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By LocaLs, for LocaLs - your MonthLy hcMc Gazette

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MAY LocAL InsIght:

real estate

Volume 7 | May 2016

top housing know-hows

top real estatewebsites

/ “Buy land, they’re not making it anymore” - mark twain /

5 153

a guide to hCMC’s distriCts

#iAMhcMc news

#iAMHCMCBy Locals, For Locals

editor-in-ChiefPatrick Gaveau

Content Manageraleksandr smechov

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illustratorzoe osborneLuke nguyen

designersPham Mai trang

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news around saigonThe following news items are provided by

safety for tourists

ho chi Minh city has once again vowed to

strengthen security after a downtown robbery

made headlines in March. a 21-year-old egyptian

woman had her bag snatched by two men while

walking with a friend in District 1. her story

and several photos of her crying helplessly went

viral, prompting the city’s officials to make a

public apology and announce stronger measures

to protect visitors. new police data showed that

criminals did prey on tourists: nearly half of the

victims of robberies reported in the first quarter

were foreigners.

air quality concerns

hanoi’s air pollution has worsened over the

past decade. the real-time air Quality Index

recently ranked pollution in the capital city as

“unhealthy” and at times “very unhealthy.” that

means outdoor activities should be limited for

everyone. Local authorities warned about the city’s

air quality in 2004 when the level of pollutants

first went beyond the safe limit. following studies

have confirmed that the once green city has been

heavily polluted.

bad Vietnamese tourists

the Vietnam tourism association is set to

publish a guide including 30 dos and dont’s

that Vietnamese tourists can find useful when

traveling to a foreign country. Most are just

simple rules about queuing, saying sorry and

thank you, public hygiene, or tipping. the

industry is trying to change the “awful” behavior

of many Vietnamese tourists abroad. More than

six million Vietnamese traveled overseas last year,

according to official figures.

breakthrough discovery

Vietnamese and russian archaeologists have

discovered artifacts that they said belonged

to ancient humans around 800,000 years ago

in the central highlands. the traces of homo

erectus or “upright man” included fossils and

more than 200 stone tools. the discovery from

a two-year excavation has been described by the

scientists as “the biggest and most important”

archeological breakthrough not only for Vietnam

but asia.

bridge disaster

the transport ministry is working around the

clock to build a us$13.5 million rail bridge across

the Dong nai river to replace the century-old

Ghenh Bridge, which was struck by a vessel and

collapsed in March. Works are slated to complete

it by July 15. the disaster severed the country’s

only north-south rail link. Passengers heading

north now have to take a bus at the saigon

railway station to Dong nai’s Bien hoa station

and resume their journey from there.

new art center

a 1,000-square-meter art center has been

inaugurated in hcMc’s District 2, becoming

the biggest of its kind in the city. the factory

contemporary art center, or fcac, on nguyen

u Di street offers a much-needed venue for art

exhibitions, visual performances and private

spaces for team working and art creations. a

second center is expected to be opened in hanoi

soon. three months, followed by south Korea and

Japan. tourism revenue increased by more than

21 percent to over VnD109 trillion ($4.9 billion)

in the first quarter.

Photo by Bach Duong

This month we explore the hot topics of

real estate: are we facing another bubble?

What are the real estate challenges HCMC

faces? Shall we buy now or later? Are

foreign investors finally welcome? And is

green construction heading our way? Read

on, to uncover these questions and more.

1 | subscribe at iamhcmc.com/gazette

#iAMhcMcnews

new leadership

the national assembly has elected Deputy Prime

Minister nguyen xuan Phuc as the country’s new

prime minister. Phuc, 62, replaced nguyen tan

Dung, who officially stepped down in april after

serving two terms. the legislature has also sworn

in Minister of Public security tran Dai Quang,

60, as the new president. nguyen thi Kim ngan,

62, has become the country’s first parliament

chairwoman. the newly-elected leaders pledged

to improve Vietnam’s business climate and step

up anti-corruption efforts.

pedestrian zone

hcMc is considering banning vehicles from

entering the famous backpacker precinct,

including Bui Vien and Pham ngu Lao streets,

after 7 p.m. every day. the ban has been supported

by many officials and business owners who believe

the area ticks all the boxes to become a vibrant

pedestrian-only tourist zone. It will also be safer

for tourists to walk around and explore the many

shops and eateries if cars and motorbikes are

banned, they say.

Competitiveness ranking

hcMc has slipped two places to the 6th position

on the 2015 Vietnam Provincial competitiveness

Index, an annual survey conducted by the Vietnam

chamber of commerce and Industry and the us

agency for International Development. a total

of 11,700 local private and foreign companies

around the country were asked to rate 63

provinces and cities in terms of ease of doing

business, economic governance and administrative

reform. the central city of Da nang topped the

list for the third year in a row, followed by the

Mekong Delta province of Dong thap and the

northern province of Quang ninh. hanoi inched

up two spots to 24th.

being good neighbors

under new rules introduced by the construction

ministry, residents of apartment buildings are

now banned from swearing in public, fighting

or being too loud. they are also not allowed to

hang clothes on their balcony or windows. critics

have dismissed the rules as “impractical,” saying

that similar regulations issued internally by many

buildings in Vietnam are not easy to enforce.

yellow big bus

hcMc has launched a new bus service between

tan son nhat airport and its central business

district. the so-called “high quality” service uses

brand new buses imported from south Korea

and is operated by an english-speaking staff. the

yellow buses run between 5:30 a.m. and 1:30

a.m. the next day, connecting the airport and

popular sites such as Ben thanh Market and the

backpacker streets. tickets cost VnD20,000 for

a full journey. the new unsubsidized route comes

amid disappointing public transport figures. the

number of bus passengers dropped 5.6 percent

to 134.7 million in the first quarter, compared to

the same period last year.

public urination crackdown

officials in District 1 appear to have had enough

with public urination. In March they started a

crackdown, sending out officers to catch and fine

violators. offenders were fined VnD200,000

($9) and ordered to clean the spots they had

urinated on. there are more than 200 public

toilets in the city, many of which fail to meet

required hygiene standards. Many residents tend

to choose to either restrain themselves or simply

sneak behind a tree, a wall or a bus.

underground shopping zone

Japan’s toshin Development has sought hcMc’s

permission to build a $377-million underground

shopping zone between two stations Ben thanh

and saigon opera house of the upcoming Ben

thanh-suoi tien metro line. If approved, works

on the four-story structure will start in late 2019

and finish in early 2024, according to the plan.

toshin suggested the city contribute around

60 percent of the total investment.

record tourist arrivals

foreign arrivals to Vietnam rose 20 percent from a

year ago to nearly 2.46 million in the first quarter,

according to new data from the General statistics

office. that was the biggest number ever recorded

for the period and a strong recovery after a small

annual decline of 0.2 percent in 2015. Mainland

china was Vietnam’s biggest market in the first

three months, followed by south Korea and

Japan. tourism revenue increased by more than

21 percent to over VnD109 trillion ($4.9 billion)

in the first quarter.

Photo by Minh nam

Da nang city

one Pillar Pagoda

2

guide to the districtsApart from work and social life, finding quality accommodation in a suitable area of town is one of the most crucial factors in choosing a place to live in

HCMC. The city has a plethora of options available to suit all tastes and budgets from low-cost studio apartments to international-standard luxury homes.

The decision will depend on several factors: what type of accommodation you prefer to live in and can afford, what part of town you want to live in, and what

amenities come with your future home. Different districts offer different vibes, from the hectic night-life and tourist buzz in D1 to the almost suburban peace

of D2 about 20 minutes away from the central business district (CBD).

district 2

Wards: 11

area: 49.74km2

Population in 2011: 136,497

rife with modern high-rise developments, D2

is the up and coming district in town. Passing

under the saigon tunnel and seeing the dust in

the distance will give an indication of the city’s

plans to create a second cBD, about a 20 minute

drive from D1. expat enclave thao Dien ward

contains two of the most prestigious international

schools, villas, and compounds along with a fair

bit of western restaurants and bars.

district 1

Wards: 10

area: 7.72km2


the reverse L-shaped D1 is the location of

hcMc’s central Business District (cBD) and

where the bulk of the city’s Western restaurants,

clubs, and bars, along with tourist destinations, are

situated. It is not surprising that rental prices here

are the highest in the city, while backpacker and

tourist accomodation is plenty. another notable

area of D1 is what is described as hcMc’s Little

tokyo located on Le thanh ton street.

district 3

Wards: 13

area: 4.92km2


Bordering D1 in the centre of hcMc, D3 is

quieter, more local, and a touch more scenic

than its manic neighbour. the tree-lined avenues

snake around a smattering of foreign consulates,

french colonial buildings, and up and coming

dining venues, creating a modern and progressive

atmosphere to compete with D1’s plethora of

tourist attractions and historical monuments,

buildings and museums.

