VietRees Newsletter 36 Week3 Month06 Year08

8/14/2019 VietRees Newsletter 36 Week3 Month06 Year08

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Vietnam Real Estate Newsletter A36

VietRees Vietnam Real Estate Web: www.VietRees.com Email: [email protected] Week 3 June, 2008

NEWS BULLETIN FOR PROFESSIONAL REAL ESTATE INVESTORS, PLANNERS, DEVELOPERS AND MARKETERS

English Edition Editorial Board: VietRees Market Information Department and RENOW Group Company Renow.com.vn

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This is a weekly newsletter issued by VietRees Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning ornterested 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 forhe occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenient tracking or

getting full information. Should you need any queries or register to receive the newsletter, please contact via [email protected].

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Weekly issued

to 7,000registeredmembers,

approximately

20,000 readsper week or

80,000 readsper month

Section A GeneralMarket Information

completely presents thewhole market with hot

news, foreigninvestment, real estatecompany, real estate

new developments andall necessary legal

news.

Section B ResearchResults & Statistics

provides marketstatistics including

pricings ofdevelopments, market

prices and constructionmaterials prices, real

estate overall statistics,newly announced

developments everyweek and month,

approved developmentsfor construction and

VietRees forecasts onthe market and VN-

Index stats.

Section C Ultilities &Speciality Newsconsists of usefulselected articles,

reports and analysis.

Please stay tunedwith the

Real EstateInvesting Newsletter

issued by VietRees everymonth. The newsletter

introduces fully legitimatedevelopments that are

calling for investment andacquisition.

Joining with VietRees todevelop this weekly newsletter

SECTION A - GENERAL MARKET INFORMATION

A1-MARKET HOT NEWS

Source: VietRees Source: Kinh Te Do Thi1. Office rents continue torise

16 Jun, 2008

2.Price decreased, buyerstill listening out

19 Jun, 2008

According to survey figures in the first half of June,2008 from Vietrees market research company, themonthly rent of grade A offices has been up to80USD/m2, and grade B offices 45 USD/m2.

Rental prices of grade-A office in HCM city have anaverage increase of 5 USD after every 2 months.Grade-A offices are fully occupied while rentalprices and leasing of grade B and C offices tend to

level off.According to Vietrees, the reason is that companiesare cutting down costs and there are more suppliesof grade B and C offices in the last half of this year.

The downturn in the rent of grade B offices in thefirst half of June is suitable for the study report ofCBRE at the end of May. According to this report,grade A office are still in great demand and there isno supply until the end of this year, whereas manynew office buildings have slowed down thecovering speed of grade B offices.

Facing the price downturn of many apartment buildings,land and house market starts moving. Many people arenow searching for properties worth from VND 1.5 billionsor less.

In the past, real estate transactions have been slow tomove due to the fact that buyers did not define the realvalue of properties, but based themselves on pricesoffered by real estate agents (usually much higher than

real value). At present, real estate prices are comingback to their real value, hence, the market will begin togain momentum.

According to experts, the real estate market is witnessingmovements because small investors cannot stand thepressure of loan interest rates. People have actualdemands, hence, when prices go down, most peoplewant to purchase houses for their living, not forspeculating like before.

However, in general, customers have not wanted to payyet, because they are still in the mood of expecting andlistening out for further price decreases.

A2-REAL ESTATE FOREIGN INVESTMENT

Source: Dan Tri Source: TheSaiGonTimes3. Petromanning signscooperation contract withDak Qatar

13 Jun, 2008

4. Vietnam biggestsoftware city to be builtin Thu Thiem

16 Jun, 2008

Petrovietnam Manpower Supply And ServicesCompany Limited (Petromanning) and Qatar ProjectDevelopment and Construction company (Dak QatarW.L.L) have signed a contract on cooperation.

Under the contract, the two parties will set up DohaVietnam Dak Petro joint venture companyspecializing in: housing construction, machinery,new product introduction, new technology

application in the construction field.Besides, the two sides will cooperate in recruitinglabor force for petroleum and construction industry.

