The Hanoitimes – Interest of foreign investors in the country’s real estate is rising significantly with the market seeing more large-sized projects underway in recent months. During a recent working session with Ho Chi Minh City’s leaders, CEO of Lotte Asset Development Lee Kwang Young released plans to start construction of a smart complex in the Thu Thiem new urban area in the city’s District 2. The smart complex, covering 7.54 hectares, is set to cost VND20.1 trillion (US$885.5 million), excluding compensation and site clearance expenses. Vietnam expects to attract foreign investors in all sectors of the property market Also in Thu Thiem, Empire City project is under implementation with an investment capital of $1.2 billion. The project is developed by a 50/50 joint venture between two Vietnamese companies – Tien Phuoc Real Estate JSC and Tran Thai Real Estate Co Ltd, and one foreign partner – Denver Power Ltd. South Korea’s Daewon Thu Duc House last month also decided to take part in a wave of foreign-backed developers investing in Vietnam’s property market. It established a joint venture with the Vietnam Manufacturing and Export Processing Company to develop a $115 million office complex and trading center, along with high-rise apartment… Read full this story
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