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Rents for coworking office space in HCMC decreased 12 percent year-on-year last year due to the impacts of the Covid-19 pandemic, a report says. The occupancy rates of coworking office space in Grade A and B buildings last year plunged by 7 percentage points…
HCMC’s average hotel occupancy rates dropped 54 percentage points year-on-year to 20 percent last year as Covid-19 travel restrictions hit foreign arrivals, a report says. Over 3,600 hotel rooms were closed last year as the number of foreign tourist arrivals…
The Hanoi-HCMC route is the world’s second-busiest in November after South Korea’s Jeju-Seoul, according to British aviation analysis company OAG. The flight route connecting Vietnam’s two largest cities, which takes around two hours, has nearly 893,000 seats…
The average rent for serviced apartments in HCMC has fallen to a five-year low as the Covid-19 pandemic stifles demand. The $23 per square meter per month price tag in the third quarter marks a 10 percent year-on-year fall, according to data compiled by real…
The Ho Chi Minh City Real Estate Association has called for regulating accommodation-sharing services like Airbnb for better management and taxation. Such services have become popular in Vietnam in recent years as they help meet the large demand for low-cost…
HCMC has proposed that a subsidiary of Samsung be defined as an export processing enterprise to enjoy zero import and export duties. The city said in a recent proposal to Prime Minister Nguyen Xuan Phuc that switching the label of TV screen producer Samsung…
The HCMC Lottery Company Ltd. made pretax profits of over VND1.3 trillion ($56.29 million) last year, up 13.7 percent from 2018. Its revenues were up 15.2 percent to VND8.9 trillion ($385.4 million), it said in a release. Three percent of its revenues came…
Coworking startup WeWork plans to open two more offices in Ho Chi Minh City’s District 1 this month. One of them will be at Lim Tower 3, and rents will start at VND6.9 million ($297) per month for a single-seat, according to the company’s website. Another…
HCMC’s proposal to impose a special consumption tax on mobile phones has drawn protests from experts, who said they are not a luxury product. Dr. Nguyen Thanh Binh of the Ministry of Planning and Investment’s Institute of Policy and Development said the…
A new index puts Hanoi 13th and HCMC 15th on the list of 20 most expensive Southeast Asian cities. The new Cost of Living Index for the region has been compiled by Numbeo.com, the world’s largest database of user contributed data about cities and countries…
Hotel room rates in Hanoi and HCMC, at around $110 a night, are the second most expensive in Southeast Asia behind only Singapore. Real estate services firm CBRE Vietnam said at a recent conference that the performance of the four- and five-star hotel…
The Tan Son Nhat Airport could get a third terminal and other facilities at the cost of over $496 million. The Airports Corporation of Vietnam (ACV), which manages and operates civil airports in the country, has submitted to the Ministry of Transport a…
Vietnam’s bullet train will cut travel time between Hanoi and Saigon to five hours from the current 24. The railway project management board has submitted a pre-feasibility study to the Ministry of Transport, which quotes transport consultants’ estimate that…
With office rents rising constantly for several years, HCMC has moved into the top 20 Asia-Pacific office rent markets. Grade-A office rents in Ho Chi Minh City have reached a five-year peak of $936 per square meter a year, according to property service firm…
The Ho Chi Minh City administration has decided that no high-rise apartment projects in the dowtown will be approved until 2020. Instead, priority will be given to repair and renovation of old apartment buildings. According to the housing development plan for…
Hong Kong-listed Chinese fashion retailer Shanghai La Chapelle is preparing to launch in Vietnam. A huge La Chapelle Vietnam standalone flagship store is under construction, next to Ho Chi Minh City’s VivoCity mall, facing to the front street of Nguyen Van…
