Construction Cost Handbook 2016 Vietnam

LANGDON & SEAH VIETNAM CO.
, LTD
2
Handbook Cover Photos:

1. Harmony Apartment Hanoi
2. Hilton Hanoi Hotel Hanoi

3. The Estella Height 1 HCMC
4. Mipec Riverside Residence Hanoi
5. Saigon Center Phase 2&3 HCMC
Copyright Statement and information caveat

Ninth Edition 2016
Langdon & Seah Vietnam Co., Ltd
All rights reserved. No part of this publication
may be produced, copied, stored or transmitted
in any form without prior written permission from
Langdon & Seah Vietnam Co., Ltd.
The information contained herein should be
regarded as indicative and for general guidance
only. Langdon & Seah Vietnam Co., Ltd makes
no representation, expressed or implied, with
regard to the accuracy of the information herein
and cannot accept any responsibility or liability
for any errors or omissions that may be made.
handbook are current as at 4th Quarter 2015.
TABLE OF CONTENT
Table of Content
Calendars
Introduction
6
7
1. CONSTRUCTION COST DATA

Construction Market 2016 Outlook
Major Rates for Selected Asian Cities
Construction Cost Specification
Construction Costs for Selected Asian Cities
M&E Costs for Selected Asian Cities
Utility Costs for Selected Asian Cities
10
18
26
28
36
44
2. GENERAL CONSTRUCTION DATA

Material Price Indices
Import Duties
Progress Payments
Estimating Rules of Thumb
50
52
53
54
LANGDON & SEAH VIETNAM CO., LTD
3. PROPERTY INVESTMENT
Building Control and Procedures

Project Closed Out Procedures
Typical Submission Flowchart
Key Planning Parameter
Building Areas Definitions
Procurement Strategies
Contractor Selection Strategies
Property Overview
58
62
63
64
67
72
77
82
4. VIETNAM BUSINESS ENVIRONMENT

Language
90
Accounting System
Banks
90
91
Government Administration
93
94
Taxation
Insurance
Workforce
98
104
5. OTHER INFORMATION
Vietnam Map
Domestic Routes
Relevant Websites
Public Holidays
Prime Rates
IDD Codes and Time Differences
Conversion Factors
Some Interesting Facts
Vietnam Key Data
Arcadis Asia Leadership Team
Arcadis Asia Sectors
Arcadis Asia Services
Directory of offices
Acknowledgement
108
109
110
112
121
122
124
126
128
132
134
137
139
155
CALENDARS
2016
1 2
31
3 4 5 6 7 8 9
10 11 12 13 14 15 16
JAN
17 18 19 20 21 22 23
24 25 26 27 28 29 30
APR
1
8
2
9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31
3
JUL
1
8
2
9
3 4 5 6
10 11 12 13
FEB
1
8
2
9
3 4 5
10 11 12
MAR
14 15 16 17 18 19 20
21 22 23 24 25 26 27
13 14 15 16 17 18 19
20 21 22 23 24 25 26
28 29
27 28 29 30 31
1
8
2
9
3 4 5 6 7
10 11 12 13 14
MAY
1
8
2
9
3 4
10 11
JUN
15 16 17 18 19 20 21
22 23 24 25 26 27 28
12 13 14 15 16 17 18
19 20 21 22 23 24 25
29 30 31
26 27 28 29 30
1
8
2
9
3 4 5 6
10 11 12 13
AUG
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
SEP
10 11 12 13 14 15 16
17 18 19 20 21 22 23
14 15 16 17 18 19 20
21 22 23 24 25 26 27
24 25 26 27 28 29 30
28 29 30 31
18 19 20 21 22 23 24
25 26 27 28 29 30
30 31
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
16 17 18 19 20 21 22
23 24 25 26 27 28 29
20 21 22 23 24 25 26
27 28 29 30
18 19 20 21 22 23 24
25 26 27 28 29 30 31
OCT
NOV
DEC
2017
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
JAN
22 23 24 25 26 27 28
29 30 31
30
2 3
1
8
APR
1
8
2
9
3 4
10 11
FEB
1
8
1
5
JUL
2
9
3 4
10 11
MAR
26 27 28 29 30 31
2
9
3 4 5 6
10 11 12 13
MAY
28 29 30 31
1
8
26 27 28
23 24 25 26 27 28 29
12 13 14 15 16 17 18
19 20 21 22 23 24 25
14 15 16 17 18 19 20
21 22 23 24 25 26 27
12 13 14 15 16 17 18
19 20 21 22 23 24 25
9 10 11 12 13 14 15
16 17 18 19 20 21 22
30 31
1
8
2
9
3 4 5
10 11 12
AUG
1
8
2
9
3
10
JUN
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30
1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
SEP
9 10 11 12 13 14 15
16 17 18 19 20 21 22
13 14 15 16 17 18 19
20 21 22 23 24 25 26
23 24 25 26 27 28 29
27 28 29 30 31
17 18 19 20 21 22 23
24 25 26 27 28 29 30
1 2 3 4 5 6 7
10 11 12 13 14
15 16 17 18 19 20 21
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
1 2
31
3 4 5 6 7 8 9
10 11 12 13 14 15 16
22 23 24 25 26 27 28
29 30 31
19 20 21 22 23 24 25
26 27 28 29 30
17 18 19 20 21 22 23
24 25 26 27 28 29 30
OCT
NOV
DEC
INTRODUCTION
INTRODUCTION
6
future annually published handbooks, focuses on the
major cities in Asia.
The handbook is structured to serve as a general
reference guide on construction cost indicators in Asia.
The information contained in this handbook has been
compiled by Langdon & Seah Vietnam Co., Ltd. Any
further information and/or if advice relating to particular
Langdon & Seah Vietnam Co., Ltd
INTRODUCTION
CONSTRUCTION COST DATA
Construction Market 2016 Outlook

Major Rates for Selected Asian Cities
Construction Costs for Selected Asian Cities

M&E Costs for Selected Asian Cities
Utility Costs for Selected Asian Cities

CONSTRUCTION MARKET 2016 OUTLOOK
2015 was very important year for our business and we
witnessed both a change of brand name and an
increase in synergies.
In 2016 and as ARCADIS we can now deliver global
construction and engineering expertise to all areas
within the built and natural environments.
We all know Vietnam has experienced a difficult time
over the past few years but so also has the rest of the
world. We at ARCADIS strongly believe that Vietnam
is now positioned for better times ahead and we look
forward to being involved in Vietnam ongoing
development.
As in 2015 much of the press has focused more on

politics rather than economic growth. The downturn in
China, the raising of interest rates in the USA and
potential the UK and geo political tensions all provide
reasons to expect lower global growth in 2015 than in
previous years.
12
10
Although Global GDP will be lower in 2016 we note

that Vietnam GDP growth remains quite strong at circa
6% on 2015 and circa 6.6% in 2016 it will remain
largely driven by exports and Foreign Direct
Investment.
THE GLOBAL ECONOMY 2016
Global GDP in 2015 will grow around 2.0% and the
fastest growing region will be Asia but few countries in
the region will improve upon their 2014 & 2015 growth.
Vietnam will likely be one the fastest growing Asian
economy at 6.6% growth.
The US and UK are likely to remain the best performing developed economies and Japan will continue its
own economic and structural reforms. QE has now
stopped in USA and UK where interest rate rises are
expected. Europe and Japan will continue their

ongoing of QE and China.
All commodities will at best be flat in 2016 and this will
continue to affect most Emerging Markets.
THE VIETNAM ECONOMY 2016
Vietnam will have one of the higher GDP growth rates
in the region at circa 6.6% and growth will continue to
be fuelled by exports and Foreign Direct Investment
(FDI). Low commodity prices will affect Vietnam
exports but we note that due to a greater increase of
higher value exports than the commodity downturn will
not significantly hamper expert grown. In fact Vietnam
balance of payments may improve due to the
commodity downturn.
The banking sectors non performing loans issues are
being rectified and as consequence we do expect an
improvement in money supply into the domestic
economy.
THE VIETNAM CONSTRUCTION MARKET 2016
The market will continue to remain flat and due to
limited access to credit. We do expect a greater FDI
focus into property development including private
investment into the residential market, industrial sector
and continued Overseas Development Assistance
(ODA) into the infrastructure sector.
Global commodity prices will at best be flat in 2016 but
from a low base and accordingly construction costs will
not increase significantly in 2016.
13
11
16
12
555
808
791
811
970
987 1,544 1,557 1,155 969
919
980 1,175 1588 2,013
285
391
2.47 0.98 1.31 1.71 1.27 1.14 1.22 1.97 4.67 6.04 11.50 10.00 11.00 10.05 10.00 10.55 12.35 14.50
No. of Projects
327
5.10 2.57 2.84 3.14 3.00 3.19 4.55 6.84 12.00 21.30 71.73 22.63 18.60 12.70 12.18 20.82 20.23 22.76
Legal Capital (bn US$)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Registered Capital (bn US$)
10
20
30
40
50
60
70
80
Annual Foreign Investment (1998-2015)
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
1
13
13.42
523
30.69
2,475
Malaysia
No. of Projects
Taiwan
Registered Capital
10
15
20
25
30
35
40
45
50
2,883
38.41
Japan
4,944
44.90
1,526
34.72
620
19.21
972
15.69
415
7.36
S. Korea Singapore B.V.Islands Hong Kong Thailand
FDI by countries as of Dec 2015
780
10.78
United
States
1,284
9.99
China
1,000
2,000
3,000
4,000
5,000
6,000

FDI BY SECTORS AS OF DECEMBER 2015
1%
5%
94%
16,097
260,944
94%
10,697
160,600
Industry and construction

Manufacturing
Property
492
50,473
Accommodation
442
11,952
1,258
10,834
95
4,388
Electricity, gas and

water production and
distribution
108
12,662
Information and
Communication
1,254
4,209
Wholesale & Retail;

Repair
1,708
4,469
43
1,356
Mining
Legal
Capital
(%)
No. of
projects
Construction
18
14
Registered
Capital
(mn US$)
Sector
Water supply & Waste

treatment
2
Agriculture & Forestry &

Aquaculture
Service
522
3,637
1%
3,310
14,457
5%
Art & Entertainment
143
3,622
Logistics
499
3,786
Finance, Banking &

Insurance
82
1,334
Health care & Social welfare
108
1,761
Science & Technology
1,920
2,098
Education and Training
239
709
Administration & Supporting services
167
406
3.09
Homecare
Others
Total
150
742.17
19,929
279,039
100%
(Source: Vietnam Investment Review)
1.35
1.65
1.77
2000
(Source: Ministry of Planning and Investment)
1.24
ODA Disbursement
1.50
1998 1999
2.44
ODA Conclusion
Billion US$
1.50
2.41
1.53
1.81
2001 2002
1.42
1.76
2003
1.65
5.57
2004
1.79
2.52
2005
1.79
2.82
2006
2.18
3.80
2007
2.14
3.46
2008
4.10
5.40
2009
3.54
3.40
2010
3.65
6.80
2011
4.18
5.87
2012
5.13
6.6
2013
5.66
4.38
2014
5.00
3.5
2015
VIETNAM ANNUAL ODA
19
15
5.35
2000
(Source: General Statistics Office)
Construction, % of GDP
%8
5.80
2001
5.89
2002
6.05
2003
6.25
2004
6.36
2005
6.62
2006
6.96
2007
6.49
2008
6.70
2009
7.03
2010
6.41
2011
6.08
2012
5.35
2013
5.33
2014
5.44
2015
1.94
2.07
2.82
3.36
4.03
1.94
5.35
7.51 12.78
Construction, % of GDP
Construction, Real Growth,

% y-o-y
5.80
2001
1.63
6.05
2.39
2003
10.57 10.59
5.89
2.07
2002
9.03
6.25
2.82
2004
5.83
10.80
6.36
3.36
6.96
4.95
2007
11.05 12.10
6.62
4.03
2006
2007 2008
4.95
2005
2003 2004 2005 2006
2000
2000 2001 2002
1.63
2.39
Construction Value, US$bn
10
12
0.02
6.49
5.83
2008
11.36
6.70
6.19
2009
2009 2010
6.19
7.26
Construction Value, US$bn
8.59
6.41
7.86
2011
10.06 (0.97)
7.03
7.26
2010
2.09
6.08
8.59
2012
5.83
5.35
9.14
2013
2011 2012 2013
7.86
9.14
7.07
5.33
9.80
2014
2014
9.80
10.82
5.44
10.39
2015
2015
10.39
22
18
350,000 - 386,900
m3
m3 1,377,900 - 1,522,900
4. Hardcore bed blinded with fine materials
5. Mass concrete grade 15
17,600 - 19,500
16,000 - 17,700
184,000 - 203,300
235,300 - 260,000
198,000 - 218,800
kg
kg
m2
m2
m2
6. Reinforced concrete grade 30
7. Mild steel rod reinforcement
8. High tensile rod reinforcement
9. Sawn formwork to soffits of suspended slabs
10. Sawn formwork to columns and walls
11. 112.5mm thick brick walls
1,787,400 - 1,975,500
70,400 - 77,800
m3
3. Remove excavated materials off site
76,400 - 84,500
2. Excavating for footings not exceeding 1.5m deep
68,300 - 75,400
VND
HO CHI MINH#
m3
Unit
1. Excavating basement not exceeding 2m deep
DESCRIPTION
45 - 50
38 - 45
38 - 45
3.00 - 3.30
3.00 - 3.30
260 - 320
240 - 280
60 - 70
20 - 25
15 - 20
15 - 20
RM
KUALA LUMPUR
700
420
420
22
23
2,600
2,200
650
120
120
120
BAHT
BANGKOK#
17.50
15.00
15.00
0.65
0.65
130.00
124.00
43.00
3.00
3.00
3.50
B$
BRUNEI
1
MAJOR RATES FOR SELECTED ASIAN CITIES
23
19
283,500 - 313,300
77,700 - 85,800
m2
20. Two coats of emulsion paint to plastered surfaces
Average expected preliminaries
55 - 60
6 - 12
3.50 - 4.50
35 - 45
50 - 70
15 - 22
15 - 22
6.00 - 8.00
6.00 - 8.00
350 - 500
12 - 18
120
800
1,200
220
200
55
55
7,000
1,200
The above cost are at 4th Quarter 2015 levels, exclusive of preliminaries and contingencies unless otherwise stated.
# Rates are nett of VAT
8 - 12
239,500 - 264,700
m2
17. 20mm Cement and sand (1:4) plaster to walls
m2
82,000 - 90,600
m2
16. 25mm Cement and sand (1:3) paving
57,400 - 63,500
kg
15. Steelwork - angles, channels, flats and the like
19. 12mm fibrous plasterboard ceiling lining
28,500 - 31,500
kg
14. Structural steelwork - beams, stanchions and the like
18. Ceramic tiles bedded to floor screed (m/s)
26,000 - 28,700
m2
13. Aluminium casement windows, single glazed
494,200 - 546,200
2,660,000 - 2,940,000
m2
12. "Kliplok Colorbond" 0.64mm profiled steel sheeting
58.00
5-8
5.00
28.00
33.00
8.00
9.00
3.20
3.50
160 - 210
22
20
3,500
42
43
1,050
1,200
10
m3
170
170
m2
10
190
kg
kg
m2
370
m3
N/A
850
900
2,750
784
145
38
m3
250
45
220
PHP
MANILA
35
RP000
JAKARTA#
m3
Unit
DESCRIPTION
35.00-40.00
42.00
42.00
1.20-1.30
1.20-1.30
130.00-135.00
190.00-200.00
50.00
15.00-20.00
20.00
20.00
S$
SINGAPORE**
420
420
420
9.50
9.50
1,400
1,200
950
280
205
225
HK$
HONGKONG
72
73
85
4.00
4.00
517
433
170
37
31
26
RMB
BEIJING
1
21
25
m2
m2
m2
m2
6 - 10
12 - 18
250
275
1,600
965
220
95
95
25
25
60
75
160
150
25
1,100
10,500
250
1,200
13 - 17
21.00
22.00
74.00
30.00
3.50-4.00
4.80-5.80
4.80-5.80
43.00
290.00
10 - 15
140
145
380
570
60
38
42
880
2,950
** Rates are nett of GST
Jakarta - Item 19 - 9 mm gypsum board
Manila - Item 13 - Aluminium with anodized finish; 6mm thick
Singapore - Item 5 - Rate for lean concrete blinding
Hong Kong - Item 3 - Rate including dumping charges
Beijing - Item 13 - rate for double glazed window
m2
m2
m2
kg
kg
7 - 10
27
28
140
162
32
9.35
8.50
N/A
815
22
3.40
84
84
85
kg
m2
m2
3.40
kg
m2
420
m3
320
m3
165
98
m3
30
30
m3
RMB
m3
Unit
SHANGHAI
DESCRIPTION
60
80
80
5.00
5.00
484
449
180
65
25
30
RMB
SHENZHEN
/GUANG-ZHOU
65
50
50
3.50
3.50
360
340
150
52
25
18
RMB
CHONGQING
/ CHENGDU
70
90
90
4.20
4.20
500
410
150
35
25
22
RMB
SHENYANG
1
23
150
39
m2
N/A
5 - 10
30
180
150
25
30
8.00
10.00
525
N/A
5 - 10
35
120
120
32
28
8.50
8.50
700
Shanghai - Item 11 - Rate for 120mm thick concrete block walls
Chongqing/Chengdu, Shenyang - Item 13 - rate for double glazed window
5 - 10
155
m2
m2
26
m2
25
kg
8.00
kg
10.00
m2
N/A
690
m2
N/A
5 - 10
30
120
165
26
25
9.80
9.80
700
22
24
4.20
92
92
70
kg
m2
m2
m2
4.20
500
kg
420
m3
170
m3
30
33
m3
28
RMB
DALIAN
m3
Unit
DESCRIPTION
500
280
280
8.00
8.00
1,300
1,400
1,100
90
140
120
MOP
MACAU
940
650
600
65
63
6,850
5,650
4,025
NA
195
175
Rs
INDIA@
44,700
29,400
29,400
1,280
1,240
78,000
64,400
29,200
9,900
1,930
1,930
KRW
SEOUL^^
1
29
25
140
32
m2
N/A
6 - 12
200
650
500
150
120
43
38
4,000
8 - 12
210
1,100
1,450
340
400
103
103
5,250
1,425
39,300
6 - 11
7,870
26,500
64,400
9,300
3,160
1,660
1,660
321,000
@ All rates above are Supply & Fix based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher
^^ Rates include labour costs and are nett of VAT
Dalian - Item 13 - rate for double glazed window
5 -10
140
m2
m2
40
m2
37
kg
9.80
kg
9.80
m2
N/A
700
m2
30
26
Detached houses, high end
Terraced houses, average standard
Apartments, high rise, high end
HOTELS
INDUSTRIAL
OUTLINE SPECIFICATION
RC structure with steel roof and M&E to main distribution, but excluding a/c, heating and lighting
Including public area fit-out and M&E, but excluding shop fit-out
RC structure, curtain wall, including public area fit-out, tenant area with raised floor/carpet,
painted wall and false ceiling
Apartment units with fit-out, including air-conditioning, kitchen cabinets and home appliances,
but excluding decorative light fittings and loose furniture
Apartment units with good quality fit-out, including air-conditioning, kitchen cabinets and home
appliances, but excluding decorative light fittings and loose furniture
Houses with fit-out, including air-conditioning, kitchen cabinets and home appliances, but
excluding decorative light fittings, loose furniture, garden and parking
Houses with good quality fit-out, including air-conditioning, kitchen cabinets and home
appliances, but excluding decorative light fittings, loose furniture, garden and parking
Luxury hotels - 5-star
Business hotels - 4/5-star
Budget hotels - 3-star, mid market
1) Interior decoration
2) Furniture (fixed and movable)
3) Special light fittings (chandeliers, etc.)
4) Operating Supplies and Equipment (OS&E) excluded
Owner operated factories, low rise, light weight industry RC structure, including small office with simple fit-out and M&E, but excluding a/c and heating
Medium/high rise offices, average standard

