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. Hanoi: project land down, Source: Thanh Nien
residential up 31 Mar, 2008
Since after Vietnamese Lunar Tet, house and land properties at
project areas are deplorably collecting dust on the shelf. Land in
large projects within the city are uniformly knocked off from 1.0 to
1.5 million VND per sq.meter. On the other hand, prices in
residential areas are going up every passing day, probably under
the impact of “moving toward the capital” psychology. Many
brokers said more buyers were searching in residential lands as
compared with the time before Lunar Tet, not many transactions,
however, were closed with success, due to prevailing sky-high
pricing. This pushing-up of prices in residential areas originates
largely in the “self contemplation” of the denizens, which are at
times completely groundless. At the present time, quite a few
investors are looking for farming lands at locations further away
from Hadong city, such as Quoc Oai, Hoai Duc and Xuan Mai.
Prices range from 50-60 million VN per hectare. This is a pre-
emptive move to “intercept the planning”, the trustworthiness of
which is precisely from nowhere.
According to a piece of information from the Ministry of
Construction, the expansion of Hanoi delimitation once approved,
there will be plenty of work to do, the first of which should be the
check-out and readjustment of the whole area’s planning layout.
3. Hoa Binh, not yet Hanoi, but already Source: Dan Tri
prices up to the ceiling” 02 Apr, 2008
On getting wind of a decision to annex 4 communes of Yen Trung,
Yen Binh, Dong Xuan and Tien Xuan (Luong Son District, Hoa
Binh) to Hanoi, many a buyer has come there to search for lands.
Small posts of real estate services have grown up along the roads
leading to these four areas. Before this, at best, one hectare cost
roughly ten million VND, but now prices have rocketed 3 to 10-fold.
Several roadside land parcels have been surrounded with high
walled fences. These were purchased long before, and, known to
belong to some Hanoian tycoons, intended for weekend resort
places.
Some inhabitant of the communes said local authorities had
“ordered” that no transfer of land is allowed in areas in wait for
annexation.
A2-FOREIGN INVESTMENT TO PROPERTY
5. Singaporean Company invests to Source: TTXVN
a resort center in Hue 30 Mar, 2008
On 27/03/2008, Cattigara One Limited (Singapore) obtained an
investment license to construct a resort center, named Bai Chuoi –
Lang Co, Phu Loc district, Thua Thien-Hue province.
The project has a surface area of 100 hectares, with a total
investment capital of 120 million USD. It has a commercial and
recreational area, 170 villa houses for rent or sale plus one up-
scale quarter reserved for heads of state.The project will consist of
two stages, and is expected to complete in 6 years.
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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 have any queries or register for the newsletter, please contact us via marketnews@VietRees.com.
A25
Week 1 – April, 2008
A member of:
Page 1
2. Apartment houses that fit the pocket Source: Tuoi Tre
01 Apr, 2008
While transactions of floor lands in Residential Area and up-scale
apartment houses are slowed down, the same in low-scale houses
have gathered much attention, esp. those of value up to 1 billion
VND. Buying could be stronger if the floor areas are more reduced.
Real Estate companies let out that their future projects would be
aiming at customers of moderate income.
As this group has a true need of accommodation housing. They are
very cautious about pricing, location, legality of a project before
making their decision.
It is estimated that only about 10% of customers have a real
housing need while remaining 90% of customers are investors.
Proper attention to this real need could modify the current ratio and
fuel up the real estate market.
Info from Hochiminh City Real Estate Association noticed that
many Real Estate businesses from Malaysia, Thailand were
interested in this market sector and preparing their development
plans in the near future.
4. Real estate market after recent moves Source: Dan Tri
by the government 03 Apr, 2008
At the close of 2007 and early 2008, the prices of some
commodities in certain area increased abruptly. This “overheating”
of the real estate market ground to a halt when the State Bank
carried out monetary policies to control inflation, and adjusted
some tax schemes in connection with real estate businesses. This
situation has pushed down the land-housing prices another 10 –
20%, more announcements posted but less transactions
concluded, actual sales have been negligible. The market appears
to bog down.
According to the Ministry of Construction, the cause of these
eruptions was the re-direction of investors from the stock market.
But the fundamental cause is that “supply did not meet demand”.
Besides, many a government policy has boosted the housing need
in certain large cities.
6. Malaysian Group invests into 3 projects Source: TTXVN
in Binh Duong 03 Apr,2008
MAH SING, the Malaysian leading group in design and
development of urban infrastructure and upscale housing projects
announced 02/4/2008 its investment into Binh Duong province of 3
projects of upscale urban hubs with commercial center and
international school facilities, meeting modernity and environment
friendliness requirements.
Becamex IDC (Industrial Development Company) will provide the
infrastructure for this project.
 Vietnam Real Estate Newsletter A25
VietRees – Vietnam Real Estate – Web: www.VietRees.com – Email: Info@VietRees.com Week 1 – April, 2008
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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

