Property

The Golden Field bulding is located in My Dinh urban area (Hanoi). Photo: Vnexpress MBLand paid a fine of VND40 million for putting the building into use without being checked fire prevention system. Previously, on April 17, Hanoi Fire Department’s inspection team checked MBLand’s building. Accordingly, the 30-floor building was only approved the fire prevention system design, but has not been granted the documents to confirm work acceptance. However, the investor has put the building into use despite its huge risk of fire explosion. In addition, the Golden Field building also has many fire prevention violations, including the uncompleted fire prevention system of the 1-7th floor trade and service area, 24-27th floors have no fire escapes as the approved fire prevention system design with one fire escape for each floor, and some positions have not been removed the fire alarms’ protective hoods. The building's trade and services floors have not been … [Read more...] about MBLand’s high end apartment building violates fire regulations

According to experts, Vietnam’s real estate market will continue to charm foreign investors thanks to high liquidity and alluring profit-making prospects. The ZEN Residence in Hanoi’s Hoang Mai district is grabbing particular attention from foreign investors The latest report by CBRE, a leading real estate advisory firm, showed that a total of 8,800 new condos were put on sale in Hanoi’s realty market over the first quarter this year, 6,600 units of which have already found buyers. CBRE also forecasted a 9-per cent jump in the volume of condos sold this year compared to 2017, reaching 28,000 units. The plentiful supply aims to keep up with current burgeoning market demand, particularly from the soaring number of city dwellers, most of whom are young people. In addition, young people in big cities like Hanoi often consider buying their own houses with their work savings or after getting married, leading to rising housing demand. Favoured options are apartment … [Read more...] about Hanoi’s condo market attracts flow of foreign capital

On April 20 Nam Long Group, one of the leading housing developers in Vietnam, announced Akari City, its fifth project to be built in cooperation with Japanese Hankyu Hanshin Properties Corp. and Nishi Nippon Railroad. Nam Long Group announces $341 million Akari township The Akari City township project is located in Binh Tan district of Ho Chi Minh City. The two Japanese investors and Nam Long group will have 50/50 joint contribution of the total investment of about VND7.676 trillion ($341 million). This will be one of Nam Long’s key projects in the next 3-5 years. According to Steven Chu Chee Kwang, CEO of Nam Long Investment Corporation, the company and the two Japanese partners are increasingly tightening relations to create not only homes but also a real estate system where properties for various purposes—commercial properties, schools, hospital, services, and entertainment, etc.—are developed synchronously, offering residential communities high-quality … [Read more...] about Nam Long Group announces $341 million Akari township

Owning numerous large-scale land plots may attract investors to Hanosimex for its listing on the Unlisted Public Company Market (UpCOM). Hanosimex's land plots may act as a counterpoint to the firm's average performance The Hanoi Stock Exchange has approved Hanoi Textile and Garment Joint Stock Corporation (Hanosimex) to list 20.5 million shares on UpCOM at the reference price of VND15,800. According to the plan, the listing will be conducted on April 19. Established in 1984, Hanosimex is a large-scale corporation within the yarn-textile-garments supply chain of Vinatex, with factories in Hanoi, Bac Ninh, Hung Yen, Ha Nam, Nghe An, and Ha Tinh provinces. In 2017, Hanosimex reported a revenue of VND2.36 trillion ($103.6 million), including VND1.65 trillion ($72.4 million) of revenue from the yarn segment and VND335 billion ($14.7 million) from the garment segment. VND1.58 trillion ($69.37 million–67.31 per cent) of its revenue came from exports, while VND771 billion … [Read more...] about Large land bank may lure investors to Hanosimex?

