VNRE - Today, Savills Vietnam cooperated with Savills Japan to hold a seminar at Tokyo American Club, Tokyo to promote Vietnam real estate, attracting nearly 100 potential Japan based investors who are interested in Vietnam.
At the beginning of the seminar, Mr Naito, Associate Director, Research & Consultancy, Savills Japan, said: “With impressive growth rate and talented young labor, Vietnam is significantly increasing its economy capability. Also, Vietnam has been chosen as the new investment destination, switching from China by global producers. Therefore, Vietnam is likely to be a leading country in Asia in attracting investment”.
In the seminar, Neil MacGregor, Deputy Managing Director of Savills Vietnam presented over 20 specific real estate investment opportunities as well as providing an overview of the Vietnamese economy and the property market. Neil also highlighted the increasing interest in Vietnam from Japanese investors and the co-operation between the two countries.
Neil commented: “Despite the global financial crisis, Vietnam has been ranked one of the top investment destinations in the region. Vietnam has recently been voted the top investment destination for Singapore investors in the ASEAN region, ahead of Malaysia and India. Earlier this year, Vietnam was ranked the fourth most preferred emerging market for investments by the Association for Foreign Investors in Real Estate (AFIRE). Being an emerging market with favourable demographics, low labour costs and a strategic location in the region, Vietnam still has much to offer”.
He also said: “The year 2011 is seeing a wave of investment from Japan into Vietnam in many sectors including finance, communications, consumer goods, and real estate. According to the Japan External Trade Organization (JETRO), total Japanese direct investment in Vietnam for the first half of this year reached US$1.169 billion, 8.3 times higher than the same period last year. Some of the major deals which have taken place this year include Mizuho buying a 15% stake from Vietnam’s largest listed bank by market value, Vietcombank, for US$567.3 million; The Sojitz Group, Daiwa House and Kobelco Eco-Solutions Company under the Kobe Steel Group constructing the Long Duc Industrial Zone in Long Thanh, Dong Nai Province at an estimated cost of US$100 million; Japan Asia Vietnam acquiring Centre Point Office Building in Ho Chi Minh City; Nikko Cordial Securities investing in PetroVietnam Securities, Unicharm acquiring Diana, etc..”
The Vietnamese real estate market is critically short of capital and developers are therefore seeking new sources of finance. These include an outright sale of the project to a third party, seeking a joint venture partner, en bloc sales of residential units, or strata sales of retail and office space, etc. Many Vietnamese developers holding large land banks are now willing to sell development land to third parties in order to raise capital to finance the construction of other projects. The financial pressure on local developers has resulted in many distressed assets in Vietnam, which on the other hand creates an unprecedented period of opportunity for foreign investors.
Although facing a number of challenges such as an immature legal framework, low market transparency, complicated licensing procedures and differences in price expectations; it is believed that the next few years will see a rising number of investment deals happening.
At the seminar, the presenter also mentioned that Savills Vietnam is a well-known international real estate service provider with more than 15-years experience in Vietnam. Particularly, in the field of real estate investment consultancy and M&A, Savills have a strong dedicated team of experts with in-depth experience and relationships with investors and developers, including domestic, regional and global players. In 2010, Savills Vietnam successfully brokered a number of real estate deals, with total transaction value exceeding US$100 million. Operating as the one-stop exchange for real estate investors and developers for deal sourcing, Savills Vietnam is in the best position to direct capital flows to where they are needed most.
For media enquiry, please contact:
Nguyen Pham Khanh Van
Corporate PR & Marketing Manager
Savills Vietnam
E: Nvan@savills.com.vn
For Investment opportunity, please contact:
Neil MacGregor MRICS BLE (Hons)
Deputy Managing Director of Savills Vietnam
E: Nmacgregor@savills.com.vn
Su Ngoc Khuong (Mr.)
Associate Director – Investment – HCMC
E: Sngockhuong@savills.com.vn
Dao Manh Hung (Mr.)
