Vietnam Real Estate Newsletter
VietRees – Vietnam Real Estate – Web: www.VietRees.com – Email: Info@VietRees.com
NEWS BULLETIN FOR PROFESSIONAL REAL ESTATE INVESTORS, PLANNERS, DEVELOPERS AND MARKETERS
English Edition - Weekly Issued On Next Tuesday Editorial Board: VietRees - Market Information Department
A1-HOT NEWS
1. Hochiminh City’s land and housing Source: Lao Dong
price, how deep will it go down?
14 Apr, 2008
In the past two weeks, land and housing price in HCM City keeps
going down. Project lands from medium to premium grade in Dist.2
and Dist.9 have been under the strongest blizzard of mark-downs.
As compared with the time before Lunar New Year, land price in
this region has reduced nearly 40%. Despite this strong marking
down, almost no important transactions have been recorded in the
last 10 days. Real estate experts hold that many speculators in
hold of a large volume of commodities now see their “waiting
power” eroded before a market recovery and are releasing their
stocks in order to take back money before it’s too late.
For the present time, when inflation control has become the
Government’s leading concern, mobilization and loan interests will
keep staying at high levels. Besides, according to professional
assessments, the current real estate market is being in state of
“bursting bubbles” rather than “deflating balloons”. Land and
housing prices will continue its downtrend so long as the demand
does not surface again.
3. Can Tho, Binh Duong real estate market, Source: Tuoi Tre
still in “hibernation"
16 Apr, 2008
With their current “brakeless” downturn, Can Tho, Binh Duong real
estate markets by no way can’t help cooling off. Everybody is trying
to mark down to push the commodities out, yet not many buyers
are showing up. A brokerage office in Can Tho said they have took
in quite a number of floor grounds and accomplished houses in
various projects with a reduced price, 10-15% lower than that of
before the Lunar New Year, but the sales were still badly slow.
In Binh Duong, transaction volume is very low. Contrasted with the
“hot” time, when prices were 40 - 50% up, the land price is now
fallen back to the 2007 normal levels. Even areas that used to be
considered to be “golden land” and attract a lot of visitors, have
become so deserted, buyers are scarce and very cautious on
documentation. According to real estate experts, the real cause is
from credit policies. And, besides, escalating material prices is also
another reason that pushes real estate commodities to climb 8 -
10% higher than previously.
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This is a weekly newsletter issued by VietRees – Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning or
interested in Vietnam real estate market changes. Although the information is selected, synthesized from all reliable sources, this newsletter is only for reference and VietRees is not responsible for
the occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenient tracking or
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A27
Week 3 – April, 2008
A member of:
Page 1
2. Real estate development: Enterprises Source: SGTT
end up sell out projects!
15 Apr, 2008
Facing the possibility of their lands being revoked if they fail to
carry out the project in the time frame committed, quite a number of
project owners have tried to resell their rights to carrying out the
projects to domestic as well as foreign investors. That originates
from the real estate stagnation and the bank credit tensions.
In a heated real estate market, a great many projects have
mobilized capitals by selling out the purchase rights ahead of their
very implementation and even the banks were willing to open their
purse to projects.
However, real estate buyers nowadays cannot find easy credits like
they could before. And without funds, the enterprises projects
would stay on the same place. And furthermore, one year from the
day of acceptance of the project, if implementation does
materialize, the government shall revoke the project land according
to the prevailing law.
4. Housing for moderate income Source: VnEconomy
people, a disregarded issue
16 Apr, 2008
In recent times, housing projects are numerous, but most of them
are to mate with the high income people, while the moderate and
low income counter part are virtually forgotten. House apartments
of a few hundreds millions VND are always in good demand, but
very scarce.
In fact, alongside investors for the upscale housing segment, there
are a few developers who opt for moderate value housing units, but
these are not many. In a period of recession of project lands and
upscale house markets, housing products with moderate living
areas and reduced cost are still in strong demand.
In order that housing projects for moderate income people are
effective, an encouraging and realistic investment policy should be
in place to assure the capital recovery and attractive return.
 Vietnam Real Estate Newsletter A27
VietRees – Vietnam Real Estate – Web: www.VietRees.com – Email: Info@VietRees.com Week 3 – April, 2008
A member of:
NEWS BULLETIN FOR PROFESSIONAL REAL ESTATE INVESTORS, PLANNERS, DEVELOPERS AND MARKETERS

English Edition - Weekly Issued On Next Tuesday Editorial Board: VietRees - Market Information Department