#iAMhcMc LIvIng


district 7

Wards: 10

area: 35.69km2


D7 feels like a sort of alternate universe, especially

in contrast to other sections of town. the streets

are wide and the atmosphere is mostly free of the

blaring horns of downtown saigon. the district

is home to a large population of Korean expats

and is the place to go for great Korean food.

Inside D7 is the satellite city of Phu My hung

which is characterised by tall apartment blocks

and modern shops and restaurants.

binh thanh district

Wards: 20

area: 20.76km2


this district is heavily used for transit from

Districts 1 and 2. however, it has become a

magnet for higher-end apartment blocks such

as the Manor and saigon Pearl due to its close

proximity to D1. though the area is known for

being densely populated, it is also home to the

thanh Da Island area which has some of the

greenest spaces in town. Binh thanh is a great

district for cheap, delicious street food.

district 5

Wards: 15

area: 4.27km2


Just to the west of D1, this district is also known

as cholon, and is home to the city’s chinese

population. a teeming hub of activity, this

district hosts the largest market in Vietnam, a

deluxe shopping mall, along with several chinese

pagodas. It is also known for its cheap and

delicious chinese restaurants, and can be easily

visited on the no.1 bus from cong Quynh street.

Definitely worth a visit!

phu nhuan district

Wards: 15

area: 4.88km2


Bordering D1 but not at all central, Phu nhuan is

about a 15 minute drive from the central business

district (cBD). this bustling district has one of

the highest population densities in the city and

can be a bit manic to live in. But the streets are

interesting, the people friendly and the street food

is delicious, and if you are looking for some escape

from the madness, Phu nhuan has a number of

quiet parks to chill out in.

tan binh district

Wards: 15

area: 22.38 km2


tan son nhat International airport is located in

this district. once the largest district in the city, it

was broken up in two parts to create Binh tan and

tan Phu districts in 2003. the Japanese shopping

mall, aeon Mall is also located here and is known

as one of the best malls in town.

find out more about living, in the hcMc resident

Guidebook, available at annam Gourmet.

district 4

Wards: 15

area: 4.18km2


the smallest district in hcMc, D4 is sandwiched

between Districts 1 and 7. this densely populated

district had a reputation as one of the roughest

districts in the city due to its past with organised

crime but has cleaned up quite a bit in the past few

years. It is also known for its cheap eats and has

some of the best street food in the city. Be careful

with your possesions here but don’t be afraid to

visit this beautiful slice of real hcMc life.

#iAMhcMcLIvIng

4

#iAMhcMc LIvIng

Kona Real Co., Ltd

housing know-howThere is some general useful advice when living in Ho Chi Minh City than any resident should keep in mind. We candidly answer a few pressing questions those residing in the big city might have - before it’s too late.

what should you pay attention to when living with a vietnamese family?

Meals are generally eaten at fixed hours and

often earlier than in Western countries. Lunch is

at 11:30 a.m. and dinner around 6:00 p.m. there

might be some food under a plastic strainer and

rice kept warm in a cooker for family members

who work odd hours. If you are around, you will

be invited for dinner. If you are feeling homesick

for some Western food, it is probably best to have

some cooking skills as they probably don’t know

how to cook food from your country, and they

may be (politely) delighted by your offerings. If the

family is feeding you, it is appreciated if you help

with some household bills. Vietnamese tend to get

up early and it might not be appropriate to come

home too late after a night out. you will be asked

to attend celebrations that honour memories of

the elderly, such as death anniversaries. Make sure

you attend as a sign of respect.

how can you negotiate your rent?

once you have narrowed down your decision,

it is time to negotiate your rent. negotiation is

dependent on three factors: furnishings, required

deposit and contract length. also note that the first

price the landlord offers is not necessarily the one

they will agree to. It is a tricky balancing act and

you can generally achieve positive results on two

of the three factors. a common negotiating tactic

is to find an unfurnished place and negotiate to

have it furnished how you want it.

how can you establish and maintain good relations with vietnamese neighbours?

In general, good relations with Vietnamese

neighbours do not require much effort compared

with other nationalities. apart from the principle

that you should treat others the way you wish

to be treated and the general rules about

Vietnamese culture, note the following:

Be sure that the neighbourhood is suitable for

you before buying/renting a house or flat. Go

there in the evening when people return from

work and use your observation skills (i.e., listen

for loud karaoke). say hello and goodbye to your

neighbours with a sincere smile every time you

meet. show interest in their lives by asking a few

questions, including questions that might seem

strange for expatriates.

If there is a dispute, be patient and firm. Don’t

raise your voice or make them “lose face”. If a

suitable agreement cannot be reached, ask for

help from the residence management board, to

dan pho, or the ward’s People’s committee. they

will handle the mediation/conciliation. offer your

best wishes for special occasions such as tet (and

don’t forget to give some small li xi – lucky money

– for children in the family).

offer small gifts when returning from a long trip

(not necessarily a bottle of chanel no. 5 – it is

the thought that counts)

what are the advantages of living with a vietnamese family?

Living with a Vietnamese family can be very

rewarding as it gives you a look into the daily

lives that many expatriates never experience.

family is very important here and when you live

in the same building, you pretty much become a

de facto member even to the point of being called

brother, sister, son or daughter.

what about security?

Violent crime against foreigners is rare, but petty

theft can be a problem. even shoes are at risk! In

some parts of town it would be wise to leave your

christian Louboutins tucked away – expensive

shoes left in front of the door have been known to

disappear. apartment blocks are more secure than

flats and houses thanks to security measures such

as cctV cameras, security guards and enclosed

parking areas. also, many of the villas in D2 and

D7 employ 24-hour security. If you are looking

for a place to live, take a look at the windows in

the surrounding buildings. If you see bars on the

windows, this could be an area that gets burgled

frequently. also, a hem with a dead end is better

for security as there is only one avenue of escape

for a would-be thief.


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By patrick gaveau

Anyone who’s lived long enough in our city probably wonders how logic plays out when it comes to real estate value and developments.

Making sense of it all is a pretty daunting task,

I guess. But Vietnamese think otherwise since

economical performance uses real estate as

its barometer. Look around, count how many

properties are in the making and evaluate how

well our economy is doing!

“A key issue to understand the local real estate market model

is property valuation”

My perception of a proper system is based on

market supply and demand cannot really apply

here. It is the root of the misunderstanding

between Western and local culture. for most

Vietnamese, land value can be explained as, “my

neighbour’s price is the right one.”

the reason behind such awkward reasoning

lies in the complex process of land acquisition

and compensation. My family in law owns a

beautiful patch of land and after five years they

are still waiting for a license to build! and most,

if not all foreign investors often give up trying

to understand or see value in these exhausting,

costly and lengthy land clearance activities.

Vietnamese simply factor it in the overall value,

which explains why land often comes with such

a hefty price tag.

the city is growing so fast and upward, are we

on the verge of a major market shift similar to

the one that hong Kong, singapore and Bangkok

currently cope with? Large local developers

disagree. they continue investing in the apartment

buildings, villas and condominiums complexes

that pop-up weekly. how can this be? some

point out, and rightly so, that most completed

housing developments remain mostly empty of

lights at night, regardless of the fact that they are

effectively sold to “ghosts”. then why shall they

continue to develop as much as they currently do?

“Many believe that property value is inflated and ready to implode.”

this is a non-logical issue, which I cannot explain.

and let’s be honest with each other, most of

us who were here 5-10 years ago believe that

property prices were already then up the roof.

now they are even more expensive. how far can

it go? that remains to be seen. What we know

is that hcMc is still an emerging market where

substantial growth potential exists. fortunately for

us, improvements have been made to stabilise the

market, the legal framework is strengthening and

the fDI is increasing, even if it remains marginal.

Photo by huy nguyen

citypassguide.com & #iaMhcMc apologises

for an error in our last edition on education. for

our Meet the expert article with ellen thompson,

we put her as head teacher of ssIs, when the

name of the school should have been saigon star.

