Vietnam Residential Real Estate News

Related Real Estate Industry News

• September 2024: In Bengaluru, WeWork has finalized agreements to lease 1.43 lakh sq ft of office space to technology leaders IBM and OpenText. These transactions were executed at WeWork's facility situated in Embassy Golf Links Business Park, a prominent commercial hub in the city. The leased space is expected to cater to the operational and expansion needs of both companies, reflecting the growing demand for flexible office solutions in the region.
• September 2024: IndiQube, a leading workplace solutions provider in India, has launched a first-of-its-kind experience center for office interiors in Bangalore, marking a notable advancement in the office space market. Named 'IndiQube Canvas', this 25,000 sq. ft. facility on Outer Ring Road addresses the rising demand for flexible and innovative office spaces. By showcasing modern design concepts, technology integration, and sustainable solutions, it enables businesses to explore and customize office interiors, aligning with the evolving trends in the office space market.

• December 2024: CRU, a global leader in commodities, has inaugurated a new office in Riyadh, Saudi Arabia. This move marks a significant recent development in the flexible office space market of Saudi Arabia, as the country witnesses growing demand for adaptable and innovative workspace solutions. By establishing its presence in Riyadh, CRU aims to leverage the evolving market dynamics while reinforcing its dedication to providing top-tier expertise to its expanding clientele in Saudi Arabia and the broader MENA region.
• October 2024: Asia's leading premium flexible workspace provider, The Executive Centre, has made its debut in Saudi Arabia, unveiling its largest centre yet in Riyadh's King Abdullah Financial District (KAFD). This pivotal expansion not only underscores the company's growth trajectory but also resonates with Saudi Arabia's Vision 2030, an initiative aimed at diversifying the nation's economy and fostering a vibrant business landscape.

• November 2023: In November 2023, Tilal Real Estate unveiled the Heart of Khobar, a monumental SAR 6 billion (1.6 billion USD approximately) venture nestled in Al Khobar's Al Rawabi neighborhood. Covering an expansive 268,813 sq.m., this development boasts a blend of residential, commercial, and recreational amenities, all crafted to promote a sustainable and pedestrian-centric urban lifestyle. With its array of hotels, shopping malls, offices, and co-working spaces, the project seamlessly melds living, work, and leisure, echoing the aspirations of Vision 2030. Ultimately, this initiative is set to bolster Khobar's stature as a premier hub for luxury living and investment opportunities.
• March 2024: Launched in March 2024, The Baccarat Residences Diriyah is a collaboration between Baccarat and the Diriyah Gate Development Authority (DGDA). This ultra-luxury project, nestled in Riyadh, boasts nine exclusive villas. Ranging from 1,029 to 2,438 sq.m. and featuring 3 to 5 bedrooms, these villas seamlessly blend Najdi heritage with a touch of French elegance. Each residence is equipped with private pools and courtyards, and residents enjoy privileged access to amenities at the Baccarat Hotel, including its renowned spas and restaurants. With an anticipated completion date set for 2027, underscoring their significance in Saudi Arabia's luxury real estate landscape.

• October 2024: Sales Rain Inc. reaffirms its dedication to global expansion by inaugurating a new office in Medellín, Colombia. This marks a pivotal moment in the evolving journey of Sales Rain S.A.S., underscoring its trajectory of growth and achievement. With this strategic initiative, the company bolsters its foothold in Latin America, delivering innovative workspace solutions and broadening its international reach.
• January 2024: According to data from The Instant Group, one of the world's largest marketplaces for flexible workspaces, demand for flexible workspaces in Latin America has surged by 29 percent year-over-year, with Mexico City witnessing an even more pronounced increase of 163 percent. In line with its global marketplace strategy, The Instant Group is entering the Mexico City market. This move will broaden the range of flexible products and services available in the region, encompassing membership plans, virtual offices, meeting rooms, flexible office bookings, managed offices, data, and consulting services.

• June 2024: Nam Long Group, one of the leading player in Vietnam's real estate sector, has divested a 25% stake in its sprawling 45-hectare Nam Long Dai Phuoc project. The buyer, Nishi Nippon Railroad, hails from Japan and the deal was valued at VND 662 billion (USD 26 million). Nam Long Group, which trades on the Ho Chi Minh Stock Exchange under the ticker NLG, has projected a post-tax profit of VND200 billion (USD 7.86 million).
• March 2024: A consortium of companies from Vietnam secured a 55% stake in SDI Investment and Trade Development Company, a subsidiary of Vingroup. The deal, valued at USD 982 million, is significant for the real estate and mortgage market, as SDI holds an indirect 41.5% stake in Vincom Retail, a prominent entity under the Vingroup umbrella.

• October 2024: GCC investors are strategically focusing on the UK real estate market, prioritizing asset enhancement and sustainable investments to drive strong returns and long-term growth. Over the past decade, GCC investments in UK commercial property averaged USD 3.4 billion annually. Looking ahead, these volumes are projected to exceed USD 4 billion annually, supported by robust market fundamentals.
• March 2024: Schroders Capital has introduced UK Operating Hotels, broadening its operational real estate strategies. The firm has secured an initial commitment of EUR 100 million (USD 109.13 million). This strategic initiative addresses strong inbound investor demand, leveraging the success of its pan-European sister fund.

• December 2023: Ashwin Sheth Group planned to expand its residential and commercial portfolio in the MMR region.
• November 2023: Tata Realty and Infrastructure, a wholly-owned subsidiary of Tata Sons, planned to grow its business with over 50 projects in major cities in India, Sri Lanka, and the Maldives. The projects have a development potential of more than 51 million square feet.

• September 2023: ValuStrat, an esteemed international valuation consultancy, launched new operations in Qatar. This strategic move not only marked ValuStrat's foray into the Qatari market but also enhanced its service repertoire.
• March 2023: The Investment Promotion Agency Qatar (IPA Qatar) announced a collaboration with Knight Frank, a global real estate consultancy based in the United Kingdom, to promote Qatar's real estate industry to international investors.

• November 2023: The long-delayed Blue City project in Oman was relaunched under the auspices of the Grand Blue City Development Company, which is backed by the sovereign wealth fund Oman Investment Authority (OIA). The project is also known by its Arabic acronym, BAT.
• July 2023: Oman Tourism Development Company (Omran) announced plans to seek a multidisciplinary consultant to undertake a concept masterplan for the entire site and to provide a detailed masterplan and detailed architectural design guidelines for the mixed-use town of Madinat Al Irvine East. The mixed-use town center will likely cover 175,000 sq. m and feature a number of modern mixed-use developments. The development of the town center will help position Oman as a premier MICE and business tourist destination.

• April 2024: Two historical buildings in the Pearl’s Hill vicinity are set to be demolished to make way for new housing developments. The government plans to build 6,000 new homes in the area over the next decade. The third housing site is located at the intersection of Chin Swee and Outram roads, while the white site sits primarily atop the underground Outram Park MRT station. The 2.9 ha white site, with a plot ratio of 6.3, has condominium units and long-term serviced apartments.
• March 2024: To meet the demand for homes, the government decided to launch a new housing area in Yishun and may develop a new residential neighborhood at Gillman Barracks. About 10,000 homes will be built in the new Yishun estate of Chencharu, situated near Khatib MRT station. At least 80% will be public housing, with the first Build-to-Order (BTO) project comprising 1,200 units of two-room Flexi to five-room flats to be launched in 2024.