Combined Market Overview

Presented byMr. Naim Khan-Turk – Associate DirectorCB Richard Ellis (Vietnam)
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Combined Market Overview COMBINED MARKET OVERVIEWPresented byMr. Naim Khan-Turk – Associate DirectorCB Richard Ellis (Vietnam)Quarter 4 2007 Agenda HCMC: HA NOI: OFFICE MARKET OFFICE MARKET CONDOMINIUMS SERVICED APARTMENT SERVICED MARKET APARTMENT MARKET HOTEL MARKET RETAIL MARKET RETAIL MARKET HOTEL MARKET RESIDENTIAL MARKET INDUSTRIAL MARKET OUTLOOKCB Richard Ellis | Page 2 WHAT HAS BEEN DRIVING THE PROPERTY MARKET SINCE 2003?• Limited capital markets• An emerging condo market in Hanoi and HCMC• Conspicuous consumption• Ability to borrow from local banks at 10-11% per annum• Consistently rising GDP and FDI• China + 1, APEC, the Stock Market and entry to WTO has put Vietnam on the radar screen, coupled with the ML reports and the Euro Money Conference in March 2006/2007 CB Richard Ellis | Page 3 MAP OF VIETNAMCB Richard Ellis | Page 4 VIETNAM TODAY• No Starbucks and No MacDonalds• World leaders in pepper, coffee, cashew, shoes, fish/prawns, oil & gas exports• No shortage of land, just good sites• “If you build it, they will come” no longer exists• Many similarities to China in the early 90s in terms of work ethic, chaos on the streets, migration of work force and market driven decisions• Traffic, complete absence of infrastructure, MRT/MTR, bridges and tunnels CB Richard Ellis | Page 5 DEVELOPMENT OPPORTUNITIES Source: Saigon TimesCB Richard Ellis | Page 6 PROPOSED MRT LINES HCMCCB Richard Ellis | Page 7 VIETNAM AT A GLANCECB Richard Ellis | Page 8 WTOCB Richard Ellis | Page 9 HO CHI MINH CITY Source:CBRECB Richard Ellis | Page 10 AVERAGE REGIONAL RENTAL AND OCCUPANCY COST PRIME OFFICE RENTS AND OCCUPANCY COST IN KEY ASIAN CITIES (As of Q4.2007) Avarage market rents Total occupancy cost (US$/sqm/month) (US$/sqm/month) (unit: US$) 141 126 90.5 77 75 76 76 63 48 48 50 45 56 39 41 45 37 36 29 28.5 24.5 23 22 23 24 21.5 26 21.5 21.5 13 14 16.516.5 8.5 Hong Kong Bankok Beijing Tokyo Jakarta Manila Lumpur Guangzhou Shanghai Taipei Seoul N ew Delhi Sydney ...