Vietnam

Flamingo Holdings win the Residential Development of the Year - Vietnam category at the recently held Real Estate Asia Awards 2023 for the success of its new development Flamingo Golden Hill.

Only 171 prime units were sold in the last quarter of 2022.

It had a significant contribution to the city’s high net absorption in Q4 2022.

The total supply is stable at 1.1 million sqm. 

Rents grew 1.1% to USD 79.1 per sqm per month across the city. 

And rents are expected to grow by 1.2%.

The office sector, meanwhile, is slowly recovering.

Leasing demand is back to pre-pandemic levels.

Thanks to the newly completed Vincom Mega Mall Smart City.

This is due to higher rents commanded by two properties in the area.

This brings the total leasable area to 598,400sqm by the end of the year.

Louis Vuitton and Christian Dior recently opened new flagship stores in Central Hanoi. 

Monthly net effective rents in Ho Chi Minh City increased 12.2% to USD41.7 per sqm.

It was a huge jump from the 1,142sqm recorded in Q1.

Net absorption reached 14,000sqm in Q1.

The company wins at the Real Estate Asia Awards 2022.