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Aeon (Japan) to open shopping center in Binh Duong

6 Jun
VNRE – Aeon Co., Ltd has been licensed by the Department of Planning and Investment of Binh Duong province for the project Aeon Binh Duong Canary Shopping Center in Thuan An District with a total investment capital of USD 95 million.

Aeon Binh Duong Canary Shopping Center project has a total area of 62,000 m2 at The Canary Complex project being built adjacent Vietnam – Singapore 1 industrial zone (VSIP 1).
Aeon will manage and operate this shopping center, and operates restaurants, bars, entertainment for children, billiard, bowling, electronic games, sports center …
Aeon Binh Duong Canary Shopping Center is the 2nd project of Aeon Group was licensed investment in Vietnam after the Aeon Tan Phu Celadon Shopping Center in Ho Chi Minh City.

Rescuing the Real Estate Market: Stuck with Output

20 May
Realizing that real estate enterprises are facing a lot of difficulties when their products are frozen due to the lack of consumers for months, banks recently have started to “save” these enterprises with credit support packages. According to experts, this move is also a solution for banks to save themselves, when many of their debts to the real estate sector are overdue.
Finding ways to unfreeze capital flows
The most impressive comes from the Bank for Investment and Development of Vietnam (BIDV) with the model “Linkage of the 4” aiming to save the real estate market. Accordingly, in May 2012, BIDV will continue its capital support package and payment guarantee for the 4: project owner, contractor and supplier of building materials, as well as the bank. This solution will ensure payment among project owner, contractor and supplier of building materials in order to provide products as soon as possible. BIDV will launch the support package in the two largest markets, Hanoi and Ho Chi Minh City.
 
BIDV’s move is hoped to stimulate consumer demand, as well as make a precedent for other banks to follow. Before the model “Linkage of the 4”, BIDV was one of the first banks to launch credit support package with the value of VND4,000 billion, lending money to those who buy houses in projects financed by BIDV, at an interest rate much lower than other banks (16 percent), and loan limit up to 85 percent of the house’s value. Although the package was launched only in Hanoi and Ho Chi Minh City, it is easy to understand that bank and project owners could apply the rescue policy only where most products are in stock.
 
According to Mr Tran Bac Ha, Chairman of BIDV, when launching the policy of reducing interest rate for home loans, BIDV lost VND 1,200 billion – VND 1,500 billion. This was a risky step in the context of most real estate enterprises suffering difficulties. According to statistics, many banks such as Vietcombank, Eximbank, Sacombank, and Agribank still have capital stuck in real estate, and they have not had a turning point regarding credit policies. Consequently, remarkable troubles between banks and real estate enterprises – banks’ borrowers will potentially develop.
 
Output is still stuck
The bankruptcy of real estate enterprises is certainly the most undesirable thing for banks at this time; however, how to save these enterprises from bankruptcy does not depend only on banks. Whether banks can re-trace loans, freeze loans or keep pumping capital for project owners to complete their projects, the most important factor, the output for products, is not solved. Enterprises are short of necessary capital to operate, products are not moving, and consequently banks also stand to lose considerable income. If this situation keeps going on for a long time, at a certain point, banks will not be able to support enterprises and will have to find ways to save themselves by solving loan-secured properties. At that time, not only enterprises will go bankrupt, but also banks probably will go bust in line.
 
While many real estate enterprises suffer heavy losses, some are determined not to lower prices of their products. It was believed that when Hoang Anh Gia Lai decided to discount 50 percent of their apartments, the real estate market would be in a sharp price discount trend, however recently project owners only lower price as a promotion. SC5 Company even declared that they would never dump prices of their products.
 
The line between survival and death is clearly visible. The terms of maturity, renewal and re-trace of loans have passed for a year, but product consumption ratio of enterprises remains almost equal to 0. If the situation remains the same to the end of 2012, many real estate enterprises will have to leave the market.
 
According to many real estate investors, policies have gradually loosened, but market liquidity has not improved, while interest must be repaid, the only chance for real estate enterprises is to wait for the city resettlement program policy of buying apartments.
 