Leading multi-functional conglomerate Vingroup has recently acquired two projects from Malaysian Berjaya Corporation which have been delayed for a long time. Vinhomes, Vietnam's leading real estate management company and the property management arm of Vingroup, has completed the purchase of 97.7 per cent stake in Berjaya Vietnam International University Township One Member LLC from Malaysia’s Berjaya Corporation. This VND11.75 trillion ($515.6 million) deal aims to acquire the long-delayed Vietnam International University Township (VIUT) project. The road leading to the site of the ill-fated Vietnam International Berjaya University Township. Photo: Hong Son BerjayaVietnam International University Township One Member LLC is the investor of the long-delayed VIUT project. The project, which received its investment certificate in July 2008, is located at Tan Thoi Nhi commune in Hoc Mon district. It has an area of 925 hectares and investment capital of $3.5 billion. … [Read more...] about Vingroup acquires two mammoth projects from Berjaya

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

According to the Ministry of Transport, to facilitate urbanisation, ten ports located along the Saigon River will be removed. Ho Chi Minh City to remove 10 ports along the Saigon River The affected ports are Ba Son Shipping Plant, Nha Rong-Khanh Hoi Port, Tan Thuan 2, Bong Sen, special port for vegetables, Bien Dong Port, Tan Thuan Dong Port, Ben Nghe Port, Logistic Development JSC, and ELF Saigon. Tan Thuan Port, which is located at District 7, will be moved to Hiep Phuoc of Nha Be district in order to provide land area to build the fourth Thu Thiem Bridge. Hiep Phuoc Port will become the main port of Ho Chi Minh City after 2020. The port can receive 4,000 tonne ships and serve neighbouring industrial clusters. Nha Rong-Khanh Hoi port will be removed before December 31 this year. The land plot will be given to Fareast Pearl Urban Development Company to raise a multifunctional complex of high-rise buildings, trading centre, apartments, villas, primary and secondary schools, … [Read more...] about Ho Chi Minh City to remove ten ports along Saigon River, replaced by high rise buildings

Huynh Quang Khanh invests in real estate by leveraging credit. Seventy per cent of his investment comes from banks. He has borrowed VNĐ1 billion at an interest rate of 9.5 per cent from a bank in Tan Phu District and also asked some of his relatives to borrow on his behalf from that bank. Banks begin tightening screws on property credit, photo zing.vn Khanh, 54, of HCM City’s Tan Phu District, said he was told by the lender that the interest rate had been increased to 12 per cent. “I am looking to sell some of my land to reduce the loans because I am afraid the interest rates would continue to rise and I will be unable to afford,” he said. While Khanh complains about the increase in the rates, Nguyen Cong Tang of Thu Đuc District is unhappy that a bank refused to lend him 70 per cent of the value of a house he wants to buy. He said in the past the bank was always ready to lend him the money but now they are only willing to lend half. Market … [Read more...] about Banks begin tightening screws on property credit

In 2017, CapitaLand Vietnam achieved its highest ever home sales record, which accounted for 1,409 residential units, hitting the record sales of SGD459.6 million. The number was 63 per cent higher than last year’s record of SGD282.1 million. Cheers from team CapitaLand Vietnam, winner of 11 golden statuettes and commendations, including Best Developer (Vietnam) Vietnam is the third largest market of CapitaLand in Southeast Asia, after Singapore and Malaysia. At the end of December 2017, it was reported that the firm owned SGD948 million worth of gross assets in Vietnam. Their latest asset acquisition extends CapitaLand’s portfolio to 12 residential development projects, one integrated development, 21 serviced residences, including 4,700 units across six cities in the country. Speaking of the company’s winning qualities, Chen Lian Pang, CEO at CapitaLand Vietnam proudly said: “The PropertyGuru Vietnam Property Awards 2017 is a strong affirmation of our … [Read more...] about CapitaLand’s inspiring success story in the Vietnamese property sector

Hanoi authorities are planning to announce the list of apartment buildings violating fire prevention and fighting regulations, following a similar move in Ho Chi Minh City. Chairman Nguyen Duc Chung assigned tasks for local authorities At the Hanoi People’s Committee’s monthly meeting yesterday, Chairman Nguyen Duc Chung assigned the Hanoi Department of Construction and Fire Prevention Department to inspect Hanoi’s apartment buildings and compile a list of violators, asking them to effect repairs immediately. According to the survey of the Hanoi Fire Prevention Department, by May 31 last year, 79 out of a total of nearly 800 apartment buildings in Hanoi violated the fire code. The leading violators include Muong Thanh Group’s 11 buildings, followed by ACC Thang Long JSC’s Artemis Trade Centre in Thanh Xuan district, and Song Da Thang Long JSC’s CT1 Usilk City building in Hadong district. By October 2017, 21 buildings have managed to … [Read more...] about Hanoi decides to list buildings breaking the fire code