In the morning of June 16, 2008, HCMC. PeopleCommittee issued the investment certificate for TAAssociates Vietnam Ltd. Co. (a joint venture company ofSaigon Telecommunication Joint Stock Company andAssociates International, Pte., Ltd Singapore) todevelop a software city worth USD 1.2 billion in ThuThiem new urban area, District 2.

The project is planned in a 16ha area, majoring in

producing and exporting software, building infrastructure-commercial centers and apartments for lease etc. Theproject is scheduled to start in the middle of July, 2008and go into operation at the end of 2012.


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This is a weekly newsletter issued by VietRees Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning ornterested 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 responsibleor the occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenientracking or getting full information. Should you need any queries or register to receive the newsletter, please contact via [email protected].

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A3-REAL ESTATE COMPANY EVENT

Source: Ha Noi Moi Source: SaiGonTimes5. A new standardized real estatetransaction center to be opened

16 Jun, 2008

6. Da Nang Investors associationfounded

19 Jun, 2008

Real Estate Investment Trust Joint Stock Company from VietnamPrivate Enterprises Bank (VPReit) has been approved by Ministryof Construction to set up a trial standardized real estate transactioncenter. The House Department will support VPReit in specializedinformation to set up and run the real estate center in accordancewith the general regulation.

Currently, VPReit is supplying services such as: finance investmentin real estate business, investing-developing and directly managingreal estate projects.

FPT Real Estate Ltd.Co., Investment and Construction Joint StockCompany 579, Cuong Hung Thinh Real Estate AndTelecommunication Ltd. Co. and Eden Hotel And Tourism Ltd. Co.have been received permit from Da Nang People Committee toestablish Da Nang Investors association located at 178 Tran Phu St.,Hai Chau Dist.

The association is founded to create opportunities for cooperating,supporting among its members and to protect their benefit in

business and investment promotion activities in Da Nang.

Source: VietRees Source: VietRees7. Condominium to be built in Hoa ThanhWard, Tan Phu District

19 Jun, 20088.Cholimex invests in housingconstruction project

20 Jun, 2008

HCMC Peoples Committee has approved Viet Phat InvestmentAnd Commerce Ltd. Co. to invest in the project of buiding acondominium at No. 4 Trinh Dinh Thao St., Hoa Thanh Ward, TanPhu Dist.

At the same time, Tan Phu Districts People Committee is assignedto inform people who are using the land within the project, to planand to approve the detail project on building the residential area inHoa Thanh Ward, Tan Phu Dist.

Cholimex Investment and Construction Joint Stock Company hasbeen approved by HCMC Peoples Committee to implement theproject of building a condominium at No.147 Nguyen Chi Thanh,Ward 12, District 5 for resettlement of people whose houses affectedby land clearance and public facilities construction projects in thedistrict. Besides, the company is also approved on setting a project ofconstructing a housing-commercial building at 258 Le Hong Phong,Ward 4, District 5.

A4-REAL ESTATE DEVELOPMENTS NEWS

Source: Nguoi Lao Dong Source: VietRees9. One more housing project inDistrict 9

13 Jun, 2008

10. One more Binh Thien An apartmentproject in Dist 2

14 Jun, 2008

On June 13, 2008, Hung Phu Real Estate Investment JSC told thatHCMC Peoples Committee approved of assigning the 98.372-sqmlarge land to carry out their investment in new housing project atPhu Huu Ward, District 9, Ho Chi Minh City.

This company is licensed to make agreement with land users toexchange land using rights for the capital transfer andcontributions.

HCMC Peoples Committee approved of changing the initially-planned residential complex into high-rise housing area and high-endhotel project in the islet at the junction of the Saigon River and GiongOng To canal in Binh Trung Dong ward, District 2. The investor of thisproject is the Binh Thien An Real Estate Holding Company.

This project includes 29 storey apartment buildings and 12-25 storeyhotels.

