Weekly Newsletter

A42
Vietnam Real Estate Week 1, August

The first weekly electronic newsletter issued to registered members, approximately 80,000 reads per month
joining to develop the newsletter VietRees, a member of

A. GENERAL MARKET INFORMATION

Market hot news
It is not time to “borrow Thanh Nien Cheap offices attract customers KT & DT
CONTENT
money for home buying” 27 July, 2008 in the inflationary period 01 Aug, 2008
A. General Market
Over this month, transactions of real estate brokers have In the current context, many enterprises thought of Information completely
increased by 20%. Prices of real estate in big cities such cutting down on fixed costs, in which leasing office presents the whole
as Ha Noi, Ho Chi Minh city have gone down, even with a is the first expenditure they must pay attention to, market with hot news,
decrease of over 60% in some areas. With regard to the especially with small enterprises. As of now, the foreign investment, real
land and apartments in District 7, Nha Be, Binh Chanh, supply of offices for rent in the central area are estate company, real
their current prices are more attractive than 5 months ago. limited, rental prices are always pushed high. As a estate new developments
The land price of Thai Son – Nha Be project has gone result, grade A office buildings are searched for and all necessary legal
down to 25 millions VND from 9 millions VND/m2, Him lease by only multinational companies, big news.
Lam – Nam Khanh apartment prices have gone down to corporations and foreign representative offices. B. Research Results &
26 millions VND from 12.8 millions VND/m2. Prices have Compared with a few years ago, prices of grade A Statistics provides
decreased by 15% not only in the areas that experienced and B offices have doubled, fluctuating from over market statistics including
“price fevers” before but also in other areas such as Go 40 USD to nearly 70 USD/m2. Many enterprises pricings of developments,
Vap District, District 12. who cannot afford the expenses choose a solution market prices and
According to experts, because of a significant decrease in of moving to cheaper offices at prices of 10 - 15 construction materials
real estate prices, many people have renewed their USD/m2. prices, real estate overall
interest in real estate. It is this fact that makes more Cheap offices for lease are mainly apartments statistics, newly
transactions on the market. This is a good time for people built for living, civil buildings or houses are announced developments
to buy a home for living or investing without depending on renovated from workshops, etc. Therefore, the every week and month,
bank loans. traffic systems are not built synchronously and are approved developments
Additionally, domestic real estate enterprises are not as convenient as other high end buildings. for construction and
continuously receiving very attractive cooperation Some real estate investment companies have VietRees’ forecasts on
proposals from foreign investors. Foreign enterprises shifted to renovate and upgrade workshops to the market and VN-Index
often aim at real estate projects that have gotten into cheap offices for lease to meet customers’ needs. stats.
financial difficulties. Moreover, they also buy single Offices of this type are mainly located in the belt C. Utilities & Specialty
apartments because the risks are fewer than investing in area, the edge of city, newly established or suburb News consists of useful
new projects. Foreign investors believe that development districts. selected articles, reports
cycle has peaks and troughs. Therefore, when real estate Real estate business circle judges that the market and analysis.
prices have such decreases, foreign investors consider segment of cheap offices will become eventful in
this fact as a one-of-a-kind chance for their investment, the near future. However, the main difficulty is that
