VNRE - Board of Management of Saigon Hi-Tech Park (SHTP) has shown to Ho Chi Minh City People's Committee the plan to build the Science space park on an area of 93.2 hectares with total investment of nearly 5,300 billion VND.

When completed, this is like the heart of the SHTP, attend to the goal "promoting the endogenous capacity for high technology" of the country by attracting capital resources, technology and knowledge... This place will be space for businesses, universities in the country operating on the field of research - development, breeding ground for young talent... Expected, in 2012, the first items of the Science space park will come into operation.

Thus, by October 2010, after 8 years, SHTP has attracted many large corporations inland and abroad such as Intel, Nidec, Jabil, Sonion, Datalogic, FPT Software, EVN Telecom... The Intel chip assembly and testing factory with an investment of $1 billion went into operation on 29-10 is specific demonstration for SHTP's initial success in attracting investment.

Reported by Dan Nhiem

VNRE - Today 02/11, Hoa Binh Corporation, Tien Phuoc Limited Company and Company 990 - Ministry of Public Security begin construction of Le Meridien 5-star hotel, with total investment of nearly US $120 million.

Le Meridien 5-star hotel is located in the 3C Ton Duc Thang, District 1, Ho Chi Minh City.

Le Meridien is a complex building of 5-star hotel with 350 international standard rooms and 13.970m2 grade-A office building. Le Meridien has total floor area of nearly 43.686 m2, including three basements, 24 floors.

According to the project owner, with luxurious and modern architecture, the building will help to modernize the face of Hochiminh city. After completion, the building will be operated by Starwood Group (USA) with Le Meridien brand.

In particular, this is the first 5-star international standard hotel in Ho Chi Minh City by a Vietnam company as an investor, was constructed by main contractors in the country.

Mr Le Viet Hai, Chairman of the Board Hoa Binh Corporation said, this is one of the most valuable works which Hoa Binh have won contract for building in this year with bid package value is nearly 500 billion VND.

Estimated Le Meridien 5-star hotel will be completed on 15/5/2012.

VNRE - Last night 31/10, Bitexco Financial Tower (BFT) - Vietnam's highest tower with 68 floors, 262 meters high, was officially inaugurated in Hochiminh City. This lotus-shaped tower is a symbol for the development of Vietnam in the era of international economic integration.


BFT tower was designed by Carlos Zapata, a renowned architect has designed the Cooper Square Hotel in New York and Sodier Field Stadium in Chicago (USA). Structural steel and glass of the building simulated a lotus - the national flower of Vietnam.

Mr.Carlos Zapata shared, "When learning about the cultural significance of the lotus for Vietnam, I found the inspiration to design this building. The lotus symbolizes purity, close-knit and optimism towards the future. With those characteristics, BFT tower will be the typical image representing for the Vietnam people in the region and in the world."

Here are some sparkling pictures of BFT tower in the grand openning ceremony:









Photos was taken by Le Ha

VNRE - The inauguration ceremony of the Resettlement Area Infrastructure and the ground-breaking ceremony of Saigon Golf, Country Club and Residences (SGCCR) was held at the construction site – An Phu Ward, District 2, Ho Chi Minh City - on October 23rd, 2010. SGCCR will be the first development in Vietnam to offer a unique and luxurious combination of golf, resort lifestyle and family entertainment in one location just minutes from the city center.


The developer, Saigon Development and Investment Corporation (SDI) was proud to announce the completion of the resettlement area infrastructure for affected families. The infrastructure has been completed prior to the construction of the Saigon Golf, Country Club and Residences. To highlight their contribution to the community, SDI donated one billion VND to the Youth Talent Fund of District 2.


The legendary golfer Greg Norman along with SDI board members, government officials, and honorary guests broke the ground for the complex. Greg Norman is the designer of the Saigon Golf Course and the principal behind the Reflection by Greg Norman. Additionally, he discussed his involvement in the project with press, invited guests and dignitaries.

SGCCR has a total area of 120 hectares developed by SDI Corporation. The SGCCR project features an 18-hole championship golf course, 193 villa residences based in three locations around the site and 132 condominiums housed in two separate blocks inclusive of 8 magnificent penthouses, together with a country club, a City Spa designed and managed by Six Senses Spa, and a hotel/serviced apartments complex.

Saigon Golf, Country Club and Residences is designed and engineered by an international consultancy team including Greg Norman Golf Course Design, Southern Cross Development, renowned architects Alex Popov & Associates, DWP, and CPG. The Project Management and Sales & Marketing team is Norfolk Group. The construction of the golf course is being undertaken by Linksshape with Sala Design Group providing the landscape concepts and designs. The golf course and residences are scheduled for completion by end of 2012 and 2013 respectively.

