MARKET SNAPSHOTS WEEK 52/2022
Ho Chi Minh City kicks off Can Gio bridge project
According to Decision No. 751/QD-UBND dated March 1st, 2019 of the People's Committee of Ho Chi Minh City on approving the architectural plan of Can Gio bridge under the Public-Private Partnership (PPP) method. According to the design plan, Can Gio bridge has a length of 3.4 km, is expected to divide into 4-6 lanes, and will replace Binh Khanh ferry, connecting Can Gio district with the downtown and neighborhood. Can Gio bridge is expected to be invested with nearly 10,000 billion VND; which, investors spend on construction and installation costs, and the Ho Chi Minh City budget spends nearly 4,000 billion VND for compensation and clearance. The project is expected to carry out investment preparation in the period of 2022 - 2023, starting in 2024 and completing in 2028.
In November, house prices in Ho Chi Minh City fell about 3-5%
In November, only the southern provinces of Ho Chi Minh City and Binh Duong had apartment projects for sale. Only two of nine projects were considered for new supply this month, the remaining seven projects were open for sale in the next phase. In terms of consumption, the whole southern market sold 213 units in the month, equaling 11% Y-o-Y, which was a decrease of nearly 90% compared to November 2021. This data shows that the purchasing power of condominiums last month was low compared to the last 4 months due to the impact of credit control.
Metro No.1 has been officially rolled out for testing
At 10 am on December 21th, Metro No. 1 (Ben Thanh - Suoi Tien) officially rolled out for a test run of nearly 9km, starting from Suoi Tien station to Binh Thai station (Thu Duc city). Each Metro No. 1 has a 3-car train with a capacity of about 930 passengers. The elevated section's maximum speed is 110km/h and the tunnel section's maximum speed is 80km/h. The contractor will operate at a speed of less than 40km/h to ensure safety during the test run. The train test run is good news for the people of Ho Chi Minh City and an important milestone, marking the transition from the completion stage of the construction process to the test phase, preparing for the operation.
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Construction of Terminal 3 of Tan Son Nhat International Airport starts
Construction of Terminal 3 of Tan Son Nhat International Airport started on December 24th. Terminal 3 is designed with a capacity of receiving 20 million passengers/year and 7,000 passengers during peak time. The project with a total capital of 10,990 billion VND (466 million USD), is expected to be completed by the end of 2024. Prime Minister Pham Minh Chinh emphasized that transport infrastructure is one of three strategic breakthroughs for sustainable economic development. Aviation infrastructure development contributes to the synchronization and diversification of transport, promoting the development of domestic and international trade in goods.
Ba Ria - Vung Tau: Two "golden" land plots worth trillion VND to be auctioned
These two land plots are considered the most beautiful in Vung Tau City (Ba Ria - Vung Tau Province) located at Nghinh Phong cape in Ward 2 and in Thang Tam Ward with an expected starting price of nearly 2,700 billion VND. Accordingly, the land area of over 13.8 hectares in Ward 2 is located in an area of 21.7 hectares of Nghinh Phong cape, has a prime location, located between two famous coastal tourist roads of Vung Tau City (Thuy Van - Ha Long) will be auctioned with an expected starting price of more than 1,494 billion VND. The remaining land area has an area of over 4 hectares in Thang Tam Ward (One Opera Complex area) with the frontage of Thuy Van - Hoang Hoa Tham coastal road, the expected starting price is 1,191 billion VND.
KIDO to divest from Chuk Tea & Coffee
The KIDO Group, whose shares trade under the symbol KDC on the Ho Chi Minh Stock Exchange, has approved a plan to divest from the Chuk Tea & Coffee chain, formerly known as Chuk Chuk. The food processor has decided to divest from TTV Investment-Trading JSC, which owns the F&B Chuk Tea & Coffee chain. Now KIDO owns a 61% stake in TTV.