and they buy the projects at this time to “collect” profit in rapidly increasing prices of construction materials FREE REGISTER FOR
future. makes investing in projects like this less attractive. WEEKLY NEWSLETTER
Please send your email to
Real estate foreign investment marketnews@VietRees.com
or download the
Three Chinese corporations Vnagency Substantial FDI into real VietRees newsletter on website.
want to invest into Thai Nguyen 29 July, 2008 estate in HCM city 01 Aug, 2008
Three big corporations of Triet Giang commercial Real estate field is becoming “a hot spot” ADVERTISING
partnership (China) including Shan Shan, Sun Khun and attracting up to 70% of total foreign investment
T: (84 8) 948 5574
Hong Huy have signed a memorandom with Thai Nguyen into Ho Chi Minh City.
E: properties@VietRees.com
Provincial Department of Planning and Investment about According to foreign enterprises, Vietnam real
their investment into constructing an industrial and estate market has great potential, especially the
ecological city on a site of 1,500 – 2,000 hectares with segment of high-end dwellings and the segment of INTRODUCTION OF
total capital of $2 billions USD in Thai Nguyen. average-income earners with medium sizes. Not OTHER PUBLICATION
This project includes categories such as: science and only investors from Southeast Asia, but also
Vietnam Property
technology park, industrial zone, trade – entertainment investors from the Middle East have begun to
Investment Newsletter
area and villa area, etc. “keep their keen eyes” on the Vietnamese market.
issued every month.
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VietRees – Vietnam Real Estate
Real estate foreign investment
Phu My Hung to develop 2 new
apartment buildings
Phu My Hung joint venture Co. (PMH) states that Garden Plaza II
and The Panorama apartment areas belonging to Kenh Dao area –
Phu My Hung urban area have completed their work progress on
schedule after over 18 months of implementing construction.
Garden Plaza II includes 38 apartments, 4 stores, and The
Panorama high-class apartment area includes 277 apartments and
50 stores. The total cost of these 2 projects is 80 million USD.
Sacoreal opens subsidiary company
th
On July 26 2008, Sai Gon - Thuong Tin Real Estate joint stock
(Sacomreal) officially opened Thuong Tin Real Estate Service
trading Co., Ltd (one member) which is also an up-to-standard real
estate trading floor at 278 Nam Ky Khoi Nghia Str., Dist. 3, HCMC.
This trading floor offers a full range of functions such as: selling,
transferring, broking, marketing, price assessing, auctioning, real
estate management service, consulting on legal procedures –
design, establishing real estate projects and finance…
Selling houses on installment plan
within 10 years at Can Tho
568 Traffic System Construction Co. has developed the project of
selling houses on ten-year installment plans for all customers at
Phu An urban area, Phu Thu Ward, Cai Rang Dist., Can Tho City.
Accordingly, customers will directly pay the company money, not
via bank. When signing formal contracts, customer will prepay 50%
of house value, the remaining value of 50% will be paid on an
installment plan within a maximum period of 10 years at monthly
interest rate of 1.5%.
Real estate developments news
2.250 billion VND invested in Da Lat
Cables and Telecommunication Materials Corporation has just
started construction of Sacom Resort project on a site of 270
hectares with total investment of 2,250 billions VND at Tuyen Lam
th
tourist site, Da Lat City, Lam Dong province on July 28 2008.
The project is expected to be completed in 2011, including an 18-
hole golf court, 4 - 5 star hotel, 400 villa resort, conference center,
entertainment area. Ekistics Co. (Canada) takes responsibility for
consulting, designing and project planning.
PVFC Land assigned to invest in Duc