Page 2

A2-FOREIGN INVESTMENT TO PROPERTY

5. Ba Ria - Vung Tau: 4.2 billion USD
investment for upscale tourist resort area
The People's Committee of Ba Ria- Vung Tau has issued an
investment license to the ACLD (Canada) Group to construct the
Asian Coast upscale tourist resort area in Phuoc Thuan, Xuyen
Moc province with an investment capital of about 4,2 billion USD.
The project will consist of tourist resort, recreational complex,
upscale hotels and international conference quarters.
Source: Tuoi Tre 6. Swiss business invests into Source: TheSaiGonTimes
Phu Quoc
14 Apr, 2008 15 Apr, 2008
The Pearl of Asia Development Company, a member of the Swiss
“Trustee Suisse” has announced their 6 billion USD investment to
build the Pearl of Asia Complex in Phu Quoc of Kien Giang
Province, encompassing an area of 3,200 hectares.
The complex is designed with a village-like structure with upscale
hotels, villages, and quarters for sports, casino, performing hall,
pleasure boats and a business center.

A3-REAL ESTATE COMPANY EVENT

7. New orientation from Dat Lanh Source: VietRees 8. Sudico in cooperation with Source: Nguoi Lao Dong
Military Bank
14 Apr, 2008 15 Apr, 2008
Dat Lanh Realty Company has just submitted an official letter to The Military Bank (MB) has signed a cooperation agreement with
the Ministry of Construction and the Hochiminh City People’s Urban Investment & Song Da Industrial Zone JSC (Sudico). Both
Committee for a pilot construction site for the reduced living area of sides will widen their cooperation opportunities in various fields
30 – 40 sq. meters in Thai An Residential Area, Dist 12. The such as infrastructures, project constructions, finance, insurance,
average cost will be between 240 - 300 million VND/ unit. real estate.
If approved, the company will prepare an investment project for MB will directly or jointly finance Sudico to carry out infrastructure
700 - 800 house apartments to cater the housing need of low- projects and real estate. MB will also provide credit products to
income people. Sudico’s clients.

9. . Hoang Anh Gia Lai to construct 7
key projects
On April 15, Hoang Anh Gia Lai Company has simultaneously
celebrated the launching ceremonies of 7 key projects in Gia Lai
province, with a total investment cost of 1,900 billion VND. The
projects are scheduled to enter operation in 2011.
The projects include: an upscale apartment houses cluster plus
commercial center on Anh Hung Nup street (300 billion VND);
HAGL Office High Rise Building at Phu Dong T-joint (60 billion
VND), HAGL General Clinic on National Route No 19 (450 billion
VND), Pleiku Stadium, with 17 thousand seats (50 billion VND),
Steel Billet Plant, Hoa Phu commune, Chupah Dist. (150 billion
VND) and two 42-Megawatt hydropower plants (900 billion VND).
Source: Tien Phong 10. Thai Son JV wins “golden Source: Thanh Nien
16 Apr, 2008 lands” tender 17 Apr, 2008
In the afternoon of April 17, 2008, The Hochiminh City’s Board of
Tender has announced the results of the tender for the Pham Ngu
Lao - Tran Hung Đao - Nguyen Thai Hoc, “golden” lands in Dist 1.
According to which the Thai Son JV (consisting of 8 members, Thai
Son Construction Investment JSC, Chi Thanh Investment JSC,
Anh Duong Financial Investment JSC, and BIBIV, BIDV Land JSC,
Hankwa Techno Construction JSC and Hanwha Galleria Co Ltd.)
has won the tender to implement the project.

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This is a weekly newsletter issued by VietRees – Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning or
interested in Vietnam real estate market changes. Although the information is selected, synthesized from all reliable sources, this newsletter is only for reference and VietRees is not responsible for
the occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenient tracking or
getting full information. Should you need any queries or register to receive the newsletter, please contact via marketnews@VietRees.com.
 Vietnam Real Estate Newsletter A27
VietRees – Vietnam Real Estate – Web: www.VietRees.com – Email: Info@VietRees.com Week 3 – April, 2008
A member of:
NEWS BULLETIN FOR PROFESSIONAL REAL ESTATE INVESTORS, PLANNERS, DEVELOPERS AND MARKETERS

English Edition - Weekly Issued On Next Tuesday Editorial Board: VietRees - Market Information Department

