Vietnam property remains attractive to investors By Dinh Dung - The Saigon Times Daily HCMC - Vietnam is still a potential destination market for foreign investors, though the country, like other neighboring markets, saw trading activities subdued during the past six months, according a regional research released by CB Richard Ellis Vietnam (CBRE) last week. Marc Townsend, managing director of CBRE, said Vietnam was slowly becoming a regional player, evidenced by international funds who have established presence here and are very comfortable operating in the market. “As the established investors in Vietnam are still doing deals, investors from outside the region will continue to cast an eye over the opportunities,” Townsend said, adding that foreign investors began to look beyond the traditional, developed, investment markets for investment opportunities in countries in the Asia Pacific region. The market research company, however, said that bank lending for real estate … [Read more...] about Vietnam property remains attractive to investors
Vietnam property news
Vietnam Property Giant Posts Profit of VND765 Bln in 2008 The Vietnamese giant property developer, Hoang Anh Gia Lai Corporation (HAGL), announced its audited business results, with net profit of VND765.3 billion (US$45.1 million) and revenues up 18.6 per cent to VND1.9 trillion last year. The company’s total assets reached VND8.87 trillion by the end of 2008, an increase of 40 per cent from the beginning of the year. It had VND3.7 trillion in equity, including 1.6 trillion in share capital surplus. The Ho Chi Minh Stock Exchange-listed HAGL targets to obtain pretax profit of VND1.1 trillion in 2009, its chairman Doan Nguyen Duc revealed. The company has recently received a green light to establish a joint venture firm, which has a total capital of US$20 million in which HAGL contributes 80 per cent, to build apartments, luxury hotels and plant rubber in Laos. Hoang Anh Gia Lai shares, with EPS of VND3,923 in 2008, closed down at VND54,000 Wednesday, up 12.5 per cent from its … [Read more...] about Vietnam Property Giant Posts Profit of VND765 Bln in 2008
The stagnant property market is showing signs of livening up with major transactions taking place after many years. Ho Chi Minh City-based property corporation Novaland announced late February it is taking over three apartment buildings, Lexington Residence in District 2 and Icon 56 and Galaxy 9 in District 4, which together have an investment of around VND3 trillion (US$142.5 million). It has resumed sales of the apartments at prices 20-40 percent lower than nearby projects -- around VND22 million a square meter for Lexington and VND38 million for Icon 56. Developers with deep pockets are grabbing the opportunity to control the property market by buying projects and reselling them at cheaper prices. The city-based Thanh Nien Corporation, for instance, has bought 85 percent of a well-located project including a high-rise on Ham Nghi Street in the city center from Seaprodex Saigon, Nguyen Van Liem, general director of the former, said. Several projects under construction by leading … [Read more...] about Vietnam property market sees activity as prices fall
1. Vietnam’s property market recovers The Vietnamese real estate market has recovered after a four-year-long freeze, with construction on new projects starting in big cities and sales volumes rising significantly. Home sales in Hanoi jumped 80 percent in the first 11 months of this year to 17,750 units compared with a year earlier, and Ho Chi Minh City’s sales rose 90 percent to 17,050 units, according to government data. Improving economic conditions and lower lending rates have spurred the sales, analysts say. Prices of Ho Chi Minh City apartments have increased 12 percent in the third quarter from a year ago, and Hanoi has risen 3 percent, according to Jones Lang LaSalle Vietnam. The third quarter also saw a revival of some long-delayed projects, which new developers have taken over and revitalized by providing more finance or redesigning unit layout, size or mix, CBRE Vietnam said in a report. "What matters is that we need to control the market so it will not become … [Read more...] about 9 biggest property news stories of the year
VietNamNet Bridge - After Mr. Pham Nhat Vuong, the following names are said to be the most outstanding candidates for the second dollar billionaire of Vietnam. relate news First Vietnamese billionaire on Forbes list Vietnamese-American billionaire among 1,000 richest people in the world Special heirs in Vietnam 300 billionaires group as Vietnamese super-rich On September 17, Wealth-X and UBS (Swiss Bank) released the report "Billionaire Census 2014". In particular, Vietnam has two billionaires with total assets of approximately $3 billion. One of the two names is confirmed to be Mr. Pham Nhat Vuong, Vingroup chairman, who was included in the list of Forbes billionaires for two consecutive … [Read more...] about Who is the second-ranked dollar billionaire in Vietnam?