We apologise to both schools for this mistake.at

citypassguide.com & #iaMhcMc we strive to

be accurate as possible.

#iAMhcMcLIvIng

an awkward real estate Market

6

#iAMhcMc Meet the expert

By patrick gaveau & aleksandr smechov

We sat down with property experts Mauro Gasparotti and Rudolf Hever from Alternaty (alternaty.com) for a deep exploration of Ho Chi Minh City’s real estate scene. To read the full fasinating 4,000 word interview, head over to iamhcmc.com/realestate.

Do you think Vietnamese people as a whole have

a different perception on land value?

Mauro: yes. Valuation is probably the most

important and sensitive subject for Vietnamese.

I think the true definition of value, which is what

a willing buyer and seller would pay for is not

applicable. It’s more of what the people are asking

for next door.

the other thing that affects the value is the process

of the acquisition of land, the years of pain of

getting the land from a certain status to a much

more sellable status. from a valuation point of

view, foreigners don’t consider this when they

come in. you could spend years on relationships

and a lot of money to get this land, so there is a

mismatch to what a normal developed country

would perceive as value and what the Vietnamese

think of it. Vietnamese want to get paid for this

process, and that’s why a lot of development

comes at such a high prices, because this would

make the project feasible.

the Vietnamese also put a future value into the

asking price. they put what the value will be

in 5-10 years time, they try to put the growth

of the country as a factor. It’s a long exercise to

understand value from both sides. for Vietnamese

it’s what has been the history they needed to go

through to get to this point where they can sell

the land; for foreigners it’s what the price is that

would make their project feasible on this land.

there’s no transparency. that’s why the big guys

like Vincom who get the land easier can also

move the process along faster than the single

developer who has spent 10 years trying to get

the approval and now he wants to get paid for

this 10 years.

Is there in your experience any other country that

is similar to Vietnam in the market’s disregard

to value?

Mauro: Myanmar. We have been asked to open

an office there. I clearly saw the dynamic of the

market when I was there. nobody can tell the

real value of the land, everybody is relying on the

future value it, as well as how easy it is to build

on it, how clean it is - also a lot of corruption

in the back. that’s when you see speculation,

you see a bubble, you see overpriced land, and

not many transactions. and now you see an

oversupply in the hotel business; two years ago

there was an undersupply. Vietnam is past this

stage now and much better than before.

cambodia is different. It’s easier to get the land

process approval. you know exactly how much

it will cost you, so cambodia is an easier market

to do business with, and they rely on foreign

business as well.

Is the average land value in the primary streets in

HCMC overvalued?

Mauro: yes, but if you asked me this question

five years ago I would have said yes as well, and

now the value is 30% more, so I was wrong then.

I could be wrong now. the reality is that if I run

everything you need to know about real estate in hCMC

photo by Manh hai


#iAMhcMcMeet the expert

a cash flow model on any commercial property,

and I pick us$20,000 per square metre of land,

there’s no way I’ll recover from that.

Do you think this system is sustainable?

Rudolf: I look at it in a more optimistic way.

It is what it is, but it is changing, the market

is developing, there are more laws being passed

encouraging foreign investment, and you can

see this in the statistics of fDI [foreign Direct

Investment]. I think over time, in terms of the big

picture, we are an emerging marketing. We are

going the right way, although it’s a rollercoaster,

but over the long term it’s getting more developed

and transparent.

FDI is increasing? By how much?

Rudolf: I don’t know off hand but real estate is

usually the second or third largest recipient after

manufacturing. real estate is one of the major

benefactors of fDI.

How important is the real estate market for the

Vietnamese economy?

Mauro: [Pause] I think it’s crucial, I think [the

Vietnamese] look at it closely as an indication of

how strong the economy is itself. they are very

attached to the land as core value, and I think it’s

a good way to move the money out of the stock

market, which seems very risky at the moment.

“If you see what’s happening in District 2, it’s a

beautiful example of a new satellite city. so there

is a lot of good news out there, I wouldn’t be

too worried. and being here for eight years I

passed two big bubbles: 2008-2009, and then

2011-2012, so I am very realistic about the

market, but I see a lot more educated buyers

and developers now.

Is local financing still too weak to support real

estate development?

Mauro: I think yes, I think there are banks that

rush into something when they are asked, and

then they step out as quick as they rush in. there

is really no long term strategy for the bank itself,

and they only support a certain level of buyer,

which is the mid- to high-end buyer that has easier

access to the bank, while the people that really

need it, it’s much more difficult for them.

We were doing a project in cambodia one year

ago, a satellite city with a townhouse. We were

amazed to see the amount of support the low-

income buyers got from the banks to buy these

low-cost townhouses. there was a whole structure

of payment set up according to the salary the

people had and there was a lot of cooperation

from the developers and banks coming together

to help this structure. I don’t think Vietnam is

there yet. I think it’s more based on the personal

relationship between the buyer and his bank, than

a sustainable, clear structure. as a foreigner living

in Vietnam, or as a foreign company, it’s not an

easy structure - so there’s a lot of improvement

to be done at that level.

Which real estate sector suffers the most in

HCMC today?

Mauro: to me it’s the malls. It’s still not truly

developed. the demand is not there on the

Vietnamese side. the mixed tenants are not

there. usually there is the same type of tenants.

you don’t see what you get in thailand: where

people can spend all day at a mall, where there is a

large variety of shops and a large food court, with

everything from low-priced items to the branded

level. I don’t think retail in Vietnam is a sound

market yet - land is too expensive for the amount

of land retail needs. considering the land price

you need to go high-rise to make your money. I

think the only retail outlet that has proven to be

nice is aeon Mall. I think that was a good shot.

But it took a long time to be executed.

Malls are popping up everywhere. Is there an

oversupply?

Mauro: I don’t think there is an oversupply,

I think there is a lack of demand and even the

right design. there is no mall where I want to

spend more than two hours at, as opposed to in

thailand, where I can spend all day in one. In

Vietnam the feeling of a mall is still just a box

where you can buy something and get out. there

is a lot of room for further development, for

example open malls where the space is outside

and there are bars and clubs, basically something

that makes the entire place more than just a

location to buy something and leave. I think

retail is the most difficult to make work, but

there is a lot of potential.

For a land lease for foreign companies, you are

given 50 years. What happens after 50 years?

Mauro: It’s funny because as a foreigner you buy

leasehold, but if you sell to locals it converts to

freehold. this structure makes the whole system

open to hope that you never really lose the value

even if you are foreign investor. so within 50 years

you have a likely chance to sell it.

So you don’t think we’re in a real estate bubble now?

Rudolf: Globally it’s been risky for the past five

years. But if you keep saying there is a crisis

every day, in five years you are going to be right

at some point. there are always cycles, and I

think the gloom and doom scenario is possible

but highly unlikely.

Santa Fe VietnamT: +84 8 3933 0065

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8

#iAMhcMc Meet the expert

The most comprehensive guide toHo Chi Minh City ever composed• 700+ questions answered• Expert advice on living, shopping, business & more• Local perspective on expats living in HCMC

42/37-38 Hoang Dieu, D4, HCMC • +84 (0) 838 254 316 • [email protected]

By patrick gaveau & aleksandr smechov

an architect’s perspective: hCMC’s real estate Challenges

Archetype Group is a multidisciplinary construction consultancy. Ranked 74th in the world among architectural companies, it has just acquired the Asia Pacific operations of Dutch company Tebodin, bringing its number of employees from 500 to around 1,100.

our editor-in-chief Patrick Gaveau met with

archetype’s Director of Design Jean francois

chevance.

What is your relationship with Vietnam?

I came for the first time in 1990 when I was

still a student in thailand. I started coming back

and forth, before getting my diploma in 1994.

then I moved to hanoi in 1995. I met francois,

who is one of our partners today, and we started

working together for a french architect. We

were in a very small office of just six or seven

architects. archetype was founded in 2002 in

hanoi, then moved to hcMc. We have offices in

13 countries, all in asia apart from france now,

but still consider hcMc to be our headquarters.

How do costs of building in Ho Chi Minh City

compare with other cities?

construction costs in the city are probably about

20% cheaper here than say in Bangkok. In District

1 though, the land prices are crazy, they are so

high, probably even higher than in Bangkok.

Is there any over supply of construction projects?

the last bubble has probably burst, but I think

another may be growing at the moment. Last time

it was like musical chairs; people were rushing

to buy apartments in large numbers, and it was

a case of wondering who would be left holding

on to them. this time it is different, I don’t see

people rushing in to buy apartments by the dozen.