Head of Investment – Hanoi
E: Dmanhhung@savills.com.vn
At the beginning of the seminar, Mr Naito, Associate Director, Research & Consultancy, Savills Japan, said: “With impressive growth rate and talented young labor, Vietnam is significantly increasing its economy capability. Also, Vietnam has been chosen as the new investment destination, switching from China by global producers. Therefore, Vietnam is likely to be a leading country in Asia in attracting investment”.
In the seminar, Neil MacGregor, Deputy Managing Director of Savills Vietnam presented over 20 specific real estate investment opportunities as well as providing an overview of the Vietnamese economy and the property market. Neil also highlighted the increasing interest in Vietnam from Japanese investors and the co-operation between the two countries.
Neil commented: “Despite the global financial crisis, Vietnam has been ranked one of the top investment destinations in the region. Vietnam has recently been voted the top investment destination for Singapore investors in the ASEAN region, ahead of Malaysia and India. Earlier this year, Vietnam was ranked the fourth most preferred emerging market for investments by the Association for Foreign Investors in Real Estate (AFIRE). Being an emerging market with favourable demographics, low labour costs and a strategic location in the region, Vietnam still has much to offer”.
He also said: “The year 2011 is seeing a wave of investment from Japan into Vietnam in many sectors including finance, communications, consumer goods, and real estate. According to the Japan External Trade Organization (JETRO), total Japanese direct investment in Vietnam for the first half of this year reached US$1.169 billion, 8.3 times higher than the same period last year. Some of the major deals which have taken place this year include Mizuho buying a 15% stake from Vietnam’s largest listed bank by market value, Vietcombank, for US$567.3 million; The Sojitz Group, Daiwa House and Kobelco Eco-Solutions Company under the Kobe Steel Group constructing the Long Duc Industrial Zone in Long Thanh, Dong Nai Province at an estimated cost of US$100 million; Japan Asia Vietnam acquiring Centre Point Office Building in Ho Chi Minh City; Nikko Cordial Securities investing in PetroVietnam Securities, Unicharm acquiring Diana, etc..”
The Vietnamese real estate market is critically short of capital and developers are therefore seeking new sources of finance. These include an outright sale of the project to a third party, seeking a joint venture partner, en bloc sales of residential units, or strata sales of retail and office space, etc. Many Vietnamese developers holding large land banks are now willing to sell development land to third parties in order to raise capital to finance the construction of other projects. The financial pressure on local developers has resulted in many distressed assets in Vietnam, which on the other hand creates an unprecedented period of opportunity for foreign investors.
Although facing a number of challenges such as an immature legal framework, low market transparency, complicated licensing procedures and differences in price expectations; it is believed that the next few years will see a rising number of investment deals happening.
At the seminar, the presenter also mentioned that Savills Vietnam is a well-known international real estate service provider with more than 15-years experience in Vietnam. Particularly, in the field of real estate investment consultancy and M&A, Savills have a strong dedicated team of experts with in-depth experience and relationships with investors and developers, including domestic, regional and global players. In 2010, Savills Vietnam successfully brokered a number of real estate deals, with total transaction value exceeding US$100 million. Operating as the one-stop exchange for real estate investors and developers for deal sourcing, Savills Vietnam is in the best position to direct capital flows to where they are needed most.
For media enquiry, please contact:
Nguyen Pham Khanh Van
Corporate PR & Marketing Manager
Savills Vietnam
E: Nvan@savills.com.vn
For Investment opportunity, please contact:
Neil MacGregor MRICS BLE (Hons)
Deputy Managing Director of Savills Vietnam
E: Nmacgregor@savills.com.vn
Su Ngoc Khuong (Mr.)
Associate Director – Investment – HCMC
E: Sngockhuong@savills.com.vn
Dao Manh Hung (Mr.)
Head of Investment – Hanoi
E: Dmanhhung@savills.com.vn
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Thanks for describe about this seminar. We can get very good detail about market and the rates of 2011.
Your detail about this seminar is very useful for investors.
Thanks....
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