MARKET SNAPSHOTS WEEK 07/2025
Thaihomes opens its premium office building Thaisquare Caliria in Hanoi
On February 12, Thaihomes officially launched ThaiSquare Caliria, a high-end office building in the heart of Hanoi. This is the company's latest milestone after the successful opening of ThaiSquare The Merit at 43-45-47 Nguyen Thi Minh Khai, District 1, Ho Chi Minh City, which will be operational by the end of July 2024. Strategically located at 11A Cat Linh, ThaiSquare Caliria is located in a prime location in Dong Da District, seamlessly connecting to major districts such as Hoan Kiem, Cau Giay and Tay Ho. The building has a total construction area of 1,318m2 and will provide 8,429m2 of leasable area upon completion. In addition, the building also has three basement parking floors, ensuring convenience for tenants and visitors. ThaiSquare Caliria offers flexible leasing options, with floor areas ranging from 1,044m2 to 1,136m2, meeting a variety of business needs. Thanks to its prime location and modern design, LPBank (Loc Phat Commercial Joint Stock Bank) has chosen ThaiSquare Caliria as the new headquarters for its Dong Do branch.
FPT proposes two investment projects worth nearly VND10,000 billion in Khanh Hoa
On the morning of February 12, at a working session with the People's Committee of Khanh Hoa province, a representative of FPT Software Company Limited (under FPT Corporation) presented the investment plan and implementation roadmap for two major projects. The first project is FPT Technology Urban Area, expected to cover an area of 50.6 hectares with a total investment of more than VND9,290 billion, including compensation and resettlement costs. The project is expected to operate for 50 years from the date of land allocation. Infrastructure construction is expected to start in Q2 2028 and be completed in Q4/2037. The second project is FPT Education Complex, expected to be deployed in Phuoc Dong commune on an area of 7.7 hectares, with a total investment of about VND391 billion. Construction density is about 28%, area of 2.1 ha with 12 facilities. The complex will accommodate 6,030 students and will be developed in three phases over seven years: phase 1 (2025 - 2027): Construction of two lecture hall buildings, security house, parking lot, technical facilities and a multi-purpose service building; phase 2 (2028 - 2030): Two more lecture hall buildings and another multi-purpose building; phase 3 (2030 - 2032): Completion of remaining facilities.
Vincom Retail (VRE) plans to open 3 new shopping malls with a total floor area of nearly 117,000 sqm by 2025
In 2025, Vincom Retail (VRE) plans to open 3 new shopping malls with a total floor area of nearly 117,000sqm. Upcoming projects include: Vincom Mega Mall Ocean City in Hung Yen (53,200sqm), scheduled to open in Q2/2025; Vincom Mega Mall Royal Island in Hai Phong (44,500sqm), scheduled to open in Q3/2025; Vincom Plaza Vinh in Nghe An (19,200sqm), scheduled to open in Q4 2025. In 2024, Vincom Retail successfully opened five new shopping malls in Dien Bien, Ha Giang, Bac Giang, Quang Tri and the Grand Park project, adding a total of 95,000sqm of retail space. However, the average occupancy rate decreased slightly from 84.8% to 84.2%, mainly due to the closure of some entertainment service businesses affected by COVID-19 and the return of VinFast showrooms to retail operations. As of the end of 2024, Vincom Retail is operating 88 shopping malls across Vietnam, with a total floor area of approximately 1.84 million sqm.
Plan to build Saigon - Dong Nai riverside road before 2030
According to the Ho Chi Minh City Department of Transport, the Saigon riverside road has been shown in the Dong Nai Province Planning to 2030, vision 2050 and the Ho Chi Minh City Planning to 2030, vision 2050. The Dong Nai River section passing through Bien Hoa City spans approximately 4km. Flowing through the heart of the city, the Dong Nai River has long been considered a key axis for infrastructure and landscape development, driving economic and urban growth along its banks. Currently, several large-scale riverside urban developments are already reshaping Bien Hoa's urban landscape. Some projects include Hiep Hoa Islet of about 293ha, Tan Van Islet of about 48ha, Izumi City of 170ha. Among them, Izumi City, developed by Nam Long and Hankyu Hanshin Properties (Japan), features 5.5km of riverfront along the Dong Nai River, located at the intersection of Huong Lo 2 and Nam Cao Street. Positioned as an eco-urban hub in eastern Ho Chi Minh City, Izumi City offers a full range of amenities for living, working, learning, and entertainment.
Nha Be District and District 7 to become Southern Urban Center of Ho Chi Minh City
According to Ho Chi Minh City's Master Plan for 2021-2030, with a vision toward 2050, Nha Be District, along with four other suburban districts, will be developed into modern satellite cities, meeting the criteria for upgrading to a city. After 2030, Ho Chi Minh City will shift to a multi-center urban model, with Nha Be District and District 7 forming the southern urban center directly under the city government. To support connectivity and synchronous development, Nha Be will witness significant investment in transport infrastructure. Major routes to be upgraded or newly built include: Ben Luc - Long Thanh Expressway; Ring Road 4; Nguyen Huu Tho, Huynh Tan Phat, Le Van Luong, Nguyen Binh; Phu My 2 Bridge. A 38km dedicated railway line will be built to connect the national railway system with Hiep Phuoc Port. The metro expansion will bring many lines through Nha Be: Metro Line 4 (Dong Thanh - Hiep Phuoc) - 47.3km; Metro Line 10 (Outer Ring Road) - 83.9km, running through Thu Duc, Nha Be, Binh Chanh and Hoc Mon; Metro Line 12 (District 7 - Nha Be - Can Gio Coastal City) - 48.7km. Inland waterways will be upgraded and expanded to enhance connectivity between the inner city and Hiep Phuoc Port.
Nearly 200 projects registered in Quang Tri's IPs.
Two economic zones and two industrial parks in the central province of Quang Tri have so far attracted nearly 200 investment projects, with a total registered capital exceeding 172.4 trillion VND (6.78 billion USD) and a planned land use of over 5,978ha. Quang Tri currently operates the Southeast Economic Zone and the Lao Bao Special Economic Zone, alongside the South Dong Ha and Quan Ngang Industrial Parks. Additionally, three new IPs are in the pipeline. The Trieu Phu IPs in Trieu Phong district, set to break ground in Q1 2025 with a 4.53 trillion VND investment, is slated for operation by 2030. It will prioritise industries utilising local raw materials, including agriculture, forestry, seafood processing, mechanical engineering, and construction materials production. The 925 billion VND Northwest Ho Xa IP in Vinh Linh district is scheduled for construction in Q2 2025, focusing on wood processing, fertilisers, seafood processing, solar energy, and garment.