What are the main challenges that the real estate

business faces in Ho Chi Minh City?

as an architect I think there are two problems:

there is the bubble of course that needs managing.

to do this, we prefer a more regular economy

and level of growth. the second, and biggest,

problem is the regulation itself as a killer of

creativity. We obviously want to get as much

from the land that is purchased. for example,

there is always a height restriction. so we have

to take the shape of the land and extrude it. We

cannot make fancy shapes or have a hole in the

building. so we end up with so many buildings

that are just cubes. the regulations should allow

for more creativity.

There so many residential buildings going up, will

there be enough people to fill them?

not likely. our clients tell us that in some of their

buildings a third of the apartments are empty for

most of the year. they are owned by foreigners

and Viet Kieus who don’t live here, just maybe

they come for a few months each year. these

are the discussions that we have when talking

about services. should we have a centralised air-

conditioning system or a split system? they always

go for a split system because otherwise they will

be running air-cons when there is nobody there.

Buildings are still being sold, but not used. take

saigon Pearl for example, that was completely

sold very quickly, but look at it at night and you

can see how much is unused.

Electricity supply is a big problem for Ho Chi

Minh City. How does this impact on your work?

energy conservation represents a huge challenge

for us. the types of glass used in most of these

buildings wouldn’t be allowed in other countries.

they use thin glass and single glaze the windows.

there is also no insulation in the walls. so this

is a really big challenge for us. It is surprising as

Vietnam has a very good regulation, the energy

efficient Building code. It already exists but

nobody is really applying it.

What are the hurdles that you face when trying to

get all the people together to start a new project?

It is not us but the client that has these problems.

It is not really the paperwork; it is very time

consuming to get decisions made on new buildings.

now when you show people a model, they want

to know about the materials, they want to see

how it will look at night from the outside.

How has the development of the Metro changed

the way buildings are being built?

I think that even before the metro was started

people knew where it was going to be. so all the

way out to District 9 things are being built. It

has played a major role. the development looked

crazy when I first saw it, but now as the Metro

gets closer it all makes sense.


#iAMhcMcMeet the expert

By patrick gaveau

is sustainable architecture in hCMC possible?

Today, the demand for more sustainable design in HCMC is steadily getting off the ground. Charles Gallavardin of T3 Architecture Asia sat down with #iAMHCMC to give his perspective on green buildings in Vietnam.

charles and his wife started t3 architecture in

france in 2007, specialising in green architecture.

When charles arrived in Vietnam in 2011 to

begin t3 architecture asia, the demand for

green building was low, although interest was

growing. We spoke with charles to determine

what changes were taking place to catalyse this

newfound interest.

What is the definition of a green building for you?

It’s a building well integrated into the place

it’s set up at. It should take the landscape into

consideration - the shape of the building is quite

important, to be protected from the sun and

allow for natural ventilation. the idea is to avoid

direct light in a hot tropical climate; that’s why

we design overhangs or balconies, to take the

facade away from the sun, so you keep your main

walls in the shadows.

secondly, you have to take care of the roof, and

make sure there is a double ventilated roof to

keep the air flow and make the top floor always

cool. then, ideally, you try to use green building

materials, sourced not too far from where you are.

Is the government aware and sensitive about the

need to do something about that?

yes, they are. there are many discussions about

this. But if you’re a private investor and you

finance infrastructure, the government cannot

complain too much about what you do. you try

to optimize your plot as much as possible.

Why does Saigon need such type of construction?

saigon is one of the more polluted cities in asia

now. there is a huge issue concerning air pollution.

the demand of energy is getting higher than what

can be produced. What we can see for many years

is that Vietnam is mainly doing a “copy-paste”

of buildings they saw in Western countries with

full glass facades but they didn’t realise that the

climate is totally different and that they have to

create their own style to make their building more

appropriate to the climate, to save energy, save

costs and make the building more comfortable.

Do you think one of the main challenges to

building green buildings in Vietnam has to do

with people’s perception?

yes. I think when you discuss this with most

Vietnamese, of course they want more parks

and more green areas. But in reality, in urban

development in Vietnam, this is still considered

a quantity issue. Which means they try to plant

vegetation to increase the number of green area per

square meter per inhabitant, but without having

in mind that it’s better to have many small parks

than having long green areas along the highway.

It is the same story with green buildings: a green

roof doesnæt make your building green.

Do you think one of the main concerns for people

who don’t understand green buildings too well is

the fear of additional costs?

I don’t think so, because finally we can do green

buildings quite cheap, depending on the material

you use. But the green principles are very basic

and you can find it everywhere in the traditional

architecture of Vietnam. traditionally you

have your long and narrow plot, with the shop

facing the street, the house on the backside and

a courtyard in the middle. the air ventilation

is efficient and you have natural light in your

house and your shop. the house is far from the

street so it’s far from the noise. for 20-30 years,

Vietnamese have lost their knowledge of how to

create a green house, but recently some young

Vietnamese architecture firms take traditional

building materials and traditional Vietnamese

architecture and incorporate it in a more modern

sense to make the house more green.

Energy consumption is growing, meaning the

price has to go up, which means it makes sense

to have more energy efficient practices and

buildings, correct?

yes, this happens in every city. When energy

prices go up, green houses and buildings become

more and more normal. of course, for Vietnam,

electricity cost is very low, even compared to

the standard of life. one issue, even though it’s

never easy for government to say that they have

to increase electricity costs, especially for poor

people, it’s a real way to make developers and

private investors more concerned about energy

savings.

Almost none of the existing high-rises in Ho Chi

Minh City are really environmentally friendly. If

the price of energy rises, most of these building

will have to be rebuilt or adapt to the new

demands. And you provide this service?

yes, full renovation to adapt an existing building

and make it less costly in terms of energy, and most

important of all we make it more comfortable

for people!

10

3 locations in Thao Dien, D2, HCMC09 0395 7316, Ms Joke (Yoko)

[email protected] - www.smartkidsinfo.com

Can Vietnam ever become green?

By michael sieburg & aleksandr smechov

Content Manager Aleksandr Smechov met with Solidiance’s Michael Sieburg to determine whether Vietnam, and in particular HCMC, can ever become truly green. Here is the transcript of Michael’s comments:

solidiance is a consulting firm that works with

clients across industries. there are three industries

we focus on. one is simply called industrial,

which includes construction, chemicals, and all

that. that’s the core of what we do. then there

is healthcare, especially in Vietnam. and what

we call technology. In total we have 12 offices

across asia.

Within the industrial stuff we do, our research in

green tech and buildings are really driven by two

things: our personal interest and by our belief

that this is where the country is going. We think

southeast asian countries will be using these

technologies more and more - green cities, clean

cities, however you want to describe them. our

ceo is personally interested in this. he’s doing an

online course with harvard university to learn more

about this subject. I don’t know when he sleeps.

“when there is that mismatch of the developer and the user of the building, it can be harder to make it green because

the immediate incentive is not there”

We are also a consulting company - we have

clients who want to be where our other clients

are - large multi-nationals. these companies are

at the forefront of developing more efficient air

conditioners, elevators, eco-friendly paint, smart

grid technology, electric cars and batteries. our

clients are often innovating and making these

technologies, and part of these projects involves

green building output. they want to sell their

products and part of their line is more energy-

efficient stuff.

Most of the certified green buildings in Vietnam

have been factories. and it’s not like there are

thousands of green factories, but they are the

biggest component, and I think part of it is that

when you’re a company developing a factory,

you’re also using that factory and they consume

a lot of energy. It makes sense to find ways to

save on that, even though electricity prices are

low here, for now. a lot of these companies also

have global standards that they must adhere to.

“our research in green tech and buildings are really driven by two things: our personal interest and by our belief that this is where the country is going”

one of the biggest factors in pushing green

building practices is electricty prices. the

government is currently subsidizing, which won’t

go on forever. I think it needs to be balanced

with low-income residents. for example, energy

prices in cambodia and the Philippines are high.

and that hurts manufacturing investment there.

once electricty prices rise, there is a point when

wind power become profitable, and at some point

(economists figure out this point) you see further

adoption of energy efficient machinery.

calling for a country to raise electricity prices

where many people cannot afford it is a difficult

thing to do, which is why the government

treads slowly.

the cost of making a building is a bit more

expensive - how much? that depends on what

you’re doing. I think the real issue in buildings

going green is when property developers create

buildings for somebody else. the developer’s

incentive is to keep costs down and cut corners

where they can, because operating costs are

somebody else’s problem.

