Vietnam has become an attractive destination for many foreign investors, largely due to the country’s friendly policies encouraging FDI, its political stability, and strong economy, according to JLL Vietnam. The country has also been adopting initiatives to improve its transparency to the next level, according to JLL’s Global Real Estate Transparency Index. Vietnam remains one of the most-favored destinations for foreign investment in Southeast Asia. 2018 started off with the acquisition of Sun Wah office tower by Nomura Real Estate Development. According to their press release, Nomura acquired a 24 per cent stake in the Grade A office building in Ho Chi Minh City’s CBD. In the residential sector, CapitaLand announced the acquisition of a 0.9-ha development site in Hanoi’s Tay Ho district in March for approximately $29.78 million. Later, in the third quarter, CapitaLand then bought a 6-ha development site in Ho Chi Minh City’s District 2 for about … [Read more...] about JLL: Vietnam finding favor among foreign real estate investors
Hotel real estate
The increasingly improved and synchronised transport infrastructure, tourism potential, and abundant natural resources are all favourable conditions luring in big investors, especially in real estate, to Quang Ninh. Sun World Halong Park is the largest entertainment project in Quang Ninh Numerous real estate projects have changed the face of Quang Ninh in the last three years, such as Vinpearl Halong Bay Resort, Vincom Plaza Halong, Vinhomes Dragon Bay, Halong Marina, Green Bay Village, and New Life Tower Halong. The largest investor in Quang Ninh’s tourism real estate market is Sun Group with the 214-hectare, VND7.8-trillion ($343.4 million) Sun World Halong Complex which has already been put into operation. The group is also developing shophouses and five-star villas and resorts at Sun Premier Village Halong Bay. FLC Group is also present in Quang Ninh, with a project covering a total area of 224 hectares with a total investment of VND3.4 trillion ($150 million). This … [Read more...] about Quang Ninh real estate market draws in $5.5 billion investment
T&T Hospitality will provide a diverse range of hotel and resort products Through the launch of this hotel management brand, T&T Group is gradually completing the ecosystem in its real estate development chain, aiming to exploit and manage its international-standard professional real estate system. Carl Johan Lindholm, general director of T&T Hospitality T&T Hospitality operates from the perspective of a harmonious unit of interest for the investor and owner, from project formulation to completion to ensure that it meets international five-star standards. T&T Hospitality is not merely a consultancy, but also a quick strategist in maintaining the viability and profitability of real estate through the promotion of rental properties and the sale of residential properties and real estate resorts, said Johan Lindholm, general director of T&T Hospitality. The new arm aims to provide a diverse range of hotel and resort products, each of which has its … [Read more...] about T&T Group completing real estate chain with new hospitality arm
Real estate experts believe that selling condotels can bring huge profits to investors and savings in fees that apartment developers usually pay. The first condotels appeared in Vietnam several years ago and have been developing very rapidly since then. According to the Ministry of Construction (MOC), there are 148 ongoing condotel projects developed by 52 investors. It is expected that 27,000-29,000 condotels will be launched into the market in 2017-2019. Despite the existence of numerous products, condotels have not been recognized by the law. Condotels remain out of the management of state agencies. Many investors, when advertising condotels, give unclear information which does not coincide with the purpose of projects approved by state management agencies. This has led to misunderstandings among buyers not knowledgeable about the law. However, in the last six months, ministries and branches have urged to legalize condotels. At the same time, condotel developers have been … [Read more...] about Why do real estate developers want to legalize condotels?
Despite its failed businesses in the Vietnamese real estate market, Malaysia-based Berjaya Group has committed to invest more in Vietlott to help the firm achieve an annual turnover of VND13 trillion ($572.6 million) and reach a growth rate of 20 per cent per year. Berjaya aims to ensure that Vietlott's ticket sales will grow by 20 per cent per annum According to Vietnam Lottery Company's (Vietlott) development strategy to 2025 and vision to 2034, Berjaya Group will support the company to reach a turnover of VND117.478 trillion ($5.17 billion) in 2017-2025, equivalent to VND13 trillion ($572.6 million) per year. Additionally, in 2025-2034, the Malaysian partner will help Vietlott achieve a total turnover of VND258.513 trillion ($11.3 billion) and VND59.398 trillion ($2.6 billion) to pay to the state budget. On the other hand, despite the huge financial support, Berjaya is facing difficulties in the Vietnamese property market. In February last year, Berjaya decided to sell 70 … [Read more...] about Berjaya keeps investing into Vietlott despite ailing real estate operations