Source: Tuoi Tre Source: VietRees11. Planning gold land area - Vinh LongMedical High School

17 Jun, 2008

12. Tin Nghia licensed to invest in Thu Duc

18 Jun, 2008

Vinh Long Peoples Committee has ratified the project of TradeTownhouse area combining with services on premise of the currentmedical High School land area at Cluster 1, Ward 4, Vinh Longtown.

This land area covers 2,1 hectares and is divided into 2 zones: (1)Service zone with commercial functions, offices on ground floorand first floor, middle and high-class apartments on the upperfloors, (2) Trade Townhouse Zone bordering Pham Thai BuongStreet.

Tin Nghia Housing and Building Enterprise has issued an investmentpermit for a project of high-rise apartment building at the15.314,5sqm-large land area at Truong Tho Ward, Thu Duc District.

Department of Construction and Department of Planning andArchitecture, together with Peoples Committee of Thu Duc Districtprovided guidelines and dealt with criteria and norms on architectureplanning. The Department of Resources and Environmentpromulgated decisions on transferring land-using purpose to theinvestor in order that the project would be implemented as regulated.

Insightful Real Estate Market Information And Research: Please contact VietRees, the professional real estateresearching and consulting company in Vietnam. We specialized in inspecting demands and performing behavioralanalysis on current customers, targeted customers and potential customers in the real estate business sector inorder to assist and advise real estate companies developing a perfect business and marketing plan that succeeds insatisfying customer demands to its best. Furthermore, VietRees carries out a wide variety of researches including

possibility analysis, competition analysis, media marketing analysis and real estate valuating services.

Information regarding publishing:

On June 14th

2008, VietRees andThe NOW Group renow.com.vnhave signed an agreement oncooperating and developing the

Vietnam Real Estate Newsletter.


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A5-LEGAL NEWS

Source: DDDN Source: VietRees13. Specifications of public residentialhouses and projects promulgated

16 Jun, 2008

14. Guidelines on assessment and recognition ofmodel new urban area

19 Jun, 2008

Department of Construction has promulgated Decision No09/2008/QD-BXD on construction specifications of publicresidential houses and construction works, OccupationalHealth and Safety, which stipulated technical requirements forpublic residential houses and projects in order to ensure safetyfor life and health of users.

These projects should have preventive measures to avoid thedanger that poisons on the surface or inside the foundationsdo harm to human health. It is prohibited to use construction

materials made from amiang amphibole. Projects for under-5-year childrens use should ensure that the minimum height ofballistrates and stairs is from 800-1400mm as regulated.

Besides, there are other regulations on bearing capacity ofresidential houses, public constructions, electric equipmentsystem, fire fighting system, water supply and drainagesystem, equipments for the disabled in public residentialhouses and construction works.

June 17, 2008 Ministry of Construction promulgated Circular No15/2008/TT-BXD which provides guidelines on the assessment andrecognition of model new urban area. This circular includes instructionson conditions, criteria, sequence and procedures for setting updocuments, assessment and recognition of model new urban areas on anational scale.

According to the circular, a model new urban area is the urban area whichhas been newly recognized to meet criteria and other relevant regulationsof the Circular. The applicable subjects of this Circular include: all levels

of Peoples Committee, organizations and individuals at home and abroadthat are involved in investment, construction and management of newurban area. Regarding new urban area projects executed after CircularNo 15 taking effect, investors should take these projects intoconsideration on their own and then, bring documents set up whenestablishing investment projects to register with Provincial PeoplesCommittee and send one copy to Ministry of Construction.

This circular shall replace Circular No 10/2008/TT-BXD dated April 22,2008 and come into effect after 15 days since its date of publication in theOfficial Gazette.


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SECTION B RESEARCH RESULTS & STATISTICS

B1. TOTAL FDI TILL MAY 2008 B4. APARTMENTS AND DEVELOPMENT LANDS PRICES

In the first fivemonths of 2008, 15billion USD of FDIcapital was investedon a national widewith 324developments.

B2. STATISTICS OF FDI IN HCMC FOR THE FIRST 6 MONTHS OF 2008FDI inflowing in HCMC for the first 6 months of 2008 has increased tenfold over thesame period of 2007.