A3-REAL ESTATE COMPANY EVENT

7. Green Land (Dat Xanh) to develop new
condominium project in Binh Thanh
Green Land Real Estate Construction & Services Company
announced they would develop a project of Superior Condominium
Apartments in Binh Thanh province at the beginning of April 2008.
The high-rise has 18 levels with an area surface of 4,000 sq.
meters, which include 2 levels in basement, 4 commercial levels;
the remaining levels are for superior apartment houses (100 sq. m
/unit), 4 Penthouses (400 sq. m /unit) plus a mid-air recreational
quarter and swimming pool. Green Land will announce their initial
selling price at the start of the project development.
Source: VietRees 8. Vincom’s real Estate Projects in 2008 Source: VietRees
01 Apr, 2008 02 Apr, 2008
Vincom announced they will complete procedures and launch
construction of major projects in the year 2008, namely: Vicom-2
Building, Golf Course and Eco - tourist Urban Hub, Project Cluster
of Commercial / Services / Hotel - Office Centers and Superior
Apartment Houses, plus Car Parking basement in District 1,
Hochiminh City.
After 6 years of operation, Vicom is now recognized as a strong
brand in the real estate industry.

9. Company 586 develops housing
projects.
Transport Projects Construction Company 586 is developing the
Hoang Minh project, in Ward 3, Soctrang city with 24.7 hectares of
surface area, to be available in the market within this year.
Another project of KDC is in Ward 7, Vi Thanh town (Hau Giang),
with 36 hectare of surface area, is going to be completed. This
project provides1400 apartments & floor plots to meet the demand
of housing for government cadres, civil servants, and people with
moderate income.
Source: Thanh Nien 10. Ha Noi has 3 more upscale office Source: KT & DS
02 Apr, 2008 towers. 02 Apr, 2008
Hoa Phat Corporation said they would begin construction of 3 more
upscale office towers Ha Noi this year.
The corporation will consider the investment in real estate as one
of their key business in the time ahead.
Hoa Phat is preparing to issue more shares and cooperate with
foreign investment fund in particular projects.

A4-PROPERTY PROJECT
11. Upscale Villa Resort Area in Ho Tram,
Vung Tau.
March 27th 2008, Refico Company began construction the upscale
Sanctuary villa resort area in Ho Tram, Ba Ria - Vung Tau
province. Sanctuary resort meets international standards, having
67 superior villa houses, 44 bungalows, restaurants and hotels plus
a sea sport and recreational area.
Savills Vietnam Company will undertake the project’s marketing
and advertisement. Project is expected to be completed in the first
quarter of 2010.
Source: HaNoiMoi 12. Thien Nhan Company launches Source: HaNoiMoi
01 Apr, 2008 construction of upscale Highland Resort. 22 Mar, 2008
April 1st 2008, Thien Nhan JSC began construction of its upscale
Highland Resort, meeting 5-star standard, with an investment
capital of 300 billion VND in Tuyen Lam Tourist Area, Da Lat
province.
Encompassing an area of 30 hectares to the east of Lake Tuyen
Lam, the project has 35 villas, 30 resort houses, resort quarters,
reception hall, health care center, restaurants, conference rooms,
swimming pools and landscape gardens. The project is scheduled
to get into operation after 5 years of construction.

