The performance of hotel industry in the third quarter of 2020 will not see much improvement as Vietnam has faced a second wave of Covid-19 since late July, CBRE said.
The venture aims to establish an initial forecast portfolio of approximately $350 million and focuses on Ho Chi Minh City, Hanoi and Danang.
Though it has been a difficult year so far, effective Covid-19 containment and the recently ratified EU Vietnam Free Trade Agreement (EVFTA) has bolstered global industrial investor confidence in Vietnam. The property segment most resilient to Covid-19 has further significant growth potential.
A five-star hotel Dolce Hanoi Golden Lake Hotel, which claims to be the first property in the world clad in gold tiles, has opened.
Alma, a 196-pavilion and 384-suite resort that commands 74 acres of beachfront, 14 sublime food and beverage outlets and a cascade of 12 beachfront swimming pools, will reopen in Vietnam’s new “it” destination on May 31 in the wake of Covid-19.
Due to the new ban on international travelers and rising concerns domestically, hotel occupancy in the first three weeks of March dropped dramatically to a single digit in many destinations within Vietnam.
The real estate consultancy anticipates elevated investment activity, sustainability and technology to be the next focus.
With their massive land funds and ample investment inflows for transport infrastructure development, the suburban cities surrounding Ho Chi Minh City are projected to become the next hotspot for investors and buyers.
Given the surging demand for tourism in Ba Ria-Vung Tau, especially during themajor holidays, local lodging services may soon find themselves overloaded. Theprovince is in great need of quality recreational properties.
According to JLL’s latest data, Southeast Asian and India markets offered the best returns for investors in 2019, and are expected to continue performing well in 2020.