About the project developer - SDI

Saigon Development and Investment Corporation (SDI) is the owner of Saigon Golf, Country Club and Residences. Formed in 1999, SDI is a group of leading international and local business people whose philosophy is to bring together the very best minds in development to carefully select projects that offer a unique investment opportunity to its clientele, while setting new standards that will rival the finest developments in the world.


About Greg Norman

Full name: Gregory John Norman
Started his professional golf career in 1976.
Awards:

He is internationally renowned golf course designer, the founder and operator of Southern Cross Developments. Southern Cross Developments International (Southern Cross) is a real estate development and investment company specializing in the brand and lifestyle positioning and capital structuring to differentiate and enhance real estate. Founded by Greg Norman, Jeremy Seabridge and Brett Walsh. Southern Cross’ projects are located in highly desirable lifestyle environments such as golf course communities, marinas, skiing destinations, seaside resorts and environmental/ecotourism developments as well as high-end urban residences.

VNRE - On 28/10, Vietcombank - Bonday - Benthanh Joint Venture Company Limited (VBB) officially started the Vietcombank Tower office building project in Me Linh Square, District 1, HCMC.

The project is built on an area of approximately 3,200 square meters, consists of 35 floors and a total investment of approximately U.S. $96.5 million, of which the construction cost accounts for about U.S $69 million.

VBB said, when completed the Vietcombank Tower will provide about 55,000 square meters of Grade A office, and will simultaneously placed the headquarters for the Bank for Foreign Trade of Vietnam - Ho Chi Minh City branch.

As expected, Vietcombank Tower building will be completed and put into operation in July/2013.

Photo credit by Nhi Lang Than

VNRE - On 27.10, the Berjaya Land Berhad company, a member of Berjaya Group (Malaysia) awarded $3 million for local authorities to build kindergarten and Children's Culture Centre - District 10, Hochiminh City.


In Vietnam, Berjaya invests many big scale projects such as Vietnam Financial Centre (VFC), Vietnam International University Township (VIUT), Thach Ban New Urban, Bien Hoa City Square...

About the implementation progress of VFC project, Mr.Nguyen Hoai Nam, CEO of Berjaya Vietnam, said the design has adjusted 14 times. "If everything happened as plan,July 2011 we will start construction the project, the VFC will be completed in 2016," Nam said.

The VFC is a complex of five towers from 39-48 storeys, including three office towers, two five-star hotel towers and commercial center. The project is located on an area 6.8 ha on the February 3 road, District 10, HCMC. Total investment is about of US $930 million.

VNRE - The Malaysia-based Gamuda Land Group and Sacomreal officially introduced to public the Celadon City project, a complex of trading, sport centres, office buildings and residential quarter in Tan Phu Dist, HCM City yesterday October 25, 2010.


With total investment capital of $215 million, the project is situated in an area of 82 hectares with expectation of providing 7,000 high-class apartments, trade centre and offices for lease, of which the construction area counted for only 20 percent of the total, the rest for green parks and other facilities for community services.

It was expected that the first five apartment buildings in the complex would be completed in late 2012, providing the market with 1,448 apartments.

Source: Intellasia

VNRE - Decree 71/2010/ND-CP has opened up opportunities for overseas Vietnamese to own house, but the housing market is expected no major change in the short term.

All overseas Vietnamese have right to buy house. This is one of the important contents of the Decree 71/2010/ND-CP of the Government has come into effect from August 8th 2010 and guided by the Circular issued on September 9th 2010. While the real estate market is groomy, the Government's dynamic is expected to bring a new vatality to the market.

Opportunities for overseas Vietnamese to own house

The Circular guiding the implementation of overseas Vietnamese to buy houses under Decree 71, two overseas Vietnamese objectd will have right to to buy house in Vietnam, including the purchase unlimited and only buy a home. Accordingly, the object is not limited to buying overseas Vietnamese who are also hold citizenship in Vietnam, the Vietnamese origin directly invest in Vietnam, scientists, culturist, people have special skills that Vietnam' agencies and organizations need and are working in Vietnam, people has husband or wife is Vietnam citizen who live in the country.

Vietnam origin are not under the subjects mentioned above, but have been granted visa-free and allowed to reside in Vietnam for 3 months or more will have right to owns a private house or apartment in Vietnam.

According to report of the Ministry of Construction, about 70% of nearly 4 million Vietnamese in foreign countries retain Vietnamese citizenship. This means the most of Vietnam expatriates will be bought and owned house in Vietnam with an unlimited number as people in the country.

In addition, according to the Circular guiding the implementation of Decree 71, overseas Vietnamese only own house or land in the project by the real estate development unit sales. For the land of individual, private, agricultural land (non-functional to reside), overseas compatiots are not allowed to own or buy. However, if the land is enclosed housing, certificate papers for land use rights and assets attached to land, overseas Vietnamese are still property.

