable condo projects in the central business districts, but they can in the developing districts where there are land-lots for low-cost condo development.

Transport will be more convenient in the future, because infrastructure development shortening the distance from fringe districts to the city center is under construction. The East-West Highway, Ben Thanh-Suoi Tien Metro, HCMC-Trung Luong Highway and Thu Thiem Tunnel are among the infrastructure projects that will facilitate traffic from the outlying districts to the city center.

Savills anticipates more supply and more demand in the next quarter, and it forecasts transaction levels even further dominated by Grade C apartments; demand levels are high, at the right price.

Source: The Saigon Times

Vincom Royal City – Where experience life with best value

29 Jun

Be compared as a “European city” miniature, Royal City is a perfect urban complex, where you can enjoy the pleasant experience of comfort life in the green space, clean and safe.

With apartment buildings are designed by European royalty architectural style, surrounded by much open space, modern as the biggest commercial center in Vietnam, the first indoor ice rink in Vietnam, international schools, indoor water park, entertainment complex …, Royal City makes your dreams about a home, “green and smart” come true.

Location – Premier position in heart of Hanoi Capital

Royal City Complex is located at the southwest gate of the Hanoi Capital (No. 72A-74 Nguyen Trai street, Thanh Xuan district), where gathers clues artery, the North-east borders To Lich River, the East borders Nguyen Trai Street, the North-west and South-west borders Thuong Dinh Ward residential. The total land area is 120,945 m2, is planning architecture in accordance with ecological criterion for green park area to 70,000 m2.

Ideas – Imperial style architecture, elegant, luxurious and romantic

Royal City is designed as a combination model of the urban complex, the point is the green park 70.000 m2. Salient features in the design of the Royal City is harmonious interference between European royalty architecture luxury, elegance and meticulous arrangements, sophisticated of amenity and modern interior chain.

Designed by Site Architecture – a reputation group of France, the idea of comfortable life, “green and smart” – a convergence of art and modern technology, will become a reality at the Royal City.

Space – Large space of Royal City population, with a total area of 12,945 m2

Royal City is intelligent connection between the luxury apartments and the combination functional works on a large area, is a miniature painting of a European city, where brings comfort life, luxury and romance .


Royal City gives you the best conditions for a comfortable and perfect life. With many projects and the first in Vietnam such as: ice rink, indoor water park, gym & spa, cinema complex, underground parking …, Royal City promises to bring a fresh space, balanced life, brings health and passion back with you.


Come to the Royal City to experience the excite and cheery sensation on flimsy ice-skate in the first and largest ice rink in Vietnam. From now on, residents of tropical country can enjoy the joy which is only natural preference for Frigid zone.

Water park

For the first time in Vietnam, residents at the Royal City and visitors can enjoy the tropical atmosphere during four seasons with the indoor water park. Water park has a total area up to 6.000m2, which is invested more modern equipment, safety and convenience for users. This will be the ideal place of each family weekend.

Gym & Spa

Gym & Spa Zone is the most modern and largest in Vietnam, combined with the sauna and swimming pool series for children, VIP swimming pools,… temperature is controlled suit four seasons’ weather. Facilities are not only bring you health, but also the relaxed mood.


Complex of modern cinema, international standards, with many highend theater (2D, 3D, 4D …) will give you the really impressive relaxing moments. Where introduce you the latest film in Vietnam and the world, where you live with every character in every story on the screen.

Food village

Over 60 restaurants with extensive menu and server is professional, ideal space for your family enjoy the essence cuisine of all regions in the country and five continents. You will actually be persuaded when you enter the diversity culinary world, safety and originality of Royal City.


Indoor amusement park is near 30.000m2 wide, is where you prove your talent by exciting games, bowling, at the same time to bring your child the opportunity to develop life skills, help them become the owner of the stock of useful knowledge in the “fairy garden” and “educational play park.”

