MARKET SNAPSHOTS WEEK 33/2024
Taseco Land commences construction of an industrial park worth over VND 2,300 billion in Ha Nam
On the afternoon of August 3rd, Taseco Land Investment JSC (Taseco Land) coordinated with the Ha Nam Provincial People's Committee to hold the groundbreaking ceremony for the Dong Van III Supporting Industrial Park infrastructure construction and business project. The Dong Van III Supporting Industrial Park project, located on the eastern side of the Gie bridge - Ninh Binh expressway (commercially known as Taseco Dong Van III Industrial Park), covers a land area of 223 hectares with a total investment of over VND 2,300 billion. The project will be implemented in the wards and communes of Yen Bac, Tien Noi, Hoa Mac, Tien Ngoai, and Yen Nam in Duy Tien town. The investor is expected to complete the technical infrastructure and hand over approximately 100 hectares in Phase 1 to investors for factory construction in Q1 2025. Phases 2 and 3 will be completed and handed over to investors by the end of 2025.
PepsiCo foods Vietnam breaks ground on new factory in Ha Nam
On August 3rd, PepsiCo Foods Vietnam officially commenced the construction of a new modern food production facility on an 8-hectare site in the Dong Van I Industrial Park expansion (Duy Tien town, Ha Nam province). This is the second factory of the Lay's potato chips brand owner in Vietnam. With a total investment of up to 90 million USD, PepsiCo Foods not only marks its impressive 30-year presence in Vietnam but also demonstrates the company's long-term commitment to sustainable development in this market. The new factory is expected to become a key production center for PepsiCo Foods in Vietnam, with an annual capacity of over 20,000 tons of snacks. Once operational, the factory is anticipated to drive significant economic and social development in the local area by creating numerous job opportunities in fields such as manufacturing, logistics, packaging, and agriculture, generating over 1,000 direct and indirect jobs.
Can Tho: Groundbreaking ceremony for 19-story Stella Icon Luxury Apartment Project
On the morning of August 3rd, the Stella Icon luxury apartment project, part of the KITA Airport City Urban Area, officially broke ground. This project is developed by KITA Invest with KITA Group as the project distributor. The Stella Icon Apartment Complex is part of Can Tho City's housing development program through 2025 with an outlook to 2030, which has been approved by the Can Tho City People's Committee. This is a Grade I residential building with 19 floors, and a total construction floor area of 39,167 square meters. Stella Icon consists of one tower, one basement, and 18 above-ground floors, featuring 294 apartments and 15 shophouses, with a total investment of VND 440 billion. The project is expected to be handed over in Q1/2026. The project is anticipated to create significant regional appeal, attract a civilized and modern urban population, enhance urban space in line with the city's urban planning and development orientation, and contribute to the economic and social development of Can Tho City.
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Official launch of the branded residences project - Noble Crystal Tay Ho - and 5 luxury projects under the Noble Brand
On August 4th, 2024, Maestro of Life – the event marking the launch of the Noble real estate brand and its projects – was held in Hanoi. This event introduced a branded residences project managed by the top-tier WorldHotels brand of the BWH Hotels Group. Located in the strategic area of the west of (Nam Thang Long Urban Area), Noble Crystal Tay Ho features limited-edition Sky Villas with an expansive area of over 600 sqm, floor-to-ceiling glass walls, and a design that includes the region's largest balcony garden and swimming pool. The project consists of a complex of five 40-story towers, offering nearly 1,000 high-rise apartments and over 100 low-rise villas. The launch of Noble is expected to significantly contribute to invigorating the luxury real estate segment, with the hope of pioneering opportunities to "export" Vietnamese real estate to the world, attracting remittances and foreign currency to Vietnam.
Soc Trang: Approval of the subdivision planning for the construction of Dai Ngai Industrial Park
Recently, the People's Committee of Soc Trang Province issued Decision No. 1680/Q?-UBND approving the subdivision planning for the construction of Dai Ngai Industrial Park, Long Phu District, Soc Trang Province, at a scale of 1/2,000. The planning area is located in Long Duc Commune, Long Phu District, Soc Trang Province, and includes main functional areas such as industrial production land, warehousing, administrative and service areas, and key technical infrastructure facilities. The total area for the planning is 196.30 hectares, including 196.0 hectares for the Dai Ngai Industrial Park project and 0.3 hectares for external infrastructure. This is a multi-sector industrial park, with priority given to industries such as textiles, footwear, machinery manufacturing, equipment for industrial production, mechanical engineering, and other high-value-added industries associated with smart manufacturing and automation processes. All sectors are required to meet environmental protection standards according to the province's guidelines.
Three real estate M&A deals in Q2/2024
In the second quarter of 2024, there were three notable real estate M&A deals in Vietnam. The first and largest deal involved Kim Oanh Group (Vietnam) partnering with NTT Urban Development, Sumitomo Forestry, and Kumagai Gumi Co Ltd (Japan) to develop The One World, a 50-hectare residential area in Binh Duong with a total investment of over $1 billion. The second deal was by Electronic Tripod Vietnam Co., Ltd. (Chau Duc), a subsidiary of Tripod Technology Group (Taiwan), which acquired an 18-hectare industrial plot in Ba Ria - Vung Tau from Sonadezi Chau Duc and will build the Electronic Tripod Vietnam (Chau Duc) factory with an investment of $250 million. The third deal involved Nishi Nippon Railroad (Japan) purchasing a 25% stake in the 45.5-hectare Paragon Dai Phuoc Project from Nam Long Group for approximately $26 million. Although real estate M&A transactions constitute a large proportion of the sector, real estate M&A activity in Vietnam has been declining in both quantity and value over the past three years and in the first half of 2024.