Marketinsightshcmc q3 2014 en

HCMC MARKET INSIGHTS Q3 2014
Tuesday, October 07, 2014
VIETNAM ECONOMIC OVERVIEW

Q3 2014
Q2 2014
Q3 2013
Q-o-Q
Y-o-Y
6.2%
5.3%
5.0%
4.6%
5.0%
6.7%
21,246
21,246
20,036
Export (US$ Billion)
38.8
37.6
32.4
Import (US$ Billion)
40.7
37.3
34.3
FDI Registered (US$ Million)
4,330
3,518
4,439
FDI Implemented (US$ Million)
3,150
2,880
3,000
1.8
2.0
1.7
706,500
737,600
639,251
u
u
u
u
v
v
u
u
u
u
u
u
u
GDP (% y-o-y)
CPI (% y-o-y, e-o-p)
Exchange rate (USD/VND, e-o-p)
International Tourist Arrivals (Million arrivals)

Retail and Services Turnover (VND Billion)
FDI: Foreign Direct Investment
Y-o-Y: year on year; Q-o-Q: quarter on quarter
E-o-p: end of period
CBRE MARKET INSIGHTS | Q3 2014
MONEY FLOW INTO SOUTHERN REALTY

Real Estate Ranked Second in terms of FDI,
9M 2014
Large Invested Real Estate Projects into Southern

Realty
Projects
Source: Ministry of Planning and Investment, September 2014.
Location
US$
million
Investors
Smart
Complex
Thu
Thiem,
HCMC
2,000
Lotte
(Korea)
Vincom
Central Park
HCMC
1,500
VinGroup
(Vietnam)
Amata City
Long Thanh
Long
Thanh
District
530
Amata
(Thailand)
Samsung
HCMC
1,000
Samsung
(Korea)
Ascendas
HCMC
130
Ascendas
(Singapore)
Source: Stockbiz, September 2014.
PORTS IN HCMC REPLACED BY MIXED-USE

PROJECTS
1 Saigon New Port/Central Park

Relocated to Cat Lai Port (2008)
and relocating to Cai Mep Port
Operation stopped: May 2015
Converting to mixed-use projects
Partnered with Vingroup
1 Taken in September 2014.
3
2
2 Khanh Hoi - Nha Rong Port

To be converted in Q1 2016.
Partnered with Vingroup
3 Ba Son Shipyard
Waiting for approval on 1/500 plan
Ba Son site will be auctioned.
4
RALLY STOCK MARKET

Realty Stocks are Following Closely HCMC Market
VNIndex: 640
614
VNIndex:514
Oct-14
Sep-14
Aug-14
Jul-14
Jul-14
Jun-14
May-14
Apr-14
Apr-14
Mar-14
Feb-14
Jan-14
Dec-13
Dec-13
Nov-13
Oct-13
Sep-13
Realty stocks
Source: Stockbiz, FPTS.

5
CBRE DASHBOARD PRODUCED MONTHLY

RE Ho l d i ng & De ve l o p m e nt
Ye ar
Month
Jan
Feb
Mar
Apr
May
Jun
2012
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
2013
Jul
Aug
Sep
Oct
Nov
Dec
2014 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Inde x
RE S erv i c e
HCM C N e w La unch
Inde x
41.20
45.60
44.30
47.20
44.80
45.00
45.20
43.60
45.60
40.52
39.50
37.80
41.76
41.90
46.20
42.21
45.39
42.19
41.30
41.49
41.20
43.37
44.85
45.66
49.17
53.23
58.70
53.50
52.44
51.16
55.10
55.89
53.32
HCM
48.9
54.4
64.4
100.0
96.7
72.2
56.7
54.4
44.4
37.8
25.6
26.7
22.4
24.4
27.8
31.1
26.6
24.3
23.8
21.1
19.8
22.0
32.2
42.0
38.5
52.4
60.0
48.3
49.5
48.6
63.3
61.1
54.0
0
0
648
0
404
0
417
799
330
528
155
207
132
0
277
0
165
895
301
885
1061
391
286
1451
312
0
410
574
714
775
916
356
1381
HN N ew La unc h
M onth
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
HN
920
356
262
616
353
1494
901
300
1514
2397
340
220
772
779
584
134
0
625
622
234
870
1538
470
363
419
200
1000
500
1000
50
928
464
500
Source: Stockbiz, CBRE Vietnam.