Legalized house rather than buying

Mr.Tran Minh Hoang, Chairman of the Board - Vinaland Real Estate Company, said that this regulations the real estate market will be stimulated again after a long time frozen. "In 2009, economic decline, making remittances to Vietnam decreased. However, this amount is nearly US $7 billion. It shows that the financial capacity of overseas Vietnamese is very high. This will be an important capital channel for real estate market, "he said.

However, in remittances annually term, mostly used to buy a home (due to a relative's name). That's why Mr.Le Hoang Chau, Chairman of HCMC Real Estate Association, said that overseas will take advantage of the opening of the Decree 71 to legalize the property previously purchased rather than buying new house. Thus, the housing market will remain unchanged in the short term.

Mr.Ngo Duong Hoang Thao, a Vietnamese residents in The U.S, General Director of a big company in Vietnam, also said that these will have trend on the overseas Vietnamese to buy house, but in immediate, they will legalize the house by the relative's name rather than buying a new home. He also said, he will soon legalize two houses bought in Vietnam since 2002.

On the other hand, many overseas Vietnamese are afraid of home prices in Vietnam are too high, while the economic situation is not through difficult yet in the country where they are living. At the seminar guide and answers about property, land use and housing for overseas Vietnamese and their relatives recently in Vietnam, Mrs.Nguyen Thi Vui, a Vietnamese residents in Canadian, said she plans to buy a house in Vietnam and was introduced a 150m2 apartment in Binh Thanh district - HCM City with price more than US $350,000.

"Living conditions, activities and transportation infrastructure in Toronto - Canada are higher than Hochiminh City, but no such price. Housing in Vietnam are too expensive!", Mrs.Vui said. High price is one of the reasons makes overseas Vietnamese haven't decided to buy houses at this time.

According to Mr.Tran Ngoc Nhat, Former head of marketing department of Novaland Real Estate Company, overseas Vietnamese often returns Vietnam during the Western New Year and Lunar New Year. On this occasion, they will review the information if they want to buy house in Vietnam. Thus, at least to wait through the Lunar New to see the impact of Decree 71 for the Vietnam real estate market.

Reported by Dang Hung/ NCDT

VNRE - On 22/10/2010 at the Sheraton Hotel -HCM City, Pico Joint Stock Company and CBRE official launched the Pico Mall trade center. This project is the first trade center of Pico JSC which had been known as a leading retailer of electronic - telecommunications - IT - digital - household products.



Located at 229 Tay Son, Dong Da District, Hanoi, Pico Mall consists of 5 floors with gross floor area of about 30.000m2. Here will be showcases of many famous fashion brands in the world, along with a cooking paradise with Asian-European flavor and the entertainment area including cinemas, bowling...

PICO Mall is being developed in the core of Dong Da District, one of the most densely populated districts of Hanoi, surrounded by many developing residential and commercial projects. Located on a main road connecting Hanoi's centre to the urban district of Ha Dong, PICO Mall, together with other developing projects nearby, creates new shopping and entertainment destinations in Hanoi.

Lifestyle shopping, Lifestyle Destination


PICO Mall is more than just a shopping centre: it aims to provide our visitors a new shopping and entertainment experience.

PICO Mall is part of MIPEC Tower which is comprised of 1 Grade A Office tower, 2 high-end Condominium towers, a 5-storey Retail Podium and 2 floors of basement parking. The 30,000sqm mall has been designed by Finenco (Italy) & PTW (Australia).

For further information please contact:

Pico Investment and Real Estate Management JSC
Add: 229 Tay Son, Dong Da, Hanoi
Tel: 84.4.3564 2614 - Fax: 84.4.3564 2615
Contact: contact@picomall.com.vn

Rental agent - CB Richard Ellis (Vietnam) Co., Ltd.
Add: Floor 12A, Vincom City Tower B, 191 Ba Trieu, Hai Ba Trung, Hanoi
Tel: 84.93 236 5686 - Email: picomall@cbre.com.

VNRE - Bitexco Financial Tower, the tallest building in Ho Chi Minh City and the second tallest one in Vietnam, will be inaugurated on October 31st, according to the investors and entrepreneurs.

The design of Bitexco Financial Tower (BFT) is modelled after the shape of a lotus bud. BFT is 262 meters in height with 68 floors which are utilized for different functions as trade centers, offices, restaurants, first-class apartments, a helicopter landing site, and an observation tower for tourists to view the city.

According to the investors, BFT possesses a modern and smart design that can absorb most sunlight yet prevent the harmful effects from the sun, and its energy system is appropriately installed helping to conserve a maximum amount of energy consumption.