When there is that mismatch of the developer

and the user of the building, it can be harder to

make it green because the immediate incentive is

not there. you can argue that there is an incentive

that you price the units higher when you sell them

- President’s Place proved that correct.

at the moment there are not really well-defined

mandates in Vietnam. In singapore there are

mandates - any new building must meet green

standards. everything here is left up to the

developer, if they want to build green or not. If

you talk to the architects around here, the younger

generation is getting it, but not yet necessarily at

all levels. What you do see here is that a building

might not be certified green, but the water heaters

are solar. there is a move towards that. a lot of

hotels are doing that - they probably have some

hybrid electric-solar water heater when it’s not a

sunny day, but as a way to save electricity costs.

“the younger generation is getting it, but not yet necessarily at all levels.”

so factories also have that. the biggest solar plant

in Vietnam at the moment is Intel’s factory, which

is saying something. Vietnam is a sunny place;

you can’t run the whole country on solar, but is

there a gap between what there is and what there

could be? Definitely.

young people are interested in sustainable

development, which is good to see. saigon in some

ways doesn’t have to follow the same practices as

other countries - they have the luxury of learning

from others’ mistakes, one would hope.

#iAMhcMc FeAtures

photo by Matt walker


2.3 open kitchen: an open kitchen also helps

make the space look bigger, as it connects with

other sections of the apartment.

2.4 overview: this “open concept” does not

only create a connection between spaces but also

connects family member together – while mom

is cooking, she can talk or look after her kids,

and also speak with her husband in the working

room at the same time. all spaces are connected

together without boundary, and this creates a

roomier feel in the apartment.

3. the value created: a simple change in layout can

create a big difference for your apartment, yourself

and for others who are engaging in this space.

the above project was completed by oP3

Interior Design & construction. the firm’s

belief is that a home should tell a story about

the owner, while at once refreshing those who

live there, connecting family together with a

seamless space that take into account the natural

elements of the earth. you may learn more about

their home enhancing projects at op3vietnam.

com. for further consultation, you may contact

oP3 Vietnam at [email protected].

#iAMhcMcAdvertorIAL

By aleksandr smechov

improve your home enhance your Value

But have you ever thought a home can be an

extension of one’s personality, a space to feel

refreshed after a long day, something that inspires

you instead of acting like a permanent hotel?

Interior design’s focus is to enhance an indoor

space to make it not only more pleasing on

the eyes, but bring its inhabitants together and

seamlessly connect separate spaces. Below we

take an interior design project in Binh Duong

new city, where an existing apartment layout

goes through several modifications to maximise

both space and function.

1. existing condition: the existing condition of

the space was a three bedroom apartment for a

young family. there were long, narrow corridors,

too many solid walls that made the public area

smaller and tighter for anyone passing through.

there were no true spaces for working, reading

or entertainment.

2. solution: as the inhabitants were a young

family with a small child (and possibly another

coming), changes were made in the layout in order

to create a functional space that could fulfill the

needs of a small group of closely knit people. for

this an “open” concept was used.

2.1 functional change of space: the project

began with the demolition of one bedroom and

the creation of a multi-purpose space – this new

working/reading room can be used as a guest

bedroom when needed.

2.2 working room: the working room is an

open space, connected with other sections of the

apartment: the kitchen, the dining area, bedrooms

and the living rooms. Privacy for the working

room can still be kept using a partition and

bookshelf.

Homeowners usually think of their dwelling as a place to relax and unwind after a hard day out, spend a bit of quality family time, and have the occasional meal.

12

#iAMhcMc AdvertorIAL

kaze.com.vn | [email protected] | +84 8 6281 9690

By aleksandr smechov & Fong-chan Zeuthen

kaZe on QualityFong-Chan was born in Denmark, a country world famous for its attention to design detail in architecture and furniture design.

Moving to Vietnam 14 years ago was an eye

opener for her. she quickly found that the

country’s perception of quality design was very

much different from her own.

six years ago she founded Kaze, which means

wind in Japanese. the interior design firm’s

mission is to push for quality in function, design

and purpose, something that has not been paid

much attention to in Vietnam. We sat down with

fong-chan to discuss Kaze’s take on quality.

“there is no building that has intelligent design

in this city.” fong-chan lets me quote her on

that. she means that no building here has

paid much attention to sustainable practices

or invested in consultants with sufficient

knowledge of the environment they are building

in; everything has been built in a mad rush to

cut costs for as fast a return as possible; and

developers have chickened out of paying extra

as soon as the price tag on sustainable, quality

design reared its head.

the perception of Quality

real wood, real stone and not “Made in china”

- or what the locals jokingly say, “made in

District 5”. this is what most Vietnamese - and

interestingly enough, many other nationalities

including americans - will answer when asked

what a quality home consists of.

you can control the quality of hardwood

flooring in a home, but not so much for one

thousand apartments. It’s the craftsmanship that

matters. It’s one thing to have a piece of wood,

another matter entirely to shape this wood into

a quality product, such as refined, affordable

and sturdy flooring.

“there is no building that has intelligent design in this city.”

Many property developers and investors have

yet to realise that there is a process in-between

the raw material and the result. you may have a

house with stone fixtures and marble columns,

but where are you going to sit, sleep, how do

you move through the space, how is the space

moving you? fong-chan has been focusing on

these questions ever since finishing her Masters

in architecture.

the Challenge of Quality

Quality, according to fong-chan, consists first of

great references and understanding the history of

“how things originate”. terms must be defined

when talking about quality.

Quality is when we learn from our experience

and make an effort to develop a design with

all necessary details. We incorporate our

understanding of the natural laws of gravity,

function, existing permissions, and through that

develop a shape, space, chair, house, building or

tower that relates itself to the surroundings and

its end user, the human.

at one point during our talk, fong-chan pointed

behind me at a poster: a century of Danish chairs.

“that’s quality.” We got up and scanned the 105

chairs in the poster. fong-chan would point out a

chair and explain why it had been so revolutionary

at the time. all these chairs were designed and built

for the human body - with special attention to the

chair’s proportions. Quality is something made

with purpose - function and form combined to

give us a human experience. not just something

that looks pretty.

a state of preservation

saigon and hanoi are european cities - and so

are unique in southeast asia. they have what

other cities in the region do not: a city centre. In

european tradition, everything is built around

the church and from that you would have the

important boulevards and roads that connect the

urban infrastructure. the city develops through

trade and if possible, a trade port is built.

“saigon and hanoi have what other cities in the region don’t: a city center.”

singapore had this, but only a few of the old

buildings remain - the vast majority had been

demolished in favor of contemporary high-rises

and city blocks. this is exactly what is happening

in saigon today, and we are looking on sadly as

the city’s heritage is being demolished in front of

our eyes in the name of “development”.

a shift in idea

a shift in the idea of quality is taking place, from

superficial and cost-saving practices, to the world

of right proportions, practical function, intelligent

design and sustainable material. Let’s hope ho chi

Minh city learns from its neighbors (and itself)

and begins to understand that cutting corners will

never work in the long term.

21 Thao Dien, D2 | kaze.com.vn | [email protected] | +84 8 6281 9690


#iAMhcMcFeAtures

top 10 real estates websites in hCMC

By luke nguyen

Buying, selling or renting a house in Vietnam, easy though it sounds, can be a challenge for a foreigner.

the country’s real estate transactions have been

based heavily on the traditional method of having

an agent (or “co” - the housing stork) do all the

work. People are now becoming more proactive

in their choice of creating a home and taking

advantage of online information to save costs

and time.

here are our top 10 picks for quality real estate

websites in Vietnam. Despite the fact that only

a limited number of them have a proper english

interface, their information is valuable and can be

translated easily using Google translate.

Check out the 10 sites below:

1. batdongsan.com.vn

When it comes to housing and real estate, bat

dong san is no doubt the number one portal in

Vietnam. With the largest amount of information

in its field, continuously updated and presented

professionally in both Vietnamese and english, it

satisfies a wide range of enquiries from visitors.

Besides real estate information, it also provides

visitors advice on architecture, construction,

interior and exterior decoration, legal issues and

feng shui.