6
INTEREST RATES
Lower Lending Rates
25%
Some banks offers lending rates of 7.5%

- 8.5% for the first few months only.
Interest rate
20%
15%
13.1%*
10%
6.8%**
5%
0%
Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov Jan Mar May Jul Sep
2011
2012
2013
Deposit rate (1 year term)
2014
Lending rate
(*) Current lending rate is the average lending rate surveyed at ten banks, applied for home loan only. However, the back-dated numbers are the
average rate which was announced publicly at that point of time, applied for all sectors and all banks . The average lending rate is for reference
only.
(**) Deposit rate is the average deposit rate of a sample of ten banks in which the rates are announced publicly on their websites and can be
tracked backwards.
Source: Smartfinance.
7
CREDIT GROWTH
Target for 2014
Reported Number in August 2014
By the end of August 2014, credit to real estate market has

expanded 9.85% against the beginning of this year, higher
than the credit growth of the whole economy (5.82%) and
other sectors.
Source: State Bank of Vietnam, August 2014.
Poor credit growth is more about sentiment than a real problem.
*All the above articles were retrieved in September 2014.
Pham Hong Hai, Head of Global Banking at HSBC, HCMC

8
RECOVERING CONSUMER CONFIDENCE

Positively Correlated with Stock Market
ANZ Roy Morgan Vietnam Consumer Confidence
Index
Expectation of Vietnam economic condition
Expectation of personal family financially

condition
Source: ANZ - Roy Morgan
INFRASTRUCTURE - HCMC
Progress of Metro Line No. 1
4 Section on Dien Bien Phu Str., near Saigon Bridge

5
3
Sections in District 2
Section on Nguyen Huu Canh Str., near Van Thanh

Expected completion date: January 23, 2017
Opera House
2
1
10
2 Section of Metro Line #1 from Thai Van Lung Str. to Ton Duc Thang Str.
RESIDENTIAL MARKET
HCMC Q3 2014
CONDOMINIUMS FOR SALE

A Busy Ghost Months Quarter
Active Launches even

during ghost month
New launches from 9

projects (3,104 units)
Most of new launches are

from affordable and highend segments
Most of re-launches are

affordable: Giai Viet, Saigon
Town, Topaz Garden, 27
Truong Chinh
Vista Verde (T1,T2) - CapitaLand

695 units, $1,442-1,632/sm
Green Valley (Blk B) PMH
108 units, $1,420-1,610/sm
Lexington (Blk D) NovaLand

276 units, $1,350-1,410/sm
Lucky Palace NovaLand

356 units, $1,179-1,368/sm
SaigonLand Apt. Hoan Cau

144 units, $1,132-1,226/sm
12
Sunview Town (Saphire) Dat Xanh

MARKET
INSIGHTS | Q3 2014
330CBRE
units,
$650-700/sm

New Launches in Q3 2014
8X Plus
Tropic Garden A2
Sunview Town - Sapphire
District 12, 608 units

by Viet Phat Hung Thinh
@ from $630 - $669/sm

by NovaLand
@ $1,389 - $1,636/sm
Thu Duc, 330 units

by Dat Xanh
@ $650 $700/sm
Saigonland Apartment
Binh Thanh, 144 units
by Hoan Cau
@ $1,1132 1,226/sm
Vista Verde T1&T2

Ehome 3 (A1 - A2)

by Capitaland + Thien Duc
Co., Ltd.
@ $1,442 - 1,1,632/sm
Binh Tan, 380 units

by Nam Long
@ from $650 - $850/sm
Lucky Palace
Lexington Residence
Block D

by NovaLand
@ from $1,179 - 1,368/sm

by NovaLand
@ $1,351 - 1,410/sm
Green Valley B
by Phu My Hung
CBRE MARKET INSIGHTS
@ $1,420 - 1,610/sm
13
| Q3 2014

Launch supply in 9 months 2014 surpassed whole year 2013
New Launches by Year
25,000
Unit
20,000
15,000
8,393 units
in 9 months
10,000
5,000
0
2007
2008
2009
2010
2011
2012
2013
YTD 2014
Source: CBRE Vietnam, Q3 2014.
14

Impressive Sales Performance
Sales Performance of New Launches, Units
~ 50% of new launches

sold in the quarter
25% sold
25% sold
43% sold
3,104 units in Q3 2014
High-end
1
Mid-end
Affordable
8,393 units in 9M 2014

