The HCMC Real Estate Association has called on the HCMC authorities to release the list of 124 property projects that were previously suspended for investigations and inspections and have now resumed construction. Le Hoang Chau, chairman of the HCMC Real Estate Association (HoREA), points out his concerns over stalled projects in the city – PHOTO: NLD Held by the city government, the conference was aimed at canvassing opinions from local property firms and finding ways to resolve their complaints. Over 100 business representatives took part in the event chaired by the municipal Party chief, Nguyen Thien Nhan. City officials and those in the central Government inspected more than 150 local property projects, approving 124 for resumption, according to HoREA Chairman Le Hoang Chau. He noted this was good news for project investors and their clients and was also a positive sign for the local real estate sector. However, enterprises and residents have yet to access the project … [Read more...] about HCMC Real Estate Association wants list of 124 resumed property projects released
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Whether to allow real estate firms to issue bonds in the international market remains a controversial issue. At the working session of the National Assembly Steering Committee which discussed the amendment of the Securities Law, one of the hottest topics for discussion was the tentative regulation on the issuance of bonds by non-public companies. If Vietnam’s debts increase, its credit rating will decrease. If so, it will be more difficult for Vietnam to borrow money from foreign sources, or it will have to pay higher interest rates. This will create general losses to all Vietnamese businesses as well as the entire economy. "One must calculate the ability of the nation to pay debts based on GDP growth and domestic debts and determine the national debt limit,” he said. When making non-public offerings, investors have the responsibility of learning about information and have to incur risks. Issuers have the responsibility of providing sufficient information to these … [Read more...] about Will VN real estate firms issue international bonds?
Ecological urban areas will help satisfy the needs for green living for new generations of residents. These areas near HCM City are sparking a new wave of real estate investments. Bien Hoa City in Dong Nai province is called a ‘rising star’ as real estate firms, foreign and domestic, have poured trillions of dong into eco urban area projects there. The projects are expected to change the face of the entire region, creating a new urban area, helping relieve population pressure in HCM City. Bien Hoa, thanks to its geographical position and natural conditions, is suitable for eco urban areas. Located in the eastern gateway to HCM City, Bien Hoa has the best transportation system in the Southeast region. It includes the Belt Road No 2, HCM City - Long Thanh - Dau Giay Expressway, subway No 1, National Highway 51, and Cai Mep - Thi Vai and Cat Lai deep-water ports. In the future, once the Belt Road No 3, Bien Hoa-Vung Tau railway, Cat Lai bridge that connects Nhon Trach with … [Read more...] about Eco-urban areas to lead real estate market in near future
Police in Ho Chi Minh City on September 18 arrested chairman and director of Alibaba real estate company for fraud. Police work with Alibaba's chairman Nguyen Thai Luyen at the company's headquarters on Kha Van Can Street in Ho Chi Minh City's Thu Duc District. Alibaba's chairman Nguyen Thai Luyen, and director Nguyen Thai Linh who is Luyen’s younger brother were both detained as hundreds of police carried out a raid at the company's headquarters on Kha Van Can Street in Ho Chi Minh City's Thu Duc District. Luyen and Linh will be prosecuted for fraudulently appropriating property. Alibaba was established in May 2016 with four people and chartered capital of VND100 million (USD4,347), according to the company’s website. Nguyen Thai Luyen contributed 80% of the charter capital. Nguyen Thai Linh and Nguyen Thai Cuc, brothers of Luyen, are shareholders. The real estate company and over 20 of its subsidiaries are accused of fraudulently offering for sale thousands of … [Read more...] about HCMC-based Alibaba real estate company leaders arrested for fraud
Suspended ventures due to lack of administrative procedures are instigating a severe shortage of supply and sharp increase of prices of the property market in Ho Chi Minh City, as well as in outskirt areas. The government is being urged to provide more affordable housing and Ho Chi Minh City is looking to push forward stalled accommodation projects One such couple from the central province of Thanh Hoa, Mai Anh and Nguyen Manh, have had to ditch their plan to buy an apartment to resettle. Instead, they continue to lease a small flat in District 4 at a rental of VND5 million ($215) per month. “We have saved around VND600 million ($26,000) after four years of living in Ho Chi Minh City and wanted to buy a small flat in the outskirts, which were selling at VND1.2 billion ($52,000),” Manh said. “However due to the shortage of supply, what we were looking for increased to more than VND1.6 billion ($70,000) and much over our budget. Thus we have to temporary … [Read more...] about Limited supply causing price hikes around HCM City