Giang oil and gas - new urban area
Ha Tay Provincial People’s Committee has assigned Vietnam Gas
and Oil Finance Real Estate Joint-Stock Company (PVFC Land) to
invest and carry out the project of Duc Giang oil and gas urban
area at Duc Giang commune, Hoai Duc suburban district.
The urban area has total area of 61 hectare and is oriented to be a
modern urban area with full public services, schools, green-tree,
offices for lease, commercial zones and entertainment areas.
Danang: 225 Huyen Tran Cong Chua - T: (84) 511 836 216 * HCMC: 390 Nguyen Cong Tru, D.1 - T: 8 821 7509 * Hanoi: No.6-1D Trung Yen New Town, Caugiay - T: 4 783 1598
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This weekly newsletter is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning or interested in Vietnam real estate market changes.
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website www.VietRees.com for further Vietnam Real Estate information.
www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 2
Ha Noi Moi Investment in four urban area projects in VietRees
25 July, 2008 Ha Tay approved 28 July, 2008
On July 25th 2008, Government granted investment permits to
urban areas including Thach Phuc, Thach That, Chuong My and
Quoc Oai trade - urban area which are invested by Nam Cuong
Co., Ltd. People’s committee of Ha Tay province taks responsibility
for investigating financial ability of the Company and provide the
Company with guidelines on executing these projects in
accordance with the laws in force.
BDS & TS Nha Viet opens a new trading floor TheSaiGonTimes
28 July, 2008 28 July, 2008
Nha Viet Investment-Construction-Trading Joint Stock Co. opened
its new real estate floor at 3A-28 provincial road 10, Pham Van Hai
commune, Binh Chanh suburban district, HCMC in the morning of
July 28th 2008. Business functions include real estate brokerage,
real estate consulting and price assessment, design and
construction, consulting on real estate legal procedures...
The leading products of this trading floor are workshop land and
residential area projects at Cau Xang, Tan Duc, Vinh Loc…
VietRees C.T Group constructs commercial zone at TheSaiGonTimes
30 July, 2008 Binh Duong 31 July, 2008
th
Morning July 30 2008, C.T Group started construction of a 10-
hectares C.T Song Than Complex at Binh Hoa Commune, Thuan
An Suburban District, Binh Duong Province with its investment of
approximately 34 million USD. The project comprises trading
center, depot and high-class catering area. This project is
scheduled to be put into operation in June 2009.
Besides, C.T Group has just put its 10-storey C.T Plaza Building (at
60A Truong Son Street, Tan Binh District, HCMC) into operation.
ThanhNien Khanh Hoa: Planning Cam Ranh Bayana VietRees
26 July, 2008 Resort 29 July, 2008
Khanh Hoa Provincial People’s Committee has ratified the planning
of Cam Ranh Bayana Resort on a site of 84,472m2 at Cam Ranh
Northern Peninsula, Cam Lam suburban district. This project is
invested by joint-venture between Kim Son Housing Business
Joint- Stock Company, The Minh Construction Co.,Ltd, Xuan Nam
Tourism - Trade Co., Ltd and Tan Thinh Co., Ltd.
The tourism area includes 3 subdivisions: service area, resort area
and Technology Infrastructure Services area.
KT & DT Starting construction of M-Star Plaza high- Tuoi Tre
30 July, 2008 class apartment project 01 Aug, 2008
Dat Xanh Real Estate Construction Service Joint – Stock Company
has started construction of M-Star Plaza high-class apartment
project at Highway 13, Ward 26, Binh Thanh District, HCMC. The
project includes 2 basements, mezzanine and 18 storeys with 203
apartments of 84.55 to 297.4m2. In addition, there is also a
swimming pool area, trading center, library, restaurant, park. The
project has a total investment of 750 billions VND and is scheduled
to be completed after 22 months.
 VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 3