13. Tanimex builds Tani Building.
From now to Quarter 2 of 2008, Tanimex JSC will be completing
procedures for the project’s appraisal and endorsement, finalizing
technical design, cost estimates, tender preparation and site
clearing for the construction of the High-rise Commercial and
Apartment House Tani Building, to be located at 201-203 Ly
Thuong Kiet, Tan Binh district.
Ground breaking is scheduled to be celebrated within quarter 3 of
2008, and construction will start with one block of apartment
condominium.
Source: VietRees 14. United Trust invests into Danang Source: VietRees
02 Apr, 2008 04 Apr, 2008
United Trust Vietnam and PVFC (Petroleum Vietnam Finance
Company) are investors of Olalani Resort &c Condotel. Total
investment capital is over 500 million USD. The project includes 3
large scale villa houses, 5 resort houses, 88 superior apartment
and hotel houses.
The whole project, directly adjacent to North My An beach, Danang
City, encompasses 77,000 sq.meters, and is scheduled to be
launched into operation within the year 2009.
This year, another project, the Olalani Riverside Towers by United
Trust will also start construction on the bank of the Han River.

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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 have any queries or register for the newsletter, please contact us via marketnews@VietRees.com.
 Vietnam Real Estate Newsletter A25
VietRees – Vietnam Real Estate – Web: www.VietRees.com – Email: Info@VietRees.com Week 1 – 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

A5-LAW INFORMATION
15. Hochiminh City applies new Source: Thanh Nien
regulation on land handing - over 30 Mar, 2008
The People’s Committee of Hochiminh City has just issued a new
regulation on land transfer, rental, or conversion of land use’s
purpose in the City.
According to this regulation, from 31/3/2008, all economic
organizations (not using capital budget) must guarantee their
economic capacity before taking over the transfer. For projects of
20 hectares up, the investor must have a capital source equivalent
to 20% of project’s total investment level. For projects below 20
hectares, capital should not be less than 15% of total investment.
Investor’s capital source must be the actual available capital stated
in a financial statement, and be certified by an independent auditor.
If the business is newly established, a report or minutes of capital
contributions from all members of the business, or a document
evidencing the project loan approved by a credit organization, is
required.
Hochiminh City also requires the investor to be responsible for
proving their finance capacity to implement the project by preparing
a list all projects being invested, in which capital investment for
individual project must be explicitly stated.
16. Hochiminh City: all land lease for Source:SGGP
construction of high-rises and 04 Apr, 2008
commercial centers suspended
The People’s Committee of Hochiminh City has requested all their
departments, services to temporarily stop processing applications
for land lease for construction of office high-rises, commercial
centers until further opinions from the Government and the Ministry
of Finance.
Accordingly, Hochiminh City assigned the Service of Finance to
coordinate with other departments to summarize all difficulties,
unreasonable handling of value of right to land use, rental, all
pending problems during their conversion of purpose of land use in
connection with state-own companies, equitized enterprises, and to
propose to empower Hochiminh City with the issuance of rental
rates that are compatible with market price.
All units using land with signs of violation should be inspected and
reviewed by the Service of Natural Resources and Environment,
and in case of breach, must produce a remedied plan of land use
with in 3 months of the violation notice. Beyond this limit, if the
units fail to comply, the Service of Natural Resources and
Environment have to proceed the land retrieval in the earliest time
possible.

Sponsors:

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 have any queries or register for the newsletter, please contact us via marketnews@VietRees.com.