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[2009-07-13] Serviced apartments see vacancy increasing
Serviced apartments see vacancy increasing
(Listed Jul 13, 2009)
The serviced apartment sector in HCMC saw a double-digit decline in both occupancy and rents in the second quarter of this year and a further decline is projected in the months to come along with a fall in demand.Limited supply in the last three years has allowed the sector to enjoy good results with faculties often running with high occupancy. Grade A buildings ran up to 97% occupancy in the first quarter of thi... |
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[2009-07-13] House models of An Phu-Binh Khanh project introduced
House models of An Phu-Binh Khanh project introduced
(Listed Jul 13, 2009)
Nam Rach Chiec Co. Ltd., a consortium between Tien Phuoc, Tran Thai and Singapore's Keppel Land, has launched condo models for the resettlement project in An Phu and Binh Khanh wards in HCMC's District 2.The three models are designed like flats for middle-income earners in Singapore. Developers will complete interior decorations with standard domestic and imported building materials.The resettlement project will s... |
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[2009-07-13] Cities tries to avoid budget losses
Cities tries to avoid budget losses
(Listed Jul 13, 2009)
The HCM City People's Council is considering several measures to prevent the further delay of investment projects, which is causing huge losses to the city budget.Le Van Trung, a member of the council, said the delay of 66 projects had "caused a huge waste" to the budget.He said continuation of these projects would require an additional VND2.85 trillion (US$160 million).Progress had been impeded by the delays in site clearance, a ... |
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[2009-07-13] Developers put more sites on market
Developers put more sites on market
(Listed Jul 13, 2009)
With the property market showing signs of recovery, many developers in HCM City have begun launching their products in the market.The Phu My Hung Joint Venture Company, for instance, will put on sale some 290 high-end apartments of its Riverpark Residence Project in District 7 this month.Another major developer, Hoang Anh Gia Lai Group, will introduce apartments at its An Tien Apartment Project in District 7 next month, priced at... |
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[2009-07-11] New investment wave of second-home market in Vietnam
New investment wave of second-home market in Vietnam
(Listed Jul 11, 2009)
Second-home purchasing has become a new investment wave on Vietnam’s property market as new signs of life in the global economy herald forthcoming growth, said CB Richard Ellis International Property Consultancy Co. in a press release on July 9. Real estate developers have seen potential opportunities in an emerging market like Vietnam and they are paying great attention to the second-home market, which... |
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[2009-07-11] Road raising urban beauty along Sai Gon river to be built
Road raising urban beauty along Sai Gon river to be built
(Listed Jul 11, 2009)
Early July 9, Le Thanh Cung, Standing Vice Chairman of provincial People’s Committee had a working session with Binh Duong General Construction Consulting Joint Stock Co. and relevant agencies to hear the report on the project of building a road along the Sai Gon River at the section of Thuan An district. According to the consulting unit’s proposal, the work will stretch Vam Ba Lua to An Son, ... |
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[2009-07-11] Government moving to deter destruction of riceland
Government moving to deter destruction of riceland
(Listed Jul 11, 2009)
A draft decree circulated by the Ministry of Agriculture and Rural Development (MARD) would commit the Government to protect wet rice-growing land against arbitrary conversion into industrial parks and golf courses. To stop reckless conversion of land suitable for rice-growing to other uses, the draft decree stipulates that any proposed conversion of five hectares of riceland or more must be approved by the Pr... |
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[2009-07-11] Home improvement plan doomed to fail
Home improvement plan doomed to fail
(Listed Jul 11, 2009)
A plan to upgrade old residential buildings is likely to miss the 2015 deadline. The Ha Noi People’s Council plan to complete upgrades of old residential buildings by 2015 is likely to fail, according to Vu Ngoc Dam, a senior official of the city’s Department of Construction. Dam, head of the Housing Management and Development Section of the department, said that many project investors charged with making improvem... |
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[2009-07-11] Chinese property prices edge up in June
Chinese property prices edge up in June
(Listed Jul 11, 2009)
Property prices in China's 70 major cities climbed 0.2 percent in June, the first positive year-on-year growth since December 2008, the National Development and Reform Commission (NDRC) said on Friday.The month-on-month figure was also up 0.8 percent, with the growth rate 0.2 percentage points higher than in May, pointing to a further rebound in the property market.Thirty-four cities registered year-on-year increases in new resident... |
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[2009-07-11] Home improvement plan doomed to fail
Home improvement plan doomed to fail
(Listed Jul 11, 2009)
A plan to upgrade old residential buildings is likely to miss the 2015 deadline. The Ha Noi People’s Council plan to complete upgrades of old residential buildings by 2015 is likely to fail, according to Vu Ngoc Dam, a senior official of the city’s Department of Construction.Dam, head of the Housing Management and Development Section of the department, said that many project investors charged with making improvements to old... |
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[2009-07-10] New regulations on classification of urban areas
New regulations on classification of urban areas
(Listed Jul 10, 2009)
The Government issued a decree on the criteria for classifying and recognizing types of urban areas in the country.According to the decree, urban areas will be divided into six types, comprising the special urban area and urban areas ranking from No. 1 to No. 5.An urban area will be considered and classified based on its development results in the previous year of making the classification plan.The criteria for classificati... |
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[2009-07-10] Vietnam becomes more attractive to Malaysian investors
Vietnam becomes more attractive to Malaysian investors
(Listed Jul 10, 2009)
Vietnam has become a magnet for Malaysian building contractors who said there are huge opportunities to tap the market, a local daily reported.“ Vietnam has been a favourite destination for Malaysian builders, with companies like SP Setia Bhd and Gamuda Bhd already having a presence as they seek to grow profits amid a slowing home market,” the Business Times said.The paper said UEM Group Bhd has be... |
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[2009-07-10] 5,000 new houses for disadvantaged households
5,000 new houses for disadvantaged households
(Listed Jul 10, 2009)
The Capital City’s People’s Committee has begun a project to help disadvantaged households build new houses.By October 10, 2010 the city will have built 4,879 houses for the poor with a total capital investment of VND122 billion. This year, Hanoi should manage to build 3,846 houses.The minimum construction costs for each house will be VND25 million, financed by the state and city’s budget and the Fund for th... |
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[2009-07-10] National Assembly passes Law on Urban Planning
National Assembly passes Law on Urban Planning
(Listed Jul 10, 2009)
The Law on Urban Planning was passed by the National Assembly on June 17 and will take effect next January 1. The law provides for forms of planning (including general planning, regional planning and detailed planning), agencies involved in urban planning and planning procedures.The law requires plans to be amended when major factors alter the function or nature of urban areas, including changes in the general socio-economic ... |
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[2009-07-10] ACBR mulls over new property service
ACBR mulls over new property service
(Listed Jul 10, 2009)
ACB Real Estate Joint Stock Company (ACBR) is pondering a new property service called 'property repo' featuring financial support for individuals and investors who are in need of short term loans.Pham Van Hai, general director of ACBR, told the Daily that the so-called 'repo' service was formed from stock market ideas and that the local property market had potential for such a service.The term 'repo' represents a repossession of proper... |
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