B. RESEARCH RESULTS & STATISTICS

Total FDI till July, 2008 Apartments and development lands prices
[

Updated on information from ACBR, Van Phat Hung, Hung

In July, 2008 the Thinh, Phuc Duc, Tuoi Tre Newspaper and developers
whole nation has 167 (VietRees gathered by direct surveys), listed prices can be
foreign investment original prices or transfer prices at current or at one week prior
projects licensed with from the date this newsletter is issued.
total registered capital Area Price (million
of 13.5 billions VND, District
(m2) VND/m2)
+/-
raising total new-level Apartment building – HCMC
projects of the whole An Khang 2 103 27 +
nation from the early Binh Minh 2 108 18.5 +
year to July 22nd,
Constrexim Square 4 81 25
2008 up to the number
of 658 projects with Hung Vuong Plaza 5 121 27 -
total registered capital Hoang Anh 2 7 247 16 +
of 44.5 billions USD. Panorama 7 164 44.5 +
Phu My 7 82 22.5 +
Hiep Phu 9 76.5 14 -
The number of hotel rooms in VN has increased by over 200% Dat Phuong Nam BTH 140 25.5 -
Saigon Pearl BTH 86 40.5 -
Within the past 3 years, total hotel rooms in Viet Nam has gone up by 210%.
New Saigon NB 98 20.5 -
Compared with 2005, despite such a strong increase in the number of hotel
Botanic Tower PN 93 37.5 +
rooms, average room capacity has also increased by 142%.
My Long TD 73 15
Remarkably, the number of guests on business trips has risen by over 5% on Development land lots – HCMC
the previous 2 years. Dong Thu Thiem 2 132 11.5
Most of guests at 5 star hotels are businessmen who bring nearly 40% of the Huy Hoang 2 160 26 -
total revenue for these hotels. Meanwhile, 4 star hotels have received mainly The Ky 21 2 160 20
tourists. Him Lam Kenh Te 7 150 34
Hanoi is the most expensive destination with regard to average room prices Phu My 7 210 19
and Da Lat (Lam Dong) has the lowest room prices among surveyed places. Phu Xuan 7 126 10
Eden 9 300 12
According to Vietnam National Administration of Tourism, until June, 2008
584 - Tan Kien BC 80 7.5
the whole nation has nearly 9,350 places for tourists’ accommodation with
Thai Son 2 NB 140 11 -
over 184,830 rooms. In which, there are 25 five-star hotels, 85 four-star
Van Hung Phu NB 154 10
hotels and 166 three-star hotels.
Apartment building - Ha No
It is forecasted that until after year 2010, Vietnam will still lack high-class Vimexco CG 151 26
rooms to serve tourists at peak tourist seasons. Thai Thinh DD 114 27.5
Source: Grand Thornton Viet Nam – Edited by VietRees Hoa Lu HBT 106 35
Linh Dam HM 68 16 -
Insightful real estate market information and research Happy House LB 94 16
Me Tri Thuong TL 73 18
Please contact VietRees, a professional real estate consultancy and My Dinh TL 122 14 -
research company, specializing in understanding market demands and Nang Huong TX 68 14
researching existing customers, target customers and potential customer for Development land lots Province
all types of real estate. On this base, VietRees will offer construction My Phuoc BD 100 2
companies consultancy on perfect and successful plans of marketing and Nam Can Tho CT 100 4 +
business in order to best meet and satisfy customers’ demand. VietRees HUD DNI 300 2
also performs researches on feasibility, competitiveness, marketing Tam Phuoc DNI 250 2.6
Long Hau 3 LA 100 7
communications and prices of real estate.
Tan Do LA 105 2.5

Announced prominent real estate developments during the last 4 weeks

Week 2, July 2008 Week 3, July 2008 Week 4, July 2008 Week 1, Aug 2008
HCM 5-star hotel - trade center Thang Long Tower (Tan Binh Golden Hill Complex (Dist.1), The M-Star Plaza (Binh Thanh), C.T Plaza
City (D.1) Dist.), Rach Lao Resettlement Splendor apartment buidling (Go (Tan Binh)
Apartment Buidling (Dist.8) Vap), Residential area 7/5 (Dist.9),
Thu Duc Sofware Center (Dist.2)
Other An Tay UA (B.Duong), Ben Thuan An Ecotourism Site Ocean Valley Tourism Site Sacom Resort tourism site (L.Dong),
Areas Luc RA (L.An), Hue “Nha (P.Quoc), Phu Yen Toursim (P.Thiet), Nam Ha Dong new Cam Ranh Bayana Resort (K.Hoa),
Ruong” Ecotourism Area Complex - Hon Ngoc Bai Tram urban area (H.Tay) Duc Giang Oil and Gas UA (K.Hoa),
(Hue), Trung Hung New UA Eco tourism (P.Yen), Da Sa Canh Tien Villa Zone (B.Dinh), C.T
(H.Noi) Ecotourism Site (L.Dong), Vinh Song Than Complex (B.Duong), Lung
Yen Plaza Trade Center (V.Phuc) Xuan Ecotourism-Urban area (H.Binh)

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This weekly newsletter is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning or interested in Vietnam real estate market changes.
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 VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 4

