French-backed Bachy Soletanche Vietnam has been accused by its Vietnamese partner of intentionally delaying the construction of a high-rise complex project in Hanoi. In its statement of claim, Cau Giay Service and Trading Investment said the French contractor had halted construction without reasonable cause, thus violating the terms of the contract. The Vietnamese firm also [...]
It will be a long time before Hanoi’s apartment market is truly transparent with locals still preferring the rumour mill to prestige launches, experts have said. Pham Thanh Hung, deputy general director of Cen Group, a realty consultant company in Vietnam, said the lack of transparency in the market was the result of the mindset [...]
Some apartment building projects have been adjusted into house and villa projects because investors are having difficulty in selling apartments. The apartment market was very buoyant in 2007. During that time, apartments sold as soon as construction on them started. Now, due to high lending interest rates, people do not want to borrow money from [...]
Not everyone in town has rushed to join the property boom in Danang. Although he has received offers of well over a million dollars for it, Doan Ngoc Minh has refused to sell his half-built, nine-storey house on a quiet street in the city centre. That’s because his family is already earning handsome profits thanks [...]
Local district authorities are not closely monitoring violations of construction regulations, according to a report from the HCM City Construction Department. The department has carried out inspections from late 2009, focusing on building sites that began in 2008 and last year. Building beyond the allowable height was the most common violation. On Tran Binh and [...]
Viet Nam Glass and Ceramics for Construction (Viglacera) has started construction of apartments for low-income earners in Ha Noi’s Gia Lam suburban district. The VND600 billion (US$31.2 million) project will include 10 12-storey blocks of apartments, covering an area of 3ha in Dang Xa residential area, 10km east of Ha Noi. Viglacera said it would [...]
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