2. muabannhadat.vn

With a friendly website layout, Mua ban nha dat

is a great source providing online solutions for

marketers and real estate brokers. for investors,

brokers and individuals who are active in the

field, this site is one of their first choices to get

quick market updates and details on upcoming

real estate projects all over the country with a

few quick clicks. the only downside is that they

don’t have an english user-friendly interface, but

as mentioned earlier, Google translate can be a

good way to explore.

3. zita.vn

Zita is one of the newest additions to the

Vietnamese real estate field. With its clean, sleek

layout including a city view home page video, zita

sets itself apart from the other competitors. the

information on the site is presented beautifully

with a neighborhood browsing feature and an

interactive map for visitors.

4. dothi.net

do thi provides the fastest and most accurate

market information in Vietnam. through the

advanced site browser, users can find all about

buying, selling, renting across all provinces and

cities in the country. news and featured projects

sections are updated daily to keep visitors

informed on the latest buzz in the field.

5. nhadat24h.net

nha dat 24h specialises in online real estate

transactions, featured VIP promotions, advertising

updates and latest market news.

6. 123nhadat.vn

With over 2 million real estate listings and an

average of 5,000 housing posts per day, 123

nha dat provides market information, and post-

purchase education and lease-free housing. users

can search for land, houses and apartments.

7. cafeland.vn

Cafeland is one of the leading real estate sites

in Vietnam. Besides housing information, the

website also provides up to date news and

market analysis from experts in the field. the

site also has a portfolio section which provides

key details on real estate with specific and neatly

presented information.

8. diaoconline.vn

dia oc online aims to contribute to the

sustainable growth of information-sharing and

real estate infrastructure in Vietnam. Besides

housing listings and information, consultancy

on decoration, interior design and feng shui

are also provided to users for reference. the

featured agents section is also very interesting

and informative.

9. dinhgianhadat.vn

this website lives up to its good name by

providing qualified property valuation software

to assist customers with making buying decisions

easier. Besides real estate news and tips, dinh gia

nha dat also features a cheap land and housing

section and a promotion and auction space for

buyers and investors.

10. kenhbds.vn

kenh bds supplies a wealth of resource materials

for home buyers and sellers for big cities in

Vietnam. the website is presented so that both

buyers and sellers can make the most of its user-

friendly interface and information.

14

hong kong and singapore investors seek opportunities in Vietnam

By timo schmidt

#iAMhcMc FeAtures

Vietnam’s new ownership laws for foreigners, released in July 2015, have already had great impact on the local housing market in the country

Particularly, investors from within the region are

amongst the first ones to actively seek investment

opportunities in the country. savills Vietnam has

seen great interest and real demand from foreign

buyers based in singapore and hong Kong. to

better understand the reasons for their aggressive

moves it is important to look at the local housing

market in these respective countries.

Property markets in singapore and hong Kong

have been heating up over the last decade due to

ever-increasing demand from local and foreign

investors. While singapore is a preferred investment

destination for buyers from Malaysia, Indonesia

and mainland china, the market in hong Kong

has seen tremendous investment from the latter.

“property markets in singapore and hong Kong have been heating up over

the last decade”

to react to the social problems caused by the

price increases - such as lack of affordability

for first-home buyers - governments in both

destinations have put cooling measures in place.

these are now showing effect with a considerable

drop in transactions, and prices are expected to

drop in both countries.

In singapore and hong Kong the governments

reacted as early as 2009 with a variety of cooling

measures, which included:

» Increase of Buyer’s stamp Duty (BsD) for

purchases of multiple properties of up to

15% in singapore and 8.5% in hong Kong

respectively, particularly for non-resident

foreigners and entities.

» seller’s stamp Duty (ssD) on resale of

properties with short holding periods in

singapore for periods of less than one year,

which was later increased to three years. and

in hong Kong from two to three years.

» Limits on loan-to-value for multiple unit

purchases, meaning that buyers could not

leverage purchases by using bank loans.

especially relative to foreign buyers or those

who purchased multiple units.

these measures were specifically introduced to curb

property investment and speculation - particularly

by foreign investors - rather than preventing first-

home buyers from purchasing units. the effects

are finally starting to show with transactions and

prices decreasing in both markets, and talks of a

property market crises making the rounds. More

importantly, the yield potential in these markets

has declined due to the additional purchasing costs.

taking into consideration that hong Kong and

singapore investors are amongst the most active

in the region, Vietnam is seen as one of the most

attractive destinations for property investment in

southeast asia. With excellent yield potential and

prices at a fraction of those in hong Kong and

singapore, investors can purchase multiple units

at the value of one property in their home markets.

“vietnam is seen as one of the most attractive destinations for property

investment in southeast Asia”savills Vietnam was among the first real estate

agencies to take advantage of this by creating an

international sales department to actively promote

Vietnam’s properties in these key markets; in

collaboration with savills regional offices.

“We have seen great interest of local developers

to market their projects abroad, and have

scheduled a series of sales events in hong Kong

and singapore over the year 2016. our offices in

both countries are excited to promote Vietnam’s

properties given that the easing of restrictions

allows foreign investors to take advantage of low

prices and excellent yields in comparison to their

local markets,” says the head of International

residential sales for savills Vietnam. “since

inception of the department we’ve transacted

nearly us$20 million in sales to foreigners without

bringing projects abroad. We are confident that

this number will increase dramatically over the

coming months.”

the opening of the Vietnamese property market

to foreign investors is expected to draw more

foreign investment into Vietnam from private

and institutional investors.

hongkong property in 2015singapore property in 2015

0

5,000

10,000

15,000

20,000

25,000

2008

11,046

4,264

2009

16,16114,688

2010

13,646

16,292

2011

10,880

15,904

2012

12,968

22,197

2013

11,046

14,948

2014

7,316

16,857

2015

7,440

16,826

no. oF units sold by developersData provided by savills.


#iAMhcMcFeAtures

By eric le dréau & le thi quynh thu

a legal overview for foreign investors in hCMC

Are you a foreign investor and want to know about real estate laws in HCMC? Confused by the new Property Law? Indochina Legal clears up the confusion:

one of the most notable changes introduced

by Vietnam’s new 2014 property law and its

regulations is the revision of the right for overseas

Vietnamese, foreign individuals and organisations

to own residential houses, as follows:

overseas Vietnamese (or Viet kieus) can now own residential houses in

the same way as Vietnamese citizens without

further residency requirements or any limitations

on the type or quantity of houses, or the terms

of ownership. they must hold a valid passport

with an entry verification stamp marked by the

Vietnamese Immigration Department (VID) and

a document evidencing their Vietnamese origin.

foreign individuals have the right

to own residential houses, subject to certain

restrictions as compared to Vietnamese citizens

and Viet Kieus. In order to own houses, a foreigner

is required to have a valid passport with an entry

verification stamp marked by the VID and cannot

fall under diplomatic or consulate preferences and

immunities. requirements of residency, investment

in Vietnam, work permit, social contribution and/

or marriage to a local Vietnamese is not necessary

for residential housing ownership. however, as

to ownership duration, foreigners married to

Vietnamese citizens or to Viet Kieus are entitled

to an indefinite term, whereas foreigners who are

not can only own residential housing for a period

of 50 years. this can be extended for another

50 years, subject to approval by the provincial

People’s committee where the house is located.

unlike other foreigners, those who are married

to Vietnamese citizens are also exempt from

notifying the housing administration authority

at the district level prior to leasing their houses to

others. apart from that, the new legal framework

grants foreigners the same rights of Vietnamese

in the cases of subleases, mortgages, etc. of

residential housing.

foreign organisations are allowed to

own houses provided that (i) ownership term shall

not exceed the period stated in their investment

certificates issued by Vietnamese competent

authorities, including any extensions; (ii) use of

the houses is for residential purposes only, for

their personnel; and (iii) lease-out of the houses

is not permitted.

It is worth noting that foreign organisations and

individuals shall not collectively own more than

30% of the total number of apartments in an

apartment building or not more than 250 separate

houses in an area where population is equivalent

to that of a ward. In addition, house ownership

beyond real estate projects (e.g. a villa built by

individuals) is not allowed. for national defense

and public security purposes, foreign individuals

and organisations cannot own houses in certain

areas. With respect to these limitations, the

local Department of construction will publish

on their official website the projects where

foreigners cannot own houses, detailed numbers

of apartments or separate houses eligible for

foreign ownership, and the number of houses

where foreign ownership has been recorded.

to our understanding, the database is not yet

completely developed for all cities and provinces

in Vietnam. Meanwhile, payment for purchase or

lease of residential houses shall be made via credit

institutions operated in Vietnam. so far there has

been no specific instruction on foreign exchange

control for relevant inbound and outbound

foreign funding of residential housing.