Approved prominent real estate developments in Ho Chi Minh City

June: Vinh Loc B RA (D. Binh Chanh), Van Phuc Gia Company HA (H.Mon), 38,4ha July: Complex W.11 (Minh Phu Co, D.3), Vietnam International
RA (D.2), Hung Phu Company HA (D.9), Thu Thiem Software Park (D.2), An Phu University Town (VIUT) (H.Mon D.), Suburb Area at Thanh My Loi
Dong Ward – De Tam Company HA (D.12), Truong Tho Ward – Tin Nghia Company ward (Quang Trung Co, D.2), Horizon Place Complex (D.4),
AP (T.Duc D.), Office Building – Conference Center 31 Le Duan (D.1), Hoang Phuoc Descon AP (D.2), Hoang Phuc Co. Commercial (D.6), Phu Xuan
Company HA (D.12), P.13 584 Company AP (B.Thanh D.), Hoa Thanh Ward AP Ward - Anh Tuan Co. HA (N.Be D.), Ward 4 Commercial (D.4), Le
(T.Phu D.), Commercial Building 01W Dien Bien Phu (B.Thanh D.), AP For Reurban Minh Xuan Ward HA (B.Chanh D.), Office Building W.13 (B.Thanh
147 Nguyen Chi Thanh – AP and Commercial Building 258 Le Hong Phong (D.5), D.), Office 26 Nguyen Thi Dieu (D.3), Phuoc Long A Ward – Phuc
Hiep Binh Phuoc Ward AP (T.Duc D.), Tan Chanh Hiep Ward HA (D.12) Long Co. HA (D.9), Co Giang Ward – Duc Khai Co. Complex (D.1)
*RA: Residential Area, AP: Apartment Building, HA: Housing Area, RuA: Reurban Area, TA: Tourism Area, IA: Investment Area, UA: Urban Area.

Real estate market forecast

* The situation of real estate market For Sale during the last 6 months shows that prices are maintaining the current downturn. Many
properties on consignment have not been asked to be purchased. According to VietRees, the reason is that the instability of market was
exposed clearly and buyers’ insecurity became worse when they got puzzled about the real value of real estate and kept expecting further
price decreases. Prices of high-end apartment buildings have been plummeted and prices of ground base in some areas have gone up too
much higher than the real value.
* The current time has been considered to be difficult for many real estate companies because the market has been selecting and
promising a lot of new changes. Real estate enterprises are getting in trouble because bank loans for house purchase have tightened. One
of the steps taken by these enterprises is to cut down every cost and expand the progress, delay or stop implementing projects, and wait
for a better market to deploy. In the market, there is a tendency that some enterprises have shifted towards investing in other fields to
maintain their operation and overcome this current period.
* According to VietRees, individual investors or those who are in real demand and have available capital but bank loans can re considered
house buying at this time. Real estate enterprises should reconsider and choose the projects of high feasibility and efficiency to implement.
It is advisable to regard customers as “the core” and guarantee their interests; investment portfolio should aim at customers who have real
demands and avoid focusing on segments of secondary investors. Besides, it is necessary for enterprises to raise capital from many
different sources including joint venture with foreign partners. However, in reality, raising capital from joint venture with foreign porters
currently also has difficulties because they are more punctilious about choosing, evaluating and considering than before. Investors must be
more professional when conducting any negotiation with these foreign partners.
* Note: Information on market forecast is only updated every 4 periods ( after one month) by VietRees

Construction materials market prices report Construction materials market prices

Most of construction material types in HCMC market has Type of goods

Unit Price (VND)
begun to raise prices and formed a new price range, with (Source: HCMC Department of Finance)
average increases of 10% - 30%. In which, coil steel of all Ha Tien Cement PCB40 50kg pack 71,000
types has an average price increase of 1.5 - 2 billions
VND/ton, up to 22 - 23 million VND/ton, depending on area Holcim Cement PCB40 50kg pack 70,000
and portage distance. Concrete sand through screen Chinfon Cement PCB40 50kg pack 67,000
washing & 1-2 cm rock have increased by 10,000 VND/block, Steel bloom D6 kg 21,000
facing block has slightly risen. Floor /wall facing tile of Dong
Steel bars D10 bar 495,000
Tam, Viglacera…has a significant price increase of 10 - 30%.
Sanitary faience, wall paint, electric equipments and other Binh Minh plastic pipe 21x1,6mm in diameter d/m 5,170
interior materials have average price increases of 20 - 30%, Binh Minh plastic pipe 21x1,6mm in diameter d/m 7,260
varying with types and trademarks. Meanwhile, cement price B40 net 1,2m in height, 3mm in diameter d/md 39,600
has remained unchanged in comparison with June and has
5 mm white glass d/m2 115,000
dropped considerably against retail prices of May. The
reason for price increases of construction materials is mainly Ceramic Vitaly brick 25x40 ( type 1 bright color) d/m2 62,400
to offset carriage charge. Ceramic Vitaly brick 25x40 ( type 1 dark color) d/m2 64,400
However, according to forecast, sales will go down in the Stone 1x2 d/m3 260,000
next 8 months. It is partly due to the rain season but mainly
Hollow brick VND/brick 1,200
due to the fact that many big projects of the State and
enterprises have temporarily postponed in order performing Lining brick 40x40 – Dong Tam VND/barrel 135,960
the policy of tightening public expenditure. Hem brick 13x40 – Dong Tam VND/barrel 165,000
Edited by VietRees Toilet lining brick 33x33 – Dong Tam VND/barrel 173,250