Reported by Luong Tuan | VCCI News

Keangnam Vina opened the Vietnam’s highest observatory

18 May
VNRE Today 05/18, Keangnam Vina Limited Company opened Hanoi Landmark 72-storey building and  Observatory 72 Landmark Sky on 72nd floor of Hanoi Landmark Tower. This is the highest observatory in Vietnam.
Located in the heart of Cau Giay District, from a height of 346m, this observatory will be the ideal place for people to be able to observe the development of the capital from the present to the future. In addition, the observatory is also expected to become an attractive destination for tourists at home and abroad.
General Director of Keangnam Vina Mr Ha Jong Suk said Observatory 72 Sky Landmark is like the Observatory of Seoul building, Tokyo building and Emprise State building in New York. From here customer can look at 360 degree. In additon Observatory 72 Sky Landmark also equipped with multi-cultural space including: showroom,  5D movie theater, 3D painting, art galleries, bars, souvenir stalls…
Hanoi Landmark Tower is a combination of hotel, commercial center, office, apartment with a total floor area of 609.673 m2. The project consists of two 50-storey apartment buildings, connected to two apartment buildings is 72-storey commercial, office & serviced apartment tower.
This combination is following the new trend in the world: One-Stop Culture in the sense that all is resolved in a place from work, live, enjoy and relax in the same place.

Photo courtesy of Mr Ken.

The first Ibis hotel in Hochiminh City will open in June 2012

15 May
VNRE – Ibis Saigon South is the first international hotel in District 7, right in front of Saigon Exhibition & Convention Centre and only 15 minutes from the center of Ho Chi Minh City.

Description
IbisSaigon South is right in front of Saigon Exhibition and Convention Centre (SECC) and only 15 minutes from the city centre of Ho Chi Minh. The 1st International 3 star hotel in Saigon, it is within walking distance to Global Corporate Offices, FV hospital, Medical Centers and Shopping Malls. It features 140 stylish designed rooms with timber floors, complimentary Wi-Fi internet access, 1 restaurant/bar/3 meeting rooms. Free Ibis shuttle is available to and from the hotel to major corporate offices and the city centre.
General information
As the 3-star international economy hotel chain managed by Accor Hospitality, Ibis Hotels are expanding rapidly with 900 hotels and over 104,000 rooms in 48 countries.
The first Ibis Hotel opening in Saigon, Vietnam in 2012, strengthening its leading position across the country.
Ibis hotels are all newly built, simple hotels, young and modern but also warm and inviting and the Ibis standards guarantee to the customers around the world:
– Attractive locations with easy access 
– Modern and well-designed bedrooms 
– Service available 24/7 
– Round-the-clock snacks and drinks 
– Friendly service 
Modern simplicity. Friendly vibes. Well-being at the best price.
Contact info:
– Phone: 08 5411 5000
– Email: Reservations@ibis-saigon-south.com.

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Hilton Worldwide Signs Agreement with Hoan Kiem Tourism & Trading Company Limited to Welcome First Hilton Garden Inn in Southeast Asia

14 May
VNRE – Hilton Worldwide today signed a new management agreement with Hoan Kiem Tourism & Trading Company Limited to introduce the first Hilton Garden Inn and Hilton Worldwide’s second property in Vietnam. Scheduled to open in the second half of 2012, the 86-room Hilton Garden Inn Hanoi marks the debut of Hilton Garden Inn, Hilton Worldwide’s award-winning, mid-priced brand, in Southeast Asia.

“Hanoi is a major gateway into Vietnam and a key market in the Indochina region. This announcement underlines our commitment to strengthen and expand our portfolio of unique properties in key cities across Asia Pacific. We look forward to introducing guests to the Hilton Garden Inn Hanoi, which joins the mid-market brand’s properties in India and soon Malaysia and China, in providing guests in Southeast Asia with greater mid-market choice from Hilton Worldwide,” said Andrew Clough, senior vice president, development, Middle East & Asia Pacific, Hilton Worldwide. “Working with an established partner like Hoan Kiem Tourism & Trading Company Limited, we are confident that the Hilton Garden Inn Hanoi will enjoy a similar success to Hilton Hanoi Opera in Hanoi in providing quality guest experiences.”
Hilton Garden Inn is a popular choice with business and leisure guests across the world, thanks to features such as complimentary Wi-Fi access, the Garden Sleep System bed, ergonomic chair, as well as 24-hour business center with remote printing capabilities.
Located at the intersection of Tran Hung Dao and Phan Chu Trinh Avenues, Hilton Garden Inn Hanoi occupies a premium location in the French Quarter of Hanoi, known for being the business and leisure center of the city. Directly opposite the Ministry of Finance, the hotel is within close proximity to many embassies, institutions, government organizations, museums, and is 600 meters from the renowned Grand Opera House. Linked to major highways and the West Lake area, the hotel is within walking distance to Hoan Kiem Lake and other places of interests, and 40 kilometers from Noi Bai Airport.
“We are pleased to continue our expansion of the Hilton Garden Inn brand in Southeast Asia. Business and leisure guests to the Hilton Garden Inn Hanoi will enjoy the amenities synonymous with this award-winning brand designed to help them stay efficient while on the road,” said Adrian Kurre, global head, Hilton Garden Inn.
The 11-storey Hilton Garden Inn Hanoi will have 86 bedrooms and excellent facilities for business and leisure guests. The hotel offers an all-day dining restaurant and a lounge bar, a 100-square meter meeting room as well as a spa and onsite car parking facilities.
Hanoi is the capital city of Vietnam and is located in the northern part of the country on the banks of the Red River. Known as “Paris of the Orient” for its beautiful Chinese and French colonial influenced architecture, Hanoi houses 4,000 historical sites and attractions, of which 900 are rated as national historical sites. With the expansion of Noi Bai International Airport to a capacity of approximately 25 million passenger movements in a year, the city’s economic structure is evolving as tourism, finance and banking play an increasingly important role.
“We are delighted to welcome the first Hilton Garden Inn to Vietnam and to Southeast Asia through this partnership. Given Hanoi’s attractiveness as a destination for both business and leisure travelers, the strength of the Hilton Garden Inn brand as well as Hilton Worldwide’s expertise in global hospitality, we are confident that the hotel will set a new benchmark for unparalleled service and quality guest experiences in Vietnam,” said Nguyen Thanh Long, Vice Director, Hoan Kiem Tourism & Trading Company Limited.
Hilton Worldwide currently manages one other hotel, the Hilton Hanoi Opera, in Vietnam.