High rise offices, prestige quality
OFFICE /
COMMERCIAL Out-of-town shopping centre, average standard
Retail malls, high end
Industrial units, shell only
(Conventional single storey framed units)
DOMESTIC
Apartments, high rise, average standard
BUILDING
1
CONSTRUCTION COST SPECIFICATION
31
27
Including fit-out and a/c, but excluding educational equipment
Including fit-out, loose furniture and a/c
Dry sports (no swimming pool) and are for 'leisure centre' type schemes including main
sports hall, ancillary sports facilities, changing and showers, restaurant / cafe, bar, etc. Costs
include a/c, Furniture, Fittings and Equipment (FF&E).
Excluding medical and operating equipment
Schools (primary and secondary)
Students' residences
Sports clubs, multi purpose sports/leisure

centres (dry sports)
General hospitals - public sector
5. All costs are in US$/m2 CFA. Fluctuation in exchange rates may lead to changes in construction costs expressed in U.S. dollars.
4. The standard for each category of building varies from region to region and do not necessary follow that of each other.
The cost excludes site formation works, external works, land cost, professional fees, finance and legal expenses.
3. All bulidings are assumed to have no basements (except otherwise stated) and are built on flat ground, with normal soil and site condition.
lift shafts, stairwells, balconies, plant rooms, water tanks and the like.
2. The costs per square metre are based on Construction Floor Areas (CFA) measured to the outside face of the external walls / external perimeter including
building will depend upon the design and many other factors and may vary from the figures shown.
1. The costs for the respective categories given above are averages based on fixed price competitive tenders. It must be understood that the actual cost of a
Notes:
OTHERS
RC structure
Multi storey car parks, above ground (<4 levels) RC structure, natural ventilaion, no facade enclosure
Underground/basement car parks (<3 levels)
32
28
605 - 755
765 - 885
405 - 475
465 - 565
710 - 825
815 - 1,110
N/A
655 - 860
1,305 - 1,590
N/A
1,690 - 1,960
OFFICE/COMMERCIAL
Out-of-town shopping centre, average standard
HOTELS
HO CHI MINH ##
DOMESTIC
DESCRIPTION
965 - 1,350
1,675 - 1,960
1,855 - 2,175
575 - 665
835 - 1,130
515 - 615
635 - 825
305 - 460
735 - 880
210 - 305
715 - 880
KUALA
LUMPUR
1,053 - 1,165
1,348 - 1,544
1,573 - 1,685
590 - 730
772 - 983
576 - 744
772 - 800
604 - 730
899 - 1,067
421 - 505
730 - 885
BANGKOK#
US$/m2
1,537 - 1,840
2,167 - 2,471
2,225 - 2,528
813 - 1,116
1,149 - 1,453
789 - 1,092
1,040 - 1,343
813 - 1,116
1,004 - 1,307
526 - 829
800 - 1,103
BRUNEI
1,093 - 1,292
1,492 - 1,663
1,596 - 1,805
627 - 698
926 - 1,045
542 - 599
599 - 646
636 - 722
879 - 998
342 - 442
922 - 1,112
JAKARTA###
1
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES
33
29
345 - 475
200 - 255
210 - 235
265 - 295
560 - 610
835 - 1,040
RM 4.33
N/A
VND 22,410
415 - 465
360 - 475
605 - 725
385 - 425
505 - 555
505 - 655
755 - 805
305 - 385
305 - 380
BAHT 35.61
N/A
505 - 660
168 - 270
N/A
N/A
N/A
N/A
449 - 562
B$ 1.37
1,843 - 2,146
N/A
416 - 720
610 - 913
713 - 1,016
1,640 - 1,943
511 - 814
375 - 678
The above cost are at 4th Quarter 2015 levels, inclusive of preliminaries and contingencies unless otherwise stated.
# Rates exclude VAT and contingencies
## Rates are nett of VAT and contingencies
### Rates are nett of VAT
Exchange Rate Used : US$1 =
OTHERS
Multi storey car parks, above ground (<4 levels)
Sports clubs, multi purpose sports/leisure centres
(dry sports)
INDUSTRIAL
Industrial units, shell only (Conventional single
storey framed units)
Owner operated factories, low rise, light weight
industry
IDR 13,750
N/A
442 - 541
287 - 310
N/A
N/A
998 - 1,496
310 - 343
287 - 310
34
30

HOTELS

OFFICE/COMMERCIAL

DOMESTIC
DESCRIPTION
1,180 - 1,375
1,350 - 1,685
1,575 - 2,030
820 - 870
1,260 - 1,365
735 - 870
1,080 - 1,260
860 - 920
1,170 - 1,310
605 - 690
1,280 - 1,370
MANILA*
2,180 - 2,360
2,790 - 3,145
2,790 - 3,145
1,750 - 1,930#
1,930 - 2,145#
1,930 - 2,075
2,075 - 2,290
1,360 - 1,540
2,075 - 3,075
1,750 - 1,965
2,215 - 2,930
SINGAPORE**
4,010 - 4,330
4,210 - 4,970
4,920 - 5,710
3,080 - 3,650
3,820 - 4,710
3,140 - 3,690
4,180 - 4,960
3,140 - 3,690
4,240 - 4,940
4,310 - 5,030
5,580 - 6,350
HONG KONG^
US$/m2
1,010 - 1,245
1,715 - 2,190
2,190 - 2,820
900 - 1,215
1,215 - 2,000
695 - 930
1,245 - 1,715
630 - 695
1,575 - 1,795
929 - 1,010
1,795 - 1,875
BEIJING$
1
35
31
5,130 - 5,830
2,790 - 2,930
SG 1.40
1,350 - 1,475
PHP 47.00
HK$ 7.8
2,370 - 2,950
1,470 - 1,730
2,590 - 2,810
2,540 - 2,950
3,970 - 4,490
945 - 1,290
665 - 945^^
N/A
1,610 - 1,750
2,000 - 2,145
2,410 - 3,060
N/A
560 - 650
510 - 560
460 - 606
690 - 765
690 - 765
1,180 - 1,425
N/A
740 - 945
450 - 460
RMB 6.35
1,245 - 1,560
770 - 850
455 - 535
535 - 695
380 - 535
930 - 1,245
N/A
535 - 615
Rates are exclusive of contingencies.
Rates are nett of GST and exclusive of contingencies
Houses are built to shell and core standard ONLY,
Open on all sides with parapet
where all tenant or occupant areas are unfurnished.
Rates are exclusive of contingencies
Schools (primary and secondary) are of public authority
Offices of average standard are built to the following provisions:
standard, no a/c and complete with basic external works.
(i) Curtain wall/window wall facade
Includes raised floor and ceiling to tenanted areas but
(ii) Tenant are with screeded floor, painted wall and ceiling
excludes office carpets (normally under tenant's fit-out)
Schools (primary and secondary) are of public authority standard,
Rates are exclusive of contingencies & include 12% VAT
no a/c and complete with basic external works.
OTHERS
(dry sports)
INDUSTRIAL
industry
36
32
HOTELS
OFFICE/COMMERCIAL
DOMESTIC
DESCRIPTION
975 - 1,195
1,645 - 2,245
2,245 - 2,695
900 - 1,195
1,195 - 1,495
N/A
1,270 - 1,645
675 - 750
1,645 - 1,800
450 - 480
675 - 750
SHANGHAI$
980 - 1,085
1,585 - 1,750
2,160 - 2,385
755 - 836
1,045 - 1,155
720 - 795
1,065 - 1,175
520 - 575
865 - 955
390 - 435
535 - 590
SHENZHEN
GUANGZHOU$
945 - 1,180
1,655 - 2,125
N/A
805 - 960
1,025 - 1,415
630 - 835
1,100 - 1,495
490 - 645
785 - 1,040
385 - 470
530 - 630
CHONGQING
CHENGDU$
US$/m2
980 - 1,080
1,480 - 1,930
N/A
815 - 890
1,110 - 1,260
666 - 740
1,110 - 1,260
520 - 590
860 - 965
385 - 445
520 - 565
SHENYANG$
1
33
N/A
1,495 - 1,945
RMB 6.35
RMB 6.35
N/A
N/A
330 - 395
N/A
N/A
N/A
The above cost are at 4th Quarter 2015 levels, inclusive of preliminaries and contingencies unless otherwise stated
$ Rates are exclusive of contingencies.
Houses are built to shell and core standard ONLY, where all tenant or occupant areas are unfurnished.
Schools (primary and secondary) are of public authority standard, no a/c and complete with basic external works.
RMB 6.35
500 - 795
355 - 390
395 - 435
250 - 280
740 - 815
N/A
N/A
N/A
750 - 1,050
375 - 525
525 - 675
375 - 525
975 - 1,195
440 - 585
495 - 545
525 - 600
OTHERS
(dry sports)
INDUSTRIAL
industry
RMB 6.35
N/A
560 - 625
350 - 375
N/A
N/A
N/A
N/A
N/A
38
34
560 - 650
1,070 - 1,170
415 - 475
560 - 625
845 - 905
1,155 - 1,215
740 - 830
1,140 - 1,290
1,010 - 1,095
1,700 - 1,930
N/A
OFFICE/COMMERCIAL
HOTELS
DALIAN$
DOMESTIC
DESCRIPTION
3,295 - 3,720
4,475 - 5,340
5,340 - 6,315
2,505 - 3,235
3,235 - 3,535
2,355 - 3,535
3,710 - 4,475
2,170 - 2,655
3,035 - 4,635
3,710 - 4,425
4,510 - 5,875
MACAU***
US$/m2
725 - 805
1,130 -1,340
1,430 -1,585
385 - 420
480 - 510
375 - 410
525 - 570
510 - 585
775 - 930
350 - 375
460 - 485
INDIA@
1,646 - 2,069
2,306 - 3,979
2,562 - 4,093
1,197 - 1,364
1,391 - 1,690
1,127 - 1,743
1,320 - 2,183
1,347 - 1,629
1,620 - 1,981
N/A
2,210 - 3,363
SEOUL##
1
39
35
MOP 7.98
N/A
N/A
RMB 6.35
1,955 - 2,870
1,080 - 1,415
2,155 - 2,505
1,715 - 1,990
N/A
N/A
N/A
N/A
365 - 380
N/A
N/A
N/A
N/A
N/A
INR 65
585 - 640
250 - 270
195 - 215
245 - 270
270 - 300
535 - 560
320 - 375
300 - 355
KRW 1,136
N/A
942 - 1,109
581 - 757
N/A
1,382 - 1,488
N/A
N/A
660 - 836
Rates are exclusive of contingencies.
Houses are built to shell and core standard ONLY, where all tenant or occupant areas are unfurnished.
Schools (primary and secondary) are of public authority standard, no a/c and complete with basic external works.
Rates are based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher
Rates are nett of VAT and exclusive of contingencies
Rates are exclusive of contingencies and any management contract fee
OTHERS
(dry sports)
INDUSTRIAL
industry
40
36
1,736,000 -2,474,000
N/A
N/A
N/A
1,387,000 - 1,900,000
2,037,000 -2,429,000
N/A
N/A
N/A
1,796,000 - 2,269,000
281,000 - 534,000
ELECTRICAL SERVICES
Offices
Industrial**
Hotels
Shopping Centres
Apartment
HYDRAULIC SERVICES
Offices
VND/m2
HO CHI MINH
MECHANICAL SERVICES
Offices
Industrial*
Hotels
Shopping Centres
Apartment
DESCRIPTION
26 - 59
230 - 470
144 - 160
255 - 600
210 - 280
88 - 220
360 - 475
62 - 90
290 - 465
300 - 410
210 - 295
RM/m2
KUALA
LUMPUR
790 - 910
3,400 - 3,600
1,950 - 2,200
3,800 - 4,200
2,800 - 3,010
2,800 - 3,350
4,400 - 4,800
1,550 - 1,600
4,600 - 5,100
4,400 - 4,800
4,400 - 4,500
BAHT/m2
BANGKOK##
16 - 39
233 - 292
194 - 233
292 - 381
221 - 317
252 - 317
181 - 226
23 - 39
292 - 336
207 - 246
214 - 246
B$/m2
BRUNEI
190 - 290
780 - 1,040
440 - 690
790 - 1,110
690 - 870
780 - 1,040
965 - 1,140
300 - 700
965 - 1,300
855 - 1,030
855 - 1,110
RP000/m2
JAKARTA$
1
M&E COSTS FOR SELECTED ASIAN CITIES
41
37
650,000 - 1,079,000
N/A
N/A
N/A
446,000 - 561,000
611,000 - 1,165,000
N/A
N/A
1,243,000 - 1,760,000
694,000 - 1,004,000
FIRE SERVICES
Offices
Industrial
Hotels
Shopping Centres
Apartment
LIFTS/ESCALATORS
Offices
Industrial
Hotels
Shopping Centres
Apartment
88 - 400
55 - 190
85 - 370
85 - 110
63 - 105
60 - 80
45 - 65
65 - 95
65 - 85
20 - 25
37 - 46
180 - 250
26 - 35
20 - 50
1,050 - 1,180
N/A
1,100 - 1,200
250 - 450
500 - 580
780 - 850
730 - 750
780 - 890
780 - 820
720 - 850
750 - 790
1,400 - 1,650
790 - 950
1,200 - 1,400
9 - 32
4 - 19
12 - 45
12 - 36
11 - 26
32 - 39
12 - 19
26 - 49
32 - 66
26 - 52
11 - 19
61 - 84
12 - 41
38 - 60
* Generally without A/C
** Excludes special power supply
## Based upon nett enclosed area and nett of VAT
$ All rates are nett of VAT. Rates for Electrical Services are excluding genset. Rates for Hydraulic Services are excluding STP
Rates for Mechanical Services refers to ACMV Rates only
N/A
N/A
N/A
546,000 - 647,000
Industrial
Hotels
Shopping Centres
Apartment
430 - 1,170
N/A
430 - 1,090
320 - 870
420 - 870
250 - 390
110 - 200
270 - 390
270 - 310
270 - 310
110 - 200
790 - 1,110
190 - 290
770 - 1,110
42
38
3,000 - 5,000
650 - 1,500
3,000 - 6,500
2,500 - 4,500
600 - 3,000
3,300 - 6,000
2,000 - 3,500
4,700 - 9,000
3,060 - 6,000
3,600 - 6,300
900 - 2,000
ELECTRICAL SERVICES
Offices
Industrial**
Hotels
Shopping Centres
Apartment
HYDRAULIC SERVICES
Offices
PESOS/m2
MANILA^
MECHANICAL SERVICES
Offices
Industrial*
Hotels
Shopping Centres
Apartment
DESCRIPTION
30 - 60
170 - 275
55 - 145
195 - 380
170 - 325
105 - 245
165 - 270
35 - 125
140 - 300
160 - 265
95 - 180
S$/m2
SINGAPORE^^
600 - 750
1,750 - 2,500
650 - 900
1,900 - 2,600
1,900 - 2,500
1,100 - 1,750
2,000 - 2,800
200 - 300
2,200 - 2,750
2,300 - 2,850
850 - 1,750
HK$/m2
HONG KONG
95 - 140
460 - 703
320 - 450
705 - 943
481 - 676
253 - 398
760 - 1,050
170 - 280
910 - 1,150
790 - 950
140 - 410
RMB/m2
BEIJING
1
43
39
70 - 180
45 - 115
70 - 120
60 - 100
45 - 125
35 - 60
25 - 55
35 - 60
40 - 60
25 - 55
20 - 40
100 - 190
50 - 90
80 - 155
700 - 1,200
550 - 750
550 - 850
850 - 1,000
450 - 850
550 - 700
400 - 500
600 - 850
550 - 700
150 - 250
450 - 600
1,800 - 2,500
600 - 750
1,250 - 2,000
^ Transformer, included in Electrical Services
^^ Rates are nett of GST and excluding BAS
1,600 - 2,900
N/A
1,800 - 3,000
595 - 2,000
800 - 2,100
700 - 1,200
600 - 900
700 - 1,200
700 - 1,300
650 - 1,300
FIRE SERVICES
Offices
Industrial
Hotels
Shopping Centres
Apartment
LIFTS/ESCALATORS
Offices
Industrial
Hotels
Shopping Centres
Apartment
700 - 1,300
1,950 - 4,000
700 - 1,600
1,400 - 2,700
Industrial
Hotels
Shopping Centres
Apartment
294 - 577
145 - 400
232 - 520
327 - 520
175 - 289
180 - 265
150 - 225
220 - 375
220 - 375
70 - 135
95 - 140
370 - 480
140 - 200
170 - 230
44
40
761 - 966
173 - 289
971 - 1,265
1,050 - 1,103
310 - 410
593 - 651
305 - 431
651 - 830
520 - 651
252 - 368
110 - 163
ELECTRICAL SERVICES
Offices
Industrial**
Hotels
Shopping Centres
Apartment
HYDRAULIC SERVICES
Offices
RMB/m2
SHANGHAI
MECHANICAL SERVICES
Offices
Industrial*
Hotels
Shopping Centres
Apartment
DESCRIPTION
122 - 166
530 - 765
306 - 445
680 - 916
483 - 653
278 - 445
765 - 1,040
150 - 268
1,071 - 1,339
707 - 954
122 - 380
RMB/m2
SHENZHEN
GUANGZHOU
N/A
N/A
N/A
2,600 - 3,100
2,600 - 2,800
1,000 - 1,300
N/A
N/A
2,600 - 3,000
2,200 - 2,800
900 - 1,100
MOP/m2
MACAU
60 - 120
420 - 650
250 - 350
500 - 750
400 - 650
220 - 330
680 - 980
130 - 220
720 - 1,150
580 - 980
90 - 280
RMB/m2
CHONGQING
CHENGDU
1
45
41
220 - 300
150 - 250
280 - 380
250 - 380
50 - 100
280 - 550
135 - 390
220 - 495
325 - 495
165 - 325
FIRE SERVICES
Offices
Industrial
Hotels
Shopping Centres
Apartment
LIFTS/ESCALATORS
Offices
Industrial
Hotels
Shopping Centres
Apartment
294 - 481
150 - 434
241 - 465
326 - 460
122 - 268
224 - 348
139 - 267
278 - 413
247 - 370
64 - 122
86 - 112
391 - 493
112 - 150
145 - 257
N/A
N/A
600 - 800
450 - 700
450 - 600
N/A
N/A
900 - 1,100
600 - 800
250 - 300
N/A
1,800 - 2,200
600 - 800
1,500 - 2,000
89 - 131
368 - 488
137 - 184
168 - 226
Industrial
Hotels
Shopping Centres
Apartment
330 - 580
140 - 340
280 - 480
280 - 430
130 - 230
160 - 230
130 - 230
180 - 300
200 - 300
45 - 90
60 - 120
280 - 350
60 - 120
100 - 180
46
42
585 - 683
N/A
683 - 780
585 - 878
98 - 293
439 - 634
N/A
683 - 878
488 - 585
293 - 390
30 - 118
ELECTRICAL SERVICES
Offices
Industrial**
Hotels
Shopping Centres
Apartment
HYDRAULIC SERVICES
Offices
RMB/m2
SHENYANG
MECHANICAL SERVICES
Offices
Industrial*
Hotels
Shopping Centres
Apartment
DESCRIPTION
69 - 118
458 - 673
N/A
702 - 897
507 - 605
215 - 312
585 - 683
N/A
683 - 780
585 - 683
98 - 293
RMB/m2
DALIAN
36,000 - 59,000
210,000 - 395,000
130,000 - 190,000
300,000 - 490,000
180,000 - 262,000
140,000 - 189,000
230,000 - 301,000
96,000 - 165,000
223,000 - 353,000
155,000 - 255,000
99,000 - 180,000
KRW/m2
SEOUL#
665 - 1,005
3,765 - 5,195
2,225 - 3,700
4,200 - 5,725
3,600 - 4,825
1,825 - 2,500
4,250 - 6,050
1,965 - 3,500
5,250 - 5,725
4,085 - 5,350
2,335 - 2,865
INR/m2
INDIA@
1
43
146 - 224
N/A
127 - 224
49 - 146
49 - 127
300 - 550
N/A
300 - 500
140 - 230
120 - 250
FIRE SERVICES
Offices
Industrial
Hotels
Shopping Centres
Apartment
LIFTS/ESCALATORS
Offices
Industrial
Hotels
Shopping Centres
Apartment
250 - 350
150 - 250
120 - 200
300 - 550
146 - 224
N/A
146 - 224
146 - 195
59 - 146
N/A
197 - 296
118 - 167
99 - 148
42,000 - 67,000
16,000 - 26,000
100,000 - 175,000
48,000 - 84,000
29,000 - 41,000
32,000 - 65,000
25,000 - 38,000
38,000 - 85,000
26,000 - 70,000
35,000 - 68,000
23,000 - 33,000
74,000 - 115,000
30,000 - 60,000
51,000 - 78,000
875 - 1,115
565 - 730
1,275 - 1,850
1,485 - 1,910
795 - 1,010
1,050 - 1,375
505 - 665
1,225 - 1,565
1,010 - 1,165
555 - 670
450 - 795
3,445 - 5,195
980 - 1,775
1,550 - 2,150
@ Rates are based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher
N/A
197 - 296
118 - 167
99 - 197
Industrial
Hotels
Shopping Centres
Apartment
48
44
GUANGZHOU
BEIJING
BRUNEI
BANGALORE
BANGKOK
KUALA LUMPUR
HO CHI MINH +
COUNTRY
0.653
0.473
1.014*
0.719*
1.120
N/A
N/A
N/A
N/A
0.645
0.439
0.867
0.648
0.920
0.478 - 0.527
0.290 0.483
0.267 0.444
0.967
0.238 - 0.462
0.260 0.441
0.239 0.406
0.242-0.580
0.110 - 0.147
0.088 - 0.118
0.081 0.083
0.074 0.076
0.115-0.123
0.050 - 0.132
0.057 0.120**
0.052 0.111**
0.043-0.093
RM 4.33
Baht : 32.75
Baht : 35.61
INR 62
4th Quarter 2015
4th Quarter 2014
4th Quarter 2015
RMB 6.14
RMB 6.35
4th Quarter 2014
4th Quarter 2015
0.1
0.1
0.16/0.11
1.31
1.00
N/A
N/A
1.18
0.86
0.57
0.55
0.32
0.31
0.98
1.13
0.07
RMB 6.35
4th Quarter 2015
N/A
N/A
1.12
1.16
0.81~1.47
0.16
0.24(peak)
0.13(normal)
0.16/0.11
0.08
RMB 6.14
4th Quarter 2014
0.86
0.427
0.411
0.306
0.492 - 0.532
0.088 - 0.355
0.058 - 0.162
0.008 - 0.12
B$1.26
4th Quarter 2015
1.28
0.427
0.411
0.306
0.492 - 0.532
0.088 - 0.355
0.058 - 0.162
0.008 - 0.12
B$1.26
4th Quarter 2014
0.78~1.42
0.993
N/A
0.762
1.338
0.400-0.692
0.116-0.121
0.042-0.098
INR 65
4th Quarter 2015
4th Quarter 2014
0.81-0.84++++
NA
N/A
0.61+++
0.75/0.43
0.598 - 0.659
0.24-0.51
0.165 - 0.578
0.09-0.16 / 0.06-0.11
0.11++
0.063 - 0.165
US$/litre
0.95-0.98++++
NA
0.89+++
0.8/0.49
0.25-0.54
Unleaded
US$/litre
US$/litre
US$/m3
FUEL
US$/m3
Leaded
Diesel
WATER
Commercial/
Industrial
Domestic
RM 3.46
0.09-0.16 / 0.06-0.11
Commercial/
Industrial
US$/kwh
ELECTRICITY
VND 22,410
4th Quarter 2015
0.11++
US$/kwh
Domestic
4th Quarter 2014
VND 21,282
4th Quarter 2014
US$1=
Exchange
Rate Used
1
UTILITY COST FOR SELECTED ASIAN CITIES
49
45
SINGAPORE*
SEOUL
NEW DELHI
MANILA
JAKARTA
CHONGQING
SHANGHAI
MACAU
HONG KONG
0.20^
0.15^
S$1.26
S$1.40
4th Quarter 2015
0.05 - 0.165***
4th Quarter 2015 KRW 1,136.00
4th Quarter 2014
0.129*
0.062-0.130
INR 65
4th Quarter 2015
4th Quarter 2014 KRW 1,114.60
0.064-0.130
INR 62
**0.21-0.22'
PHP 47.00
4th Quarter 2015
4th Quarter 2014
**0.22-0.27'
PHP 44.50
4th Quarter 2014
0.111
IDR 13,750
4th Quarter 2015
0.08
0.125
RMB 6.35
IDR 12,150
4th Quarter 2015
4th Quarter 2014
0.08
RMB 6.14
RMB 6.35
4th Quarter 2014
4th Quarter 2015
0.15^
0.20^
0.06 - 0.1***
0.154*
0.139-0.160
0.139-0.160
**0.21'
**0.21'
0.111
0.125
0.13
0.13/0.138
0.173(peak)
0.082(normal)
0.162(peak)
0.072(normal)
0.111(peak)
0.055(normal)
0.097(peak)
0.048(normal)
RMB 6.14
0.17 oo
0.17 oo
MOP 7.98
4th Quarter 2015
4th Quarter 2014
0.17 oo
0.17 oo
MOP 7.99
0.12
0.1
HK$7.80
4th Quarter 2015
4th Quarter 2014
0.13
0.1
HK$7.80
4th Quarter 2014
1.29^^
1.43^^
0.32 - 0.69****
0.59*
0.288-1.037
0.175-1.288
**0.48-0.80'
**0.48-0.69'
0.713
0.807
0.38
0.46
0.57
0.48
0.55 to 0.78 o
0.55 to 0.78 o
0.83
0.83
1.49^^^
1.65^^^
0.7- 1.11****
1.52**
1.318-5.886
1.202-5.366
**1.47'
**1.47'
0.877
1.033
0.72
0.67
0.82
0.6
0.70 ooo
0.70 ooo
0.59
0.59
0.86^^^^
1.21^^^^
1.08
1.35
0.720
0.847
0.568
0.808
0.487
0.617
0.85
1.08
0.84
1.10
1.21
1.44
1.37
1.57
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
1.62^^^^^
1.76^^^^^
1.28
1.55
0.939
1.021
0.905
1.041
0.538
0.700
0.91/ 0.97 *
1.09/1.15 *
0.91-0.97
1.12-1.19
1.44
1.94
1.85
2.10
46
50
Note
HO CHI MINH
+
All rates are VAT inclusive
++
Domestic electricity rates are applied to the 301 KW above wards
+++ D.O- 0.05%
++++ 92&95 Unleaded petrol
KUALA LUMPUR
Unleaded petrol Ron 95
BANGKOK
*
Unleaded = Gasohol 95
**
For normal tariff with consumption not exceeding 150 kWh per month
BRUNEI
Electricity (Domestic) : Tariff effective from 1st Jan 2012. 1-10kwh 10c, 11-60kwh 8c, 61-100kwh 12c, above 100kwh 15c
BEIJING
8QOHDGHGJDVROLQH
GUANGZHOU