15

The Rise of Under planning Developments
Metropolis Thao Dien - District 2

3,000 units
Developer: Thao Dien Investment
Vinhomes Central Park - Binh Thanh

10,000 units
Developer: VinGroup
Lucky Palace - District 6

356 units
Developer: NovaLand
Golf Park - District 9

90 townhouses + 5 villas
Developer: NovaLand
La Astoria - District 2
Condos + Townhouses
Developer: An Gia Hung
Topaz City - P1 - District 8

273 units
Developer: Van Thai
16

Busy Activities in CBD
SG Waterfront D. 1
By Canh Hung Hai Thanh
C.T Plaza Saigon D. 1

By C.T Group
Saigon Plaza D. 1
By Quoc Cuong Gia Lai
The One D. 1
By Bitexco
Lavenue Crown D. 1
By May Flower
Eximbank Tower D. 1
By EximLand
Nguyen Dinh Chieu D. 1

By undisclosed developer
Leman C.T Plaza D. 3

by C.T Group
17

Prices Start Increasing
40%
Primary price changes: Convergent
30%
20%
10%
0%
-10% 2010
2011
2012
2013
2014
-20%
-30%
Secondary price changes: Divergent
6%
4%
2%
0%
-2%
2011
2012
2013
-4%
-6%
Luxury
High-end
Mid-end
Affordable

18
2014
- Affordable: <US$800 psm
- Mid-end: US$800 1,500 psm
- High-end: US$1,500 - $3,000 psm
- Luxury: >US$3,000 psm

Unit Size - Smaller
Condominium Unit Size Change (HCMC)
Second tier
First tier
Before 2012
300 sm
125 sm
110 sm
65 sm
After 2012 55 sm
90 sm
110 sm
250 sm
Before 2012 50 sm
91 sm
110 sm
250 sm
After 2012 48 sm 75 sm
Unit sizes reduced

notably in the Luxury
and High-end
segments
150 sm
90 sm
1BR
2BR
3BR
4BR+
(*): First tier: Luxury and high-end products; Second tier: Mid-end and affordable products

19

Unit Type Higher Proportion of 1-2 bedroom units
Second tier
First tier
Condominium Unit Type Change (HCMC)
Before 2012 3%
After 2012
Before 2012
After 2012
35%
12%
45%
45%
7%
28%
59%
9%
2BR
27%
3BR
Proportion of 1BR
and 2BR types
increased
significantly
14%
27%
63%
1BR
16%
7%
1%
4BR+
(*): First tier: Luxury and high-end products; Second tier: Mid-end and affordable products

20

Positioning Shift to Affordable Segment - HCMC
Total Launched Unit* (HCMC)
1%
1%
27%
37%
Luxury
24%
High-end
31%
Mid-end
48%
31%
Affordable
After 2010
Before 2010
(*): Accumulative launches since 1999, including both completion and under construction units, sold and unsold units.
21

Transactions on the Rise
Sold Unit by Quarter and by Segment, HCMC
3,500
3,000
Sold unit
2,500
2,000
1,500
1,000
500
0
Q1
Q2
Q3
Q4
Q1
Q2
2012
Luxury
Q3
Q4
2013
High-end
Mid-end
Q1
Q2
Q3
2014
Affordable
Sales volume in Q3 continued to increase despite the ghost month

High-end and affordable made up the largest proportions.
22

Unsold Unit Diminishing
Unsold Unit by Year and by Segment, HCMC
21,000
18,000
Unit
15,000
12,000
9,000
6,000
3,000
0
2011
2012
Luxury
2013
High-end
Mid-end
YTD 2014
Affordable
23

High rental yield encouraging investors
Rental yield at selected high-end projects
8.2%
8.1%
8.0%
8.0%
7.8%
7.8%
7.6%
7.7%
7.5%
7.4%
7.4%
7.2%
7.0%
2012
2013
District 7
YTD
2014
Q2 2014
District 2
(*) Selected projects:

District 7: Sunrise City, Sky Garden, Panorama;
District 2: Xi Riverview Palace, The Estella, The Vista
Source: CBRE Vietnam.
24

Future Launches in the next 6 Months
Future Launches in the Next 6 Months
Scenic Valley D2, E1*