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This weekly newsletter 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 – Vietnam Real Estate
C. UTILITIES & SPECIALITY NEWS
Dwellings for overseas Vietnamese and foreigners
The Committee for overseas Vietnamese in HCMC has showed that there
have been 130 overseas Vietnamese buying houses, mainly in HCMC.
Those who brought houses are those who come back to the country for their
long term and direct investment, scientists, culture researchers invited to
come back to the country to become experts and repatriating overseas
Vietnamese. To buy houses, beside documents verifying priority subjects,
the buyer must present their passport (issued in Vietnam). In the case that
house buyers bring foreign passports, they must have certificates of
Vietnamese nationality or documents confirming their losing Vietnamese
nationality, or certificate of citizenship registration.
Social welfare houses for workers
On July 26th, HCMC Housing Development Fund was inaugurated and
received Linh Trung resident housing area for workers at Quarter 1, Linh
Trung Ward, Thu Duc District, HCMC. This project is invested by Sai Gon
Construction Corporation. The housing area includes 2 apartment buildings
with 233 rooms, meeting housing demand of over 1.400 employees.
Hung Vuong Joint – Stock Company (My Tho, Tien Giang Industrial Zone)
has just put a 5-storey apartment building into use. The building includes 45
apartments of over 100m2 for collective living of 400 cadres and employees.
As for married people in which their wife or husband work together at this
company, they will be eligible for the 10 year installment plan at preferential
prices. The company continues to petition Tien Giang Provincial People’s
Committee to grant a 5.000m2 land area to construct more apartment
buildings for workers with an investment of 100 billions VND.
VietRees
Real estate for the low income
Extra hundreds of thousands of apartments to be built for low-
income earners
* Sai Gon – Gia Dinh Real Estate Company and Hoa Binh Phu Yen
Company build Thoi An Apartment Building in District 12 with 1,000
apartments. * Construction Company No. 8 (CIC8) will invest in construction
of 10,000 Keppel Land apartments and Tien Phuoc Company will build a
resettlement area including 1.900 apartments at An Phu, Binh Khanh,
District 2. * HCM City housing development fund will build low- income
houses in District 12. * HCM City People’s Committee will advance 50.5
billion to carry out the project of Vinh Loc B, Binh Chanh residential area for
resettlement with hundreds of townhouses and 40 apartment blocks.
*Construction Company No. 5 will invest in construction of 500 apartments
at Ward 22, Binh Thanh District. * Dat Lanh Company has granted
construction permit for 30-40m2 apartments priced at 200-300 millions
VND/unit. * Besides, VinaCapital and Chinese, Korean Groups are
expediting projects of apartments worth below 400 millions USD/unit. * HCM
City Cooperative Alliance has developed its construction investment project
of housing area at Le Minh Xuan Commune, Binh Chanh Suburban District
on a site of 67.49 hectares. * 50% of the house reserve at The Slendor
apartment area (Go Vap D.) will be intended to serve resettlement demand
in the district.
VietRees
VN-Index
Source: Vietstock – Up to date 01/08/2008
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This weekly newsletter 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.
www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 5
Investment trends in development of real estate projects
According to VietRees’ analysis, in aspect of project
development and investment, the current real estate
market is witnessing some following trends:
1. Domestic enterprises with powerful financial potential, mainly
corporations, still keep developing, but their progress may be slower
than before.
2. Most of enterprises are still expecting and trying to stay in the
field, but instead of doing it on their own as before, now these
agents have turned joint-ventures, called for cooperation,
investment and integration.
3. Some medium and small enterprises with unstable structures and
some individuals that own and tend to develop former projects are
having difficulties in project implementation and have not found out
suitable partners. Now they are aiming at project transfer.
Before this situation, one reality is that many foreign investors are
hunting for projects of domestic companies to undertake, transfer or
carry out joint-venture. According to study of VietRees, some
advantages that make foreign investors much interested in this form
include: clear legal situation of projects, avoidance of site clearance
compensation, furthermore, some projects only need investment to
be implemented quickly. In addition, investment costs is sometimes
a little lower than in reality because project land of project
management are taken back due to their slower implementation
than in stipulation.
Recently, VietRees Investment Promotion Department has been
receiving many requests from domestic investors who have projects
in need of investment or transfer and requests of foreign investors
about searching properties as well. As a supplier of full services, a
deep market understanding and working experiences with foreign
partners, VietRees would like to offer advices to project managers
interested in calling for foreign investment in their projects as
follows.
Advice for project management interested in calling for
foreign investment
1. Fully prepare documents about project (especially for legal
documents of projects).
2. Carefully study price of transfer or equity capital (for cooperation
form or joint-venture form).
3. Regarding projects planned in details, a clear and logical budget
distribution sheet for investment and detailed design of every
portfolio in the overall project required.
4. Submit an analysis table of successfulness and feasibility level
(profitability level) of projects.
5. For joint - venture forms, project managers should have carefully
and clearly prepared financial reports on enterprises’ situations and
these reports should be carried out by professional audit
companies.
6. Additionally, a small yet important factor is to learn about
business culture and national culture of foreign investors in order to
clear their very concerns and satisfy their requirements.
VietRees
VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 6