8QOHDGHGJDVROLQH
HONG KONG
SS
Electricity: (Dom): 0-400 kWh = US$0.10; 400-1,000kWh = US$0.12; 1,000 - 1,800kWh = US$0.14; 1,800 - 2,600kWh = US$0.18;
2,600 - 3,400 kWh = US$0.21; 3,400 - 4,200 kWh = US$0.22; Above 4,200 kWh = US$0.22
(Based on tariff scheme of CLP Holding Limited and is charged on bi-monthly consumption)
SS1 Water: (Dom): 0-12m3 = F.O.C; 12 - 43m3 = US$0.53; 43 - 62m3 = US$0.83/m3; Above 62m3 = US$1.16/m3
MACAU
o
Water: Consumption charge : US$0.55/m3 for 28m3 or below, US$0.62/m3 for 29m3 to 60m3, US$0.70/m3 for 61m3 to 79m3 and
US$0.78/m3 for 80m3 or above; Other charges (Depending on meter size 15mm - 200mm) : Meter rental = US$0.34 - 58.00/month
oo
Electricity tariff are composition of demand charges, consumption charges, fuel clause adjustment and government tax
ooo Charges for ordinary users (e.g. Business, government buildings, schools, associations, hospitals and others) only
Special users (e.g. gaming industries, hotels, saunas, golf courses, construction, public infrastructures and other temporary consumption) are excluded
1
51
47
Note (Continued)
SHANGHAI
Unleaded 93# = US$1.09/litre; Unleaded 97# = US$1.15/litre
CHONGQING
*
Unleaded 93# = US$1.09/litre; Unleaded 97# = US$1.15/litre
MANILA
**
Actual Biling: Include misc. charges such as Environmental Charge, Currency Exchange Rate adjustment (CERA), VAT, etc.
'
Electricity - (Dom) : 190 kWh - 860kWh; (Comm/Ind): 150,000kWh; Water - (Dom): 29m3 - 41m3; (Comm/Ind) 4,030m3
SEOUL
*
Plus electricity basic rates; domestic: US$5.368/month + US$0.08/Kwh (300KWh below in use) and commercial: US$4.687/month + US$0.066/Kwh
(300KWh below in use)
**
Plus water basic rates; domestic: US$ 0.939/month (within 30m3 usage) and commercial: US$77.39/month (within 100m3 usage)
***
Plus electricity basic rates; domestic: US$1.41/month + US$0.05/kwh ~ 0.165/kwh (300kwh below in use)
and commercial: US$6.31/month + US$0.06/kwh ~ 0.1/kwh (300kwh below in use)
**** Plus water basic rates; domestic: US$ 0.95/month (the usage of 15mm caliber) and commercial: US$78.35/month (the usage of 100mm caliber)
SINGAPORE
*
All rates are nett of GST
^
Electricity tariff is based on low tension power supply
^^
Domestic water rate includes water conservation tax & water-borne fee and is an average for the 1st 40m3, exclude sanitary appliance fee
^^^ Non-domestic water rate includes water conservation tax and water-borne fee, exclude sanitary appliance fee
^^^^ As at 5 November 2015
^^^^^ 98 Unleaded petrol as at 5 November 2015
GENERAL CONSTRUCTION DATA
Material Price Indices

Import Duties
Progress Payments
Estimating Rules of Thumb
50
2015
2014
2013
2012
2011
2010
2009
2008
Year
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
Quarter
100.00
129.63
154.51
107.14
97.68
98.13
105.54
109.11
111.18
103.48
114.55
120.00
134.20
131.52
142.19
142.19
142.19
142.19
145.71
145.71
145.71
135.45
135.45
129.20
129.20
129.20
129.20
129.20
128.13
128.13
126.79
126.79
0.00%
29.63%
19.20%
-30.66%
-8.83%
0.46%
7.55%
3.38%
1.90%
-6.93%
10.70%
4.75%
11.83%
-2.00%
8.11%
0.00%
0.00%
0.00%
2.48%
0.00%
0.00%
-7.05%
0.00%
-4.61%
0.00%
0.00%
0.00%
0.00%
-0.83%
0.00%
-1.05%
0.00%
Steelbar (D12-D15)
Index
(Base
Inflation
QI/2008)
11,200,000
14,518,000
17,305,000
12,000,000
10,940,000
10,990,000
11,820,000
12,220,000
12,452,500
11,590,000
12,830,000
13,440,000
15,030,000
14,730,000
15,925,000
15,925,000
15,925,000
15,925,000
16,320,000
16,320,000
16,320,000
15,170,000
15,170,000
14,470,000
14,470,000
14,470,000
14,470,000
14,470,000
14,350,000
14,350,000
14,200,000
14,200,000
VND/T
676,804
790,476
904,000
850,000
879,819
879,819
879,819
879,819
879,819
879,819
879,819
879,819
879,819
879,819
970,000
970,000
945,000
945,000
1,127,272
1,109,000
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
1,109,090
100.00
116.80
133.57
125.59
130.00
130.00
130.00
130.00
130.00
130.00
130.00
130.00
130.00
130.00
143.32
143.32
139.63
139.63
166.56
163.86
163.87
163.87
163.87
163.87
163.87
163.87
163.87
163.87
163.87
163.87
163.87
163.87
0.00%
16.80%
14.36%
-5.97%
3.51%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
10.25%
0.00%
-2.58%
0.00%
19.29%
-1.62%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Concrete (Grade 250)

Index
(Base
Inflation
QI/2008)
VND/m3
976
973
1,275
1,273
1,255
1,255
1,255
1,255
1,255
1,218
1,209
1,209
1,241
1,263
1,459
1,459
1,459
1,546
1,600
1,600
1,600
1,600
1,600
1,600
1,600
1,600
1,600
1,600
1,504
1,550
1,550
1,550
VND/kg
100.00
99.69
130.64
130.43
128.59
128.59
128.59
128.59
128.59
124.80
123.87
123.87
127.15
129.41
149.49
149.49
149.49
158.40
163.93
163.93
163.93
163.93
163.93
163.93
163.93
163.93
163.93
163.93
154.10
158.81
158.81
158.81
Cement (PCB40)
Index
(Base
QI/2008)
0.00%
-0.31%
31.04%
-0.16%
-1.41%
0.00%
0.00%
0.00%
0.00%
-2.95%
-0.74%
0.00%
2.65%
1.77%
15.52%
0.00%
0.00%
5.96%
3.49%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
-6.00%
3.06%
0.00%
0.00%
Inflation
2
MATERIAL PRICE INDICES
51
III
2008
II
IV
III
2009
II
IV
Steelbar (D12-D25)
III
2010
II
IV
III
2011
II
III
2012
II
Concrete (Grade 250)
IV
(Source: Ho Chi Minh City Departments of Construction and Departments of Finance Year 2008-2015)
180
170
160
150
140
130
120
110
100
90
80
IV
III
2013
II
IV
IV
III
2015
II
Cement (PCB40)
III
2014
II
IV

IMPORT DUTIES
MFN/WTO
ACFTA
Non-ACFTA
AKFTA
AANZFTA
AIFTA
VCFTA
AJCEP
VJEPA
VAT TARIFF
Marble
kg
12
(1)
(2)
10
10
17
14
16
10
Granite
kg
12
(3)
(2)
10
10
17
14
16
10
Carpentry of Wood
kg
10
Porland cement
kg
37
20
10
29
10
1000
unit
35
20
10
10 22.5
29
23
25
10
Ceramic roofing tiles
kg
45
20
10
30
46
28
31
10
Ceramic floor, hearth, wall

tiles
m2
45
(4)
10
30
48
28
31
10
Ceramic sanitary fixtures of

porcelain
kg
35
15
(5)
10
(4)
10
30
39
29
32
10
Multiple-walled insulating
units of glass
m2
25
10
20
30
30
10
Glass mirror (unframed)
kg
25
10
22
30
30
10
Concrete steel
kg
15
15
(6)
10
10
U,I or H section of steel

(height under 80mm)
kg
12
15
37
15
10
10
Alluminium doors, windows,

frames and thresholds
m2
15
12
13
10
Air conditioner (window or

wall mounted) not
exceeding 26,38 kW
unit
30
15
(7)
10
27
29
11
10
Passenger lifts
unit
10
(8)
(8)
4.5
10
Water pump
unit
20
10
27
21
17
19
10
Electric genset
unit
20
12
(1)
10
21
30
30
10
Ceramic building bricks,

flooring blocks
52
MFN/WTO
ATIGA
ACFTA
AKFTA
AANZFTA
AIFTA
VCFTA
AJCEP
VJEPA
Non-AKFTA
UNIT
ATIGA
SPECIAL TARIFF
DESCRIPTION
(ALL FIGURES)
*
*
: Most-Favored-Nation/World Trade Organisation

Normal Tax Rate = Favoured Tax Rate x 150%
: ASEAN Trade In Goods Agreement/ ASEAN Free Trade Area
: ASEAN-China Free Trade Agreement
: ASEAN-Korea Free Trade Agreement
: Australia-ASEAN-New Zealand Free Trade Agreement
: ASEAN-India Free Trade Agreement
: Vietnam-Chile Free Trade Agreement
: ASEAN-Japan Comprehensive Economic Partnership
: Vietnam-Japan Economic Partnership Agreement
(1)
: Cambodia, Thailand
: Thailand
: Cambodia, Indonesia, Thailand
(4)
: Myanmar
(5)
: Cambodia, Indonesia, Malaysia
(6)
: Cambodia, Lao, Malaysia, Thailand
(7)
: Brunei, Cambodia, Philippines, Thailand
(8)
: Malaysia, Thailand
(2)
(3)
(*) When the MFN duty rate of a goods item specified in the preferential import table
of rates is lower than the particularly preferential tax rate specified in Vietnam's
particularly preferential import table of rates applicable to each trade agreement
romulgated under the Finance Minister's decision, the import duty rate applicable
to this goods item is the MFN tax rate.
(*) Symbol in AKFTA column: Goods made in Khai Thanh Industrial Zone of North
Korea (GIC Items).
(*) Imported goods are not received special preferential tariffs at the corresponding time.
PROGRESS PAYMENTS
The following graph and table are an indication of the
rate of expenditure for construction projects.
The rate of expenditure is an average rate and will
circumstances are taken into account.
No account has been made for retention.
Progress Claims
100%
80%
60%
40%
20%
0%
0%
20%
40%
60%
80%
100%
Project Period
CONTRACT
CUMMULATIVE
PROGRESS
CLAIMS
CONTRACT
PERIOD
CUMMULATIVE
PROGRESS
CLAIMS
53

ESTIMATING RULES OF THUMB
Structural Design Concrete Ratios
The following is a range of concrete ratios for building
superstructure design in Viet Nam.
3/m2
2/m2
3
0.5 m3/m2
3.0 m2/m2
250 kg/m3
to
to
to
Average External Wall/Floor Ratio

2/m2
2/m2
2/m2
Average Internal Wall/Floor Ratio

2/m2
2/m2
2/m2
Air - Conditioning
2
The above ratios are indicative and for reference purposes

only. They do not account for buildings with special shapes,
Indicative Dimensions for Sports Grounds
54
Length
Width
Tennis Court
40 m
20 m
Volleyball Court
30 m
20 m
The above dimensions are for a single court with appropriate

clearance. No Spectator seating or support area has been
allowed.
Densities of Common Materials
Concrete
Cement
Sand
2,400 kg/m3
1,441 kg/m3
1,600 kg/m3
Water
3
3
3
3
1,000 kg/m3
Soil (compact)
2,100 kg/m3
Concrete Strength (in accordance with TCVN 3118 - 1993)
6,000
5,000
4,000
3,000
41
34
28
21
49
41
34
25
40
35
30
25
5,800
5,000
4,400
3,600
33
29
25
21
15
2,200
13
Reinforcement
Bar Dia.
(mm)
Weight/m
(kg/m)
Perimeter
(mm)
Area
(mm2)
0.395
25.13
50.26
20
2.466
62.83
314.16
32
40
6.313
9.864
100.53
125.66
804.25
1,256.64
0.45 m3
0.43 m3
0.38 m3
0.90 m3
0.86 m3
Composition of Concrete (per m3)

1:3:6
1:2:4
1:1:2
216 kg
308 kg
540 kg
Average Loads
Volume
Lorry (24 ton)

Concrete truck (24 ton)
10.0 m3
5.5 m3
3
Dimensions for Standard Parking Space,

Loading / Unloading Bays and Lay - bys
Light Vans
5m
2.5 m
2.4 m
Lorries
Container Vehicles
11 m
16 m
3.5 m
3.5 m
4.1 m
3.5 m
and the lower most projection from the ceiling including any
lighting units, ventilation ducts, conduits or similar.
55
PROPERTYINVESTMENT
PROPERTY
Building Control and Procedures

Project Closed Out Procedures
Typical Submission Flowchart
Key Planning Parameter
Procurement Strategies
Contractor Selection Strategies
Property Overview
PROPERTY INVESTMENT
BUILDING CONTROL AND PROCEDURES
Project Classification
Projects are categorized based on the scale, nature
and source of fund in accordance with Appendix 01 of
the Decree 59/2015/NDCP dated 18 June 2015.
Special projects under the jurisdiction of the Prime
Ministers Office encompass the most national important
project and or top security project. Projects classified
as Group A under the jurisdiction of the Ministers of
Ministries encompass infrastructure and ports
(sea-ports and airports), oil and gas, cultural and
sensitive projects to national defense and all projects
over VND 2,300 billion, or equivalent to approx. USD
100 million. Group B projects encompass all other
projects and fall under the jurisdiction of Provincial
Peoples Committees and require registration only for
investment licenses and applies to projects with a
manufacturing and export earnings component. A full
assessment for investment licenses is required for all
other projects.
Project Investment Appraisal

Developers must carry out the project investment report
(feasibility study report) and the basic design for project
investment appraisal including the Planning Certificate
applied to the Peoples Committee of the relevant
province. The information of basic design to be included
encompasses address and description of land plot,
function of land plot, red-line boundary and exit and
connection with the existing transportation and
infrastructure including power, water, storm water
drainage , waste water treatment, overall dimension and
existing level, construction boundary, construction
density, plot ratio, schedule of land use area and
schedule of floor area, maximum floor height and building
height, parking lot ratios, principle of architectural,
structure and infrastructure design, environmental impact
plan, fire protection plan, design standards and building
codes. The project investment appraisal is in accordance
with the Circulation 03/2009/TT-BXD dated 26 March 2009.
58
PROPERTY INVESTMENT
Technical Design and Detailed Design

