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Six Senses Con Dao Wins World’s Best Hotel & Tourism Resorts Design Award at The 2012 Mipim Awards

11 May
VNRE The design of Six Senses Con Dao in Vietnam created by acclaimed architects, AW2, in collaboration with renowned owner/developer, Indochina Land,  received the prestigious Best Hotel and Tourism Resorts Design Award at the 2012 MIPIM Awards in Cannes, France this month. 

In late January, the MIPIM jury met to examine more than 100 projects worldwide – either completed or upcoming – to select three finalists in each category that demonstrated outstanding technical and architectural qualities.
This year, the geographical spread of projects provided an exceptional panorama of the global market. 47 countries were represented.  Combined with the jury’s ranking, MIPIM delegates voted during the four-day event  to determine the winners. Six Senses Con Dao garnered first place over two other finalists in the Best Hotel and Tourism Resorts category: The Bulgari Hotel & Residences in the United Kingdom, and the Victoria Tower Hotel in Sweden.
The 2012 MIPIM award follows a steady stream of accolades that Six Senses Con Dao has received since the property opened in December 2010. In 2011, the property was rewarded with a Green Good Design Award by the Chicago Athenaeum of Architecture and Design; an International Property Award for Best Small Hotel Construction and Design in the World; in addition to being included on Conde Nast Traveler’s “Hot List 2011,” and featured on the cover of Travel + Leisure USA for their “IT List 2011″ edition.
Indochina Land has similarly achieved wide-spread recognition as the top real estate group in Vietnam, being named Best Developer in Vietnam in 2011 for the second time in the last three years by Euromoney’s Global Real Estate Poll.
Six Senses Con Dao – the first and only 5 star resort in the Con Dao archipelago – sets the benchmark for excellence in Vietnam. 35 one-bedroom hotel villas and 15 three- and four-bedroom residential villas all offer panoramic ocean views and an unparalleled standard of luxury. The award-winning sustainable architecture is located sensitively within the natural slope and contour of the surrounding dunes, utilizing only natural, reclaimed and sustainable materials that blend seamlessly into the spectacular native setting.
True to Six Senses’ philosophy of selecting remote but accessible destinations in areas of outstanding natural beauty, Con Dao is an untouched and breathtakingly beautiful destination, protected for decades to come as a national and marine park.
Photo courtesy by Jetsetter
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Novotel Saigon Centre will open on May 16

7 May
VNRE – Novotel Saigon Centre hotel is located at 165-167 Hai Ba Trung Street, Ward 6, District 3, right in the center of Ho Chi Minh City. The hotel building consists of 3 basements and 18 stories high, was constructed from April 2010 and will be officially opened on May 16, 2012.

The project is invested by a joint venture of Liberty Hotel JSC (member of Saigon Tourist Corp) and Investment & Construction Development Corporation (Invesco). Cotec Construction Joint Stock Company is main contractor.

On this occasion the hotel will have special promotion. Please contact the reservations department for more details (Novotel).

The 247 room Novotel Saigon Centre is perfect for both leisure and business customers. It features an international buffet restaurant,The Square, a lobby lounge, a rooftop bar and a wellness center which includes swimming pool, fitness, sauna and spa. The hotel’s 5 meeting rooms offer the latest AV equipment and provide over 400sqm of space that can accommodate up to 350 persons. Technical support teams are on standby to ensure the success of all corporate or social events.

More photos:

Singapore to promote investment in industrial zones in Vietnam

1 May
VNRE – Singapore has been approved to build the No. 5 industrial zone in Vietnam, with total investment capital is 330 million U.S. dollars.

Expected that this industrial zone will be built on an area of 600 hectares in Quang Ngai province in Central of Vietnam, including 520 hectares for commercial purposes and housing.

Singapore’s Sembcorp will development, marketing and manage the project. So far, there have been 30-40 partners interested in this project, representatives of Semcorp said.

Phase 1 of the project will last approximately 3 years, and is expected in that period will also have the first plant is established and profitable here.