According report of HCMC Peoples Committee, foreign investment in the past 6months has reached USD 7.1 billion, increasing tenfold over the same period of theprevious year and equaling to total foreign investment of year 2005, 2006 and 2007.This figure has been considered as the highest level since the presence of law onforeign investment in Vietnam.

n the field of Education and Training, there is a project of Berjaya internationaluniversity and urban area with the total investment of USD 3.5 billion. In the field ofnformation Technology, there is a project of TECO Software Park with the totalnvestment of USD 1.2 billion.

n total, there are 97 projects granted investment permit with the registered capital ofover USD 7 billion and 50 capital-increasing projects with total increase of USD 103.4millions in adjusted capital. Until now, the number of projects still remaining valid on the

city-scale is 2.837 projects with total registered capital of over USD 24.3 billion.Source: VietRees

B3. VN-INDEX

Source: Vietstock Up to date 20/06/2008

Updated on information from ACBR, Van Phat Hung, Hung Thinh, PhucDuc, Tuoi Tre Newspaper and developers (VietRees gathered by directsurveys), listed prices can be original prices or transfer prices at current orat one week prior from the date this newsletter is issued.

District Area (m2)Price (million

VND/m2)+/-

Apartment building - HCMC

BMC 1 82 30

An Hoa 2 100 19 -

Blooming Park 2 135 28,5

Nguyen Phuc Nguyen 3 85 25

Hoang Dieu 4 91 31 -

Tan Da Court 5 73 44,5 +

Hoang Anh 1 7 109 19 -

Phu My 7 84 17,5 -

Cao Oc Xanh 9 92 22,4 -

Phu An 12 48 12

The Mansion BC 83 16 -

Le Thanh BTA 72 9 -

Development land lots HCMC

An Phu An Khanh 2 200 21 +

Him Lam Kenh Te 7 200 25 -

Kim Son 7 100 22

Codesco 12 151 10

6B - Intressco BC 100 15,5

Thinh Phat BC 144 5,5

Res10 BTA 84 10

Cotec NB 330 6,5

Nhon Duc NB 140 7,5

Thanh Nhut NB 108 12

Apartment building - Ha Noi

Chelsea Park CG 100 28,5

Vimexco CG 151 27

M5 DD 149 28

Linh Dam HM 62 16,5

Phap Van HM 76 12

Happy House LB 94 11

Viet Hung LB 77 9 -

Nang Huong TX 68 13,5

Development land lots Province

My Phuoc 3 BD 100 2

Viet - Sing 1 BD 100 7

Lan Anh 2 BR-VT 85 2

Nam Can Tho CT 100 4 +

Phu An DNI 100 2

Thanh Hung DNI 120 2

B5. ANNOUNCED PROMINENT REAL ESTATE DEVELOPMENTS DURING THE LAST 4 WEEKS

Week 4 (continued) May 2008 Week 1 June 2008 Week 2 June 2008 Week 3, June 2008

HCMCity

Vinh Loc B Commune RuA(B.Chanh), Blooming Park (D.2)

Vuon Dua Golf Courses and RA (D.9) Van Phuc Gia CompanyHA (H.Mon)

Binh Thien An AP Thu ThiemSoftware Park (D.2), Phu Huu Ward HA(D.9), Truong Tho Ward AP (T.Duc D.)

OtherAreas

Ho Tram Strip TA Rung DuongLaguna Beach Resort (V.Tau),Inexim Building (D.Lak), Tay SonComplex (H.Noi), Nam Hoang

ong 1 IA (L.Son)

Raffles Residence AP IndochinaRiverside Towers Complex TrueFriends Park Complex (D.Nang),Vung Bau TA (K.Giang), Commercial

Area B Vinh Long (V.Long)

Novotel Hanoi on the ParkHotel Long Bien DistrictRuA (H.Noi), Laguna HueTA (TT-Hue), Mang Den

Ecological TA (Kon Tum)

P.4 Housing Service Area (V.Long)


