On October 12, 2016, more than 100 attendees from around the world convened at the Park Hyatt
Saigon for VinaCapital’s eleventh annual investor conference. The event assembled a range of
speakers, from a noted economist to the director of Vietnam’s only privately owned airline, which
will shortly undergo an initial public offering. For those investors who were not able to attend the
conference, a brief recap follows.

For much of the past two years, Vietnam’s real estate market has been among the most visible signs of
the economy’s expansion. Residential property sales have been robust, construction of condominiums
and office towers are underway in the major cities, and industrial parks are rising on their outskirts. It
does indeed appear that real estate has recovered from the bubble that burst in 2008. The sector is
fundamentally stronger thanks to the numerous reforms enacted over the past few years, and 2015 saw
a remarkable level of activity particularly in the residential sector.