Vietnam Expects V-Shaped Post-Pandemic Economic Rebound – Real Estate to Thrive As Demand Remains Strong Among Locals and Foreigners
HONG KONG, May 20, 2020 /PRNewswire/ — The arrival of the COVID-19 pandemic in the first quarter of 2020 saw global economies going into recession. Without a single COVID-19 death, Vietnam started easing its coronavirus lockdown in as early as April. While some trading and investment activities may have been on hold, Vietnam’s strong economic growth has proven to be unstoppable and the strongest among Southeast Asia. The outstanding economic performance of Vietnam will not only benefit businesses in general, but also reinforce the upside prospect of the real estate market. Vietnam’s vibrant society with a growing middle-class and expanding expatriate population is driving growth within Vietnam’s real estate market.
Mr. Kingston Lai, Founder & CEO of Asia Bankers Club gives his insights, "The shift of multi-national companies to Vietnam has resulted in an expanded pool of local and expat professionals, who look for high-quality homes in prime locations. Commercial districts with the influx of fresh foreign capital as well as districts with new MRT lines promise a lucrative prospect for international investors. In Hanoi, lakeside properties in Hoan Kiem Lake, West Lake and the city’s ‘new West Lake’ Yen So, are favored by the middle-class and foreign investors."
Asia Bankers Club has partnered with acclaimed developer Gamuda Land as one of the sole and exclusive agents to host an exclusive preview of Central Residence, situated on the shoreline of the meticulously-landscaped Yen So Lake in Hanoi. With superb location by the future MRT station and luxury shopping center, international schools and everyday amenities, Central Residence will be where the city’s elite class calls home. The apartments are priced from USD 113,000 / HKD 880,000.
At a recent government meeting, Prime Minister Nguyen Xuan Phuc stated that Vietnam’s GDP must hit and excel 5 percent in 2020, much higher than the 2.7 percent forecasted by the International Monetary Fund. Vietnam has scored an impressive GDP growth of 3.8 percent in the first quarter of 2020 despite the impact of the pandemic. The forecast growth of a solid 6.8 percent in 2021 by Asia Development Bank’s Asian Development Outlook 2020 put Vietnam on top of the list of the fastest-growing economies in Southeast Asia. The V-shaped recovery is not a common sight since many of the global economies were on the verge of fallout even before the attack of coronavirus.
According to the latest quarterly report on the domestic housing and real estate market from the Ministry of Construction, Hanoi’s average apartment price rose 1.02 percent year-on-year in the first four months, and 3.5 percent in Ho Chi Minh City. Demand for housing remains high, so the market could recover rapidly after the coronavirus is contained.
Central Residence in Gamuda City, Hanoi
In the heart of Gamuda City, Gamuda Central is the gateway to a convenient, yet modern lifestyle. Built on a 19-hectare site, Gamuda Central hosts the Green Park, a luxury shopping mall and branded retail shops, offices, and a hotel and convention center. Gamuda Central houses also the Lifestyle Pedestrian Street featuring a diverse and curated selection of food and beverage options and retail boutiques. Gamuda Central will be a metropolis where leisure, shopping, enjoyment, dining and work are combined into an abundance of activity, fun and excitement.
As the only residential precinct in Gamuda Central, Central Residence will benefit from its vibrant surrounding. Future residents can enjoy rare lakeside- and green-living in one of the largest parks in the heart of Hanoi, transformed into a relaxed and holistic environment with rivers, lakes, and waterfalls, to cater a care- and stress-free lifestyle. In addition to the mental health benefits of living at Gamuda City, the township’s vast outdoor space promotes a range of physical health benefits.
Located in Hanoi’s prime Hoang Mai district, the 500-hectare Gamuda City is a 20-year-long masterplan with a total investment capital of USD 3 billion. This lifestyle township, renowned for its meticulously-landscaped Yen So Park, is situated along Hanoi’s Ring Road 3, 8-minute walk from a future MRT station and a 10-minute walk to the transportation hub, where residents will be easily connected to Hanoi’s CBD and industrial parks.
Gamuda City is the first project in Vietnam to reserve 50 percent of the site to foster an urban greening vision with landscaped gardens and facilities to protect the environment. Gamuda City’s Yen So Park is an iconic and world-renowned thematic garden built to represent Gamuda Land’s leading expertise in township development. The township’s infrastructure system includes the Yen So sewage treatment plant, one of the largest modern wastewater treatments in Vietnam. Infrastructure and communal projects in Gamuda City were completed ahead of any residential precincts, in order to deliver a well-rounded community for its residents. The planning and design of Gamuda City was awarded "Best Housing Development Asia" at the PropertyGuru Asia Property Awards in 2019.
Central Residence will be the second residential development inside Gamuda City after Gamuda Gardens. Located in Gamuda Central, the bustle and hustle of the township, Central Residence is an ideal choice for those who yearn for a balance between modernity and nature. With 2,605 units available, owners are offered options from open-layout studios to 3-bedroom family homes. This gated community is equipped with a 24-hour security system and luxury amenities including a temperate indoor swimming pool, gym center, yoga studio, gardens, coffee shop, kids’ rock-climbing gym, pet playground and water activities.
Exclusive Preview Gamuda City Phase 2 — Central Residence will be held on May 30th and 31st, 2020 on 27/F, Park Lane Hong Kong. The seminar will cover the promising growth of Vietnam and how investors can participate in this growth story. Private Consultation with experts can also be arranged for a better understanding of the topic. For more details, please refer to Asia Bankers Club’s Website (https://bit.ly/2zhfPOm).
To download project images, please visit https://bit.ly/2Xgwee7 .
About Gamuda Land
Established in 1995, Gamuda Land is a stock exchange listed corporation based in Malaysia. Its market value, in 2017, is estimated to be $13 billion ringgits ($3.3 billion USD). The corporation’s wide spectrum of business scope includes construction on MRT infrastructure, freeways, airport runways, railways, tunnels, sewage plants, and reservoirs and dams. Gamuda Land specializes in developing integrated townships. Many prominent projects in Malaysia are constructed by Gamuda Land: the SBK railway, LDP freeway, and a smart tunnel which is used as a city drainage and vehicle bypass. The corporation leads in architectural technology worldwide. It has also built large infrastructures and property projects in Vietnam, Australia, Taiwan, India, Singapore and Bahrain, building upon its already existing reputation across the industry worldwide.
About Asia Bankers Club
The Asia Bankers Club is an investment club for banking and finance professionals in Asia. With a vast member base, the Asia Bankers Club organizes events for its members and provides physical assets for investments, such as properties, fine wines, art, timepieces, and collectibles. Our members are from top tier investment, private and consumer banks, asset management companies, private equity firms, hedge funds, and sovereign wealth funds primarily located in key financial centers.
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