District 7
270 units
Expected price: N/A psm
Developer: Phu My Hung
Docklands Saigon
District 7
365 units
Expected price: N/A
Developer: Paujar
TOPAZ CITY P1
District 8
273 units
Expected price: US$700 psm
Developer: Van Thai
Ehome 6
District 9
500 units
Expected price: N/A psm
Developer: Nam Long
SUNVIEW TOWN A3
Thu Duc
330 units
Expected price: ~US$620 psm
Developer: Dat Xanh Group
25

Outlook for HCMC
More stock expected to be released till year-end to capture slowly revived
purchase momentum
Increasing sales volume pushing prices up.
Buy-to-let investors back to the market.
The East of HCMC continues to be the most sought-after area thanks to

improving infrastructure.
26
COMMERCIAL MARKETS
HCMC Q3 2014
OFFICE
Limited New Supply
AN PHU PLAZA
New Supply by Year, HCMC
EMPRESS TOWER
TIMES SQUARE
350
GFA (000 sm)
300
250
200
PRESIDENT PLACE
150
SAIGON ARIPORT
PLAZA
PICO SAIGON
PLAZA
LIM TOWER
100
50
0
MB SUNNY TOWER
Grade A
Grade B
28
OFFICE
Rent Up, Vacancy Down
AVERAGE ASKING RENT
(US$/sm/month)
GRADE B
VACANCY RATE
(%)
GRADE A
Q3
Q3
2014 Q2
2014 Q2
Q1
Q1
Q4
Q4
2013
2012
2011
GRADE A
GRADE B
Q3
2013
Q2
Q3
Q2
Q1
Q1
Q4
Q4
Q3
2012
Q2
Q3
Q2
Q1
Q1
Q4
Q4
Q3
2011
Q2
Q1
Q3
Q2
Q1
$35 $30 $25 $20 $15 $10 $5
$0 $0
$5 $10 $15 $20 $25 $30 $35
50%
40%
30%
20%
10%
0%0%
10%
20%
30%
40%
50%
29
OFFICE
APAC Rental Growth
Better than expected
20%
In line with expectations
Lagging behind expectations
15%
10%
5%
0%
-5%
Rental Growth, H1 2014
Brisbane
Mumbai
Hanoi
Melbourne
Hong Kong
Tokyo
Sydney
Beijing
Guangzhou
Shanghai
Bangkok
Auckland
Seoul
Taipei
Kuala Lumpur
New Delhi
Ho Chi Minh City
Singapore
Manila
-10%
* 2014
Forecast Rental Growth,
(*) Forecasted at the end of 2013

Source: CBRE Research, August 2014.
30
OFFICE
Very Restricted New Supply -> Limited Leasing Options
Grade A & B Net Absorption, Q3 2014
50,000
NLA (sm)
40,000
Net absorption per

quarter 3-year average
30,000
20,000
10,000
0
Q1
Q2
Q3
Q4
Q1
Q2
2011
Q3
Q4
Q1
Q2
2012
Q3
Q4
2013
Grade A
Q1
Q2
Q3
2014
Grade B
31
OFFICE
Tenant Categories
By Industry, Q3 2014
By Nationality, Q3 2014
Manufacturing
29%
US
6%
19%
6%
Vietnam
7%
Hong Kong
Logistic
Technology/Electronic
7% 10%
Europe
29%
Education
Sourcing
6%
16%
Finance & Consulting Services
23%
19%
Japan
23%
Others
Others
By Size
2013
23%
37%
30%
<100 sm
10%
100-300 sm
YTD 2014
17%
0%
10%
35%
20%
30%
40%
28%
50%

Number is calculated based on CBREs enquiries only
60%
32
70%
19%
80%
90%
300-1000 sm
100%
>1000 sm
OFFICE
Tenant Preferences
2%
District 1
41%
District 3
42%
District 7 and Tan Binh
2014
9%
17%
3%
15%
58%
18%
2012
Decentralisation trend to new,
good quality non-CBD
buildings
15%
5%
75%
Others
2013
Rents softening in centralised
areas => opportunities to
upgrade or relocate to core
CBD
Limited centralised supply

resulting in decentralisation
and consolidation outside
CBD
The percentage is based on net absorption recorded in each district per year
33
OFFICE
Future Supply
VIETTEL OFFICE & TRADE

CENTER
285 Cach Mang Thang Tam, D10
GFA: 65,971 sm
LIM TOWER 2
158 Vo Van Tan, D3
GFA: 20,467 sm
Estimated completion:
Q1/2015
Estimated completion: Q2/2015