Websites of real estate companies in Vietnam Useful hyperlinks

Property developers Brokerage Evaluation

Ho Chi Minh Ho Chi Minh AREV - www.arev.com.vn
Company 585 - www.585.com.vn An Gia - www.angia.com.vn Hoang Quan - www.thamdinhgia.com
Company 584 - www.congty584.com.vn ACBR - www.acbr.com.vn Vietland - www.thamdinhgia.com.vn
An Phú - www.anphugroup.vn Dat Xanh - www.datxanh.com.vn VVFC - www.valuation.vn
BCCI - www.bcci.com.vn Dia Loi - www.nhadatdialoi.com.vn
Daewon - www.daewon.vn Dat Cat - www.datcat.com.vn Construction
Him Lam - www.himlam.com FICO – www.ficohome.com.vn
Ho Chi Minh
Hoang Anh Gia Lai - www.hagl.com.vn Kim Son - www.kimson.com.vn
CIC8 - www.cic8.com
Linh Phong Conic - www.conic.com.vn Phuc Duc - www.phucduc.com
Coteccons - www.coteccons.com.vn
Nam Long - www.namlongvn.com Hung Phu - www.hungphunhadat.com
Cosaco - www.cosaco.com.vn
Phu Long - www.phu-long.com.vn Hung Thinh 2 - www.diaochungthinh.com.vn
Hoa Binh - www.hoabinhcorporation.com
Phu Quoc Land - www.phuquocland.net Hoang Quan - www.hoangquan.com.vn
Hai Thanh - www.haithanh.com.vn
SacomReal - www.sacomreal.com Intresco - www.intresco.com.vn
Toan Thinh Phat - www.toanthinhphat.com.vn
Sadeco - www.sadeco.com.vn Loc Dien – www.nhadatld.com
Resco - www.rescovn.com Nova - www.novahomes.com.vn
Thai Thinh Capital - www.richlandhill.com.vn Phat Hung - www.phathung.com.vn Ha Noi
Thu Duc House - www.thuduchouse.com Tan Dien - www.tandien.com.vn Constrexim - www.constrexim.com.vn
Phu My Hưng - www.phumyhung.com.vn Van Hung Phu - www.vanhungphu.com Cavico - www.cavicovn.com
Van Phat Hưng - www.vanphathung.com.vn HANCIC - www.hancic.com.vn
Vietnam Land SSG - www.saigonpearl.com.vn Ha Noi HUD - www.hud.com.vn
Incomex - www.incomex.vn
Cland - www.cland.com.vn
Ha Noi Dong Do - www.dongdobds.com
FPT Land - www.fpt-land.com Phu Thai Group - www.phuthaigroup.com Architect and Interior Decoration
C.E.O - www.ceoholdings.com.vn Petrowaco - www.petrowaco.vn Ho Chi Minh
Gia Tue - www.giatue.com.vn Petrolimex – www.pland.com.vn A2 Visualization - www.a2viz.com.vn
HUD - www.hud.com.vn Cat Moc - www.catmoc.com.vn
HDB Viet Nam - www.hdbgroup.com.vn Research Le Do - www.model&more.com
Keangnam – www.eng.kne.co.kr CBRE - www.cbrevietnam.com Nha Vui - www.nhavui.com