“At this point, BFT is the first A+ grade building in Vietnam,” affirmed Peter Dining, General Director of Colliers International Vietnam. He explained that world leading experts had taken the responsibilities for all phases of the project from the architectural design, technical, mechanical, and electrical systems to the supervision and management of all related systems as well as the construction and activities of sub-projects.

By Thu Nguyen/QDND

VNRE - This morning (24/10), PetroVietnam Corporation held a groundbreaking ceremony condominium project named Hanoi Times Tower in Van Phu new urban area, Ha Dong District, Ha Noi.

Project with total investment of 1,500 billion, by PetroVietnam Premier Recreation JSC (PVR) as investor.

Hanoi Times Tower is built on land lot CT10 - 11, area of 7.023m2, including 39 storeys and 2 basements with a total floor area is 109.685m2.

Apartment floor area of the project is 62.088m2 with 580 apartments and 7.955m2 for commercial area, meet the needs of about 2,300 residentials.

As expected, quarterly 4/2014, Hanoi Times Tower will be completed.

VNRE - The European Center for Architectural Design and Urban Studies and the The Chicago Athenaeum Museum of Architecture and Design (U.S.) has said the "wNw bar" (Wind and Water Bar) in Binh Duong, Vietnam of the Architect - Vo Trong Nghia and his partners received the award for "Green Good Design 2010".

"wNw Bar" awarded after being selected to the list of 100 environmental-standard products and programs of individuals, government, through thousands of other projects from 46 countries.

"Good Design Award is a prestigious award from 1950 in Chicago and this is the second "Green Good Design" - award emphasizes the importance of sustainable design and develop a sense of community.

"wNw bar" also won the IAA (International Architecture Award) and second prize about structure of the World Architecture Festival in Barcelona.

VNRE - On 23/10, the Saigon investment and development Joint Stock Company (SDI) started construction of the Saigon Golf - Country Club and Residences project in An Phu ward, district 2, HCMC. This project will be managed by Norfolk Corporation.

The project includes an 18-hole golf course, residential area with 193 villas and 2 buildings with 132 apartments and 8 penthouse, sports club of 7,000 m2, spa area of 5,000 m2, hotel and apartments for rent.

The golf course and residential area are expected to be completed in turn by the end of 2012 and 2013.

Mr. Nguyen Thanh Hoang, Chairman of SDI, said the complex project has a total area of 115 hectares and the total investment cost is estimated at 5,000 billion.

Reported by Binh Nguyen

VNRE - The Mandarin Garden complex project of Hoa Phat Group at the Trung Hoa Nhan Chinh has completed 90% of the piles and supporting wall and will be implemented of basement from January 11/2010.

With a total area of 25,886 m2, the Mandarin Garden complex is built at the lot NO3 of Tran Duy Hung Southeast urban with 4 towers from 25 to 29 floors. When completion, the complex offers over 1,000 apartments. The owner is Golden Gain Vietnam Corporation, a member of Hoa Phat Group.

Showroom of the project is under construction and expected to launch in December/ 2010.

Reported by Thu Hien

VNRE - That is result also confirmed by many scientists, advisory board at the international scientific conference held on the morning of 15/10/2010 in Quy Nhon city about the idea to built Mui Tan artificial island - second artificial island in Vietnam, after the Flamboyant island - Hai Phong. The conference was held by HBC Investment and Services Corporation (owner), attracting over 200 delegates are professors, doctors, scientists and key leaders of Binh Dinh province.

Agreed with the comments of Mrs.Nguyen Thi Kim Cuc - Chairman of HBC Investment and Service Corporation, many delegates said that the planned construction of Mui Tan artificial island is not only to create an attractive tourist destination to attract domestic and foreign tourists, but also exploit the tourism potential of the Phuong Mai Peninsula and connect with Hai Giang tourist area of Nhon Hoi Economic Zone.

Many critical discussion of scientists praised the idea of investors and agreed on basic research results of the design consultant.

Research results were presented at the Conference by Royal Haskoning Consulting (UK) performed. According to the conclusions of Royal Haskoning, the construction of Mui Tan artificial islands does not affect the international shipping channel into the Qui Nhon Port; or flood drainage capacity of the Thi Nai lagoon...

Mui Tan artificial island is one in two zone in the Mui Tan - Tran Hung Dao statue tourist resort project. Zone A includes an oasis in the sea with full international quality services, parking lots and other support services. A modern carina meet and see tourists off to visit neighbouring tourist areas like the Hai Giang Beach Resort, Life Resort... and especially take you to the Zone B, at the end of the Phuong Mai mountain where is invested on an area of 5ha, including bungalows, festival square, a souvenir house, the St-Tran temple, artificial waterfall,... Total investment is estimated at US $130 million.