Recently, during an official visit to Vietnam, Singapore President Tony Tan Keng Yam met with leaders of Vietnam government and leaders of Vietnam’s largest city. President Tan said Singapore wants to invest more into Vietnam, and he said he would note the proposal to open two industrial zones in Hanoi and Ho Chi Minh.

So far, four industrial zones were invested by Singapore has been operating in Vietnam include: VSIP 1 and VSIP 2 (Binh Duong), VSIP 3 (Bac Ninh), VSIP 4 (Hai Phong). The total investment estimated at more than 20 billion U.S. dollars.

Source: VNA

Office Market in the Limelight

29 Apr
VNRE Ending the first quarter of 2012, the real estate market continued challenging the tolerance of investors, especially in the housing segment. The market is supporting end-buyers as housing prices are still on the downtrend and investors paying closer attention to customer requirements. Vietnam Business Forum summarizes the main events of the real estate market in the first quarter of 2012.

Housing market – Business ethics of primary investors

In the first quarter, the apartment market witnessed slow offering from investors. The supply was quite limited, with only 1,100 units, compared with 25,000 units in 2011. Not only buyers but investors are in a “wait and see” mode, pending market developments. New buyer-catching projects are mainly for low-income earners in Hoang Mai, Long Bien, Tu Liem and Cau Giay districts, Hanoi.

For the quarter, many projects were delayed or suspended although investors had sold apartment units to customers while many other projects still ensured construction progress although it was a bit slower. This highlighted business ethics and confidence of investors.

According to CBRE Vietnam Company, a property consultant and researcher, in 2012, the supply was forecast to reach 20,000 units. However, the real supply may be much lower if present market conditions keep lacklustre. The economy is showing signs of recovery; hence, the secondary price downtrend will slow down. Customers distrust investors’ ability to complete their projects, making construction progress and quality the top determining factor. For this reason, sale is better when the projects are nearing the final stage.

For villas and semidetached houses in urban zones, many wondered whether prices reached the bottom. Like three previous quarters, secondary prices continued to drop sharply in nearly 50 percent of projects in this quarter

Price decrease, despite lower than in the past quarter, remained at 5 – 10 percent. The degree of price reductions depended on construction progress. Newly constructed projects saw a 5 percent rebate, even 10 – 15 percent in some projects. Meanwhile, prices were slightly changed in completed projects. However, compared with rates in the first or second quarter of 2011, secondary prices in all projects slid 20 – 50 percent.

Buyers continued to wait because they expected further fall and they only looked for projects developed by reputable investors. Mr Richard Leech, Managing Director of CBRE, said the housing demand of end-buyers needs to be tested. Till now, the effect of recent interest rate cuts remains vague on the property market.

Office market – Positive signals

In the first quarter of 2012, the office market had no new supply, total supply stably approximated at 985,000 m2.

The Hanoi office market remains positive signs. Typically, the total newly rented area was over 14,000 m2, a high demand. Vacancy ratio fell to 25 percent from 30 percent in the previous quarter. According to statistics, nearly 390,000 m2 of office space are expected to enter the market in 2012. Experts said that rented area will hit a refresh record in 2012 although vacancy rates and supplies continue to rise.
In the western area, prices are forecast to slide to let more while owners in the downtown will not compete in price. In addition, investors will also apply more strategic steps. For new projects, investors can apply more competitive price policies for tenants and brokerage units. For old projects, they will focus on restoring and upgrading.

Retail space market – On the tenant side

After the special fourth quarter with three large commercial centre projects brought into operation, adding 109,500 m2 to the market, there were no new projects inaugurated in the first quarter of 2012. The total supply stood at 250,000 m2.

Occupancy rates across the market slightly slid although there were some big tenants like Home Entertainment Centre and New Cinema because their leased spaces belonged to others earlier, or from newly operated projects like Vincom and Centre Long Bien. In the downtown, the vacancy rate in the business centre was 5 percent, down 0.6 percent from the previous quarter, while vacancy rates out of the business centre was 14.9 percent. In the downtown, rents are quite stable because vacancy rates are unchanged. However, rates in non-business districts decline because of a rise in vacancy rates.

