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[2009-07-16] HCMC to get tough in revoking unused public land

HCMC to get tough in revoking unused public land (Listed Jul 16, 2009) Ho Chi Minh City on Tuesday promised to take immediate and strict measures against the waste and misuse of land owned by state-owned companies, especially those that have been unused or leased out illegally.“There has been a huge waste in using public assets while the revocation process of these lands has been too slow,” said Nguyen Minh Hoang, a HCMC People’s Council deputy.Hoang, former chairman of the c...
[2009-07-15] Sayonara to $250m Japanese hotel project

Sayonara to $250m Japanese hotel project (Listed Jul 15, 2009) The Japanese investors behind a $250 million hotel in Hanoi have been given permission to back out.The investors of the Lotus hotel have received permission from the Hanoi People’s Committee to withdraw from the project, claiming difficulties in raising financial resources to develop it, according to a company source. The Lotus hotel was given an investment certificate two years ago to be opened in 2010 to cerebrate the 1,000...
[2009-07-15] Real estate market report (July 3th, 2009 – July 9th, 2009) Demands on the property

Real estate market report (July 3th, 2009 – July 9th, 2009) Demands on the property market are still high (Listed Jul 15, 2009) According to some companies specializing in researching property market, demands on this market are still high. However, at present, economic downturn and “wait and see” psychology of customers hasn’t been really exciting yet.In the first 6 months of this year in HCM City, there are only about 5,000 sold apartments from 31 projects. Almost pro...
[2009-07-15] Big C opens shopping center in central town

Big C opens shopping center in central town (Listed Jul 15, 2009) French retailer Big C on Monday opened a shopping center in Hue Town in central Vietnam.Big C’s latest VND300 billion (US$16.8 million) market is located at the newly-opened Phong Phu Plaza commercial center.The four-story Big C Hue has leasing areas for domestic and global branded shops and a self-service supermarket with 95-percent domestic products. First appearing in Vietnam in 1998, the French retail chain now has e...
[2009-07-15] New Dong Nai Bridge project allows dispersed resettlement

New Dong Nai Bridge project allows dispersed resettlement (Listed Jul 15, 2009) Deputy Prime Minister Hoang Trung Hai just concluded to fasten progress of new Dong Nai bridge construction in order to curb traffic jam and accidents in the area.Mr. Hai also agreed with the form of dispersed resettlement for those who had no need for mass resettlement. For quick implementation, Ministry of Transport must define safety road corridor in Highway 1A and the areas where compensation had been done unde...
[2009-07-15] Resort breaks ground in Ho Tram Strip project

Resort breaks ground in Ho Tram Strip project (Listed Jul 15, 2009) Ho Tram Project Company on Saturday began construction of the MGM Grand, the first of five luxury resorts planned for the Ho Tram Strip complex in the southern coastal beach resort province of Ba Ria-Vung Tau.The company, a wholly-owned subsidiary of Canada-based developer Asian Coast Development Ltd., said it also began planting trees for landscaping.Phase one of the US$4.2-billion project is scheduled to open in early 2012.S...
[2009-07-14] First international real estate exhibition to be held in HCM City

First international real estate exhibition to be held in HCM City (Listed Jul 13, 2009) The International Real Estate Exhibition 2009 will take place in Ho Chi Minh City from September 20-24. The exhibition is held for the first time in Vietnam by the Real Estate Association, in collaboration with the Housing Management Department of the Ministry of Construction and the Foreign Investment Agency of the Ministry of Planning and Investment. Real estate enterprises, both domestic and in...
[2009-07-14] 200 houses to be built for senior officials

200 houses to be built for senior officials (Listed Jul 13, 2009)   The Ministry of Construction will build over 200 houses in Hanoi and HCM City for senior officials who don’t have official residences yet, said a ministry official. Housing Management Agency’s chief Nguyen Manh Ha said that the Construction Ministry asked Hanoi and HCM City to introduce some sites suitable for the building of these houses. The sites must be over 2 hectares in area. Nam said that many ...
[2009-07-14] Million-dollar apartments still selling well

Million-dollar apartments still selling well (Listed Jul 13, 2009) While the market of high-grade offices for lease has been cooling down because of the economic downturn, the market of resort apartments worth millions of dollars is still very bustling. Several years ago, the concept of ‘resort apartment’ and the resort apartment market were unfamiliar to investors. Nowadays, these ‘second homes’ for the wealthy are common items in the ‘baskets’ of...
[2009-07-14] Hanoi real estate market witnessing virtual waves

Hanoi real estate market witnessing virtual waves (Listed Jul 13, 2009) In order to sell land and houses, speculators have created a lot of ‘artificial price fevers’ to urge people to rush to buy real estate for fear that the prices would increase further. Real estate prices pushed up in accordance with ‘virtual demand’ Real estate prices in Hanoi have been staying firm, which has led to decreases in successful transactions on real estate trading floors. Meanw...
[2009-07-14] ‘Better than Bali’: investors stake claim to Da Nang beach

‘Better than Bali’: investors stake claim to Da Nang beach (Listed Jul 13, 2009)   Investors are lining up for a piece of Da Nang beach, which industry players say could become a tourism hotspot to rival Bali or Phuket. Stretching about 30 kilometers (19 miles) from the mountain-fringed central city of Da Nang to the heritage town of Hoi An, the white sand beach – known locally as a series of several different beaches like Non Nuoc and My Khe – has been ...
[2009-07-14] ‘Better than Bali’: investors stake claim to Da Nang beach

‘Better than Bali’: investors stake claim to Da Nang beach (Listed Jul 13, 2009) Investors are lining up for a piece of Da Nang beach, which industry players say could become a tourism hotspot to rival Bali or Phuket. Stretching about 30 kilometers (19 miles) from the mountain-fringed central city of Da Nang to the heritage town of Hoi An, the white sand beach – known locally as a series of several different beaches like Non Nuoc and My Khe – has been relati...
[2009-07-13] Construction work begins on Cai Cui port in Can Tho

Construction work begins on Cai Cui port in Can Tho (Listed Jul 13, 2009) Prime Minister Nguyen Tan Dung on July 11 inaugurated the second phase of the Cai Cui seaport project in Can Tho city, emphasizing its important role in the socio-economic development of the Mekong Delta.Mr Dung said at the groundbreaking ceremony that once fully operational, the port will slash transportation costs in the Mekong delta and mitigate the overload of Saigon port.The second phase of the projec...
[2009-07-13] Construction sector urged to diversify

Construction sector urged to diversify (Listed Jul 13, 2009) The construction industry should strengthen investment management and further diversify investment forms in order to gain better results in the second half of this year, a senior official said last Friday.At a meeting held to review the industry's performance in the first half of the year and set tasks for the second half. Minister of Construction Nguyen Hong Quan asked relevant agencies to focus on solving difficultie...
[2009-07-13] Retail space rents projected to soften

Retail space rents projected to soften (Listed Jul 13, 2009) Unlike the office space segment, which is witnessing an oversupply market that is putting pressure on developers to slash rents to balance their business, the retail space sector in HCMC has enjoyed good business thanks to limited supply for years.However, the segment is projected to be more balanced in terms of supply, demand and rents, especially in outlying districts of the city which will soften as supply increases...
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