Developers using foreign design consultancies must
ensure their projects undergo a Design Evaluation
Assessment to the Ministry of Construction or the
Chairman of the Peoples Committee of relevant
province who will delegate to the Ministry of
Construction or provincial Construction Department.
The Technical Design and Detailed Design must be in
line with the previous approved basic design including
the compliance of design standards and building
codes, the integrity of project, the well protection of
environment and the safety in the event of fire
circumstances. The appraisal and approval of
technical and detailed design are in accordance with
the Decree 15/2013/NDCP dated 6 February 2013
and Circulation 13/2013/TT-BXD dated 15 August
2013.
Construction Permit
Under the Law on Construction investors must first
obtain a construction permit issued by the Provincial
Peoples Committee Construction Department prior to
construction can commence.
The investor of residential development projects shall
submit an application dossier of all the mentioned
inclusion plus the certificate of EIA (Environment
Impact Assessment) and Fire Protection, which are
issued by the Provincial Department of National
Resources and Environment and Provincial Fire
Police Department respectively. An application
dossier shall contain design implementation drawings
and land-use right certificates and land rental
contracts. The basic inclusions are mandatory and
they are location and description of works, storey
height and height above sea-level, site boundary
demarcation, overall site plan, major cross sections,
main elevations, structural framing plans and
foundation designs, environmental and safety technical
PROPERTY INVESTMENT
59
PROPERTY INVESTMENT
BUILDING CONTROL AND PROCEDURES (contd)
details, principle of materials, schematic line diagrams
of
infrastructure
connection
of
power,
telecommunication, water supply, storm and waste
water drainage system, and quantities for key
components. Construction Permit applications will be
checked against various compliances in respect of
boundaries and interference with neighboring
properties and approved planning (site coverage, plot
ratio and car-parking). The issuing body should
provide timely notice to the investor of any
non-compliance for their remedy and resubmission to
allow the implementation stage to commence. The
content of application, procedures of construction
permit are in accordance with the Decree 64/2012/
NDCP dated 4 September 2012 and Circulation
10/2012/TT-BXD dated 20 December 2012.
Site Clearance
60
A plan for site clearance and/or resettlement shall be

submitted at the same time as the application for the
investment license and resettlement carried out prior
to site clearance taking place for construction. The
time limit for site clearance should comply with the
project implementation schedule. Resettlement is
based on the principle of providing similar or better
conditions and governmental regulations on
principles, methods and a price framework shall be
adopted by the Peoples Committee for determination
of compensation levels. This is a matter for great
uncertainty and foreign investors are advised to seek
vacant possession prior to transfer of land use right to
the joint venture.
Supervision of Construction
Independent Supervision of construction works by a
competent and registered firm is a mandatory
requirement. The supervisory role encompasses
quality control and compliance checking, schedule
control, quantification control, safety and environmental
PROPERTY INVESTMENT
hygiene control during construction. The safety and

environment control are conducted regularly and
continuously during the implementation phase. The
Supervisor is also responsible for arranging
independent inspections witnessing of testing and
commissioning data and assistance in compilation of
the dossier for putting the building into operation and
receipt of the Occupation Permit.
Commencement of Construction
Construction of works may only commence after
satisfying the following conditions: the site area being
ready to be handed over, either in whole or in section
and free of encumbrances; a construction permit;
approved design drawings for execution of building; a
construction contract; sufficient capital funds to
ensure the building schedule in accordance with the
approved building schedule in the investment license;
measures to ensure safety and minimum
environmental impact during the construction
process. Construction All Risks and Third Party
Liability Insurances as well as all required insurances
in accordance with conditions of contract are
recommended to be effected prior to commencement
of any physical construction works on Site.
PROPERTY INVESTMENT
61
PROPERTY INVESTMENT
PROJECT CLOSED OUT PROCEDURES
Before an investor can receive rental income and
occupy the premises for its intended use, the receipt
of approval must be received by the provincial
Construction Department or the Ministry of
Construction depending on the category and size of
the project.
The Construction Department will receive a dossier

complete with independent testing and commissioning
data (prepared by an independent party not the
original designer) for piling, structure, electricity and
earthing, environmental impact with regard to water
and waste disposal, final checking and approval of fire
protection requirement. The dossier needs to have
Minutes to put the Building into Operation signed by
the Investor, Testing Body, Contractor and Designer
including the Project or Construction Manager if
appointed. The project close out procedure is in
accordance with Decree 46/2015 NDCP dated 12
May 2015.
62
PROPERTY INVESTMENT
TYPICAL SUBMISSION FLOWCHART

PROGRESS OF IMPLEMENTATION FOR CONSTRUCTION
INVESTMENT PROCEDURES FOR REAL ESTATE PROJECTS LEVEL 1,
SPECIAL LEVEL GROUP A
The Employer
[upon completion of the Basic Design]
The Employer can simultaneously perform Step 1,1', 1'', 1'''
(1)
Request for written
comments on the fire
protection measures
(Fire Department
10 days)
(1)
Report on assessment
of environmental impact
(Provincial People's
Committee - 75 days)
Collect the approval on

the Basic Design
(Ministry of Construction
20 days)
Approval on
Fire Protection
(Fire Department
15 days)
Review on
Technical Design
(Ministry of Construction
40 days)
Construction Permit
(Department of
Construction 20 days)
(1)
Request for written approval
on height of the building
( (Department of Combat Department of Defense
- 15 days)
(1)
Agreement on technical
infrastructure connections includes:
(no required time by law so the
Employer shall make their own
arrangements)
Agreement on location of
water supply connection
(Water Supply Company)
Agreement on
Power Supply
(Electricity Company)
Agreement on Drainage
System connection
(Department of Transportation
/Management Company)
Agreement on
communications
infrastructure connection
(Department of
Information Center/
Management Company)
Note:
1. "Date" as above mentioned is considered as working days from the date of receipt
of sufficient and valid documents.
2. The Employer can implement procedures for collecting of the agreements on
technical infrastructure connections after receipt of approval on the basic design.
However, if after the basic design approved by the Ministry of Construction that the
technical infrastructure management agency does not agree with the Employers plan,
then the Employer must change the plan for technical infrastructure connections,
leading to change in the basic design and to request the Ministry of Construction to
approve again on the basis design dossier. Therefore, the Ministry of Construction
recommends that the Employer should have in advance the written agreement on the
provision of electricity, water and drainage connections, transportation system
connection for the project, infrastructure communication connection before submitting
documents to the Ministry of Construction for approval on the basic design.
PROPERTY INVESTMENT
63
PROPERTY INVESTMENT
KEY PLANNING PARAMETER
MAXIMUM SITE COVERAGE
Maximum site coverage of linked houses and villa houses
Land plot area
(m2/house)
coverage (%)
75
100 90
100 200 300 500

80
60
50
40
Maximum site coverage of condominium buildings

Building height Maximum site coverage (%) according
to land plot area
measured from
10,000
18,000
35,000
ground level (m)
m2
m2
m2
m2
19
65
63
60
60
58
55
22
52
53
51
48
28
50
48
45
31
48
46
43
34
46
44
41
44
42
39
40
43
41
38
43
42
40
46
41
39
36
>46
40
38
35
55
25
The maximum site coverage of urban public building such as

educational, healthcare, cultural buildings, sport centres and
market in the new urban development area is 40%.
64
PROPERTY INVESTMENT
lot must be complied with the current regulation.
Building height
measured from
ground level (m)
Maximum site coverage (%) according

to land plot area
3,000
10,000
18,000
m2
m2
m2
m2
80
68
65
60
19
80
65
63
22
80
62
60
25
80
58
56
53
28
80
55
53
50
31
80
53
51
48
34
80
51
49
46
80
49
40
80
48
43
80
46
80
46
>46
80
45
44
46
43
45
42
44
41
43
40
For those built on a land plot of area <3.000m2, the site coverage
with the current regulation.

MINIMUM LANDSCAPING RATIO FOR CONSTRUCTION
LAND LOTS
Type of building
Minimum of ratio for

landscape (%)
20
house, villa)
20
30
30
30
3. Factory
20
20
PROPERTY INVESTMENT
65
PROPERTY INVESTMENT
KEY PLANNING PARAMETER (contd)
MINIMUM OF CAR PARKING LOT
Type of building
Minimum car parking lot

4 bedrooms / 1 lot
standard upward
100m2
Super market, shopping

mall, conference centre,
exhibition, show room
and display center
100m2
1 apartment / 1.5 lot

condominium
MINIMUM OF PARKING SPACE
Type of vehicle
Minimum area of
parking space
Car parking space
25 m2
3 m2
0.9 m2
66
40 m2
30 m2
Truck parking space
For the hotel grade of below three-star, public administration office and public service buildings, the
numbers of parking lot must be at least 50% of the
parking lots specified in the table above.
ROAD FOR FIRE PROTECTION
Width of road > 3.5 (m)
Clearance height > 4.25 (m)
Area for making U-turn > 15x5 (m)
PROPERTY INVESTMENT
BUILDING AREAS DEFINITIONS
Gross External Area (GEA)
Includes:
Areas occupied by internal walls and partitions

Columns, piers, chimney breasts, stairwells, liftwells,
and the like
Atria with clear height above, measured at base
level only
Internal balconies
access
Lift rooms, plant rooms, fuel stores, tank rooms which
are housed in a covered structure of a permanent
nature, whether or not above main roof level
main building
Loading bays
Areas with a headroom of less than 1.5m
Conservatories
PROPERTY INVESTMENT
67
PROPERTY INVESTMENT
BUILDING AREAS DEFINITIONS (contd)
Excludes:
Canopies
property
Gross Internal Area (GIA)
Includes:
Areas occupied by internal walls and partitions
other internal projections, vertical ducts, and the like

level only
68
corridors, smoke lobbies, etc.)

access
Lift rooms, plant rooms, fuel stores, tank rooms
which are housed in a covered structure of a
permanent nature, whether or not above main
roof level
PROPERTY INVESTMENT
Service accommodation such as toilets, toilet

lobbies, bathrooms, showers, changing rooms,
cleaners rooms, and the like
Loading bays
Areas with a headroom of less than 1.5m
Conservatories
Excludes:
Canopies
like in residential property

Gross Floor Area (GFA)
the internal structural face of the enclosing walls.

Includes:
Areas occupied by partitions, columns, chimney
and the like
Lift, plant, tank rooms and the like above main roof
slab
PROPERTY INVESTMENT
69
PROPERTY INVESTMENT
BUILDING AREAS DEFINITIONS (contd)
Note:
Sloping surfaces such as staircases, galleries,
tiered terraces and the like should be measured
Excludes:
of the building which are not enclosed spaces
the like). These should each be shown separately
should be shown separately.
Net Internal Area (NIA)
Net Internal Area is the usable area within a building
measured to the internal face of the perimeter walls
Includes:
70

level only
Entrance halls
Notional lift lobbies
usable areas
Area occupied by ventilation/heating grills
Area occupied by skirting and perimeter trunking
demountable partitions, whether or not perma
nent, and the like, where the purpose of the divi
sion is partition of use, not support, provided the
area beyond is not used in common
PROPERTY INVESTMENT
Excludes:
Those parts of entrance halls, atria, landings and
balconies used in common
Toilets, toilet lobbies, bathrooms, cleaners rooms,
and the like
Lift rooms, plant rooms, tank rooms (other than
those of a trade processcnature), fuel stores, and
the like
Corridors and other circulation areas where used
in common with other occupiers or of a permanent
essential nature (e.g. fire corridors, smoke lobbies,
etc.)
Areas under the control of service or other external
authorities including meter cupboards and statutory
service supply points
Internal structural walls, walls enclosing excluded
areas, columns, piers, chimney breasts, other
projections, vertical ducts, and the like
The space occupied by permanent and continuous
and ducting in so far as the space it occupies is
rendered substantially unusable
Areas with headroom of less than 1.5m
Areas rendered substantially unusable by virtue
having a dimension between opposite faces of
less than 0.25m
Vehicle parking areas (the number and type of
spaces noted)
Building Footprint
but is generally understood to mean the area of the land

upon which the building sits (excluding all basements),
measured to the outside face of external walls.
PROPERTY INVESTMENT
71
PROPERTY INVESTMENT
PROCUREMENT STRATEGIES
Overview
The primary consideration in the choice of procurement
strategy is the need to obtain overall value for money
during the entire life of the facility and each method has
a different risk profile for the employer and contractor.
In Vietnam the following is currently prevalent.
- high extent
- low extent
- medium to
high extent
Design and Construct
- low extent
Prime Contracting
- low extent
Framework Agreements
- rising extent
Public Private Partnership (PPP) - new and
promoted extent
Traditional Lump Sum

Management Contracting
Construction Management
72
Most if not all projects in Vietnam are tendered in

competition and the process is covered by the Law of
Tendering promulgated in 2006 intended primarily for
state projects defined as over 30% total investment
capital by a state entity and for Vietnamese Private firms.
Foreign Investors do not need to follow the Law of
Tendering although it is advisable. The law recognizes
open tendering, limited tendering and competitive
tendering. For state projects tenders are normally sought
using a two-envelope system i.e. technical and financial
the former being opened first to check for compliances.
Most foreign entities short-list tendering contractors by
having a robust pre - qualification procedure for checking financial and technical competencies. Tenders are
usually open for 90 days.
The FIDIC suite of contracts is widely used for Vietnam
construction contracts with the 1999 Red Book being
now widely accepted. There are official translations of
some of the FIDIC forms and the Vietnam Consultant
Association (VECAS) is an official member of FIDIC.
Most Official Development Aid (ODA) projects in
Vietnam adopt FIDIC also.
PROPERTY INVESTMENT
a) Traditional Lump Sum

Most contracts are let in Vietnam on a lump sum basis
using a modified FIDIC Contract which in its
unamended form is a measure and value contract.
This method requires appointment of independent
design consultants by the employer and a sufficiently
developed design preferably frozen prior to tender.
Bills of Quantities are usually provided for information
only to the contractor who normally provide their own
quantities with their tender for comparison purposes
only and only the rates are contract rates with any
errors and omissions not being subject to remeasurement after the lump sum is finalized. Prime costs
sums for nominated subcontracts for mechanical and
electrical and lift sub-contracts are widely used.
b) Construction Management
This form of procurement is often portrayed as
fast-track as tender packages are often let successively throughout the design process with no need to
wait until detail design is complete. A construction
management consultant is engaged normally for a
fixed percentage fee to procure and manage the
individual trade contracts which are placed by the
employer. This necessitates effective cost management as the total construction budget is not finalized
until the final packages are let. The employer bears
not an insignificant risk in terms of price certainty,
delays, disruption, design and coordination problems.
Clients adopting this approach need to be conversant
with the local environment and have the requisite
in-house skills to deal with issues as they arise.
c) Framework Agreements
Framework agreements referred sometimes as
call-off contracts between investors with a pipe-line
of projects and contractors can result in significant
savings to both parties using any of the procurement
options above. The advantages are time reduced for
tendering and negotiations, improved processes and
knowledge transfer, bulk order costs savings, reduced
confrontation and economies of scale due to continuity of workflow. All these advantages are extremely
important in the Vietnam context because it is of
paramount importance to maintain healthy relationships between employers and contractors as unforeseen events are prevalent during the design and
procurement stages in Vietnam.
PROPERTY INVESTMENT
73
PROPERTY INVESTMENT
PROCUREMENT STRATEGIES (contd)
74
d) Public Private Partnership (PPP)

PPP is the generic term for the relationships formed
between the private sector and public bodies often with
the aim of introducing private sector resources and / or
expertise in order to help provide and deliver public
sector assets and services. The term PPP is used to
describe a wide variety of working arrangement from
loose, informal and strategic partnerships to design,
build, finance and operate type services contract and
formal points of joint venture companies. The PPP
mechanisms would help attract commercial capital and
other sources of capital that private investors will seek for
PPP projects. In that way, investment efficiency will be
improved while public debts controlled at safe levels.
Investors of projects will be chosen via competitive
bidding in order to maximize benefits and create equal
opportunities for domestic and foreign investors. On 9
November 2010 the Prime Minister of Vietnam
authorized the issue of detailed regulations covering the
piloting of investment in the form of Public Private
Partnerships (PPPs) in Vietnam. The PPP Regulations
became effective on 15 January 2011 and will continue
to be implemented over the next three to five years. The
Vietnamese Government intends to carry out PPP
programme according to a list of defined projects to
ensure that investors are provided with carefully
prepared projects with a view to creating a real PPP
commercial market in Vietnam. In the coming years the
government will carry out some pilot projects. The PPP
projects in the country will concentrate on core technical
infrastructure that requires much capital, and furthermore, mechanisms to mobilize private investment: (i)
Roads, Road bridges, road tunnels, ferry road stations;
(ii) Railway, railway bridges, railway tunnels; (iii) Airports,
sea ports and river ports; (iv) Clean water supply
systems; water drainage systems; liquid and solid waste
collection and treatment systems; (v) Power plants,
electricity transmission cables; (vi) Hospitals; (vii) Other
infrastructure projects.
The draft decrees of PPP has been official submitted
to Prime Minister since October 2014 and hopefully
been approved soon to create solid legal frame work
to increase the trends of contribution of private fund
into the infrastructure works especially the major
infrastructure works.
PROPERTY INVESTMENT
PROPERTY INVESTMENT
Damage
Desire to transfer complete risk
Single contractual link
Need for design team to report

to sponsor
Contractor input to economic

construction
Technically advanced or highly

complex building
Complexity
Facility to recover cost direct

from construction
Avoid prohibitive cost of change
Variations
Avoidance
Design prestige
Quality
Prime
Contracting
Appropriateness of Contract Strategy

Design
Construction
and
Management
Construct
Management
Contracting
Traditional
Early Completion
Timing
PPP
Cost
Objectives
Project Criteria
Parameter
Framework
Agreements
Table A - Procurement Strategy
75
76
Construction Management
Management Contracting
Framework Agreements
Traditional
Prime Contracting
Design and Construct
Public Private Partnerships
Contract Strategy
3
PROPERTY INVESTMENT
Table B - Risk Allocation
PROPERTY INVESTMENT
CONTRACTOR SELECTION STRATEGIES

There are four tiers of contractor available for tendering
Tier 1
Foreign contractor from Japan, Korea,

Singapore, Hong Kong, Europe, Australia
Tier 2
Tier 3
Tier 4
State contractors
There is a considerable diversity between these tiers
and have much lower human resource costs. This is

inevitably leading to higher tender returns. A rigorous
weighted scoring in line with project objectives eg.
lowest cost objective will have an inevitable impact
(indicative weighting for Vietnam 1

10 highest)
Vietnam experience (if foreign) 8
through 10,
Financial capacity (particularly local) 8

Direct labour strength (local and foreign) 6
PROPERTY INVESTMENT
77
PROPERTY INVESTMENT
CONTRACTOR SELECTION STRATEGIES (contd)
Cognizance of international procedures, codes and
Financial capacity (local)

