International operators and developers expanding in Vietnam

The Hyatt Regency Nha Trang with about 500 keys should welcome guests by Q1 2019 as part of the mixed-use A&B Central Square, while the 459-key InterContinental Phu Quoc Long Beach Resort was inaugurated as the 1000th property of InterContinental Hotels Group to open within the EMEAA region.

In another context, Japan’s Nomura Real Estate Holdings purchased Japan’s Marubeni Corporation’s 24% stake in the 22-floor Sun Wah Tower, a Grade A office building situated in HCMC’s CBD with the current OCC of 99%. Meanwhile, the developer of Lotte Mall Hanoi proposed extending the lease agreement of this project for an additional 50 years to turn a profit. Located in Ciputra Hanoi International City, the US $600 million Lotte Mall Hanoi would provide a hotel, apartments, offices, and a shopping centre on its expected completion in 2022.