Nam Cuong – www.namcuong.com.vn Savills Viet Nam - www.savills.com.vn Nha Viet - www.nhavietdecor.com
Song Hong Land - www.songhongland.com.vn VietRees - www.VietRees.com Nha Dep - www.nhadep.com.vn
Vinaconex – www.vinaconex.com.vn Pho Xinh - www.phoxinh.com.vn
Vincom - www.vincom.com.vn Consulting
Viet Hung - www.ecopark.com.vn CBRE - www.cbrevietnam.com Ha Noi
Dong Duong - www.indochina-consulting.com ACT - www.act.com.vn
Other cities Eden Real - www.edenreal.com ADKientruc - www.adkientruc.com
Becamex IDC - www.becamex.com.vn Indochina Land - www.indochinacapital.com Ashui – www.ashui.com
Biconsi - www.biconsi.com.vn Long Gia Khang - www.longgiakhang.com Kien Truc Ha No - www.kientruchn.com
Tuan Chau - www.tuanchau-halong.com.vn Savills Viet Nam - www.savills.com.vn
GNSVINA - www.cozyvill.com Vina Capital - www.vinacapital.com
Company 579 - www.cecico579.com.vn VietRees - www.VietRees.com
Duc Manh - www.ducmanhco.com

Websites of properties in Vietnam Useful hyperlinks

Ho Chi Minh Ha Noi Other cities

Blooming Park- www.bloomingpark.com
Saigon Paragon - www.saigonparagon.com
Dragon City - www.dragonland.com.vn
Preche - www.preche.com
SaigonPearl - www.saigonpearl.com.vn
V-Star - www.v-star.com.vn
Time Square - www.timessquare.com.vn
The Everrich - www.theeverrich.com
Tan Da Court - www.tandacourt.com
Lancaster - www.lancaster.com.vn
The Vista - www.thevista.com.vn
Viglacera Tower - www.viglaceraland.vn
KĐT My Dinh – Me Tri - www.sudicosd.com
KĐT Bac An Khanh - www.vinaconex.com.vn
Ha No Plaza Hotel - www.charmvit.co.kr
KĐT Phap Van – Tu Hiep - www.hud.com.vn
Other cities
Furama Resort - www.furamavietnam.com
Sai Gon – Mui Ne Resort - www.saigonmuineresort.com
Sunspa ResortVietnam - www.sunsparesortvietnam.com
Cozyvill - www.cozyvill.com
Flamingo Dai Lai - www.flamingodailai.com
Van Phu township - www.dothivanphu.com
Dam Vac Golf - www.damvacgolf.com
Sanctuary - http://sanctuary.com.vn
Ho Tram Strip - www.hotramstrip.com
Sai Gon Sunbay - www.ctc-corp.vn
Eden Lagi Resort - www.edenreal.com
Van Quan – Yen Phuc township - www.hud.com.vn
Quoc Te Do Son - www.vietlandgroup.com

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VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A42 Page 7