Local contractors now have access to bank funding
interim payments. Deductions for defective works

so careful diplomacy is often more productive. Claims
for additional costs due to prevailing market conditions
are more common in todays climate but also for
misinterpretation of contract obligations making the
Plant and Equipment Inventory (local)
State firms tend to share or pool plant and equipment

for example tower-cranes and piling rigs. It is often
impossible to determine the true owner of plant and
equipment on-site in the event of premature demobilization.
size, capacity and suitable state of repair as contractors
78
PROPERTY INVESTMENT
Direct labour strength (local)
unskilled and untrained workers from remote provinces,

who often are not legally resident at their working
destination.
Contractors should be asked to prove their direct labour
arrangements. The tier 1 contractors will not have
2 contractors often import workers from their home
country for the project duration and shall be responsible
for all associated costs and taxes.
Labour is not usually permitted to reside on site.
Contractors shall provide details of training curriculums
for each trade discipline when tendering as well as
health and safety programmes.
Proposed sub-contracting arrangements (local)
to check the percentage of work subcontracted out
contractors largely act as management function

providing only project engineers, site supervisors,
and local contractors rarely directly employ foremen,
These arrangements are perfectly normal and accepted
but it is preferable to know in advance the exact
ar
interests with other projects and to understand fully the
amount of control the appointed contractor has on the
works he is engaged to undertake.
Planning and programming capability (local)
PROPERTY INVESTMENT
79
PROPERTY INVESTMENT
CONTRACTOR SELECTION STRATEGIES (contd)
resourced planning is rarely used. The approach
adopted is often rule of thumb whereby planners
determine critical activity durations using their
knowledge of other projects. Floor/structure cycle
times are often inconsistent and the lack of recording
and reutilization of historical data means the planning
process can be crude at best. Time or delay is a
perennial problem in Vietnam sometimes due to
employer delays such as site clearance or permit issues
or neutral delays such as weather but contractor
culpable delays should not be of any surprise. The use
of critical path analysis, planned impacted analysis,
window analysis and collapsed asbuilt are not widely
known in Vietnam. This means time recovery analysis
and the implementation of acceleration measures are
not readily adopted and time for completion can
become unpredictable. The input of experienced
delays and formulating time recovery plans.
International experience (local)
80
from the source country. It is essential to determine the

degree of exposure local contractors have had to
international standards, procedures and indeed
expectations. The Vietnamese Codes and Standards
whilst detailed need to be used concurrently with
international standards such as American, Australian,
international standard project. There is no uniform and
bespoke set of standards depending on the investor

and his consultant source country. The appointed design
team will naturally look to use their familiar off the
PROPERTY INVESTMENT
be asked to list the standards they have successfully

built for the key trades and building elements. There
is a move to produce a set of consolidated Vietnamese
standards but this is some way off and the hybrid
approach will continue for some time to come.
mandatory Vietnam building code or standard. Design
to obtain local approvals. The contractors should also

be asked to list investments such as system formwork
and their use of recent technology and list previous
employers and consultants whom they have worked
with.
PROPERTY INVESTMENT
81
PROPERTY INVESTMENT
PROPERTY OVERVIEW
Vietnam ended year 2015 with GDP growth rate of
6.68%, surpassed the consensus level of 6.2% set at
the beginning of the year. The structure of Vietnams
GDP is gradually shifting towards industrials,
construction and services while contributions from
agriculture, forestry and fishery are getting smaller.
Since 2012, Vietnam has experienced trade surplus
for the first time with impressive average annual export
growth of 22% with respect to the average annual
import growth of 16% during the period of 2010-2014.
Total FDI for 2015, both newly registered and capital

increased, was USD 22.76 billion (12.5% increase
y-o-y), in which manufacturing/production took the
lead with 66.9%, while real estate ranks third with
10.5% of the total FDI. In addition, the official
formation of ASEAN Economic Community on
January 1st, 2016 will most likely help further foreign
investment attractions and improve Vietnams
competitiveness in both global and regional markets.
82
Vietnams average CPI grew by 0.63% this year. This

was the lowest growth since 2001; significantly below
the annual average rate of 5%. Such low level of
inflation rate boosted the domestic consumption and
investment growth in 2015. Similarly, low mortgage rate
also supported activities in the real estate market.
Mortgage lending, accounted for 8% of total bank
lending, was considered quite healthy compared to the
19% rate in 2009. The amount of home loan is expected
to grow by 15-20 percentage points within 2016.
Although interest rate in Vietnam has slightly
increased after the Feds interest hike last December,
Vietnams interest rate will not expect any drastic
changes in 2016, since most of the effect has already
been factored into its current value. This is a good
news for real estate investors since investing in the
real estate industry has been proved to yield better
return than other types of investments such as USD
currency, gold, oil, or government bonds.
Last but not least, in December 2015, the State
Bank of Vietnam announced its plans to establish a
market-based mechanism that will adjust the Dong
PROPERTY INVESTMENT
currency accordingly to macroeconomics changes,

specifically the aggregate demand-supply model as
well as the eight influential foreign currencies in
Vietnam. Thus, one should keep a close eye on the
Dong in 2016.
RESIDENTIAL FOR SALE
2015 marked a firm recovery in the residential market
with strong launches, positive sales volume and
improved prices, particularly in mid- to high-end
properties. HCMC witnessed 41,907 units launched
from 78 projects, mostly in the East (47%) and the
South (27%), an increase of 122% y-o-y. This was the
highest number of launches in a single year, due to the
introduction of the largest-ever project in the city
Vinhomes Central Park in Binh Thanh District with
over 7,500 units launched to date, and the second
largest Masteri Thao Dien in District 2 with over
3,700 units.
In Hanoi, although Q4 recorded a lower number of
units launched compared to Q3, a total of 28,283 units
were launched during 2015, up 70% y-o-y. High-end
apartments accounted for 28% in the total new launch
units, compared to the peak 21% in 2011 for new
launches. By location, new supply from the West and
South West accounted for 46%, lower than the past
years when these areas used to account for over 50%
of the total new launch.
Overall, market sentiment remained encouragingly
positive throughout the year. 2015 ended with a record
high sales volume an estimated 36,160 sold units in
HCMC (up by 98% y-o-y), and 21,102 estimated sold
units in Hanoi (up by 90%). Taking advantage of the
markets strong sales momentum, developers across
all segments continuously increased their selling price,
even weekly in some cases. New projects under
construction observed sharper price increases than
previously completed projects, emphasizing that
buyers prefer new products although the move-in
dates are not until two or three years later. The HCMC
average primary price hovered at US$2,012 psm in
2015, with an uptick of 4.4% y-o-y and 2.5% q-o-q.
High-end properties reported the largest surge at 8.3%
PROPERTY INVESTMENT
83
PROPERTY INVESTMENT
PROPERTY OVERVIEW (contd)
y-o-y, averaging at US$2,025 psm, mostly contributed

by those located in the hot spots. In Hanoi, the overall
launching price at new projects increased from 3%-5%
y-o-y. On the secondary front, overall market recorded
an average increase in prices of 0.3% q-o-q and 1.1%
y-o-y. Resale price throughout the year had been quite
stable and did not see abrupt change as supply rises.
84
Despite high prices, projects were still quickly

absorbed. After seven years of stagnancy, the market
has finally gained full confidence to reintroduce
premium high-end and luxury developments.
However, developers should not forget the premium
affordable and mid-end sectors, where the real
demand lies. 2016 will be another promising year for
the Vietnam residential market with the new stimulus
package for mid-end purchasers from the Government
and the strengthening of familiar local rivals such as
Dat Xanh Group, Nam Long Group, Khang Dien
Group. As the market is developing towards a more
open and internationalised environment, while overall
pricing is still attractive as compared to other matured
markets, more foreign buyers will look into Vietnam
market as more guiding laws are issued to foster
investment activity. However, both homebuyers and
developers need to prepare for a market with
overwhelming number of supply at higher price and
evolving regulations, which might impact the
absorption and purchase pattern eventually.
RETAIL
The HCMC retail market welcomed three shopping
centres in the last quarter of 2015: Pearl Plaza in Binh
Thanh District, Vincom Megamall in District 2 and
Emart in Go Vap District, adding more than 105,000
sm of GFA to the total supply in HCMC. In Hanoi,
Vincom Nguyen Chi Thanh and Aeon mall Long Bien
finally launched their official opening, adding to the
market a total of 152,500 sm GFA (106,500 sm NLA).
F&B and mid-range fashion continued to be the attraction
points enticing consumers to go to shopping malls in
PROPERTY INVESTMENT
HCMC, especially in the non-CBD areas. Taking this

trend into consideration, McDonalds opened its first
store in District 2 at Vincom Megamall and Starbucks
expanded one more store at Emart in Go Vap District.
Most of the enquiries in this sector tended to be fast
casual, rather than fine ding. In Hanoi, all-in-one
malls such as Aeon Long Bien and Vincom Nguyen
Chi Thanh that include a variety of activities ranging
from shopping, entertainment to F&B continue to be
customers favorite. Another notable trend for this year
is affordability. The emergence of new bazaars
outlets, and low price supermarkets are all reinforcing
the trend that consumers demand better value for
money.
For HCMC, rental rate was quite stable and
experienced almost no change in Q4 2015, both in
CBD and non-CBD areas, and across all segments
including shopping centres, department stores,
bazaars and retail podiums. Full occupancy of the
three new shopping centres helped decrease the
market vacancy rate to 7.96%, compared to 9.82% in
Q3 2015. The average vacancy of Hanois retail
market also decreased from 15.2% in Q3 2015 to
10.7% in Q4 2015. In terms of rents, there was no
significant change in the CBD area, while the
non-CBD witnessed a slight increase of 3.7% q-o-q as
Vincom Nguyen Chi Thanh offered rentals that were
higher than the average market rate.
District 1 welcomed a new form of retail on Nguyen
Hue Street with the opening of Saigon Garden. Despite
limited land area, Saigon Garden offered customers,
mostly youngsters and foreigners, a brand-new
experience with lots of open and green areas inside
the buildings. Customers could find bars, shopping
stores, restaurants, exhibitions all under one roof,
which was quite interesting amid the busy, crowded
CBD atmosphere.
Looking forward to 2016, HCMC market is expecting
15 more stores from AuchanSuper, a French retailer.
This entrance can improve the presence of foreign
supermarket brands in HCMC, which is not quite
strong at the moment. As of 2015, Big C was the only
foreign retailer which was ranked among the top five retailers
PROPERTY INVESTMENT
85
PROPERTY INVESTMENT
PROPERTY OVERVIEW (contd)
in Vietnam, with the remaining being local players,
such as Saigon Co.op, Mobile World, Nguyen Kim
Trading, and Saigon Jewelry. As for Hanoi, new
shopping centers are becoming affordable and
starting to target middle-class consumers. Therefore,
rentals might not be as high as those in the past.
Vingroup will continue to be the leading player of the
retail market with several upcoming projects, yet all
outside of the CBD. Other projects developed by
foreign players, including Gamuda and Ciputra, may
offer rentals at market average rate or lower due to
their non-prime locations.
OFFICE
86
In Q4 2015, the opening of Pearl Plaza added 30,000

sm NLA to the HCMC Grade B office stock. Large floor
plate, high-quality office and flexible leasing terms are
the key strengths that led to high occupancy rate at
this development. 80% of this building was already
occupied by its opening date. The HCMC office market
also witnessed high improvement in Grade A
segments, with rents increased by 1.5% q-o-q thanks
to the limited supply and positive outlook of the
economy. Grade B rents did not climb up much since
owners decided to maintain their price in order to stay
competitive and attract tenants. Such trend was the
same in Hanoi. By the end of Q4 2015, average asking
rent of Grade A increased by 1.1% q-o-q, while that of
Grade B went down by 0.7%.There was no new supply
recorded, and thus market rates were able to stay
stable this year. By location, CBD and Midtown asking
rents went up by 0.4% and 1.5%, respectively.
Meanwhile, the rent in the West decreased by 1.0%.
Compared to the previous quarter, Grade A vacancy
rate decreased by 1.3%, as landlords at new
developments tried to fill up their buildings before the
year end. Such active leasing activities, coupled with
large floor plate offered from two main commercial
buildings Vincom Center and Vietcombank Tower,
resulted in a net absorption of 3,864 sm NLA for Grade
A. In addition, landlords across matured buildings
reserved their last space for tenants who are reputable
and can afford higher rents. For Grade B buildings, vacancy
PROPERTY INVESTMENT
rate dropped slightly due to good pre-launching

leasing activities at Pearl Plaza. As a consequence,
the net absorption of this segment was reported at
28,570 sm NLA. On the contrary, both Grade A and
Grade B buildings in Hanoi recorded great
improvements. Grade As occupancy rate increased
by 5.5 percentage points q-o-q, reaching 87.8%, and
Grade Bs surged up by 1.2 percentage points q-o-q to
89.1%. Midtown had the best performance towards
the end of 2015, with a 7.98 percentage point growth.
The CBD and the West clusters also witnessed
positive occupancy, with 3.5 and 4.5 percentage
points increases, respectively. Grade A office space
recorded a net absorption of 29,345 sm while Grade B
recorded 28,240 sm.
Based on CBREs enquiries, the top five most active
sectors in 2015 in Vietnam are IT/electronics,
manufacturing, finance/banking, consulting and
logistics. Most of renewal and expansion enquiries
came from tenants in the CBD area. Meanwhile,
relocation enquiries mainly derived from companies in
the non-CBD areas.
Regarding the future supply in HCMC, Saigon M&C
Tower plans to restart its construction and aims to
open within 2016. This tower is considered to have top
quality in the market with large floor plates, which
varies from 1,500 sm to 2,500 sm. The next wave of
high-quality office supply will be in 2017 with an
addition of 70,000 sm GFA.
Meanwhile, for 2016, Hanoi plans to welcome 16 office
building projects with approximately 500,000 sm GFA.
Notably, TNR Tower a Grade A building on Nguyen
Chi Thanh Street will enter the Midtown office cluster.
Another significant source of supply; comprised of one
Grade A and Grade B+ office will soon be in the West.
PROPERTY INVESTMENT
87
VIETNAM BUSINESS
ENVIRONMENT
Language
Accounting System
Banks
Government Administration
Taxation
Insurance
Workforce
VIETNAM BUSINESS ENVIRONMENT

LANGUAGE
borrowed from Chinese and the intonation is similar to

Cantonese. It is spoken by approximately 90% of the
Vietnamese population and ranked as the worlds 15th
most spoken language. English, however, is widely
used in the business community.
ACCOUNTING SYSTEM
Accounting records are required to be maintained in

VND. Foreign-invested business entities can select a
foreign currency to be used for their accounting
records and nancial statements provided that they
meet all requirements specied in Circular
244/2009/TT-BTC issued by the Ministry of Finance
(MoF). Accounting records are required in Vietnamese language, but this can be combined with a
commonly-used foreign language. At the end of a
nancial year, the entity must perform a physical
count of iWV[ed assets, cash and inventory.
90
Companies operating in Vietnam are required to

comply with the Vietnam Accounting System (VAS).
It is possible to diverge from the standard VAS, but
this is subject to speciF approval from the MoF. The
tax authorities treat VAS non compliance as a basis
for tax reassessment and imposition of penalties,
including withdrawal of CIT incentives, disallowance
of expense deductions for CIT purposes and
disallowance of input VAT credits/refunds.
The annual nancial statements of all foreign-invested business entities must be audited by an independent auditing company operating in Vietnam. Audited
annual nancial statements must be completed
within 90 days from the end of the nancial year.
These nancial statements should be led with the
applicable licensing body, MoF, local tax authority,
Department of Statistics, and other local authorities if
required by law.
BANKS
Banking industry of Vietnam is considered as young
in terms of integration to worldwide, until in 1990, it
was only restructured to separate the State Bank of
Vietnam from commercial banks. The State Bank of
Vietnam acts as a central bank and a supervisory
institution and is also a main share holder in
state-owned commercial banks (SOCB). Later,
more forms of commercial banks are established
especially after 2006 when Vietnam joined WTO.
With less than 5% of the population regularly using
banking service, and 10%-20% holding bank
accounts, it has provided good opportunities for
growth, however, competition in banking sector is
considered as very harsh. Besides Vietcombank,
Vietinbank, Agriculture Bank, BIDV as top of SOCB,
top joint stock banks can be named as ACB,
Sacombank, Techcombank, Indovina Bank as top of
joint venture bank. Nowadays, in the banking
sector, we can see a variety range of plenty
commercial banks including 4 biggest SOCB,
around 40 joint stock banks, and 40 foreign invested banks or branches of foreign banks, representative offices, 4 joint-venture banks in playground.
Although all the big names of foreign banks such as
Citibank, HSBC, Standard Chartered Bank, ANZ are
all presence in Vietnam, the banking system is still
characterized by the strong dominance of market
share by SOCB.
Official currency in Vietnam is VND, however, laws
allow local and foreign entities and individuals to
hold foreign currency at bank accounts as
deposit/savings and funds received/transferred from
foreign countries in freely. Nevertheless, domestic
payment, usage or cross border outward transfer of
foreign currency is prohibited or limited to certain
kinds of transactions and it requires supporting
documents.
91
BANKS (contd)
92
Banks can provide customers with all kinds of

services, however, it is more characterized by
commercial banking market rather than having a clear
division on investment banking and commercial
banking. Commercial banking services are such as
deposits, loans, trade finance, bank guarantees
Deposit can be made in both VND or foreign currencies and deposit is including current account, saving
accounts and fixed deposit from 1 month to 24
months. Interest rate for VND is always higher than
foreign currencies (currently average VND interest
rate is 5%-7%p.a. compared to USD interest rate at
0.75%p.a). Loan services comprises of short term
loan (under 1 year), medium term loan (from 1 to 5
years) and long term loan (over 5 years). Loans in
foreign currencies (popular USD) are restricted to
companies who have the proceeds in foreign currency. Getting loans in USD is also always cheaper than
loans in VND especially for those who having source
of fund from their export. Banks always offer a credit
line to their customers to finance all their need in short
term working capital or long time investment in
machineries or factories. Credit line may be used for
loan disbursement, trade finance or bank guarantee
service. Trade finance can be listed as L/C service
(sight or usance L/C), bills for collection D/P or D/A,
L/C negotiation, shipping guarantee, factoring. The
most popular trade finance service in Vietnam is L/C,
D/P and D/A, while factoring service is rarely used.
Bank guarantee services are comprised of many
types, some commonly used in the economy are such
as bid bond, performance bond, warranty guarantee,
payment guarantee or advance payment guarantee
Fee for issuance of bank guarantee is 2% p.a. of the
guarantee value plus a small amount charge on
documentation. Customers can request banks to
issue for them a bank guarantee by deposit fund to
bank or from a credit line offered by bank.
GOVERNMENT ADMINISTRATION
The National Assembly is the highest representative
organ of the people and the highest organ of the state
elections. Sittings of the National Assembly are held

twice a year and have full constitutional and legislative
powers. The standing committee of the National Assembly
is responsible for enforcement of laws. Its functions
by the National Assembly from among its members to
from the representatives. The National Defense and

Security Council has the duty to mobilize all forces and
Assembly and shall report to the National Assembly,

the National Assembly standing committees and the
Assembly and has the term of 5 years. The Deputy
take on the State management of allotted branches
criminal court, civilian court, the court of appeal and

the assistant apparatus.
93

TAXATION
TAXATION IN THE REAL ESTATE INDUSTRY
I. Corporate Income Tax (CIT)
Organizations established in Vietnam deriving income
from transferring or leasing property are subject to
Corporate Income Tax (CIT) at the standard tax rate of
20% from 1 January 2016.
A CIT rate of 10% shall be applicable to income from
selling, leasing and financial leasing of social housing.
Aside from this, real estate developers generally are not
given preferential tax rates, tax holidays or other tax
reductions except for special cases such as projects
located in poor social-economic regions or projects for
construction of residential houses for the poor or workers.
For advanced payment for properties under

development, real estate developers are required to pay
provisional CIT, either at 20% on provisional income if
the corresponding expenses can be determined and
matched with the revenue or 1% on advanced payments
if not. However, no revenue recognition is allowed for the
advance payment.
94
Where the enterprise sub-leases out a property, if the

lessee pays a lump sum for a number of years and
certain conditions are met then the lessor is able to
recognise revenue by one of two methods: (i) on
allocated on a year-by-year basis or (ii) a lump-sum
basis.
Losses incurred in a given year can be consecutively
carried forward for 5 years. With effect from 1 January
2014, losses from real estate transfer activities can be
offset against the taxable income of other business
activities of the relevant tax year. However, the gain
from transfer of real estate is still required to be
recorded and taxed separately without offsetting with
loss from other activities.
Land use rights (LURs) with indefinite terms may not
be depreciated for tax purposes. However, LURs with a
definite term used for production or business activities,
can be amortized over the prescribed land use duration.
Any gains from the revaluation of a LUR for capital

contribution purposes shall be determined as follows:
(i) For capital contribution for residential housing for sale:
the whole gain is recognized as other income at once in
the current tax period.
(ii) For capital contribution for production or business
activities, if the company receiving LUR is allowed to
depreciate such LUR, the whole gain is recognized as
other income at once in the current tax period.
Otherwise, the gains may be allocated to other income
over the period up to ten years.
II. Value Added Tax (VAT)
The transfer of a LUR without any related infrastructure
is not subject to VAT. Conversely, the transfer of LUR
with an infrastructure and building component is
generally subject to VAT at 10%. However, the land
value can be excluded from the revenue subject to VAT.
The determination of deductible land price for VAT
purpose varies depending on how the land was acquired
for the project.
Input VAT incurred for construction costs can generally
be claimed as an input VAT credit. Output VAT will also
be applied to the payment collection on schedule and
the deductible land value for VAT purpose is also
allocated accordingly.
The VAT rate of 5% applicable to contracts of
selling/leasing/financial leasing for social housing, which
satisfy the stipulated conditions.
III. Stamp Duty
Stamp duty is payable at the transfer of title of real estate
property by the buyer. Some specific transfers may be
exempted from the stamp duty. Stamp duty is imposed
at 0.5% on the value of the property up to VND 500
million (approx. USD 25,000) per asset per transaction.
IV. Foreign Contractor Tax (FCT)
Foreign companies with or without its permanent
95