Green park

Green park is near 70.000m2 large was designed and distributed reasonable at the Royal City, to bring residents an open space, clean and peaceful. The heart of Hanoi, a housing project is built and developed according to the criteria of ecological architecture, protecting the environment, and bring the benefit of community life.


The largest underground parking in Vietnam is built at the Royal City with modern management system, apply intelligent technology. Basements ensure enough space to keep a large amount of vehicles of residents and visitors, contributed to solve the overload traffic static of the Hanoi Capital.

The team

Royal City is performed by a team of experienced professionals in real estate investment, landscape design, architecture and urban construction …

The owner: Royal City Investment and Development Real Estate Corporation

Majority shareholder: Vincom Corporation, VinpearlLand JSC. These are the leading company in the field of investment and development real estate, have good financial resources, dynamic leadership and staff, highly qualified, well experienced in operating and project management, international scale, such as Vincom City Towers in Hanoi City, the Vincom Park Place apartment (Hanoi), Vincom Center (HCMC), Vincom Plaza Hai Phong…

Consulting and design:

Site Architecture Group – France: Site Architecture Group is the leading French designers have more success in real estate projects such as Saint Denis Stadium – France, Olympia Stadium – Tunisia, National stadium in Hanoi, Trang Tien Plaza (Hanoi), E-Town Office Building (Ho Chi Minh city), Alliance Française – L’espace at 24 Trang Tien – Ha Noi, Hon Tre Resort (Nha Trang), Dong Chuong Lake eco-tourism resort – Ninh Binh province …

PCM Corporation: PCM converges young and dynamic architects, creative ideas, full of enthusiasm and group architects, engineers experienced in the field of architecture, design, structure, ME, supervision consultants, project management … and urban construction. Design capability of the PCM has been proven through many large projects such as Vinpearl Nha Trang (Nha Trang), Luxury Resort (Nha Trang), Vinpearl golf (Nha Trang), Office Building 180-182 Nguyen Cong Tru (HCMC), Vincom Center (HCMC) …

Please contact the owner for more information and register to buy apartment in Royal City:

Royal Investment and Development Real Estate Corporation
Add: 72A-74 Nguyen Trai Street, Thanh Xuan District, Hanoi.

Vincom Real Estate Transaction
Add: Floor 4, Building Vincom City Tower B, 191 Ba Trieu Street, Hanoi.
Tel: 84.4.39743 550 – Fax: 84.4.3974 3551
Hotline: 84.93 646 9799.

HCM City needs $15 billion for infrastructure

29 Jun
Vnre.blogspot.comThe city needs this amount to develop its infrastructure over the next five years, asserted HCM City Vice-Chair Nguyen Thanh Tai at a conference on the city’s infrastructure investment needs on June 24.
At the meeting, HCM City called for billions of dollars for infrastructure projects in the form of PPP (public private partnerships), BOT (build-operate-transfer), BT (build-transfer), etc.

Department of Construction Deputy Director Bui Xuan Cuong called for investment in 25 projects to build roads, ports, parking lots, etc. in the city, totaling nearly 120 trillion dong ($631 million).

The Saigon Water Supply Corporation (Sawaco) introduced its major projects for the next 5 years, plans that require more than 3 trillion dong ($157 million) in capital. After 2015, Sawaco will need another 29.5 trillion dong ($1.55 billion).

The Urban Rail Management Board plans to build seven metro and three tramcar routes, totaling 167km. The capital for these projects is estimated at $4.95 billion.

The city also needs hundreds of millions of dollars to build a dike system and dredge canals.

Bui Xuan Cuong calculated that the transportation sector needs $2 billion a year, but capital from the stage budget and ODA loans can only satisfy 15 percent.

Development experts suggested that HCM City apply the PPP model to raise capital, but it requires clear policies to draw private investors. PPP is still a new model in Vietnam.