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There will be additional $ 200 million for the Tay Ho Tay project

13 May
VNRE The Korea Development Bank (KDB) has announced a capital call for around $ 200 million from commercial banks for Phase I of the Tay Ho Tay Urban Area in Hanoi invested by Daewoo E&C.

The capital will increase credit for Daewoo E&C and promote the implementation of this important project.

Earlier April 2012, KDB and Daewoo E&C organized workshops to call investment capital for the Tay Ho Tay Urban Area with audiences are commercial banks. KDB is expected to complete the capital call in late May 2012.

KDB is the major shareholder holding 50% stake in Daewoo E&C and primary responsibility in call investment capital for projects of Daewoo E&C. $ 200 million will be used for clearance of the remaining area of Phase I, built infrastructure and paid land use tax.

So far, Daewoo E&C has invested more than $ 94 million to complete the clearance of about 80% of the land of the phase I. The new capital will create the resources to speed up the implementation of the project, accelerate clearance of the rest land, build infrastructure.

Tay Ho tay Urban Area project is in the northwest area of Ha Noi, planned on 207.6 hectares with 5500 housing units, international school, commercial & service center, financial center…

The project is expected to develop into a modern urban, representative of the capital, Hanoi. Project duration is expected to 2019, total investment is 2 billion 528 million USD.

Source: VNE

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Da Nang wins IBM grant to become smart city

12 May
VNRE –  Da Nang is one of 33 cities worldwide that will receive an IBM Smarter Cities Challenge grant in 2012.
The Smarter Cities Challenge, launched in 2011 and worth US$50 million, is one of IBM’s largest philanthropic initiatives. Over three years, leading IT experts from IBM will work with 100 cities around the world on key urban issues.
In Da Nang, IBM will send experts to the city to look into its socio-economic development, and study ways to supply better urban services and attract greater participation of its citizens.
The corporation and local authorities will consider and propose ways to better manage transport, water supply and drainage, as well as waste water from industrial zones and factories and food safety and hygiene.
IBM has experience of dealing with these issues in other Asian countries such as Singapore and China.
Pham Kim Son, director of Da Nang’s Information and Communications Department, said IBM’s information technology solutions would help solve the challenges faced by Da Nang during its development.
Son said he believed IBM would be a leading IT partner and help Da Nang become a smarter city thanks to its expertise and experience around the world.
“When Da Nang becomes a smart city its citizens will have every comfort, public services will be better managed, as will its natural resources,” Son said.
Peter Williams, the chief technology officer for IBM Big Green solutions and business models, said Da Nang would become a technology centre in the near future.
He said Da Nang, when it became a smart city, would be able to deal with global problems such as environmental pollution, natural disasters and traffic jams. The residents’ living standards would improve markedly, he added.
When the city’s administrative centre becomes operational, it will apply IT solutions to its managerial work and create the best conditions for enterprises and residents to prosper. Da Nang is also on the way to becoming a green city, which involves protecting its water resources, while developing its tourism industry sustainably, local officials said. 

Via VNS