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[2010-06-25] Vietnam’s largest steel plant raises capital to $4.5 billion
Vietnam’s largest steel plant raises capital to $4.5 billion
Listed Jun, 25, 2010)
The Ministry of Industry and Trade has allowed Taiwanese-invested Guang Lian Steel Vietnam Company Ltd to increase the capacity of the Guang Lian steel mill in the Dung Quat Economic Zone in Quang Ngai province from 5 to 7 million tons per year, with total investment capital rising from $3 to $4.5 billion. This is the third time the plant’s capacity and capital has been raised since it was licenced i... |
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[2010-06-24] Gulf of Mexico oil spill could affect real estate market throughout the US
Gulf of Mexico oil spill could affect real estate market throughout the US
Listed Jun, 24, 2010)
The BP Oil Spill is an environmental disaster and a serious blow to businesses and property owners along the Gulf Coast, particularly in Florida, it is claimed.People planning to build family properties in Florida are beginning to reconsider as the massive oil slick spreads across the Gulf of Mexico. It is a serious blow to the state’s hard hit real estate industry which has been showing sign... |
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[2010-06-24] Construction department says small apartments unsuitable
Construction department says small apartments unsuitable
Listed Jun, 24, 2010)
The HCMC Department of Construction has finally raised its voice over a controversy surrounding a petition to build 20-square-meter apartments, saying that such small-sized apartment development will violate current regulation and go against the city’s housing policy.The move comes as Dat Lanh Real Estate Company in late April introduced a model apartment as small as 20 square meters at its condo project named... |
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[2010-06-24] Steel prices decrease amid construction season
Steel prices decrease amid construction season
Listed Jun, 24, 2010)
The steel price has dropped by three million dong per ton from its zenith in April 2010. Still, purchasing power remains very low, even though the construction season has begun.Since the beginning of June 2010, the Vietnam Steel Association (VSA) has twice received notices on steel price reductions from its member companies. The steel mills have cut prices by 300,000-600,000 dong per ton to 11.71-13.15 million dong per ton. V... |
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[2010-06-23] Low-cost apartments selling slowly
Low-cost apartments selling slowly
Listed Jun, 23, 2010)
The real estate market remains gloomy, which explains why even low-cost apartments are selling very slowly at this moment. Most of real estate developers now have shifted to developing low-cost apartment projects, because they believe that low-cost apartments will sell better than high-end apartments. Analysts also said that the demand for low-cost apartments is higher than the demand for luxury products. However, contrary to all predic... |
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[2010-06-23] Deposit interest rates expected to go down in the coming months
Deposit interest rates expected to go down in the coming months
Listed Jun, 23, 2010)
Commercial banks are still paying high rates at 11.5 percent per annum for dong deposits, but bankers said interest rates will go down in several months. Viet A Bank, which once raised the deposit interest rate to a very high level, at 11.8 percent per annum, has lowered the interest rate after the State Bank of Vietnam threatened to inspect banks peddling overly high interest rates. The bank is now offering ... |
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[2010-06-23] Construction of the first overhead road starts in capital
Construction of the first overhead road starts in capital
Listed Jun, 23, 2010)
Construction of the Hanoi’s first overhead road, which will extend from north of Linh Dam Lake to the Thanh Xuan intersection, officially got underway on June 22, said the Thang Long Project Management Board. The lake is in Hoang Mai District, while Thanh Xuan is in Thanh Xuan District. The 3.3 - kilometer section of road is expected to be completed by the end of the year, with a total capital of VND1.3 tril... |
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[2010-06-23] Workshop: property developers embrace city’s developing inner areas
Workshop: property developers embrace city’s developing inner areas
Listed Jun, 23, 2010)
Investing into apartment projects in developing inner areas in Ho Chi Minh City is a clear trend in the real estate market here, heard a workshop in the city Tuesday. Participants at the seminar shared an idea that it is an inevitable tendency since living far away from the workplace is inconvenient. The city’s developing inner areas comprise districts Thu Duc, Binh Tan, Tan Phu, 2, 7, 9 and 1... |
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[2010-06-22] Heat is on land use violations
Heat is on land use violations
Listed Jun, 22, 2010)
The crackdown on the misuse of public land will intensify this year. “All land misused will be reclaimed. The responsibilities of organisations, ministries, enterprises and individuals for misusing public land will continue to be made clear. Those who seriously violate land use regulations will be prosecuted,” said Pham Khoi Nguyen, Minister of Natural Resources and Environment (MoNRE). “Between now and the year’s end... |
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[2010-06-22] New investor sought for $4 bln eco-tourism project
New investor sought for $4 bln eco-tourism project
Listed Jun, 22, 2010)
Quang Nam Province will revoke the license for a US$4.15 billion eco-tourism project and look for a new investor, a report said Friday. The Dragon Beach, approved in 2009, was considered the largest foreign invested project in the Central and Central Highlands regions. Le Tri Nam, a senior official in charge of foreign investment promotion in the province, said the authorities had provided favorable conditions for the tw... |
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[2010-06-22] Developers in Singapore holding off launching new property projects
Developers in Singapore holding off launching new property projects
Listed Jun, 22, 2010)
There are signs that the real estate market in Singapore is slowing with the latest figures showing that developers sold just 1,078 private homes in May, about half the 2,208 units they transacted in April. There is unlikely to be many new projects coming on the market as developers take stock, according to analysts. But they are not overly worried by the figures as the first few months of 2010 have been ... |
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[2010-06-22] New home costs beyond reach of Hochiminions
New home costs beyond reach of Hochiminions
Listed Jun, 22, 2010)
Houses and apartments in Ho Chi Minh City have become so expensive that people must scrimp and save for ten years to afford them, according to Saigon Tiep Thi newspaper. Nguyen Hoang Hai is a communication worker for a foreign company in HCM City. Though the young native of Ben Tre earns seven million dong a month, he can’t yet afford to buy a house for himself in the southern metropolis. Hai can save two million dong a m... |
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[2010-06-19] Government to invest $241 mil in student accommodation
Government to invest $241 mil in student accommodation
Listed Jun, 19, 2010)
The Government plans to invest VND8 trillion (US$421 million) raised from its bonds to provide accommodation for about 200,000 students from 2009-10. It plans to spend VND6 trillion ($315 million) for student accommodation each year during the period 2011-15. The student-accommodation programme is intended to meet 60 per cent of demand by 2015. Funds for student accommodation is mostly drawn from the State budget and ... |
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[2010-06-19] Vung Tau attracts retail developers
Vung Tau attracts retail developers
Listed Jun, 19, 2010)
Real estate developers nowadays are eyeing the sea city of Vung Tau, injecting money to develop big supermarkets and trade centre projects. Thinh Vuong Investment Company recently kicked off the Lam Son Square trade centre project in the center of Vung Tau. The project, capitalized at hundreds of billions of dong, covers an area of 5000 square metres. When it becomes operational in April 2011, there will be 21,200 square metres of ret... |
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[2010-06-19] Land market in west Hanoi cooling down
Land market in west Hanoi cooling down
Listed Jun, 19, 2010)
A large number of advertisements selling land have appeared in recent days in newspapers. Analysts said that speculators have been trying to bargain land away over the last two weeks. According to Lao dong newspaper, the price of apartments in the west of Hanoi remains stable, but the price of land in the area has been decreasing daily. Pham Van Bang, an officer of the real estate brokerage office on Nguyen Chi Thanh street, said th... |
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