Despite certain remaining limitations, the nhL

has provided a more open approach to ownership

of residential housing for foreigners. the hope is

that these changes will ultimately defreeze the real

estate market and create a new wave of foreign

investment in Vietnam.

www.indochinalegal.com

photo by Manh hai

16

#iAMhcMc hotchpotch

By Zoe osborne, luke nguyen & david perry

house it going

no worries. the cockroaches only come out at night!


#iAMhcMchotchpotch

events Our selections of events in HCMC this month

vietnam international caFe showsaigon exhibition and Convention Center (seCC)799 nguyen van linh st, tan phong Ward, d7May 12 to 14 | 9 a.M. to 5:30 p.M.

Vietnam International cafe show is the very first coffee

dedicated exhibition ever held in Vietnam. the exhibition will

function as a multi-platform space for coffee, tea, beverage,

bakery, raw material, machine and equipment, dessert, cafe

interior, and franchise and start up businesses. also taking

place at the event space will be the Vietnam national Barista

championship (VnBc), sanctioned by the World coffee event

(Wce). this will be the national competition’s first time in

Vietnam. the Vietnam International cafe show establishes

Vietnam’s place in the international cafe scene, not only as a

world leader in robusta coffee production but also as a location

for excellence in cafe culture.

late night sessionsvinspaCe6 le van Mien, thao dien, d2, hCMCtuesdays starting 26 april 2016 | 6:30 p.M.

Vin space’s studio 7 is launching a new series of

late night art sessions on tuesday evenings. aimed

to bring creative people together to learn in a

social and relaxed atmosphere. Learn a range of

art practices including design, print, sculpture and

animation. Drop by, enjoy a few beers and by all

means bring your friends. this event is open to

people of all backgrounds and skill levels.

Phone: +84 9 0772 9846

email: [email protected]

reuniFication celebration in the skynear thu thieM ChurCh, saigon river, d2april 28 - 30 | various

enjoy a reunification fireworks Dinner flight 60

metres up in the sky. Menus have been specially

designed by internationally celebrated chef andy

o’Brien, star mixologist Greg Jacob and exciting

and innovative Vietnamese, chef hai anh.

Priced from $288 to $1000

Phone: +84 8 7300 7998

Website: ticketbox.vn/event-in-the-sky/en

alchemy’s whiskey and saigon cigar club showcasesaigon Cigar Club, sorae lounge, d1May 11, 2016 (tbC) | registration: 8-10 p.M.

sample three of scotland’s finest single malts: the

Macallan, highland Park and Glenrothes enjoyed

with a quality cigar, either a Partagas habaneros

or cigar roller. these can be enjoyed along with

complimentary canapes whilst taking in the

fantastic panoramic views over the hcMc skyline.

the complete works oF shakespeare (abridged)saigon players’ 3rd floor, vista Walk628C xa lo hanoi, d2May 12-14 | 7 p.M. (2 p.M. extra shoW on May 14)

to commemorate the 400th anniversary of his

death. the saigon Players are proud to present:

3 actors. 37 Plays. 1223 characters. 90 Minutes.

In a feat never before attempted in saigon! come

watch as 3 actors attempt to perform aLL of

shakespeare’s plays in a mere 90 minutes.


thao dien ultra runsaigon outCast, 188/1 nguyen van huong, d2april 24 | froM 5:30 a.M. to 3 p.M.

this serious test will push your limits and is open

to members of a running club who are from 18

year old. Individual Male/female and relay (team

of 4 members with at least 1 female). Individual

entrants: every runner must run around the 5km

loop of the thao Dien residence within 8 hours.

those who cover the highest mileage will be

the winners. relay entrants: members will take

turns to run every 5km during the 8 hours. the

team who runs the greatest total distance will be

crowned champions.


Fest in breiZhCargo bar, 7 nguyen tat thanh, d4May 21 | 4:30 p.M. - 3:30 a.M.

the Breton Day, “Gouel Breizh” will be celebrated

at cargo Bar this May. It features a performance

by more than 30 musicians and singers covering

the full spectrum of celtic music from traditional

songs to modern sounds. Price: VnD100,000 per

person, at door: VnD150,000

free entrance.

+84 8 3823 6064

+84 8 3823 6050


[email protected]

Forbes under 30 summitgeM Center, 8 nguyen dinh Chieu, d1May 12 | 8 a.M.

forbes Vietnam “30 under 30” 2016 is a list of

30 people under the age of 30 who are featured

in different fields in Vietnam. the under 30

summit will be organised as an international

event with the participation of the brightest stars

from both local and international locations. Last

year, unIcef Goodwill ambassador and global

superstar Katy Perry joined the stage with her

encouraging story about raising the voice of

young generation on important issues.

Price: VnD825,000 per person.

Phone: +84 9 0244 0175

escape music Festival summer rhythm 2016lot 13 tan trao, phu My hung, d7May 21 | 3 p.M. - Midnight

escape summer rhythm 2016 will start your

summer with all you need for an adrenaline-

pumping night out. Kill the heat at the Pool Party

and feel the beat from DJs heatbeat and two other

veteran DJs. Price: VnD500,000++

Booking: ticketbox.vn/escape-summer

18

| 799 Nguyen Van Linh St, Tan Phong Ward, D7

the ideal riverfront lifestyle

Set amidst a tranquil haven along the Ca Cam River, Riviera Point is a 15-minute drive to District 1 and is well-connected to other districts via Phu My Bridge.

Jointly developed by singapore and Vietnam’s

leading developers, Keppel Land and tan

truong, riviera Point features an urban oasis

and a modern resort lifestyle. enjoy direct

connectivity to the downtown area and

international schools in Phu My hung via

Phu thuan bridge, and to crescent Mall via

the new link bridge to be completed in 2016.

residents can indulge in a wide range of

recreational facilities such as a swimming

pool, gym, sky gardens, BBQ pits, riverfront

promenade and children’s playground. the

development offers the convenience of having a

mini mart, cafe, nail spa and ILa english centre

at your doorstep. residents can also enjoy the

amenities at Phu My hung township, which

is just a five-minute drive away.

families with children going to school will

also appreciate the development’s proximity

to many international schools, including the

British Vietnamese International school and

the royal Melbourne Institute of technology.

Medical facilities are also within reach at

the franco-Vietnam hospital. the entire

waterfront development, to be developed in

phases, consists of a total of 2,099 units spread

across 12 residential towers. When completed,

riviera Point will be the tallest development

in District 7. riviera Point phase 1a, featuring

549 waterfront apartments, was completed

and handed over to residents in early 2015.

riviera Point was conferred the Green

Mark Gold award by the Building and

construction authority of singapore in 2012.

as a responsible green developer, Keppel Land

has incorporated thoughtful design and eco-

friendly technology into the development.

flexible payment scheme

» Immediate move-in with only 40% down

payment*

» Pay just VnD 28 million per month and

enjoy 0% interest

*Special payment scheme is for limited period

only. Terms and conditions apply.

Visit the riviera Point sales Gallery at 584

huynh tan Phat, District 7 (open daily from

9 a.m. – 6 p.m.)

www.rivierapoint.com.vn

[email protected] | +84 8 3773 8777

riviera point - artist’s impression swimming pool



get your vouchers!

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Pandanus resort Superior Room$100 (2 nights)

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Novotel Nha trang Standard Room$140 (2 nights)

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somerset ho Chi Minh City gets a Major upgrade

No. 8A Nguyen Binh Khiem Street, D1, Ho Chi Minh City | [email protected] | www.somerset.com | +84 8 3822 8899

Somerset Ho Chi Minh City, one of the city’s most well-known family-friendly serviced residences, has recently received a US$11 million renovation upgrade.

operating for over 20 years, the serviced residence

is currently undergoing a major makeover for a

more contemporary look and feel. furthermore,

its facilities are being renovated for a more

positive guest and resident experience.

the World travel awards gave somerset the

“Vietnam’s Leading serviced apartment Brand”

award for three consecutive years; the serviced

residence has also received tripadvisor’s most

recent 2016 travellers’ choice and certificate of

excellence awards, as well as the 2015 Golden

Dragon award.

nestled in the heart of the central Business

District, somerset ho chi Minh city is minutes

away from Diamond Plaza, Kumho asiana Plaza,

saigon tower, several consulates and other key

business locations. there have been three main

focuses with this massive renovation: a more

contemporary look and feel; a renovated outdoor

linkway; new amenities; and a newly built

residents’ lounge and renovated reception area.