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B6. APPROVED PROMINENT REAL ESTATE DEVELOPMENTS IN HO CHI MINH CITY

May: 279 - No Trang Long AP (D.Binh Thanh), N.V.T Company HA(D. Thu Duc), Phu Loi 1 AP - BinhAn RA (D.8), Intresco 13E RA(D.7), Vuon Dua RA (D.9)

June: Vinh Loc B RA (D. Binh Chanh), Van Phuc Gia Company HA (H.Mon), 38,4ha RA (D.2), Hung Phu CompanyHA (D.9), Thu Thiem Software Park (D.2), An Phu Dong Ward De Tam Company HA (D.12), Truong Tho Ward TinNghia Company AP (T.Duc D.), Office Building Conference Center 31 Le Duan (D.1), Hoang Phuoc Company HA(D.12), P.13 584 Company AP (B.Thanh D.), Hoa Thanh Ward AP (T.Phu D.), Commercial Building 01W Dien BienPhu (B.Thanh D.), AP For Reurban 147 Nguyen Chi Thanh AP and Commercial Building 258 Le Hong Phong (D.5)

RA: Residential Area, AP: Apartment Building, HA: Housing Area, RuA: Reurban Area, TA: Tourism Area, IA: Investment Area.

B7. REAL ESTATE MARKET FORECAST

The real estate market at the moment is in the downturn, in another word, nearly frozen. The number of new projects on home and groundbase construction continues to fall during the last 4 months. Some existing projects have to postpone announcement of the next sales perioddue to the lacking of buyers. Meanwhile, some big developers still keep purchasing houses at announced price to protect their prestige. Themarket is much tougher when (1) the economic is in high inflation, (2) banks raise interest rates, and (3) the price of construction materialkeeps rising.

However, according to foreign analysts, the real estate market is still a potential investment channel. Offices, commercial centers, hotels andhigh-class apartments are the goals which foreign real estate investors are aiming at.

According to the Department of Land Survey of HCMC, in the next 5 to 10 years, with the rapid urbanization, the city must have 100,000new housing units each year to meet the demand. However, the citys Construction Department estimates that just 50,000 units are beingbuilt each year. That means only 50% of demand is satisfied. The continuous rising in land price inhibits the new construction of separatehouses and shifts the demand to apartments. This has proven that the demand for new apartments does exist and will be much morepressing in the coming time. Overcoming the temporary obstacles; the market will be more stable, professional and transparent.

* Note: Real Estate Market Forecast Information is only updated every 4 issues (after 1 month).

B8. CONSTRUCTION MATERIALS MARKET PRICES REPORT B9. CONSTRUCTION MATERIALS MARKET PRICES

Cement prices fall sharply, steel prices go up suddenly

According to investors and owners of construction materials stores,

cement prices keep falling sharply early this week. For example, Ha Tien 1cement, Holcim is priced at VND 70-72.000 per bag with averagedecrease of VND 2,000-5,000 per bag, in accordance with differentegions. As for other types of cement such as Hoang Mai, Hoang Thach,

Cam Phathe retail prices are VND 2,000-3,000 lower per bag.

16 June, 2008 steel prices at factories went up by VND200,000-300,000per ton. In the North, steel prices have been on the increase but stillVND1.2-1.35 million per ton. Compared with early March, 2008, steelprices have risen by at least VND 1.3-1.6 million per ton. The reason whyenterprises raise sale prices is due to the high increase of USD exchangeate on free market. Furthermore, the former price of imported steel

embryo is only below USD1.000 per ton, but at present, the imported pricehas been USD 1,140-1,149USD per ton. Not long ago, many enterpriseshad embryo and steel imported at ports and then, they were obliged to re-

export hundreds of millions of tons due to the fact that they lackedcustoms clearance fees and had no idea how to solve the output.

n the face of such situation, HCMC Peoples Committee have petitionedhe Government and central ministries and departments to considerinancial support structure for enterprises with the purpose of meetingconstruction demand in the coming time all over the country.