VIETCOMBANK TOWER
5 Melinh Square, D1
GFA: 55,000 sm
34
SSG TOWER
561A Dien Bien Phu St, Ward 25,
Binh Thanh.
GFA: 37,434 sm
OFFICE
HCMC Future Supply
New Supply by Year, HCMC
GFA (sm)
2,000,000
Total 332,538 sm GFA added
1,500,000
1,000,000
500,000
0
2012
2013
2014
2015f
Grade B
2016f
2017f
Grade A
Limited supply in the last quarter of 2014

3 large projects completed in 2015, most of which are pre-committed or partially
owner occupied
Total supply is projected to reach 1.4 mil sqm by Q4/2015
35
OFFICE
Outlook for HCMC
Average rent remain stable till the end of the year.
The vacancy rate will fluctuate (slightly) but still on an overall downward
trend.
Steady demand for office spaces on the back of positive market condition.
Budget is still the matter.
Limited new supply will come from large scale, mixed use projects and from
those projects developed partly for owner- occupation.
36
RETAIL
Saigon Tax Trade Center to a Iconic Mixed-Use Development
Expect to open in 2018
40-storey skyscraper
Shopping centre:
5 floors + 1.5 basements
Retail GFA: 40,159 sm
Officially closed in
September 25, 2014
37
RETAIL
New Openings
New Openings by Trade, Q3 2014
100%
* Opens a 1,200 sm
flagship store in Vincom
Center B in Sept 2014
% in terms of NLA, sm
80%
60%
* Open soon in Crescent Mall

in November 2014
40%
20%
0%
Q2 2014
Others
Kids
F&B
Q3 2014
Home dcor
Cosmetics
Fashion & Accessories
* 1st store in HCMC Vietnam

in Dong Khoi Street, District
1, in Q3 2014.

38
RETAIL
Rent and Occupancy Improved in CBD
AVERAGE ASKING RENT
(US$/sm/month)
NON-CBD
VACANCY RATE
(%)
CBD
Net absorption (NLA, sm)
Q3
2014 Q2
Q1
Q4
2013
Q3
Q2
Q1
Q4
2012
60,000
20%
40,000
14%
20,000
8%
2%
2012
Q3
Q2
2013
2014
(20,000)
-4%
Q1
110 90 70 50 30 30 50 70 90 110
Net Absorption (sm)
Vacancy Rate (%)

39
RETAIL
Future Supply
Expect to Complete/ Open in 2014 - 2015
Sunrise City Phase 2

District 7
GFA: 23,739 sm
4 floors
Topped out
Thao Dien Pearl

District 2
GFA: 20,400 sm
3 floors
Completed. Leasing
40
SC VivoCity
District 7
GFA: 72,000 sm
1 basement, 5 floors
Fitting out. Leasing.
RETAIL
Future Supply
Expect to Complete/ Open in 2014 - 2015
Lim Tower 2
District 3
GFA: 6,519 sm
5 floors
Underconstruction.
Viettel Office &

Trade Center
District 10
GFA: 15,025 sm
4 floors
Underconstruction.
Leasing.
Lman CT Plaza
District 3
GFA: 12,000 sm
6 floors
Underconstruction.
Parkson
SSG Tower
Binh Thanh District
GFA: 20,500 sm
6 floors
Under-construction.
41
RETAIL
APAC Development Pipeline
Development Pipeline, Q2 2014
2015
1,800
2014
1,600
1,400
1,200
1,000
800
600
400
42
Wellington
Auckland
Taipei
Perth
Hong Kong
Adelaide
Mumbai
Brisbane
Jakarta
Melbourne
Ho Chi Minh City
Source: CBRE Research Q2 2014.
Manila
Singapore
Sydney
Shanghai
Guangzhou
Hanoi
Shenzhen
New Delhi
Kuala Lumpur
Beijing
Bangkok
200
Tokyo
Development Pipeline (000 sm)
2,000
RETAIL
Outlook for HCMC
F&B and supermarket are necessary elements in any modern shopping
center
Street front shops and boutiques still maintain their uniqueness and
attractiveness
Retail space in the CBD is in high demand in spite of high rents due to
big retailers preferences, particularly new entries.
Luxury shopping centers should create better tenant mix and offer more
professional services to serve sophisticated and discerning customers.
43
SERVICED APARTMENTS
Vacancy Rate/Asking Rent
Achieved Rent 2-3 bedrooms (US$/month)
$4,100
$2,600
Rents (US$/month)
Rents (US$/month)
Achieved Rent 1 bedroom (US$/month)

