Netherlands-based mall developer ECC International Real Estate Hanoi announced plans to invest $400-500 million over the next five years to develop five to six malls in Vietnam and Thailand. Its first resort-style mall, to cost 2.9 billion baht ($96 million), is scheduled to open in the Thai city of Chiang Mai next December. Tjeert Kwant, [...]
WCT (S) Pte Ltd, under WCT Berhad, one of Malaysia’s largest construction and property development groups, on December 27 was licensed to carry out a housing and commercial complex project in HCM City. Accordingly, WCT (S) Pte Ltd and Southern Land Corp JSC will establish a joint venture called WCT-DPN Co Ltd with initial charter [...]
In the third week of December 2011, the bid price of ground land and apartment in HCM City saw contrary movements, especially projects in district 2 and Binh Chanh district. In district 2, generally, the bid price for projects in wards virtually decreased from 100,000-200,000 dong/m2. In An Phu-An Khanh new urban zone, in district [...]
Ho Chi Minh City’s sleepy apartment market sees no sign of improvements amid a difficult economy. “Never before has the property market been as stagnant as it is this year. There were a number of homebuyers by late 2008-2009, a period which was hurt by economic turmoil but there was almost no transaction at this [...]
HCM City Real Estate Association (HoREA) on December 23 organized a seminar themed “Quality and Housing Price” in the HCM City to discuss prices along with quality of apartments and houses. Chairman of HoREA, Le Hoang Chau spoke that real estate companies had to face monetary tightening policy and very high lending rates so in [...]
Petro Capital Infrastructure Investment Joint Stock Co (Petroland) announced that in December, the company has already sold 67 apartments in Petroland Tower at price of 25.6 million dong per square metre (exclusive VAT). The company has also completed selling up to 80 percent of total office areas in the tower and leasing the rest area. [...]
Apartment prices in Hanoi are in freefall as an unprecedented discount craze kicks in. For the first time ever, Hanoi’s apartment sector is experiencing saw strong price reductions. Recently VP3 apartment project in Hoang Mai district slashed prices to VND25 million per square metre, from the previous price of VND32 million seven months ago. Explaining [...]
The local property market is still plagued by extremely low consumer demand, but some developers have begun work on their projects in certain areas in District 9, HCMC. Thang Long Real, a property developer, has kicked off a sale of Nature Land, a part of Dong Tang Long urban area in the district’s Truong Thanh [...]
Vingroup Group on December 24 inaugurated Vincom Center Long Bien trade centre in Vincom Village eco urban zone, Sai Dong, Long Bien, Hanoi. Vincom Center Long Bien with total area of 45,000 square meters is the third trade centre in the Vincom Center system invested by Vingroup. With a goal of building a “shopping paradise” [...]
Similar to the general situation of Vietnam real estate market, Hanoi realty sector has seen small transactions during this year, which requires an early corporate restructuring in this field to boost product quality, cope with capital shortage and boost sales. The requirement is attached with tighter management moves of authorities to avoid speculation and offloading. [...]
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