Edited by VietRees

Type of goods

(Source: HCMC Department of Finance)Unit

Price(VND)

Ha Tien Cement PCB40 50kg pack 82.000

Holcim Cement PCB40 50kg pack 72.000

Fico Cement PCB40 50kg pack 70.000

Steel bloom D6 kg 18.000

Tole (metal sheet) squared waves shape K1.07m, 3 dem

m 59.400

Binh Minh asphalt tube 27 x 1,8mm m 6.050

B40 iron net 1,2m in height, diameter 3mm m 39.600

Imported architectural glass (glazing) 5mm m2 115.000

Bao Loc brick ingots 190x80x80 Tuynel brick 1.200

Dong Nai wave roof tiles (grade A1) tile 3.550

Stone 1x2 m3 275.000

Stone 2x4 m3 240.000

Dong Nai decoration tiles (grade A1) tile 3.300

Thick, thin glazed tiles (grade A1) tile 1,000

Coric decoration tiles (30x30) m2 71.500

Coric porcelain tiles (5x20) m2 72.500


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This is a weekly newsletter issued by VietRees Vietnam Real Estate. This is shared with partners, clients, members (registered) and internal VietRees together with those who are concerning ornterested 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 responsibleor the occurring damage. Please visit the website www.VietRees.com for further Vietnam Real Estate information. VietRees states clearly the original sources and dates for your convenientracking or getting full information Should you need any queries or register to receive the newsletter please contact via marketnews@VietRees com

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SECTION C: UTILITIES & SPECIALITY NEWS

C1. REAL ESTATE BROKERAGE TRAINING CENTERSC4. REAL ESTATE MARKETING NEEDS TO BE MOREPROFESSIONAL

Currently, there are 40 competent entities that are authorized to open coursesand grant licenses in real estate brokerage, appraisal and trading floor operation.Here is the updated list: In Hanoi: Investment & Real Estate Market Consultancy- Vietnam Economic Association, Hung Vuong Human Resources TrainingCenter - Hoang Linh Tourism & Commerce JS Co., Finance & AccountancyTraining & Consultancy The National Finance Institute, Academy of Managersfor Construction-The Ministry of Construction, Real Estate & Land Survey Faculty- National Economics University, V.Impac Finance Investment JS Co., RealEstate Transaction Center-Hanoi Environment-Natural resources & HousingDepartment, Vietnam Valuation & Finance Consultancy Co., EDUPRO JS Co.,Vietnam IEC JS Co., Business Promotion & Training Center of Davilaw Patent-Trade Mark & Copyright JS Co., Hoa Phat Real Estate JS Co., Center forEconomics & Business Training & Consultancy-Research Institute - Ministry of

ndustry & Trade, Institute of Economics & Finance studies & training Ministry ofTechnology & Science, HAFI TRAINING Ltd.Co., Centre for Research Training &Development in Management Skills- Vietnam Chemistry Association, Institute ofEconomic Technology Management, Acitt JS Co., Phuc Ha Industrial Zonenfrastructure Development Investment JS Co., Phuong Nam Valuation Real

eastate & Training JS Co., Development Consultants & Managerial Training JSCo., An Thinh Finance Investment JS Co., Ha Noi Construction InvestmentConsultancy & Training JS Co., Vietnamese Valuation Association, Capitalnvestment & Commercial JS Co., Enterprise Administration Institute,

Management Studies & Training Center , VALUINCO. JS Co.. In HCMC: Ho ChiMinh city Open University, Tan Viet College of Economics & Technology-Education & Training Department of HCMC, Dream House Co., The Center ofConsultancyInformationTraining on Economic & Business Management (CIT),Economics & Technology Management Institute (IETM), Finance & Administrationnstitute, Phat Hung Real Estate Ltd. Co., HCMC. Finance & Economics

University, Nam Long Investment Consultancy & Training JS Co., Sacombank

Real Estate Co., Doanh Chu Training & Investment JS Co.. In Da Nang:nvestment & Construction JS Co. 579. In Can Tho: Tay Do University.