$2,400
$3,600
$2,200
$2,000
$3,100
$1,800
$1,600
$2,600
Q4/2013 Q1/2014 Q2/2014 Q3/2014

Grade A 1BR
Grade B 1BR
Q4/2013 Q1/2014 Q2/2014 Q3/2014

Grade A 2-3BR
Grade B 2-3BR
Both grades stopped the downwards trend in pricing with minor improvement
(up 0.5% for Grade A and 0.3% for Grade B) due to better absorption.
Larger units tended to revise the rent down in order to retain tenants.
44
SERVICED APARTMENTS
Vacancy Rate/Asking Rent
Vacancy Rate (%)
30%
25%
20%
15%
10%
5%
0%
2012
2013
Current Vacancy (%)
2014
Long-term Average
Q3 market-wide vacancy matched the long-term average line.
45
SERVICED APARTMENTS
Occupiers Sentiments
CBRE Enquiries by Location
9M 2014
2013
2012
2011
2010
0%
20%
District 1
District 7
40%
60%
District 2
Binh Thanh
46
80%
100%
District 3
Others
SERVICED APARTMENTS
Occupiers Sentiments
CBRE Enquiries by Housing Budget
Q3/2014
Q2/2014
Q1/2014
Q4/2013
Q3/2013
Q2/2013
Q1/2013
0%
20%
US$0 -$1000
US$4000 - $6000
40%
60%
US$1000 - $2000
US$6000+
80%
100%
US$2000 - $4000
Source: CBRE Vietnam, Q3 2014, based on CBREs enquiries.
Emergence of deep-pocket enquiries (US$6,000 - $10,000),

up 2.5 times q-o-q.
47
48
SERVICED APARTMENTS
Buy to let trend
In order to attract more buyers, developers of newly
built building in Hanoi are also offering more
incentives, including being prepared to take on newlybought apartments and putting them out to lease.
Vietnam Investment Review
SERVICED APARTMENT
Outlook for HCMC
Average rent will remain flat
The vacancy rate will fluctuate slightly due to limited major new supply
Shift from Asian tenants back to the Westerners.

The first sign of deep-pocket tenants in the last 3 years.
Increasingly fierce competition from the buy-to-let alternatives and a possible
drop in number of expatriates working in HCMC.
49
STORY ON THE MARKET, Q2 2014
KHU T D N
DEVELOPMENT SITE
AEON BINH TAN
HANOI TIMES TOWER(*)
INDOCHINE PARK TOWER
Address: International Hi-tech
Address: Van Phu, Ha Dong, Hanoi
Address: 1 Le Quy Don, D1, HCMC
Scale: 1.3 ha
Scale: 55 units serviced apartments
Amount: $15.4 million
Price: $14.3 million
Investor/Lender: Ocean Bank
Seller: Mulpha International Bhd
Owner: Petro Vietnam
Buyer: Lemongrass Master Fund
Healthcare Park, Binh Tan, HCMC

Scale: 4.7 ha
Price: $8.7 million
Seller: Aseana Properties JV Hoa Lam
Buyer: Aeon Mall
*Refinancing transaction
Source: RCA, retrieved July 1, 2014
50
STORY ON THE MARKET, Q3 2014

DIAMOND PLAZA
CORNER STONE
THE ESTELLA
METRO CASH & CARRY
Location: HCMC
Location: Hanoi
Location: HCMC
Location: Vietnam
Seller: POSCO
Seller: VIB
Seller: Tien Phuoc
Seller: Metro Cash & Carry Vietnam
Buyer: Lotte Shopping
Buyer: Daibiru
Buyer: Keppel Land
Buyer: Berli Jucker
Property type: Retail
Property type: Office
Property type: Dev. Site
Amount: n/a
Amount: $877 million
NBB GARDEN III
NBB GARDEN II
CITY GATE TOWERS
OCEAN MART
Location: HCMC
Location: HCMC
Location: HCMC
Location: Vietnam
Seller: NBB
Seller: NBB
Owner: NBB
Owner: Ocean Group
Buyer: CREED
Buyer: CREED
Refinanciar: CREED
Buyer: Vingroup
Amount: n/a
Source: RCA, retrieved September 29, 2014 and newspapers.