Serviced condos – more choices for buyers

Keangnam Landmark 72 opened in January 2012 with 378 serviced apartments for the area west of Hanoi. With this huge supply, the project has offered attractive incentives and promotions for customers. While rents offered by most investors were almost unchanged from the previous quarter, some projects, especially those in the west, were ready to negotiate rental prices to catch the attention of with customers in the face of competition from serviced apartments of Keangnam Landmark 72. Occupancy rate reached 81 percent, a slight increase from the previous quarter. Customers are interested in serviced apartments in the western region because many companies rented offices here.

Reported by Luong Tuan | VCCI News

Vincom Center A was handed over to customers

29 Apr
VNRE – After three months of sales, the commercial center (retail floor) at Vincom Center A was filled to 70% of area for fashion, jewelry, high-end accessories; 60% of area for restaurants, cafes, fast food; 70% of area for electrical equipment… Until now, Vincom Center A has completely finished raw building and is installing 70% of electromechanical system, the handover to tenants to finishing interior from April 1, 2012. The project was scheduled to open on October 10, 2012.


Besides the commercial center, Vincom Center A includes 5-star hotel named Vinpearl Luxury with nearly 300 rooms, is located from L5 to L8 floor of the building, 3 floors of underground parking (25,000 sqm) with a capacity of about 1,000 cars/10.000 motorcycles.

Source: VinGroup

Work to begin on Lavenue Crown in Q3

29 Apr
VNRE Lavenue Crown project, located in HCMC’s commercial district and comprising a commercial center, five-star hotel and serviced apartments, will start construction in the third quarter this year, according to investors.

As one of three investors of the project on Le Duan Boulevard in District 1, Tran Le Nguyen, managing director of Kinh Do Corporation (KDC), was speaking of this plan at a shareholders’ meeting last weekend.

The Lavenue Crown project is developed by Lavenue Investment JSC, a joint venture between KDC with a 50% stake, HCMC Housing Management & Trading Co. and Mayflower Investment Co.

The project will be built on 4,900 square meters in a prime location near the city’s landmarks like the Notre Dame Cathedral and the French-built Post Office. The 36-storey building, which has total floor space of 66,000 square meters, is set for completion by 2014.

Reported by Quoc Hung | The Saigon Times

Hochiminh City: $500 million to build The One complex

26 Apr
VNRE On April 26, Bitexco has officially introduced the implementation of the project named The One Ho Chi Minh City at No.1 Pham Ngu Lao Street, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City with total investment capital $ 500 million.

Mr. In-Suk Ko, chief executive officer of Bitexco, said: The One Ho Chi Minh City will be ground breaking on April 27on a land area of 8.600 m2, gross floor area is 195,000 m2.

The project includes the functions of the trade center, office, serviced apartment and 6-star standard hotel named Ritz Carlton. The One Ho Chi Minh City includes two towers which are connected by the shopping centre at the podium.

The 55-storey West Tower (240m) contains office floors in the lower half and a hotel in the upper half. The 48-storey East Tower contains the office in the lower floors of the tower, from the 24th floor to 48th floor is the area of ​​the Ritz Carlton hotel.

The architectural design has a cultural context as it refers to the Vietnamese myth of the Two Dragons. The podium represents the coiled tails, while the two dragons rise from the land. The cantilevered tops represent the dragon’s heads. The glass cubes are figurative depictions of Vietnamese pearls in the mouths of the dragons.

The image will provide a powerful reminder to current and future generations of both the Vietnamese myth and the symbolic representation of the city’s fame as the ‘Pearl of the Orient’. When completed, The One Ho Chi Minh City, with its iconic design and strategic location, will represent the new and dynamic Vietnam and will be a new city landmark.

The One Ho Chi Minh City will be completed and put into operation in late 2015.