* JS Co.: Joint Stock Company

C2. FEATURED ARCHITECTURAL DESIGN COMPANIES

(1) SWA, USA, www.swavietnam.com, typical projects: The Landcaster, NhaTrang Center, Saigon Pearl Villa, Hoan Cau An Phu, SSG Villa. (2) Ong&OngCo., Ltd., Singapore, www.ong-ong.com, typical projects: Blue Diamond, VRGOffice building, Fico Tower, River Garden Tower, The Everich. (3) SurbanaVietnam, Singapore, www.surbana.com, typical projects: Sunrise city, Big C AnLac, Tan Tao Residence, Me Linh New Township - Vinh Phuc, Nhon uc WaterTown Nha Be, HCMC. (4)RSP Vietnam, Singapore, www.resp.com.sg, typicalprojects: The Vista, HCMC. (5) Archiects 61 Pte., Ltd., Singapore,www.a61.com.sg, typical projects: Kenton Residence, Vinataba Masterplan,HCMC. (6) DP Architects Pte., Ltd., Singapore, www.dpa.com.sg, typicalprojects: Villa Riviera, Saigon Sport Center City, Phu My Condominium, BIDV

Tower, Saigon M&C TowerC3. REAL ESTATE FOR THE LOW INCOME

Thousands of apartments for the low income are now coming soon.

* Sai Gon-Gia Dinh Real Estate JS Co. & Hoa Binh Phu Yen Development &nvestment JS Co. have cooperated in building a 15 floor condominium named

Thoi An with 1,000 units on an area of 15.1 ha in D.12 for the low income.

* Construction & Investment Co. 8 (CIC8) will invest about 10,000 apartments forhe low income in the next 5 years. * Keppel Land & Tien Phuoc Co. will build

1,900 apartments on 17.3 ha resettlement area at An Phu and Binh Khanh Ward,D.2. * HCMC House Development Fund has been accepted by its PeoplesCommittee on the project of home building for the low income on an 11.749 ha atHiep Thanh Ward, D.12. * HCMC Peoples Committee has accepted to advanceVND 50.5billion for the project of Vinh Loc B residential area with hundreds oftownhouse & 40 blocks of condominiums on a 30 ha area in Binh Chanh D.,providing inventory for resettlement programs.

VietRees, June 2008

Typical brand names of real estate investors and developersin Ho Chi Minh city.

In the quiet period of real estate market lately, VietRees made asurvey on real estate investment and development enterprisesimage in the customers mind to evaluate the trust degree andtheir brand positioning in the market.

Based on the surveys result, the enterprise can know their weakpoints and strong points in the comparison with others, and thenbuild up an effective marketing strategy to boost their businessactivities.

The survey is made on more than 150 customers bought orowned real estate which have just built and purchased within thepast 2 years in HCMC. According to the survey, there are 8 brandnames which are received the most awareness and comments.These are: Intresco, Him Lam, Bitexco, Hoang Anh Gia Lai(HAGL), Van Phat Hung (VPH), Linh Phong Conic, Phu My Hung(PMH) and Quoc Cuong Gia Lai (QCGL). Here are some typicalcomments from the customers:

* Bitexco is considered asthe most well-knowncompany.

* Intresco and Him Lam arethe 2 investors whoseprojects are expected tohave increase in price.

* Hoang Anh Gia Lai hasmany new projects. The projects they invest features publicfacilities. HAGL is commented as an enterprise with high prestigein the market.

* Van Phat Hung has new projects which are combined withpublics facilities, providing the customers variety of choices,contributing to the community. Their Phu My project iscommented as well design architecture.

* Phu My Hung is outstanding with humanity in harmony with thesurrounding living environment in their projects, good marketing

and customer service, and much contribution to the community.* Linh Phong Conic is famous with reasonable paymentschemes and well good commitment to customers, providinggood price real estate.

* Quoc Cuong Gia Lai is highly appreciated in protecting buyersbenefit and good commitment to the customers.

Real estate enterprises should focus on building their brandimage in customers mind as this is a long term strategy;therefore it needs an adequate investment. A good brand namewill help the business establish a good position, especially in thetough time of the market.

VietRees, June 2008

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Intresco

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VPH

HAGL

Bitexco

Himlam

QCGL

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VietRees Newsletter 36 Week3 Month06 Year08