Contemporary look and feel

one of somerset ho chi Minh city’s three blocks

- Block B - has already been reimagined last year,

with all 198 apartments due to finish by the end

of this year. Designers have chosen neutral, clean

tones (off-white, beige and brown) accentuated

by hues of blue and grey to create an airy and

modern feel. LeD lights have replaced room and

walkway halogens to make for more natural and

energy-efficient lighting.

rooms now feature bamboo flooring, lending a

clean, chic look, along with matching upholstered

furniture. Beds have new linens and pillows, and

lamps and curtains have been replaced to be more

in line with the updated look. appliances including

kitchen equipment, fans, air-conditioners, and

the sound system and television have all been

replaced with up-to-date components. In addition

the ensuite bathrooms are completely redesigned

and modernised.

the luxurious refurbished apartments combine

the elements of space, comfort and privacy with

the services and convenience of a premium

quality hotel. the overall feeling one now gets

is a brighter, more open, and a more pleasant

aesthetic experience. Moreover, paintings of idyllic

natural life in Vietnam create a sense of ease. the

fully-equipped kitchen - with white oak laminate

cabinets and polished black granite countertops

- and separate living and dining areas allow

residents to return to a home away from home.

In a day and age where internet connection has

become a necessity, newly installed optic fiber

cables ensure the fastest connection possible

within the entire property.

renovated linkway and new amenities

the linkway connecting the three blocks and

all the facilities in somerset ho chi Minh city

will receive a makeover to create an enhanced

guest and resident experience. More green

spaces, a new international indoor and outdoor

restaurant, an improved children’s play area

and several other areas will be the main focus

of the linkway renovation. a bakery will be built

alongside a renovated convenience store.

new floor tiles and a contemporary, spacious

canopy will create a more pleasurable outdoor

experience for guests and residents alike. the gym

will be located beside the outdoor children’s play

area, therefore allowing residents exercising to

keep an eye on their children.

speaking of families, somerset ho chi Minh

city and its sister properties have a total of 140

children - making it the residential space with

the most families in the entire city. the family-

oriented environment now presents an even more

inviting and exciting atmosphere for children

and parents to live in.

new reception and residents’ lounge

the reception area in Block a will be expanded

and renovated to match the style of the rooms

and corridors throughout the property, featuring

a lotus leaves inspired ceiling installation amidst

a wood finish and bronze mirrors. In addition to

the space, the renovated residents’ Lounge will

allow residents to come down and watch sports

or movies with an LcD projector, access one of

several computers and unwind either indoors or

on the outdoor porch overlooking the outdoor

children’s play area.

this renovation is by far the biggest somerset

ho chi Minh city has had in 20 years, and from

the finished rooms and corridors in Block B of

the property, it looks to be one well worth the

investment.



#iAMhcMcAdvertorIAL


Deutsches Haus is “the symbol of the strategic partnership and friendship between Vietnam and Germany.”

deutsches haus: german world-Class design in hCMC

on the 1st of august 2017 Deutsches haus,

southeast asia’s most eco-friendly and well-

constructed building, will open its doors on

the corner of Le Duan and Le Van huu in

District 1, ho chi Minh city, right beside the

Intercontinental asiana saigon hotel.

the 25-storey, 40,000 sq m building represents the

union of the Vietnamese and German governments,

showcasing modern German technology and

acting as a model of sustainable design.

for the past five years, Germany has been

Vietnam’s biggest trade partner in the european

union, totaling a trade volume of us$8.92 billion

in 2015 alone. the Deutsches haus is to be the

central platform for German and central european

companies doing business with Vietnamese and

other asean businesses, as well as the place to

be for cultural exchange and relations.

the project aims to receive the usGBc LeeD

Platinum certification - the highest level of

green certification possible. this will be the first

building in Vietnam to receive LeeD’s Platinum

level, and is one of a few in southeast asia. LeeD

(Leadership in energy and environmental Design)

is a globally recognised certification that ensures

buildings use less energy.

examples of LeeD Platinum certified buildings

include the Phipps conservatory and Botanical

Gardens in Pittsburgh, u.s., which contain the

world’s only Platinum certified greenhouse; the

massive taipei 101 building in taiwan; canada’s

Manitoba hydro Place, quoted by cBc news as

one of “the most energy-efficient office towers in

the world”; and Kohinoor hospital, asia’s first

LeeD Platinum certified hospital.

currently, there are only a total of 40 green

certified buildings in the country, based on two

certifications: LeeD, and Lotus (a certification

similar to LeeD, but more attuned to Vietnam’s

climate and conditions). the first building to

garner a LeeD certification in Vietnam was

a manufacturing facility owned by colgate-

Palmolive. the Diamond Lotus is a LeeD-

certified condominium project that will have

three connected apartment complexes covered

in bamboo, to be built in the coming years.

the design of Deutsches haus has been entrusted

to world-renowned architect Meinhard von

Gerkan, who has over 50 years of experience.

Gerkan has designed tegel airport, Lingang new

city, the national Museum of china, the hanoi

Museum, hamburg airport, both the national

assembly and the national convention center

in hanoi, and many others.

the building’s double façade will eliminate the

heat of the sun while allowing a great deal of

sunlight to pass through, minimizing artificial

light usage while ensuring a comfortable interior.

In addition, this “double skin” will reduce noise

and provide superior thermal insulation.

this façade is unique in Vietnam and is to be a

milestone for future developments. LeD lights will

be used throughout the building for brighter and

more energy-efficient lighting; the building’s air

will be cleaned through a superior hospital grade

filtration system; personal comfort is pushed to

the forefront with particular attention to localised

temperature control, centralised dehumidification,

shading and daylight control and integration of

all non-life systems; rooftop solar panels will

be able to power the building’s lobbies during

normal business hours; and a thorough plan for

the building’s water system includes rainwater

harvesting, grey water flushing systems and the

reuse of treated sewage for irrigation and cooling.

the building will feature premium office space;

a residential living space on the top floors; an

international dining space with the largest rooftop

terrace in the city; an activity pool and a fitness

and yoga center; a multi-functional conference,

exhibition and event-space; public areas with

workspaces; coffee shops; a driver lounge and

mobile washing station for cars and motorbikes

parked at one of the four basement parking

levels; raised floors (functioning to hide wires and

regulate room temperature); and a fully-featured

lobby. the building will also be the new home for

the German consulate and other German and

european institutions.

the Deutsches haus is to be an environmentally

and culturally sound representation of the city’s

international future - and it seems to have been

entrusted to the right hands for the job.

33 Le Duan, D1 | +84 8 3821 9309 | deutscheshausvietnam.com

22

vnd 22,000

Artist’s Impression

•CloseproximitytotheCentralBusinessDistrict,InternationalSchools, upcomingAnPhuMetroStationandMetroHypermarket

•Ampleparkingspacewithonecarparklotforeveryapartment

•Ultimateresortlifestylewithawiderangeofmodernfacilities: two50mswimmingpools,lazypool,twochildren’spools,400mjoggingtrack, golfputtinggreen,skygarden,entertainmentlounge,multi-purposeroom, movieroom,gymnasiumandmore

•Exclusiveaccesstoskygymandskylounge

•Personalisedconciergeservices

•Fully-fittedapartmentswiththoughtfuldesignandluxuriousfittings

Discover a luxurious lifestyle matched by unparalleled convenience. Live in the most desirable address in the prime District 2 of Ho Chi Minh City, where a host of retail and recreational possibilities are at your doorstep. At the Estella Heights’ Signature Collection, there’s always something thoughtfully designed for everyone.

A NEW LIFT TO LIFE

S I G N A T U R E C O L L E C T I O N

Visit us at Estella Heights Sales OfficeVilla 1B16, No.25 Road,An Phu Ward, District 2, HCMC

(84-8) 3740 6600For enquiries, please call us at

www.estellaheights.com.vn

Another quality residential project by: Keppel Land’s accolades:

Special Promotion

* Terms and conditions apply

Artist’s Impression

COMPLIMENTARYINTERIOR PACKAGE

ORSHOPPING VOUCHER(WORTHVND100MIL)*

Interior package Shopping voucher

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