Japanese investors are increasingly attracted to the Vietnamese real estate market For the past year, many Japanese investors have co-ordinated with Vietnamese counterparts to develop property projects in the country. The largest project to come from Japanese investment so far, Sumitomo and BRG Group are expected to start construction of a $4.2 billion smart city in Hanoi this year. Elsewhere, Mitsubishi has also co-operated with Vietnamese property developer Bitexco to create 240 low-rise housing units and two high-rise condominiums out of a proposed total of more than 1,000 low-rises and 17 high-rises at The Manor Central Park project, also located in the capital. Mitsubishi has recently decided to pour a total of around $500 million to develop a range of projects developed by domestic Phuc Khang Group. “Major cities like Hanoi and Ho Chi Minh City have high population density and large-scale economies, while the housing supply still limited. The improving … [Read more...] about Japanese investors flock to real estate
Real estate crm for mac
Powerful M&A drive in real estate
By Khanh Nguyen - Senior associate director, Capital Markets, JLL Vietnam Vietnam has become an attractive destination for many foreign investors largely due to the country’s policies encouraging foreign direct investment (FDI), its political stability, and strong economy. Furthermore, the country has been taking the initiative to improve its transparency, according to JLL’s Global Real Estate Transparency Index. Vietnam remains one of the most favoured destinations for foreign investment in Southeast Asia. Singapore’s CapitaLand recently agreed to buy a controlling stake in developer Ascendas-Singbridge in a deal which would value the target company at S$11 billion ($8.13 billion). Last August, private equity firm Actis acquired Standard Chartered’s principal finance real estate business in Asia. In the Vietnamese real estate market, 2018 started off with the acquisition of Sunwah office tower by Nomura Real Estate Development Co., Ltd. According to a press … [Read more...] about Powerful M&A drive in real estate
Real estate tycoon and Ho Chi Minh City officials arrested
Business woman Duong Thi Bach Diep and four officials of the Ho Chi Minh City People's Committee have just been started legal proceedings against for their alleged involvement in dubious real estate projects in the city and hoarding a great debt towards Agribank. The Owner of Diep Bach Duong Real Estate, Duong Thi Bach Diep In a statement issued by the Ministry of Public Security, business woman Duong Thi Bach Diep, director of Diep Bach Duong Real Estate Co., Ltd., was prosecuted for "fraudulent appropriation of property." In addition, former deputy chairman of the Ho Chi Minh City People's Committee Nguyen Thanh Tai and three other officials were also prosecuted for "offences against regulations on the management and use of State-owned property that lead to losses or wastefulness." Duong Thi Bach Diep became known in the real estate sector by receiving many "golden" land plots in the centre of Ho Chi Minh City. In particular, she became the first person to own the … [Read more...] about Real estate tycoon and Ho Chi Minh City officials arrested
Real estate poised for positive 2019
Vietnam continues its rapid development with a slew of new property types springing up in recent years, Photo: Le Toan According to the Foreign Investment Agency under the Ministry of Planning and Investment, real estate business ranked second in size since early this year, with total registered capital of $6.5 billion in 87 new registered projects. “With foreign direct investment (FDI) being funneled into the real estate sector, Vietnam remains an attractive destination for real estate investment in 2019 and beyond. It is because the demand for residential real estate, industrial zone infrastructure, trade centres, and resort real estate remains high,” said Nguyen Tran Nam, chairman of the Vietnam Real Estate Association. According to the country’s housing development strategy, the average housing area of the nation will reach 25 square metres per capita by 2020. To achieve this goal, 100 million sq.m of new housing will be built each year, 70 per cent of which … [Read more...] about Real estate poised for positive 2019
Vietnam hosts International Real Estate Conference for the first time
The International Real Estate Conference (IREC) 2018 expects to welcome more than 300 international representatives and nearly 1,000 participants from the country. The August 15 press conference of IREC 2018 This is the first time that the Vietnam National Real Estate Association and the US National Association of Realtors agreed to organise IREC 2018 in Vietnam. The conference was held in the Philippines in 2015, South Korea in 2016, and Thailand in 2017. IREC 2018 is taking place between September 5 and 7 at the National Convention Centre in Hanoi with the theme “Vietnam—A world of opportunities.” In addition to Chairman of the Hanoi People’s Committee Nguyen Duc Chung, Minister of Construction Pham Hong Ha, US Ambassador to Vietnam Dan Kritenbrink, and Chairman of the US National Association of Realtor Vince Malta, and leaders of the government will also attend and speak at the conference. The conference is a good chance for state authorities, … [Read more...] about Vietnam hosts International Real Estate Conference for the first time