TAXATION (contd)
establishment (PE) in Vietnam carrying out its
business activities in Vietnam, and/or deriving income in
Vietnam under a contract or agreement signed with a
Vietnamese organisation or individual, would be referred
to as a foreign contractor (FC), and subject to
Vietnamese FCT.
VAT and CIT are the two components of the FCT. There
are three tax filing and payment options: (i) Full
registration method with maintenance of books and
accounts in Vietnam under Vietnam Accounting System;
(ii) Deemed Withholding method and (iii) the Hybrid
method, which consists of paying VAT on the
conventional deduction method like a Vietnamese
company but paying CIT on a Deemed Withholding
method basis.
The Deemed Withholding method is the most common

one in practice by which the contracting Vietnamese
party is responsible for registering, withholding, filing and
paying the FCT due from each payment made to the FC.
The applicable rates vary depending on the nature of
goods and services provided. For projects having a
substantial portion of local purchases, the Hybrid
method is often applied so that the FCs can claim credit
on the input VAT incurred on local purchases but can still
pay the CIT on a deemed basis.
96
V. Personal Income Tax (PIT)

Generally, real estate (other than a property used as a
sole residential property and some other specific exempt
transactions) transferred by an individual is subject to
PIT. Property transactions subject to PIT include the
transfer of the right to buy, and the transfer of the right
to lease.
PIT exemption for transfer of sole residential property is
not applicable for (i) transfer within 182 days from the
date of having the right of ownership/LUR; and (ii)
transfer
of
house/apartment/construction
work
completed in the future.
Typically, a Vietnam tax resident has to pay PIT for the
property transactions at 2% on the transfer price.
No PIT declaration and payment are required in case

individuals/households having property for lease earning
annual rental of VND 100 million or less (approx. USD
4,800 per year).
VI. Non-agricultural land-use tax
Non-agricultural land-use tax (NALUT) is generally
applicable to the following types of land: Non-agricultural
land used for residential, production or business
purposes.
The calculation of the tax liability is generally based on
the land area, price of land (normally set by the
provincial-level People Committee and remains
unchanged within 5 years from 1 January 2012) and tax
rate. For residential land holding a multi-floor building or
non-agricultural land holding a production or business
establishment, the applicable tax rate is 0.03%.
Organisations granted with LUR and existing land users
are required to submit NALUT declaration on a yearly
basis at the tax office of the relevant district no later than
30 January of the following year. However, no further
declaration in subsequent years is required if there is no
change in tax payer or tax liability. If there is any change,
the tax payer is required to submit an amended
declaration within 30 days following the date on which
the change takes effect.
The tax payer may opt to pay the NALUT on one-off
basis a year no later than 31 May each year or twice a
year no later than 31 May and 31 October each year. If
the tax payer requests to pay the NALUT on one-off
basis for many years within a 5-year period, the payment
of tax may not be later than 31 December of the year in
which the request is made.
NALUT exemption and reduction can be granted to
certain types of land including land related to investment
projects in the sectors eligible for special investment
incentives, investment projects in geographical areas
with qualifying socio-economic difficulties and other
specific cases.
97

INSURANCE
Overview
Most risks that a company would insure anywhere else

in the world can be adequately insured for in Vietnam.
Rates and terms are generally a function of the world
market with due consideration given to local factors
however it should be noted that VAT of 10% applies to
insurance premiums on policies written within
Vietnam. While the overall ability to insure large or
complicated risks entirely within Vietnam is limited, the
Vietnamese insurance industry can nonetheless
insure any size risk through reinsurance arrangements
with international reinsurance organizations. The
leading reinsurers and those who carry more than
10% have to be rated at least BBB by Standards &
Poors or B++ by AM Best or Baa by Moody's or
equivalent.
98
Vietnam passed a comprehensive Insurance Law in

December 2000 which took effect on April 1, 2001.
The Amendment of Insurance Law has been passed
and was effective as at July 1, 2011. The key changes
are focused at keeping up with any WTO
commitments such as: the insurance market is
professional & open, foreign insurers are allowed to
establish a branch in Vietnam or issue an insurance
policy into Vietnam. However, the law gives the power
to the government to release detailed guidance and to
license such transactions. The Decree No.
123/2011/ND-CP was issued on 28 Dec 2011 to
provide guidance on the implementation of the
Amended Insurance Law. In addition, the government
issued Circular No. 124/2012/TT-BTC and Circular
No. 125/2012/TT-BTC on 30 Jul 2012 with effective
from 01 Oct 2012 to guide on the operation and
finance of the insurance market. The Decree No.
98/2013/ND-CP effective from 15 Oct 2013 providing
guidance on penalties for administration offences in
Insurance Business.
Construction All Risks (CAR) insurance, including the
covers for the Contract Work & Third Party Liability, is
popular in Vietnam. Recently, owners of larger
projects have shown interest in considering more
technical coverages such as Advance Loss of Profit
(ALoP) / Delay in Start-Up (DSU) to protect their

anticipated profit/fixed costs and Completed
Operation/Product Liability insurance for liability of a
particular project.
Since the real estate market was in hibernation stage
over the past years, construction insurance program
did not develop significantly. At the moment, due to
positive enactment of new law and regulation from the
government including Property Law (Amendment) and
Real Estate Commercial Law (Amendment) which
shall have effect from July 1st, 2015. In addition,
mortgage loan for construction and real estates will be
also easy access as instructions of National Banks,
the real estate market has recovered positively and we
are expecting promising developments in construction
insurance also.
In another side, construction insurance premiums tend
to decline in recent years. This comes from fierce
competition between insurance companies and
tightening insurance costs of investors and
contractors. The international insurance companies
are hardly capable to compete on cost with the local
insurance companies. However, the international
insurance companies still have certain advantages in
projects requiring in-depth underwriting skills and the
ability to arrange with international re-insurers.
Construction insurance still tends to be left to the
contractor to arrange rather than the owner which can
give rise to gaps in cover when projects are delayed or
split into smaller packages. There may also be gaps
when the project passes from construction to
operation.
Compulsory Insurances in Vietnam
Compulsory insurances are regulated in insurance
laws & some specialized laws. Below is the
consolidation:
Fire and Explosion - (Article 8 of Law on Insurance
Business)
Motor Vehicle/Aviation carriers to passengers VIETNAM BUSINESS ENVIRONMENT
99

INSURANCE (contd)
(Article 8 of Law on Insurance Business, Decree
103/2006/ND-CP/ Article 163 of Civil Aviation Law)
Civil Liability Insurance of those who deal in the
transport of passengers or cargo in inland
waterways - (Article 6 &7 of Decree 125/2005/ND-CP
and Article 58 & 126 of Marine Law)
Professional Indemnity insurance for:
100
Insurance brokers - (Article 8 of Law on

Insurance Business)
Lawyers - (Article 8 of Law on Insurance
Business & Article 40 of Law on Lawyer)
Contractor to perform survey for construction
works - (Article 51 of Law on Construction)
Contractor to design for construction works (Article 58 of Law on Construction)
Contractor to supervise for execution of building
works - (Article 90 of Law on Construction)
Securities companies - (Article 71 of Law on
Securities)
Fund management companies - (Article 72 of
Law on Securities)
Auditing Companies - (Decree 105/2004/ND-CP
on independent auditor)
Enterprises on price assessment - Article 11 of
Decree 111/2005/ND-CP on Price assessment)
Medical examination and treatment
Insurance for Construction works:
Applicable to investors/developers - (Article 75 of
Law on Construction)
Applicable to contractors - (Article 76 of Law on
Construction)
Applicable to parties who call construction tender
- (Article 104 of Law on Construction)
Professional insurance, civil liability insurance
and environmental damage compensation
liability insurance applicable to organizations and
individuals performing radiation jobs
Civil Liability Insurance and Environmental
Damage Compensation Liability Insurance applicable
to Organizations and Individuals performing

Radiation Jobs
Travel Insurance for Vietnamese traveling overseas
Technically there is no requirement for worker
compensation insurance. However since there is a
liability regarding employees under the Vietnamese
labour law the purchase of worker compensation
insurance can act as a risk transfer method to protect
against these liabilities.
Market Players
Insurers
There are numerous domestic and foreign companies
licensed to provide non-life insurance, including
insurance for construction sectors in Vietnam.
State-owned:
Vietnam Insurance Corp (Bao Viet), Bao Minh
Insurance Corp (Bao Minh)
Group-controlled:
PetroVietnam Insurance Corporation (PVI), PG
Insurance (PJICO), Post & Telecommunication
Insurance JSC (PTI), Global Insurance Co. (GIC),
Vietnam Aviation Insurance JSC (VNI), SHB
Vinacomin Insurance JSC (SVIC)
Bank-based:
Vietinbank Insurance Co. (VietInsco), BIDV Insurance
Co. (BIC), Agriculture Bank Insurance JSC (ABIC),
Military Bank Insurance Company (MIC)
Joint Stock:
Bao Long Insurance Corporation (Bao Long), Vien
Dong Assurance Corp (VASS), AAA Assurance JSC
(AAA), Phu Hung Assurance (PAC), Hung Vuong
Insurance Corp (BHV), Great Mountant Insurance
JSC (GMIC)
Foreign:
Groupama, QBE, AIG, ACE, Liberty, Fubon, MSIG,
Cathay, SGI Hanoi
101

INSURANCE (contd)
Joint Venture:
Bao Viet Tokyo Marine (JV between Baoviet and Tokio
Marine), United Insurance Co. (UIC the JV among
Bao Minh, Sompo & LG), Samsung Vina Insurance
(JV between Samsung and VinaRe)
Reinsurer:
Vietnam National Insurance Corp (VinaRe).
PVI Reinsurance Joint Stock Corporation (PVIRe)
Brokers
As insurance is best arranged through a licensed
insurance broker who can help companies to assess
the underlying risks and then arrange appropriate
insurance on their behalf, there are a number of
licensed insurance brokers.
International:
Jardine Lloyd Thompson (JLT), Aon, Marsh, Grass
Savoye Willis, Toyota Tsusho
Local:
Viet Quoc, A Dong, Thai Binh Duong, Sao Viet,
CIMEICO, Nam A
102
Vietnam Insurance Market Overview

30 Non-life Insurers
Joint-stock
(17)
Joint-venture
(2)
Bao Viet
Bao Minh
Bao Long
PVI
PJICO
PTI
VASS
AAA
GIC
ABIC
MIC
VNI
HVI
BSH
Vietinsco
Xuan Thanh
BIC
UIC
Baoviet Tokyo
Marine
Foreign-owned
(11)
AIG
QBE
Groupama
ACE
Liberty
MSIG
Fubon
PAC
Cathay
Samsung
SGI Hanoi
(Source: Vietnam Insurance Associate Quarter 1 of 2015)
103

WORKFORCE
The estimated population of Vietnam in 2016 will be
circa 92.2 million (as the General Office for Population
Family Planning).
3XUVXDQW WR WKH 'HFUHH 1R 1&3 RI WKH
Government dated 14th November 2015 with effect
from 1st Jan 2016, the region-based minimum wage
for employees working for companies, cooperatives,
cooperative groups, farms, households, individuals
and organizations hiring employees under labor
contracts as follows:
VND 3,500,000/month
operating in region I.
VND 3,100,000/month
operating in region II.
VND 2,700,000/month
operating in region III.
VND 2,400,000/month
operating in region IV.
shall be applied to enterprises

In accordance with the Law No. 58/2014/QH13 on

Social Insurance (Law). Below are some remarkable
changes of the Law on Social Insurance:
104
Firstly, since January 1, 2016, for employees who pay

social insurance premiums according to the employer-decided salary regime, their monthly salary on
which social insurance premiums are based is their
salary plus salary-based allowance as prescribed in
the labor law.
Secondly, for Social and Health Insurance, the
contribution is capped at 20 times of the common
minimum salary but for Unemployment Insurance, the
contribution is capped at 20 times of the minimum
regional salary (note that the regional minimum salary
is way higher than the common minimum salary as
the basis for previous cap).
Thirdly, regarding the sickness regime, the method to
define the sickness allowance is changed. In detail,
the per-diem sickness allowance must equal the
monthly sickness allowance divided by 24 (working)
days instead of 26 as before.
Fourthly, on the side of maternity regime, the new Law

provides on some majority changes: (i) Male employees currently paying social insurance premiums
whose wives give birth to children are entitled to a
maternity leave; (ii) the method to define the per-diem
maternity allowance in cases of check-ups, miscarriage, abortion, taking intrauterine devices, taking
sterilization measures is equal to the monthly
sickness allowance divided by 24 (working) days
instead of 26 as before; (iii) The per-diem allowance
for convalescence and health rehabilitation after
sickness must equal 30% of the basic salary.
105
OTHER INFORMATION
Vietnam Map
Domestic Routes
Relevant Websites
Public Holidays
Prime Rates
IDD Codes and Time Differences
Conversion Factors
Some Interesting Facts
Vietnam Key Data
Arcadis Asia Leadership Team
Arcadis Asia Sectors
Arcadis Asia Services
Directory of offices
Acknowledgement
OTHER INFORMATION
VIETNAM MAP
108
(Source: Wikimedia)
OTHER INFORMATION
DOMESTIC ROUTES
DISTANCE
FLIGHT TIME
MILES/KMS OUTBOUND RETURN

HA NOI TO
Da Lat
662/1065
1:40
1:40
Da Lat
133/214
0:50
0:50
Vinh
549/883
1:45
1:45
HO CHI MINH CITY TO
DA NANG TO
(Source: VietnamAirlines)
OTHER INFORMATION
109
OTHER INFORMATION
RELEVANT WEBSITES
Government Office
Ministry of Public Security
Ministry of Home Affairs
Ministry of Justice
Ministry of Planning and Investment
Ministry of Finance
Ministry of Industry and Trade
Ministry of Agriculture and Rural Development
Ministry of Transport
Ministry of Construction
Ministry of Natural Resources and Environment
Ministry of Information and Communication
Ministry of Labor, War Invalid and Social Affairs
Ministry of Culture, Sports and Tourism
Ministry of Science and Technology
Ministry of Health Portal
110
Ministry of Education and Training

Ministry of Foreign Affairs
The State Bank of Vietnam
General Statistics Office of Vietnam
Directorate for Standards, Metrology and Quality
Vietnam National Administration of Tourism
Vietnam Customs
Vietnam Register
OTHER INFORMATION
http://www.chinhphu.vn
http://www.mps.gov.vn
http://www.moha.gov.vn
http://www.moj.gov.vn
http://www.mpi.gov.vn
http://www.mof.gov.vn
http://www.moit.gov.vn
http://www.mard.gov.vn
http://www.mt.gov.vn
http://www.moc.gov.vn
http://www.monre.gov.vn
http://mic.gov.vn
http://www.molisa.gov.vn
http://www.cinet.gov.vn
http://www.most.gov.vn
http://www.moh.gov.vn
http://www.moet.gov.vn
http://www.mofa.gov.vn
http://www.sbv.gov.vn
http://www.gso.gov.vn
http://www.tcvn.gov.vn
http://www.vietnamtourism.com
http://www.customs.gov.vn
http://www.vr.org.vn
OTHER INFORMATION
111
OTHER INFORMATION
PUBLIC HOLIDAYS
2016
VIETNAM
Normal Scheduled Holidays
Solar New Year

Lunar New Year
Liberation Day of Saigon
International Labour Day
National Day
Hung Vuong King Celeration
1 Jan
8,9,10,11,12
Feb
30 Apr
1 May
2, 3 May #
2 Sep
16 Apr
18 Apr ##
# Subtitude for 30 Apr & 1 May (Sat & Sun)

## Subtitude for 16 Apr (Sat)
CHINA
New Year's Day

Chinese New Year's Eve
Chinese New Year $
112
Tomb-sweeping Day
Labour Day^
Dragon-boat Festival
Mid Autumn Festival @
National Day#
01 Jan
07 Feb
08 Feb
09 Feb
10 Feb
04 Apr
01 May
09 Jun
15 Sep
01 Oct
02 Oct
03 Oct
$ 11 - 13 February 2016 are holidays. 6 and 14 February 2016

are working days.
^ 2 May 2016 are holidays. 4 May 2016 is working day.
*10 - 11 Jun 2016 are holidays. 12 June 2016 is working day.
@ 16 - 17 September 2016 are holidays. 18 September 2016
is working day.
# 4 - 7 October 2016 are holidays. 8 - 9 October 2016
are working days.
OTHER INFORMATION
2016
HONGKONG
The first day of January

Lunar New Year's Day
The 2nd day of Lunar New Year
The 3rd day of Lunar New Year
Good Friday
The day following Good Friday
The day following Ching Ming
Festival
Easter Monday
Ching Ming Festival
Labour Day
The day following Labour Day
Buddha's Birthday
Tuen Ng Festival
HKSAR Establishment Day
The day following Chinese
Mid-Autumn Festival
National Day
Chung Yeung Festival
The day following Chung Yung
Festival
Christmas Day
The 1st week-day after
Christmas Day
The 2nd week-day after
Christmas Day
01 Jan
08 Feb
09 Feb
10 Feb
25 Mar
26 Mar
28 Mar
4 Apr
02 May*
14 May
09 Jun
01 Jul
16 Sep
01 Oct
10 Oct*
26 Dec
27 Dec*
As both the Labour Day and the Chung Yeung Festival in 2016 fall
on a Sunday, the day following them is designated as a general
holiday in substitution; and as Christmas Day in 2016 falls on a
Sunday, the second weekday after Christmas Day is designated as
a general holiday in substitution.
OTHER INFORMATION
113
OTHER INFORMATION
PUBLIC HOLIDAYS (contd)
2016
MACAU
114
New Year's Day

Lunar New Year's Eve (Afternoon)
The 4th day of Lunar New Year
Good Friday
The day before Easter
Ching Ming Festival
The first working day after
the Day before Easter
The second working day after
Ching Ming Festival
Labour Day
The first working day after Labor Day
The Buddha's Birthday
The first working day after Buddha's Birthday
Tung Ng Festival (Dragon Boat Festival)
Tung Ng Festival
Bank's Holiday
The day following Mid-Autumn
Festival
National Day
The day following National Day
The first working day after National Day
The second working day after National Day
All Soul's Day
Feast of the Immaculate Conception
Macau SAR Establishment Day
The first working day after Macau
SAR Establishment Day
Winter Solstice
Christmas Eve
Christmas Day
The first working day after Christmas Day
The Second working day after Christmas Day
New Year's Eve (Afternoon)
01 Jan#*
08 Feb*#
09 Feb*#
10 Feb*#
25 Mar#
26 Mar
04 Apr*#
28 Mar@#
01 May*
02 May@#
14 May
16 May@
09 Jun#
01 Jul#
16 Sep*#
01 Oct*
02 Oct
03 Oct@#
04 Oct@
09 Oct*
10 Oct@#
02 Nov#
08 Dec#
20 Dec*#
21 Dec
24 Dec
25 Dec
26 Dec@#
27 Dec@#
-
# Bank's Holiday
* Obligatory Holiday
@ Special Holiday Granted by Chief Executive for staff in Public
Administration
OTHER INFORMATION
2016
BRUNEI
New Year's Day
Chinese New Year
National Day
Israk Miraj
Royal Brunei Armed
Forces Anniversary
First Day of Ramadhan *
Anniversary of the
Revelation of the Holy Koran *
Hari Raya Aidilfitri *
HM The Sultan's Birthday**
Hari Raya Aidil Adha*/**
Islamic New Year*/**
Christmas Day
01-Jan
08-Feb
23-Feb
06-May
31-May
06-Jun
22-Jun
07-Jul
09-Jul
11-Jul
15-Jul
11-Sep
02-Oct
25-Dec
* Subject to Change
** Replacement for Fridays / Sundays
Fridays and Sundays are government off days
SINGAPORE
New Year's Day
Chinese New Year
Good Friday
Labour Day
Vesak Day
Hari Raya Puasa
National Day
Hari Raya Haji
Deepavali
Christmas Day
01-Jan
08-Feb
09-Feb
25-Mar
1-May #
21-May
06-Jul
09-Aug
12-Sep
29-Oct
25-Dec #
# The following Monday will be a public holiday.
OTHER INFORMATION
115
OTHER INFORMATION
2016
PHILIPPINES
A. Regular Holidays
New Year's Day
Maundy Thursday
Good Friday
Araw ng Kagitingan
Labour Day
Independence Day
End of Eid-ul-Fitre
National Heroes' Day
Eid-ul Adha
Bonifacio Day
Christmas Day
Rizal Day
01 Jan
24 Mar
25 Mar
09 Apr
01 May
12 Jun
08 Jul
29 Aug
13 Sep
30 Nov
25 Dec
30 Dec
B. Special Holidays
(Non-Working Holidays)
116
Chinese New Year