51
INVESTMENT
Thai Groups Expand Business in Vietnam
METRO CASH & CARRY
Location: Vietnam
Seller: Metro Cash & Carry Vietnam
Buyer: Berli Jucker
Amount: $877 million
52
INVESTMENT
Vietnam keeps appealing to Korean investors
BUYERS
SELLERS
Taiwan
Singapore 2%
Domestic
Thailand
4%
Hong Kong
8%
Japan
Offshore
4%
Korea
Malaysia
Korea
13%
Netherlands
Domestic
63%
Japan
6%
Offshore
Singapore
(blank)
Taiwan
Netherlands
5%
Malaysia
3%
Offshore
8%
Korea
13%
Domestic
54%
Japan
2%
Hong Kong
15%
Thailand
Data recorded during the period of 2011- YTD 2014
Source: RCA, retrieved Sep 2014
53
At CBRE, we live and breathe

the business of real estate
Every week NEWSPAPER UPDATES
Every month DASHBOARD
Every quarter QUARTERLY REPORT
For more information regarding this presentation please contact:

CBRE Vietnam Co., Ltd.
Research & Consulting
T +84 8 3824 6125
F +84 8 3823 8418
Email.research.vietnam@cbre.com
2014 CBRE (Vietnam) Co., Ltd. This report has been prepared in good faith and with due care by CBRE (Vietnam) Co., Ltd. We obtained some of the
information above from sources we believe to be reliable. However, we have not verified the accuracy of the information which we obtained from other
sources and make no guarantee, warranty or representation about it. We include projections, opinions, assumptions or estimates which are made with
careful consideration of factors known to us for example only, and they may not represent current or future performance of the market. This information is
designed exclusively for use by CBRE clients, and cannot be reproduced without prior written permission of CBRE.

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HCMC MARKET INSIGHTS Q3 2014

Tuesday, October 07, 2014

VIETNAM ECONOMIC OVERVIEW

Export (US$ Billion)

Import (US$ Billion)

FDI Registered (US$ Million)

FDI Implemented (US$ Million)

International Tourist Arrivals (Million arrivals)

CBRE MARKET INSIGHTS | Q3 2014

MONEY FLOW INTO SOUTHERN REALTY

Large Invested Real Estate Projects into Southern

Source: Ministry of Planning and Investment, September 2014.

Source: Stockbiz, September 2014.

CBRE MARKET INSIGHTS | Q3 2014

PORTS IN HCMC REPLACED BY MIXED-USE

1 Saigon New Port/Central Park

1 Taken in September 2014.

2 Khanh Hoi - Nha Rong Port

CBRE MARKET INSIGHTS | Q3 2014

RALLY STOCK MARKET

Source: Stockbiz, FPTS.

CBRE MARKET INSIGHTS | Q3 2014

CBRE DASHBOARD PRODUCED MONTHLY

Source: Stockbiz, CBRE Vietnam.

CBRE MARKET INSIGHTS | Q3 2014

Some banks offers lending rates of 7.5%

Deposit rate (1 year term)

CBRE MARKET INSIGHTS | Q3 2014

By the end of August 2014, credit to real estate market has

Poor credit growth is more about sentiment than a real problem.

*All the above articles were retrieved in September 2014.

Pham Hong Hai, Head of Global Banking at HSBC, HCMC

CBRE MARKET INSIGHTS | Q3 2014

RECOVERING CONSUMER CONFIDENCE

Expectation of Vietnam economic condition

Expectation of personal family financially

CBRE MARKET INSIGHTS | Q3 2014

4 Section on Dien Bien Phu Str., near Saigon Bridge

Section on Nguyen Huu Canh Str., near Van Thanh

CBRE MARKET INSIGHTS | Q3 2014

CONDOMINIUMS FOR SALE

Active Launches even

New launches from 9

Most of new launches are

Most of re-launches are

Vista Verde (T1,T2) - CapitaLand

Lexington (Blk D) NovaLand

Lucky Palace NovaLand

SaigonLand Apt. Hoan Cau

Sunview Town (Saphire) Dat Xanh

CONDOMINIUMS FOR SALE

Sunview Town - Sapphire

District 12, 608 units

District 2, 207 units

Thu Duc, 330 units

Vista Verde T1&T2

District 2, 695 units

Binh Tan, 380 units

District 6, 356 units

District 2, 276 units

CONDOMINIUMS FOR SALE

Source: CBRE Vietnam, Q3 2014.

CBRE MARKET INSIGHTS | Q3 2014