Page 3

A4-PROPERTY PROJECT
11. Saigon South: Construction of Source: Thanh Nien
The Adonis 2 launched
13 Apr, 2008
The strategic joint venture between Hong Quang Real Estate &
Urban Project Construction JSC, Nguyen Do Co.Ltd and Van
Thinh Hung Real Estate JSC will launch their Adonis 2 in the
middle of April. The Adonis 2 upscale condominium project belongs
to the Hong Quang 13A plan area, South Saigon, Ward 7, Dist 8
and covering a construction area of 9, 080 sq. meters with 4
housing blocks. The floor level will provide commercial center, mall,
swimming pool, movie theater, spa, gymnasium, etc... A&D Design
(USA) and DP Consulting will undertake the project design.
Hoa Binh Construction and Real estate JSC is chosen to be the
main contractor.
13. One billion USD investment in Source: TheSaiGonTimes
Saigon South
16 Apr, 2008
April 16, 2008, Tan Hung Investment JSC announced its Hung
Dien New Town project in Dists 8 and Binh Chanh with an
investment capital of 1 billion USD. and a total surface area of 20
hectares. The project, designed by O’Connor Construction
Management Inc. (USA) and Baum (Korea) is a complex consisting
of three 15-level high-rises, two 8-levels, two 25-levels, one 34-
level and two 90-levels, including apartments, lease office,
recreational area, school, medical center of international standards
plus a 5-star hotel. The project is scheduled to complete and enter
operation after 36 months of construction.
12. One more upscale tourist area in Source: Tien Phong
Van Phong Bay
13 Apr, 2008
April 11, 2008, the management board of Van Phong Economic
Zone has granted the Hochiminh City’s M&C JSC, an investment
license for the upscale Ho Na – Van Phong tourist area.
The project uses 150 hectares of the Ho Na stretch, the east most
point of Vietnamese mainland. The tourist area complex will
provide resort tourist activities, sports, entertainments, golf course,
commercial center and services. The project’s total investment
capital is 83 million USD.
Stage 1 is expected to complete and enter into operation by the
year 2010 and stage 2 for the completion of the upscale Ho Na –
Van Phong tourist area by the year 2013.
14. Hochiminh City with 2 more office Source: VietRees
high-rises
17 Apr, 2008
The People’s Committee of Hochiminh City has transferred the
land lot No 262 -264 Tran Hung Dao, Nguyen Cu Trinh Ward, Dist
1 to the General Company of Traffic and Transport-Mechanics for
the construction investment of an office high-rise building.
Besides, The People’s Committee also granted Tan Hoang Minh
Trading and Hotel Services Co. Ltd a permission to build another
office high-rise at No 90 Nam Ky Khoi Nghia, Ward 8, Dist 3.
Tan Hoang Minh will be responsible for the design of the
architectural plan according to guided criteria and the construction
investment procedures.

A5-LAW INFORMATION
15. Ministry of Construction promulgates
new norms
The Ministry of Construction has promulgated Vietnam’s new
construction norms with the Decision dated 03/04/2008.
These norms specify the minimum distance between detached
construction works or adjoining houses to be not less than ½ of the
height of the higher construction and in no case, below 7 meters
wide. The recess distance from road boundary will depend on the
plan’s organization and should be proportional to the height of the
project, the allowed construction surface is also reduced
accordingly.
The Ministry also said the above should serve only as a framework,
and there could be exceptions. Specific considerations by relevant
functional organs will be necessary for each particular case.
Source: Tuoi Tre 16. Land clearance proceedings shortened Source: VietRees
16 Apr, 2008 17 Apr, 2008
The Ministry of Natural Resources and Environment has proposed
to the Government some changes and complements to the Decree
84/2007, to remedy the issues of “suspended planning”, litigation
over policies of land clearance, compensations and supports, in
order to enable enterprises and developers to obtain ground space
for their scheduled housing constructions and productions.
According to this, Provincial People’s Committees will administer
the land delivery, retrieval, and lease for economic development
projects. In cases of project lands of retrieval category by the
government, and that the investors wish to arrange compensations
with the subjected owners and whose consent over the price could
not be obtained in a 90 day time, the People’s Committees has the
authority to decide a final appropriate retrieval.

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This is a weekly newsletter issued by VietRees – Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning or
interested in Vietnam real estate market changes. Although the information is selected, synthesized from all reliable sources, this newsletter is only for reference and VietRees is not responsible
for the occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenient
tracking or getting full information. Should you need any queries or register to receive the newsletter, please contact via marketnews@VietRees.com.