Source: Vietnamnet

Ana Mandara Ninh Binh Resort: Highlighted Tourism Property

28 Jun
Ana Mandara Ninh Binh Resort covers 16.2 hectares in Van Long eco-tourism complex in Gia Vien district, Ninh Binh province. Northern Vietnamese inspired architecture makes Ana Mandara Ninh Binh a highlight in northern tourism real estate.

The resort is a tourism project to celebrate the millennial founding ceremony of Thang Long – Hanoi. Currently, Tan Phu Joint Stock Company and Ninh Van Bay Tourism Real Estate Joint Stock Company are actively completing last steps to open in October 2010.

Ms Nguyen Van Huong, Director of Tan Phu Joint Stock Company – the builder of the resort, said: Ana Mandara Ninh Binh has 51 villas with 170 bedrooms, rated 4 stars ++. In addition, the resort also has restaurants, bars, spa and fitness centre, two swimming pools, tennis courts, event zone, convention rooms and childcare areas.

Villas are designed in the ancient northern delta style: Earthen walls, shoe head-style tiles and wooden frames. With a skilful combination of modern and traditional styles, and close to nature, Ninh Van Bay Tourism Real Estate Joint Stock Company is creating an unprecedented work.

In the past two years, tourism property projects have drawn deep interest from companies; thus, products are more diversified. As an inseparable part of tourism, most tourism property projects are built in beautiful places like Hue, Da Nang, Nha Trang and Da Lat. Therefore, when Ninh Van Bay Tourism Real Estate Joint Stock Company decided to invest in Ana Mandara Ninh Binh resort, it surprised many property investors who were doubtful of the success of project.

However, Mr Vu Ngoc Tu, General Director of Ninh Van Bay, said: “Ninh Binh province has a lot of potential for tourism real estate development. Although it has no nice beaches, it has many scenic attractions. Coming here, tourists can enjoy a combination of three forms of tourism, namely spiritual tourism, eco-tourism and convalescence. As it takes only one hour drive from Hanoi to the resort, this promises to become an ideal destination for many Vietnamese and international tourists.”

For further information, please contact:

Ninh Van Bay Tourism Real Estate JSC
Add: Room P705 – Hanoi Tung Shing Square Building
2 Ngo Quyen Street, Hoan Kiem District, Hanoi.
Tel: 84.4.3926 4950 – 3926 4951 – Fax: 84.4.3926 4952

Ecological Resorts-Spa Six Senses Saigon River

28 Jun

Six Senses Latitude Sai Gon River is owned by Hai Dung Limited Company – a 95% owned subsidiary of Ninh Van Bay . The project situated at Ben Co village, Dai Phuoc ward, Nhon Trach district, Dong Nai province. The project seats right on the 1000-meters riverside of Dong Nai River. Its north shares the border with Cai River (a branch of Dong Nai River), the south borders with a high voltage electric line and a road under designed, the east and west boders with Cong Lon canal. Situated on a very advantageous area and is 45 minute bus travel from Tan Son Nhat airport, about 25 minute ferry travel from District 1 center and 30 kilometers far from Long Thanh airport (Dong Nai province).

The project is managed by Six Senses Corporation, the Thailand-based world’s leading property management firm in a 3-year management contract with Ninh Van Bay from its first operating date.

Project Scale

Total land area of the project is 553,265 square meters. The first stage construction is being undertaken on 325,763 square metters. Details of land use rights for the first stage is as follows:

– 36,854 m2 of land which was already paid for in a lumsum for period of 50 years
– 288,909 m2 of leased land whose payment will be made annually for period of 50 years.

The project was kicked off in Sep 2008, and is expected to finish in mid 2011. The project consists of resort (40 apartments, 70 luxury villas and 2 president villas) and 50 villas for sales and property arrangements.

For further information, please contact:

Ninh Van Bay Tourism Real Estate JSC
Add: Room P705 – Hanoi Tung Shing Square Building
2 Ngo Quyen Street, Hoan Kiem District, Hanoi.
Tel: 84.4.3926 4950 – 3926 4951 – Fax: 84.4.3926 4952