Black Saturday (Additional)
Ninoy Aquino Day
All Saint's Day
All Souls Day (Additional)
Christmas Eve (Additional)
Last Day of the Year (Additional)
08 Feb
26 Mar
21 Aug
01 Nov
02 Nov
24 Dec
31 Dec
OTHER INFORMATION
2016
MALAYSIA
New Year's Day **
Chinese New Year
Labour Day
Wesak Day
King/Agong's Birthday
Hari Raya Aidilfitri*
National Day
Hari Raya Qurban*
Malaysia Day
Awal Muharam (Maal Hijrah)
Deepavali*
Prophet Muhammad's Birthday
Christmas Day
01-Jan
08-Feb
09-Feb
01-May
21-May
04-Jun
06-Jul
07-Jul
31-Aug
12-Sep
16-Sep
02-Oct#
29-Oct
12-Dec
25-Dec#
* Subject to change
** Except Johor, Kelantan, Kedah, Perlis & Terengganu
# The following Monday will be an additional public holiday
INDONESIA
New Year's Day
Chinese new Year (Imlek)
Hindu Day of Quiet (Nyepi)
Good Friday
International Labour Day
Ascension Day of Jesus Christ
Ascension of Prophet Mohammad
Waicak Day
Idul Fitri*
National Independence Day
Idul Adha Day
Hijriyah New Year
Prophet Muhammad's Birthday
Christmas Day
01-Jan
08-Feb
09-Mar
25-Mar
01-May
05-May
06-May
22-May
06-Jul
07-Jul
17-Aug
12-Sep
02-Oct
12-Dec
25-Dec
* Subject to changes
OTHER INFORMATION
117
OTHER INFORMATION
2016
THAILAND
New Year's Day
Chinese New Year*
Makha Bucha Day
Chakri Memorial Day
Songkran Festival
National Labour Day

Coronation Day
Royal Ploughing Ceremony Day+
Visakha Bucha Day
Mid Year Bank Holiday#
Asarnha Bucha Day
Khao Phansa Day (Buddhist Lent Day)+
H.M. The Queen's Birthday
Chulalongkorn Day
H.M. The King's Birthday
Constitution Day
New Year's Eve
118
1 Jan
8 Feb
22 Feb
6 Apr
13 Apr
14 Apr
15 Apr
2 May1
5 May
25 April
20 May
1 July
19 July
20 July
12 Aug
24 Oct2
5 Dec
12 Dec3
2 Jan 20174
* Unofficial Chinese Community Only

# Banks only
+ Government only
@ Special Holiday Granted by Thai Government
1
- Substitute for 1 May 2016 (Sunday)

- Substitute for 23 October 2016 (Sunday)
- Substitute for 10 December 2016 (Saturday)
4
- Substitute for 31 December 2016 (Saturday)
2
3
OTHER INFORMATION
2016
INDIA
New Year's Day
Republic Day
Good Friday
Ugadi
Ramnavami
Independence Day
Ganesh Chaturthi
Dusshera
Karnataka Formation Day
01-Jan
26-Jan
25-Mar
08-Apr
15-Apr
15-Aug
05-Sep
12-Oct
01-Nov
KOREA
New Year's Day
Lunar New Year (Seol)
Independent Movement Day
Children's Day
Buddha's Birthday
Memorial Day
Liberation Day
Full Moon Day (Chuseok)
National Foundation day
Hangul Proclamation Day
Christmas Day
OTHER INFORMATION
01-Jan
07-Feb
01-Mar
05-May
14-May
06-Jun
15-Aug
14-Sep
03-Oct
09-Oct
25-Dec
119
OTHER INFORMATION
2016
TAIWAN
Founding Day
Lunar New Year's Eve
Peace Memorial Day
Children's Day
Ching Ming Festival
Dragon Boat Festival
Extra vacation day after
Dragon Boat Festival
Mid-Autumn Festival
Extra vacation day after
Mid-Autumn Festival
Double Ten Day
120
01 Jan
07 Feb
08 Feb
09 Feb
10 Feb
11 Feb*
12 Feb#
29 Feb
04 Apr*
05 Apr
09 Jun
10 Jun#
15 Sep
16 Sep#
10 Oct
*When the memorial day or holiday falls on a Saturday or

Sunday, a deferred day off will be granted. If a memorial day or
a holiday falls on a Saturday, the deferred day off is on the
preceding workday; if a memorial day or a holiday falls on a
Sunday, the deferred day off is on the following workday.
However, the deferred days off for Chinese New Years Eve
and Chinese New Year are always on the following workdays.
# The extra vacation days will have to be made up on the
Saturday before the long weekends occur.
OTHER INFORMATION
PRIME RATES (as at 4th Quarter 2015)
RATE (%)
COUNTRY
4Q
2010
4Q
2011
4Q
2012
4Q
2013
4Q
2014
4Q
2015
Brunei
5.50
5.50
5.50
5.50
5.50
5.50
China**
5.60
6.90
6.40
6.15
6.15
4.75
Hong Kong
5.00
5.00
5.00
5.00
5.00
5.00
India
8.50
14.75
9.75
8.75
10.25
9.95
Indonesia
6.50
6.00
5.75
7.50
7.75
7.75
Macau
5.25
5.25
5.25
5.25
5.25
5.25
Malaysia^^^
6.30
6.60
6.60
6.60
6.85
4.65
Philippines
6.54
5.74
5.32
4.66
4.36
4.51
Singapore
5.38
5.38
5.38
5.38
5.35
5.35
South Korea+
2.38
3.25
2.76
2.50
2.00
1.50
Thailand#
6.56
7.71
7.52
7.51
7.28
7.10
United Kingdom
0.50
0.50
0.50
0.50
0.50
0.50
United States of
America
3.25
3.25
3.25
3.25
3.25
3.25
Vietnam##
9.00
9.00
9.00
9.00
9.00
9.00
China**
= 3-year Benchmark Lending Rate
Malaysia^^^ = Indicative Effective Lending Rate
South Korea+ = Call Rate of The Bank of Korea
(Implementation date is Nov 22nd 2012)
Thailand #
= Minimum Loan Rate % per annum
(avg based on local bank)
Vietnam##
= Min and in VND per year
OTHER INFORMATION
121
OTHER INFORMATION
IDD CODES AND TIME DIFFERENCES
LOCATION
122
Australia:
Melbourne
Perth
Sydney
Bahrain
Bangladesh (Dhaka)
Bhutan (Thimphu)
Brunei:
Bandar Seri Begawan
Kuala Belait
Cambodia (Phnom Penh)
Canada:
Toronto (Metropolitan)
Vancouver
China:
Beijing
Guangzhou
Hong Kong
Macau
Shanghai
Shenzhen
France (Paris)
India:
Bangalore
Chennai
New Delhi
Mumbai
Indonesia:
Bali
Jakarta
Ireland:
Cork
Dublin
Japan:
Tokyo
Osaka
Kazakhstan (Almaty)
Korea (Seoul)
Korea (Pyongyang)
Laos (Vientiane)
IDD
COUNTRY
CODE
AREA
CODE
TIME
DIFFERENCE
(Hours)*
61
61
61
973
880
975
3
8
2
2
2
+3
0
+3
-5
-2
-2
673
673
855
2
3
23
0
0
-1
1
1
416
604
-13
-16
86
86
852
853
86
86
33
10
20
21
755
1
0
0
0
0
0
0
-7
91
91
91
91
80
44
11
22
-2.5
-2.5
-2.5
-2.5
62
62
36
21
0
-1
353
353
21
1
-8
-8
81
81
7
82
850
856
3
6
327
2
2
21
+1
+1
-2
+1
+1
-1
Source: www.worldtimeserver.com ; www.worldtimezone.com

www.timeanddate.com
OTHER INFORMATION
LOCATION
Malaysia:
Johor Bahru
Kota Kinabalu
Kuala Lumpur
Kuching
Penang
Mongolia (Ulaanbaatar)
Myanmar (Rangoon)
Nepal (Kathmandu)
New Zealand:
Auckland
Wellington
Pakistan (Karachi)
Philippines (Manila)
Qatar
Singapore
Spain:
Barcelona
Girona
South Africa:
Johannesburg
Cape Town
Sri Lanka (Colombo)
Russia (Moscow)
Taiwan (Taipei)
Thailand:
Bangkok
Phuket
United Arab Emirates:
Abu Dhabi
Dubai
United Kingdom:
London
Edinburgh
USA:
Los Angeles
New York
Vietnam:
Ho Chi Minh City
Hanoi
*
IDD
COUNTRY
CODE
AREA
CODE
TIME
DIFFERENCE
(Hours)*
60
60
60
60
60
976
95
977
7
88
3
82
4
11
1
1
0
0
0
0
0
0
-1.5
-2.25
64
64
92
63
974
65
9
4
21
2
-
+5
+5
-3
0
-5
0
34
34
93
972
-7
-7
27
27
94
7
886
11
21
11
495
2
-6
-6
-2.5
-5
0
66
66
2
76
-1
-1
971
971
2
4
-4
-4
44
44
20
131
-8
-8
1
1
213
212
-16
-13
84
84
8
4
-1
-1
As compared to Hong Kong. Allowance should be made for

seasonal time variations. Time differences above as at 1 January.
OTHER INFORMATION
123
OTHER INFORMATION
CONVERSION FACTORS
124
OTHER INFORMATION
OTHER INFORMATION
125
OTHER INFORMATION
SOME INTERESTING FACTS
Vietnams history can roughly be divided into the following
periods:
Pre-history: from circa 400,000 years (Palaeolithic to 4,000
years (Neolithic) ago, cultures in the area included Son Vi,
Hoa Binh, Bac Son, Ha Long, and Hoa Loc.
Proto-history: According to legends, Vietnam riginated in
the seventh century BC when the Hung Kings founded Van
Lang. In the third century BC, King An Duong Vuong
named founded Au Lac and ruled until 179 B.C.
Chinese Occupation: Vietnam was occupied by China
from the first to the tenth century A.D.
Monarchy: Kings rules the area from 968 to 1945.
Independence: The Socialist Republic of Vienam was
founded after the 1945 revolution, when President Ho
Chi Minh declared independence.
French War: Vietnam battled French colonialism from
1858 to the August Revolution in 1945, and from 1946
to the victory at Bien Bien Phu in 1954.
American War: Vietnam fought America from 1954 to
Ho Chi Minhs victory on April 30, 1975.
From 1975 until now: Vietnam has been working towards
development and success and has been member of
International Organizations
1976: NonAligned Movement (NAM)
1976, Jun: World Intellectual Property Organization

(WIPO)
126
1976, Oct: Member of UNESCO

1977, Sep: Vietnam became the member of The United
Unions (UN)
1995, Jul: Vietnam became the seventh member of
Association of Southeast Asian Nations (ASEAN)
1995, Jul: ASEAN Free Trade Area (AFTA)
1996: The Asia-Europe Meeting (ASEM)
1998, Nov: Asia-Pacific Economic Cooperation (APEC)
2000, Jul: signed the Bilateral Trade Agreement (BTA)
with the United States
2007, Jan: Vietnam became the 150th member of the
World Trade Organization (WTO)
2013, Jul: Vietnam maintains diplomatic relationships with
182 nations throughout the world, including permanent
members of United Nations Security Council
OTHER INFORMATION
2015, May: Free Trade Agreement (FTA), South Korea

and Vietnam sign Free-Trade Agreement
2015, May: The Free Trade Agreement between the
Socialist Republic of Viet Nam and the Eurasian
Economic Union and its Members States, of the other
part (VN-EAEU FTA)
2015, Oct: The Trans-Pacific Partnership (TPP) was
concluded on 5 October 2015 in Atlanta, Georgia, USA.
2015, Nov: ASEAN Economic Community (AEC)
2015, Dec: Free Trade Agreement between EU and
Vietnam (EVFTA)
OTHER INFORMATION
127
OTHER INFORMATION
VIETNAM KEY DATA
Government
Country Name
The Socialist Republic of Vietnam
Head of State
President
Government Type
Socialist Republic
Head of Government
Prime Minister
Capital City
Hanoi
Administrative Divisions :
58 provinces and 5 municipalities
Independence
2nd September 1945
Legal System
Based on Constitution of Vietnam
Official Language
Vietnamese
National Language
Vietnamese
Geography
Geographic Coordinates :
16 10 N, 107 50 E
Location
South East Asia
Border Countries
Cambodia 1,158 km,
Total Area
331,210 sq km
Land Area
310,070 sq km
Water
21,140 sq km
Land use
arable land: 19.64%;
China 1,297 km, Laos 2,161 km
permanent crops: 11.18%;
other: 69.18%
128
Irrigated Land
45,850 sq km (2005)
Coastline
3,444 km (excludes islands)
Land boundaries
4,616 km
Natural Resources
phosphates, coal, manganese,

rare earth
elements, bauxite,
chromate, offshore oil and gas

deposits, timber, hydropower
Climate type
tropical in south; monsoonal

in north with hot, rainy season
(May to September) and warm,
dry season (October to March)
Natural hazards
occasional typhoons (May to

January) with extensive flooding,
especially in the Mekong River
delta
OTHER INFORMATION
People
Total Population
: 91.70 million (2015 est.)
Age structure
: Urban: 31.45%
Rural: 60.25%
Male: 49.35%
Female: 60.64%
Population Growth Rate : 1.07% (2015 est.)

Median Age
: total: 30.4 (2015 est.)
Life Expectancy
: average age: 73.3 years old

male: 70.7 years old
female: 76.1 years old
Urban Population
Hanoi
: 7.38 million (2015 est.)
Ho Chi Minh City
: 8.22 million (2015 est.)
Ethnic Groups
: 54 Ethnic Groups
Kinh (Viet) 85.7%, Tay 1.9%, Thai
1.8%, Muong 1.5%, Khome 1.5%,
Hmong 1.2%, Nung 1.1%, others
5.3% (2009 census)
Languages
: Vietnamese
(official),
English
(increasingly favored as a second

language), some French, Chinese,
and Khmer; mountain area languages
(Mon-Khmer and Malayo-Polynesian)
Literacy (definition: age : total population: 94.7% (2014 est.)
15 and over can read
and write)
Population below
male: 96.4% (2014 est.)

female: 93% (2014 est.)
: 11.3% (2012 est.)
poverty line
Labor Force
: 54.61 million (2015 est.)
Labor Force by
: Agriculture: 44.3% (2015 est.)
occupation
Industry: 22.9% (2015 est.)

Services: 32.8% (2015 est.)
Unemployment Rate
OTHER INFORMATION
: 2.31% (2015 est.)
129
OTHER INFORMATION
VIETNAM KEY DATA (contd)
Economy
Monetary Unit
: Vietnamese Dong
Currency Code
: VND
Exchange rate to
USD
dong (VND) per

: 21,945 (2015 average)
Euro
: 24,469 (2015 average)
British Pound
: 33,693 (2015 average)
Average Consumer
: 0.63% (2015 est)
Price Index (CPI)

Fiscal Year
: 1 January to 31 December
GDP (Official Exchange : US$ 191.06 billion (2015 est)

Rate)
GDP Growth Rate
: 6.68% (2015 est)
GDP composition by
: Agriculture: 17%
sectors
Industry: 33.25%
Services: 39.73% (2015 est.)
Trade
Total Exports
: US$ 162.4 billion
Major Exports
: 1-Telephones, mobile phones and
Commodities
parts thereof
2-Textiles and garments
3-Computers, electrical products,
130
spare-parts and components thereof

4-Foot-wear
5-Fishery products
6-Crude oil
7-Machine, equipment, tools and
instruments
8-Wood and wooden products
9-Other means of transportation,
parts and accessories thereof
10-Rice
Export Partners
: EU 10,7%, US 17%, Asean - 4,2%,

Japan - 4%, Korea 25,2%,
China 13.7%
Total Imports
: US$ 165.6 billion
(USD billion)
OTHER INFORMATION
Major Imports
Commodities
: 1- Machine, equipment, tools and

instruments
2- Computers, electrical products,
spare-parts and components thereof
3- Textile, leather and foot-wears
materials and auxiliaries group
4- Telephones, mobile phones and
parts thereof
5- Petroleum products
6- Iron and steel
7- Plastics
8- Animal fodders and animal
fodders materials
9- Chemical
10- Other means of transportation,
parts and auxiliaries thereof
Commodities
: products, fertilizer, steel products, raw
Import Partners
: China 12.9%, Asean 3.8%, Korea 27.4%,
International Airports
: Tan Son Nhat International Airport
cotton, grain, cement, motorcycles

EU 16.3%, Japan 11.6%, US 27%
(Ho Chi Minh City), Da Nang International Airport (Da Nang), Hanoi Noi
Bai International Airport (Hanoi), Nha
Trang
Cam
Ranh
Airport
(Nha
Trang),
International
Can
Tho
International Airport (Can Tho)

Major Seaports
: Cam Pha Port (Quang Ninh), Hai

Phong Port (Hai Phong), Nghi Son
Port (Thanh Hoa), Cua Lo Port
(Nghe An), Vung Ang Port (Ha Tinh),
Chan May Port (Thua Thien Hue),
Da Nang Port (Da Nang), Dung
Quoc Port (Quang Ngai), Quy Nhon
Port (Binh Dinh), Van Phong Port
(Khanh Hoa), Saigon Port (Ho Chi
Minh City), Vung Tau Port (Vung
Tau), Dong Nai Port (Dong Nai), Can
Tho Port (Can Tho)
OTHER INFORMATION
131
OTHER INFORMATION
ARCADIS ASIA LEADERSHIP TEAM
Kenneth Poon
Chief Executive Officer, Asia
kenneth.poon@arcadis.com
Matt Bennion
Chief Operating Officer, Asia
matt.bennion@arcadis.com
Graham Kean
Director
132
graham.kean@arcadis.com
Eric de Kruif
Chief Financial Officer, Asia
eric.dekruif@arcadis.com
OTHER INFORMATION
Loo Ming Chee

Regional Head, Southeast Asia
mcloo@arcadis.com
Alan Hearn
Regional Head, East Asia & India
alan.hearn@arcadis.com
Lai Pak Hung

Head of Greater China
pakhung.lai@arcadis.com
OTHER INFORMATION
133
OTHER INFORMATION
ARCADIS ASIA SECTORS
AUTOMOTIVE
AVIATION
134
CHEMICALS & PHARMACEUTICALS
OTHER INFORMATION
COMMERCIAL DEVELOPERS
FINANCIAL INSTITUTIONS
OIL AND GAS
OTHER INFORMATION
135
OTHER INFORMATION
ARCADIS ASIA SECTORS (contd)
RAIL
RETAIL & CONGLOMERATES
136
OTHER INFORMATION
ARCADIS ASIA SERVICES

