MARKET SNAPSHOTS WEEK 29/2024
Central Retail built a commercial center of nearly 16,000 sqm in Hung Yen
On the afternoon of July 7, 2024, the conference "Announcing planning and investment promotion in Hung Yen province" was held, and the province's authorities awarded the "Decision approving investment in implementing the GO! Hung Yen shopping mall project" for Central Retail Group in Vietnam. The project is located in Hien Nam ward, Hung Yen City, with a total area of around 16,000 sqm. Over 8,600 square meters are dedicated to the building of the two-story commercial complex, the remaining space is used for outdoor parking lot as well as other auxiliary work. It is built on Jun 26th and will be operated in 2025. It is anticipated that this project would generate hundreds of direct and indirect jobs, enhancing the standard of living for residents in Hung Yen and the surrounding provinces. The GO! supermarket network will provide over 40,000 products to the local population, creating greater prospects for the development of Vietnamese commodities, particularly agricultural products. The province's OCOP products might potentially be extensively spread across the nation.
WHA Group invested 50 million USD to build the second industrial park in Nghe An
The Standing Committee of the Nghe An Provincial Party Committee has approved the policy allowing WHA Group to perform investment operations. Thailand's largest firm in logistics and industrial utility solutions, through its subsidiary WHA Industrial Zone Nghe An Joint Stock Company, will make a significant investment in WHA Industrial Zone 2 - Nghe An with 183.37 hectares. The project has a 50 million dollar total investment capital and a 50-year operating duration starting on the day the investment policy was approved. The WHA Industrial Zone 2 - Nghe An construction site is located in zone D - Nam Cam Industrial Park, Nghi Loc district. It consists of two areas: Area 1 is 118 hectares in Nghi Hung commune and Area 2 is more than 65 hectares in Nghi Dong commune. Its purpose is to build industrial park infrastructure that will serve as a clean land fund and synchronous infrastructure to attract secondary projects for investment, manufacturing, and commercial operations. The construction and implementation are anticipated to take place during the first quarters of 2025-2028.
Another Chinese company invests in a yarn production and textile dying operation in Nam Dinh
Huajin Textile Printing and Dyeing Co., Ltd., an investor of Jinnor (Hong Kong) Limited, has recently received a Project Investment Registration Certificate from the Nam Dinh Provincial Industrial Park Management Board. This permits the company to produce yarn and dye textiles in the Rang Dong Textile and Garment Industrial Park located in the Nghia Hung district of Nam Dinh province. An investor from Hong Kong (China) is implementing a project on 35,300 sqm of land with a total investment capital of 9 million USD. The company's capital accounts for 33.33% of the overall investment capital. The project will be operational for 41 years starting on the date the Investment Registration Certificate was issued. The project is anticipated to begin construction in the first half of 2025. The project will begin official operations in October 2025. Nearly 50 million sqm of cotton, poly, nylon, viscose, and tencel fabrics will be produced annually on average after construction is finished. The Chinese enterprise's project in Rang Dong Industrial Park is consistent with Nam Dinh province's industrial park planning orientation of developing green - modern - sustainable industry, contributing to the motivation to promote socioeconomic development in Nghia Hung district in particular and Nam Dinh province in general.
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King Crown Infinity project has entered the sprint phase
As of the end of June, King Crown Infinity project, which is being developed by BCG Land Joint Stock Company, a member of Bamboo Capital Group, had finished building five out of the five basements and was in the process of beginning work on the body. The project is located at 218 Vo Van Ngan Street, Binh Tho Ward, Thu Duc City. It is at central location in Thu Duc city provides access to various services and values, including commercial center, local markets, and educational institutions at all levels. Furthermore, this is a high-density neighborhood with bustling business and trading activities. The project spans up to 12,652 sqm and consists of two blocks, The Apollo and The Artemis, each standing 30 stories tall and housing 729 units, including 1BR, 2BR, 3BR, duplex, and penthouse. Currently, phase 3 is expected to open for sale in Q3/2024 and handed over in Q1/2025. Besides, the average asking price of apartment ranged from 3,800 - 4,200 USD/sqm.
Nghi Son Economic Zone’s No.15 Industrial Park has received planning permission
The Industrial Park (IP) No. 15, Nghi Son Economic Zone, 1/2000 scale development zoning project has been approved by the Thanh Hoa Provincial People's Committee, according to Decision No. 2630/QD-UBND, dated June 25, 2024. The planning area is approximately 721.09 hectares and spans Tan Truong, Phu Lam, and Tung Lam communes, Nghi Son town. Land for industrial park building is 691.45 hectares, while protected forest land and water surface are 29.64 hectares. There are two zones in Industrial Park No. 15: Zone A (Thanh Hoa I Solar Power Plant project area) covers around 229.18 hectares in the north of the industrial park, while Area B (Dong Vang Industrial Park) covers approximately 491.91 hectares in the south. The establishment of industrial parks to attract investment and meet investor needs, combined with synchronous investment in infrastructure connecting industrial parks to other functional areas in the Nghi Son Economic Zone and surrounding areas, will contribute to the socioeconomic development of Thanh Hoa province in particular, and the North Central region in general.
Official ownership and rebranding of Saigon's most exquisite hotel
Marriott International has officially signed a contract to manage Mapletree Investments' hotel and serviced apartment complex in Ho Chi Minh City. The mPlaza hotel and apartment complex will so formally become the JW Marriott Hotel & Suites Saigon upon its return to the "new owner." The brand change will take place in September 2024. Prior to being renamed Kumho Asiana Saigon, mPlaza was regarded as the most exquisite hotel in all of Vietnam. For 215 million USD, Mapletree purchased this project in 2016. This was also Mapletree's largest finished and operational real estate project sale in Vietnam at the time. This hotel will become the third JW hotel in the Vietnamese market following Hanoi and Phu Quoc upon mPlaza's transfer to Marriott International. After changing its name, the hotel will continue to expand its services, eventually becoming a high-end resort in the middle of the city.
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5moGood to know!