BUSINESS ADVISORY
COST MANAGEMENT
CONTRACT SOLUTIONS
OTHER INFORMATION
137
OTHER INFORMATION
ARCADIS ASIA SERVICES (contd)
ENVIRONMENT
PROJECT & PROGRAMME MANAGEMENT
138
WATER
OTHER INFORMATION
DIRECTORY OF OFFICES
CHINA
HONG KONG
ARCADIS ASIA LIMITED
LANGDON & SEAH HONG KONG LIMITED
LANGDON & SEAH CHINA LIMITED
LANGDON & SEAH MANAGEMENT LIMITED
38/F, AIA Kowloon Tower, Landmark East
100 How Ming Street
Kwun Tong, Kowloon
Hong Kong
GPS
: 22.3125, 114.2223
Tel
: (852) 2830 3500
Fax
: (852) 2576 0416
Email
: info-hk@arcadis.com
Contact : Au Kai Ming, Francis
BEIJING
LANGDON & SEAH (BEIJING) CONSTRUCTION
CONSULTANTS CO. LTD.
Suite 1225 - 1242, South Wing
Central Tower, Junefield Plaza
10 Xuan Wu Men Wai Street
Beijing 100052
China
GPS
: 39.896738, 116.375676
Tel
: (86 10) 6310 1136
Fax
: (86 10) 6310 1143
Email
: info-cn@arcadis.com
Contact : Chan Chi Keung, Andrew
CHANGSHA
LANGDON & SEAH CONSULTANCY (SHANGHAI)
CO. LTD. CHANGSHA BRANCH
Room 11051, Zhong Tian Plaza
766 Wu Yi Avenue
Furong District
Changsha
Hunan Province 410005
China
GPS
: 28.195151, 112.983057
Tel
: (86 731) 8971 1860
Fax
: (86 731) 8971 6736
Email
Contact : Chen Yong
(Contd)
OTHER INFORMATION
139
OTHER INFORMATION
CHENGDU
LANGDON & SEAH CONSULTANCY (CHENGDU)
CO. LTD.
Room 807, Block A
Times Plaza
2 Zongfu Road
Chengdu
Sichuan Province 610016
China
GPS
: 30.656666, 104.080567
Tel
: (86 28) 8671 8373
Fax
: (86 28) 8671 8535
Email
Contact : Lum Ka Wai, Andy
140
CHONGQING
LANGDON & SEAH CONSULTANCY (CHENGDU)
CO. LTD. CHONGQING BRANCH
Room 3408, International Trade Centre
38 Qing Nian Road
Central District
Chongqing 400010
China
GPS
: 29.556331, 106.574332
Tel
: (86 23) 8655 1333
Fax
: (86 23) 8655 1616
Email
Contact : Lin Wai Yip, Gary
DALIAN
CONSULTANTS CO. LTD. DALIAN BRANCH
Unit 07, 32F, Xiwang Tower
136 Zhongshan Road
Zhongshan District
Dalian
Liaoning Province 116001
China
GPS
: 38.914864, 121.631245
Tel
: (86 411) 8800 8018
Fax
: (86 411) 8800 8823
Email
Contact : Ng Hin Kan, Kenn
OTHER INFORMATION
FOSHAN
LANGDON & SEAH CONSULTANCY (SHENZHEN)
CO. LTD. FOSHAN BRANCH
3/F, Foshan Ling Nan Tian Di
Zu Miao Road Shop Nos. Z01 - Z11
Zu Miao Road
Foshan
Guangdong Province 528000
China
GPS
: 23.031224, 113.11278
Tel
: (86 757) 8203 0028
Fax
: (86 757) 8203 0029
Email
Contact : Lee Kwok Wing, Dickey
GUANGZHOU
CO. LTD. GUANGZHOU BRANCH
3A10 - 18 Unit, 3/F
Bank of America Plaza
555 Ren Min Zhong Road
Guangzhou
China
GPS
: 23.123148, 113.253628
Tel
: (86 20) 8130 3813
Fax
: (86 20) 8130 3812
Email
Contact : Wong Wing Cheung, Jack
HAIKOU
CO. LTD. HAIKOU BRANCH
Unit B, 27/F, Times Square
2 Guomao Road
Haikou
Hainan Province 570100
China
GPS
: 20.029509, 110.326235
Tel
: (86 898) 6652 7818
Fax
: (86 898) 6652 7809
Email
Contact : Yi Zheng Gang
(Contd)
OTHER INFORMATION
141
OTHER INFORMATION
HANGZHOU
CO. LTD. HANGZHOU BRANCH
Room 2305, WinNing International
100 Min Xin Road
Hangzhou
Zhejiang Province 310016
China
GPS
: 30.251755, 120.218913
Tel
: (86 571) 2829 7766
Fax
: (86 571) 2829 7622
Email
Contact : Lu Mei Hua / Zhou Yuan
HENGQIN
LANGDON & SEAH CONSULTANCY ZHUHAI
HENGQIN CO. LTD.
7/F, 156 Nan Shan Ju Road
Hengqin, Zhuhai
China
GPS
: 22.142774, 113.544438
Tel
: (86 756) 868 8986
Fax
: (86 756) 868 8969
Email
Contact : Wan Chi Shing, Stanley
142
MACAU
LANGDON & SEAH MACAU LIMITED
Avenida da Praia Grande, No. 594
Edificio BCM, 12th Floor
Macau
GPS
: 22.192210, 113.541252
Tel
: (853) 2833 1710
Fax
: (853) 2833 1532
Email
: info-mo@arcadis.com
Contact : Chan Yuk Sim, Katherine
OTHER INFORMATION
NANJING
CO. LTD. NANJING BRANCH
1104 South Tower Jinmao Plaza
201 Zhong Yang Road
Nanjing
Jiangsu Province 210009
China
GPS
: 32.071984, 118.783443
Tel
: (86 25) 5791 1860
Fax
: (86 25) 6698 1860
Email
Contact : Chen Taofen
QINGDAO
CO. LTD. QINGDAO BRANCH
Room 09, 16/F, HNA Center
234 Yan An San Road
Shinan District
Qingdao
Shangdong Province 266071
China
GPS
: 36.060852, 120.375351
Tel
: (86 532) 8280 1818
Fax
: (86 532) 8280 1881
Email
Contact : Feng Shi En, Andy
SHANGHAI
CO. LTD.
11th Floor, Building C, The Place
No. 150, Zunyi Road
Changning District
Shanghai 200051
China
GPS
: 31.207363, 121.407984
Tel
: (86 21) 6026 1300
Fax
: (86 21) 6026 1800
Email
Contact : Chan Hoi Or, Joe
(Contd)
OTHER INFORMATION
143
OTHER INFORMATION
SHENYANG
CONSULTANTS CO. LTD. SHENYANG BRANCH
Room 1801, 1806 - 1809, 18/F
E Tower of Fortune Plaza
59 Beizhan Road
Shenhe District
Shenyang
Liaoning Province 110013
China
GPS
: 41.814314, 123.435484
Tel
: (86 24) 3195 8880
Fax
: (86 24) 3128 6983
Email
Contact : Chow Hau Ming, Simon
144
SHENZHEN
CO. LTD.
Room 1001, AVIC Centre
1018 Huafu Road
Shenzhen
China
GPS
: 22.543241, 114.082051
Tel
: (86 755) 2598 1841
Fax
: (86 755) 2598 1854
Email
Contact : Lo Kwok Chu, Kenneth
SUZHOU
CO. LTD. SUZHOU BRANCH
Room 906, Century Financial Tower
1 Suzhou Avenue West
Suzhou
Jiangsu Province 215021
China
GPS
: 31.315872, 120.674879
Tel
: (86 512) 8777 5599
Fax
: (86 512) 8777 5600
Email
Contact : Zhang Rui
OTHER INFORMATION
TIANJIN
LANGDON & SEAH CONSULTANCY CO. LTD.
TIANJIN BRANCH
4002, 40/F
Tianjin World Financial Centre Office Tower
2 Dagubei Road
He Ping District
Tianjin 300020
China
GPS
: 39.129619, 117.202758
Tel
: (86 22) 2329 8611
Fax
: (86 22) 2319 3186
Email
Contact : Wong Chin Ying
WUHAN
CO., LTD. WUHAN BRANCH
Room 1008, 10/F
Corporate Centre 5
Wuhan Tiandi
1628 Zhongshan Road
Wuhan
Hubei Province 430010
China
GPS
: 30.608202, 114.310273
Tel
: (86 27) 5920 9299
Fax
: (86 27) 5920 9298
Email
Contact : Guang Rong
XIAN
CO., LTD. XIAN BRANCH
Unit 06-07, 16/F, CapitaMall Office Building
64 South Second Ring Western
Xian
Shaanxi Province 710065
China
GPS
: 34.230397, 108.934893
Tel
: (86 29) 8866 9711
Fax
: (86 29) 8866 9760
Email
Contact : Wang Zhu Zhu
(Contd)
OTHER INFORMATION
145
OTHER INFORMATION
BRUNEI
BANDAR SERI BEGAWAN
LANGDON & SEAH
JURUUKUR BAHAN dan PENGURUSAN
UTAMACON
Unit 25, BT Complex, Kg. Jaya Setia
Mukim Berakas 'A' BB2713
P.O. Box 313
Bandar Seri Begawan BS8670
Negara Brunei Darussalam
GPS
: 4.9394, 114.9377
Tel
: (673) 233 2833
Fax
: (673) 233 2933
Email
: info-bn@arcadis.com
Contact : Shafie Yusof
KUALA BELAIT
JBPU (B) SDN BHD
Unit 1, 1st Floor
Tang Ching Ying (TCY) Building
Lot 118, Jalan Sungai
Kuala Belait, KA 2331
Tel
: (673) 334 7641
Email
: info.jbpusb@jbpu.com.bn
Contact : Shafie Yusof / Shahril Othman
146
PETROKON UTAMA SDN BHD

Lot 7219, Jalan Jaya Negara
Kg. Pandan, P.O. Box 811
Kuala Belait KA1189
GPS
: 4.5843, 114.2087
Tel
: (673) 334 7878
Fax
: (673) 334 7788
Email
: pusbkb@pusbbrunei.com.bn
Contact : Shafie Yusof
OTHER INFORMATION
INDIA
BANGALORE
LANGDON & SEAH CONSULTING INDIA PVT. LTD.
2nd Floor, Esquire Center
No. 9, M G Road
Bangalore 560008
India
GPS
: 12.974, 77.617
Tel
: (91 80) 4123 9141
Fax
: (91 80) 4123 8922
Email
: info-in@arcadis.com
Contact : Velan Murali / Biju AK
CHENNAI
New No. 20
West Cott Road
Royapettah
Chennai 600004
India
GPS
: 13.055, 80.265
Tel
: (91 44) 2855 3137
Fax
: (91 44) 2855 0141
Email
Contact : Velan Murali / Sankar Ramakrishnan
DELHI
The Elements
2nd Floor, Unit No. 465
Udyog Vihar, Phase-V
Gurgaon, Haryana 122016
India
GPS
: 28.5012, 77.085
Tel
: (91 124) 430 8790
Fax
: (91 124) 430 8793
Email
Contact : Velan Murali / Arun Basu
(Contd)
OTHER INFORMATION
147
OTHER INFORMATION
HYDERABAD
2nd Floor, Trade Fair Office
Hitex Exhibition Center
Izzat Nagar
Hyderabad 500084
India
GPS
: 17.475, 78.375
Tel
: (91 40) 2311 4942
Fax
: (91 40) 2311 2942
Email
Contact : Velan Murali / Bhoomeshwar Rao
KOLKATA
Stesalit Towers, 6th Floor
E2-3, EP & Gp Block
Sector V, Salt Lake
Kolkata 700091
India
GPS
: 22.569814, 88.433725
Tel
: (91 124) 430 8790
Fax
: (91 124) 430 8793
Email
Contact : Velan Murali / Arun Basu
148
MUMBAI
Unit No. 103, First Floor
Akruti SMC, Khopat Junction
Near Khopat Bus Depot
Thane (West) 400601
Maharashtra
India
GPS
: 19.1988, 72.9756
Tel
: (91 22) 4125 6060
Fax
: (91 22) 4125 6050
Email
Contact : Velan Murali / Darshan Joshi
OTHER INFORMATION
PUNE
City Survey No. 804 / B
Bhandarkar Institute Road
Lane No-14
Pune 411004 (Near Skoda Show Room)
Maharashtra
India
GPS
: 18.5204, 73.8567
Tel
: (91 20) 2565 0417 / 2565 0419
Fax
: (91 22) 3933 5556
Email
Contact : Velan Murali / Darshan Joshi
INDONESIA
BALI
P.T. LANGDON & SEAH INDONESIA
Level 2, Alamandra Office
Jalan By Pass Ngurah Rai No. 67
Banjar Pengenderan, Kedonganan
Bali 80361
Indonesia
GPS
: 8.7893, 115.2106
Tel
: (62 361) 472 5353
Fax
: (62 361) 472 5354
Email
: info.idbali@arcadis.com
Contact : Ir. Putu Arya Canti
JAKARTA
P.T. LANGDON & SEAH INDONESIA
Level 18, Ratu Plaza Office Tower
Jalan Jenderal Sudirman 9
Jakarta 10270
Indonesia
GPS
: 6.2271, 106.8008
Tel
: (62 21) 739 7550
Fax
: (62 21) 739 7846
Email
: info.idqs@arcadis.com
Contact : Peter Robinson
(Contd)
OTHER INFORMATION
149
OTHER INFORMATION
MALAYSIA
SELANGOR
LANGDON & SEAH SDN BHD
JURU UKUR BAHAN MALAYSIA
JUBM SDN BHD
ARCADIS PROJEKS SDN BHD
Level 5, Menara TSR
12 Jalan PJU 7/3, Mutiara Damansara
47810 Petaling Jaya
Selangor Darul Ehsan, Malaysia
GPS
: 3.1616, 101.6129
Tel
: (60 3) 2106 8000
Fax
: (60 3) 2106 9090
Email
: info-my@arcadis.com
Contact : Loo Ming Chee / Mohd Ali Abd Karim /
Justin Teoh / Syed Mahadzir Syed Ahmad /
Mohamad Faiz Awang / Nur Aziz Abu Bakar
150
JOHOR
JUBM SDN BHD
47, Jalan Setia Tropika 1/30
Taman Setia Tropika
81200 Johor Bahru
Johor Darul Takzim, Malaysia
GPS
: 1.5422, 103.7111
Tel
: (60 7) 232 8300
Fax
: (60 7) 232 8232
Email
Contact : Syed Mahadzir Syed Ahmad
PENANG
JUBM SDN BHD
Suite 3A-3, Level 3A, Wisma Great Eastern
No. 25, Lebuh Light
10200 Penang, Malaysia
GPS
: 5.4201, 100.3408
Tel
: (60 4) 264 2071 / 264 2072 / 264 2073
Fax
: (60 4) 264 2068
Email
Contact : Nur Aziz Abu Bakar
OTHER INFORMATION
SABAH
JUBM SDN BHD
Suite 8A, 8th Floor, Wisma Pendidikan
Jalan Padang
P.O. Box 11598, 88817 Kota Kinabalu
Sabah, Malaysia
GPS
: 5.9783, 116.0761
Tel
: (60 88) 223 369
Fax
: (60 88) 216 537
Email
Contact : Ang Kun Eng
SARAWAK
JUBM SDN BHD
No. 2 (3rd Floor), Jalan Song Thian Cheok
93100 Kuching
Sarawak
Malaysia
GPS
: 1.5532, 110.3532
Tel
: (60 82) 232 212
Fax
: (60 82) 232 198
Email
Contact : Nor Azman Bin Baharum
PHILIPPINES
MANILA
LANGDON & SEAH PHILIPPINES INC
4th & 7th Floor, Kings Court 1
2129 Chino Roces Avenue
Makati City 1231
Philippines
GPS
: 14.5576, 121.0135
Tel
: (63 2) 811 2971
Fax
: (63 2) 811 2071
Email
: info-ph@arcadis.com
Contact : Darneil Perez
(Contd)
OTHER INFORMATION
151
OTHER INFORMATION
CEBU
LANGDON & SEAH PHILIPPINES INC
12F, 2Quad Building
Cardinal Rosales Avenue
Cebu Business Park
Cebu City 6000
Philippines
GPS
: 10.3142574, 123.9053502
Tel
: (63 32) 232 2200
Fax
: (63 32) 260 3699
Email
: info-ph@arcadis.com
Contact : Darneil Perez
SINGAPORE
LANGDON & SEAH SINGAPORE PTE LTD

L&S CONTRACT ADVISORY & DISPUTE
MANAGEMENT SERVICES PTE LTD
1 Magazine Road
#05-01 Central Mall
Singapore 059567
GPS
: 1.288526, 103.842085
Tel
: (65) 6222 3888
Fax
: (65) 6224 7089
Email
: info-sg@arcadis.com
Contact : Eugene Seah / Ho Kong Mo
152
ARCADIS PROJECT MANAGEMENT PTE LTD

1 Magazine Road
#03-12 Central Mall
Singapore 059567
GPS
: 1.288526, 103.842085
Tel
: (65) 6239 8600
Fax
: (65) 6538 4508
Email
: pmps@arcadis.sg
Contact : Seah Choo Meng / Teoh Wooi Sin /
Bernard Ho
OTHER INFORMATION
SOUTH KOREA
SEOUL
LANGDON & SEAH KOREA CO. LTD.
#429, 27
Seochojungang-ro 24-gil
Seocho-gu
Seoul 137-882
Korea
GPS
: 37.4953, 127.0164
Tel
: (82 2) 543 3888
Fax
: (82 2) 543 3898
Email
: info-kr@arcadis.com
Contact : Aaron Page
THAILAND
BANGKOK
LANGDON & SEAH (THAILAND) LTD.
LECE (THAILAND) CO. LTD.
10th Floor, Kian Gwan II Building
140/1 Wireless Road
Lumpini, Pratumwan
Bangkok 10330, Thailand
GPS
: 13.734969, 100.545448
Tel
: (66 2) 253 1438 - 9
Fax
: (66 2) 253 4977
Email
: info-th@arcadis.com
Contact : Ang Yen Kooi / Wong Soon Bin
VIETNAM
HANOI
LANGDON & SEAH VIETNAM CO. LTD.
Level 2, Hoa Binh Tower Building
106 Hoang Quoc Viet Street
Cau Giay District
Hanoi
Vietnam
GPS
: 21.046280, 105.793827
Tel
: (844) 3942 7525
Fax
: (844) 3942 7526
Email
: info-vn@arcadis.com
Contact : Mark Olive
(Contd)
OTHER INFORMATION
153
OTHER INFORMATION
HO CHI MINH CITY

LANGDON & SEAH VIETNAM CO. LTD.
L12-03, Level 12, Vincom Building
72 Le Thanh Ton Street, District 1
Ho Chi Minh City
Vietnam
GPS
: 10.777828, 106.702548
Tel
: (848) 3823 8297
Fax
: (848) 3823 8197
Email
: info-vn@arcadis.com
Contact : Mark Olive
ARCADIS ASIA HEADQUARTERS
HONG KONG
ARCADIS ASIA LIMITED
38/F, AIA Kowloon Tower, Landmark East
100 How Ming Street
Kwun Tong, Kowloon
Hong Kong
GPS
: 22.3125, 114.2223
Tel
: (852) 2830 3500
Fax
: (852) 2576 0416
Email
: asiainfo@arcadis.com
Contact : Poon Kan Young, Kenneth, CEO, Asia
154
ARCADIS HEADQUARTERS
AMSTERDAM
ARCADIS NV
"Symphony"
Gustav Mahlerplein 97-103
1082 MS Amsterdam
P.O. Box 7895
1008 AB Amsterdam
The Netherlands
Tel
: (31 20) 201 1011
Fax
: (31 20) 201 1002
Email
: info@arcadis.com
Website : www.arcadis.com
Contact : Neil McArthur, CEO
OTHER INFORMATION
ACKNOWLEDGEMENT
Credits to KPMG, Jardine Lloyd Thompson.

CB Richard Ellis.
Langdon & Seah Vietnam Co., Ltd would like to
acknowledge the invaluable support and advice from
the following organisations:
http://www.kpmg.com
http://www.jltasia.com
http://www.cbrevietnam.com
OTHER INFORMATION
155

Construction Cost Handbook 2016 Vietnam

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LANGDON & SEAH VIETNAM CO.

Handbook Cover Photos:

2. Hilton Hanoi Hotel Hanoi

Copyright Statement and information caveat

handbook are current as at 4th Quarter 2015.

1. CONSTRUCTION COST DATA

2. GENERAL CONSTRUCTION DATA

LANGDON & SEAH VIETNAM CO., LTD

Building Control and Procedures

4. VIETNAM BUSINESS ENVIRONMENT

LANGDON & SEAH VIETNAM CO., LTD

Langdon & Seah Vietnam Co., Ltd

CONSTRUCTION COST DATA

Construction Market 2016 Outlook

Construction Costs for Selected Asian Cities

CONSTRUCTION COST DATA

LANGDON & SEAH VIETNAM CO., LTD

As in 2015 much of the press has focused more on

Although Global GDP will be lower in 2016 we note

CONSTRUCTION COST DATA

expected. Europe and Japan will continue their

CONSTRUCTION COST DATA

987 1,544 1,557 1,155 969

980 1,175 1588 2,013

Legal Capital (bn US$)

Registered Capital (bn US$)

Annual Foreign Investment (1998-2015)

LANGDON & SEAH VIETNAM CO., LTD

CONSTRUCTION COST DATA

CONSTRUCTION COST DATA

S. Korea Singapore B.V.Islands Hong Kong Thailand

FDI by countries as of Dec 2015

CONSTRUCTION COST DATA

Industry and construction

Electricity, gas and

Wholesale & Retail;

LANGDON & SEAH VIETNAM CO., LTD

Water supply & Waste

Agriculture & Forestry &

Art & Entertainment

Finance, Banking &

Health care & Social welfare

Science & Technology

Education and Training

Administration & Supporting services

(Source: Vietnam Investment Review)

CONSTRUCTION COST DATA

CONSTRUCTION COST DATA

(Source: Ministry of Planning and Investment)

VIETNAM ANNUAL ODA

(Source: General Statistics Office)

LANGDON & SEAH VIETNAM CO., LTD

Construction, Real Growth,

2003 2004 2005 2006

2000 2001 2002

Construction Value, US$bn

Construction Value, US$bn

2011 2012 2013

4. Hardcore bed blinded with fine materials

5. Mass concrete grade 15

6. Reinforced concrete grade 30

7. Mild steel rod reinforcement

8. High tensile rod reinforcement

9. Sawn formwork to soffits of suspended slabs