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[2010-05-08] METRO builds 11th wholesale center in country
METRO builds 11th wholesale center in country
(Listed May, 08, 2010)
METRO Cash & Carry today celebrated the ground breaking ceremony of its eleventh wholesale center in city of Quy Nhon, central province of Binh Dinh. The wholesale center, located in the downtown of the city, aims at professional customers in Binh Dinh Province and the growing tourism and services in the Vietnam’s central coastal region. Creating new jobs, increasing goods flows, developing infrastructure are some o... |
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[2010-05-08] Is it time to buy a house?
Is it time to buy a house?
(Listed May, 08, 2010)
Real estate developers want consumers to believe that it is the right time to purchase homes, but the public is still hesitant to buy because they believe that housing prices are still too high. Dang Hong Anh, Chair of Sacomreal, affirmed that, since early 2008, the real estate market has been quiet even though prices have been decreasing. The director of a big real estate company in HCM City noted that area land and house prices are now 20-40 ... |
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[2010-05-08] Hanoi office renters heading west
Hanoi office renters heading west
(Listed May, 08, 2010)
Businesses lease offices in the west of the city instead of the central areas, claming they are overcrowded and over priced. Though located far from the centre of the city, the western area has been attracting the attention of more and more businesses thanks to the reasonable leasing fee, high quality of offices and diversified choices. Pham Duc Toan, Director of EZ Vietnam, said that while the leasing fee in the central area could be... |
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[2010-05-04] $250 mln golf course tees off in southern province
$250 mln golf course tees off in southern province
(Listed May, 04, 2010)
A South Korean-Vietnamese joint venture last week inaugurated the first 18 holes of a US$250 million golf course and resort complex in Binh Duong Province near Ho Chi Minh City. The Twin Doves Golf Club & Resort is being developed by the Phu My Development Joint Stock Company, a partnership between South Korea's Electro Land Co Ltd and the Binh Duong Production Trading Company. The Korean side holds a 65 percent sta... |
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[2010-05-04] Real estate slump lengthens as buyers choose to wait
Real estate slump lengthens as buyers choose to wait
(Listed May, 04, 2010)
The local real estate market has been struggling for longer than expected as prospective home buyers opt to wait for prices to drop further, industry insiders say. They said high lending interest rates of up to 17-18 percent in recent months have discouraged many people from taking loans to buy houses. The slow recovery of the market is in fact a surprise as analysts had predicted a rebound this year after a decline ... |
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[2010-05-04] Exports to ease cement surplus
Exports to ease cement surplus
(Listed May, 04, 2010)
Plans by cement producers to ease a surplus in the domestic market by ramping up exports of cement may be difficult to carry out, according to several experts from the sector. General director of the Cement Finance Company (CFC) Bui Hong Minh said that while expanding exports might in part help ease the cement surplus, securing new markets for Vietnamese cement would be a difficult task. "Exporters have to pay considerable costs for inte... |
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[2010-05-03] China considers US style property tax on luxury real estate in select cities
China considers US style property tax on luxury real estate in select cities
(Listed May, 03, 2010)
China is considering introducing new or higher taxes on real estate, especially higher end projects and possibly even a US style property tax, in a bid to curb escalating prices. It is thought the new those buying multiple properties, luxury real estate and in select cities where price growth is deemed to be out of hand. ‘The main purpose of such a tax would be to dampen speculative demand... |
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[2010-05-03] Foreign investors going local
Foreign investors going local
(Listed May, 03, 2010)
They are taking advantage of a legal gap. At present, the Vietnamese government is still embarrassed to control the method of selling houses on paper. Increasing numbers of foreign developers are mobilising funds within Vietnam to develop real estate investment projects instead of raising funds overseas. Nguyen Mai, chairman of Vietnam’s Association of Foreign Invested Enterprises, said many foreign investors mobilised funds inside Vie... |
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[2010-05-03] A prime move into building materials sector
A prime move into building materials sector
(Listed May, 03, 2010)
VinaCapital last week announced Vietnam Opportunities Fund’s $15 million investment into Prime Group, a leading local construction material producer. VinaCapital chief executive officer Don Lam talks with VIR about the deal as part of its expanding business strategy.
What are the main reasons behind VinaCapital’s investment in Prime Group?
Our investment in a company is basically made after taking into accoun... |
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[2010-05-03] First Co.opMart Sai Gon supermarket opens in Hanoi
First Co.opMart Sai Gon supermarket opens in Hanoi
(Listed May, 03, 2010)
The Co.opMart Saigon supermarket was inaugurated in Ha Dong district, Hanoi yesterday. This is the first Co.opMart Saigon in Hanoi and the 44th supermarket in the Co.op Mart supermarket chain nationwide. On an area of 7,500 square metres, the supermarket has a total investment of VND 74 billion, selling over 20,000 items of goods. 90% of which is domestically manufactured goods. General Director of the Ho Chi Minh City... |
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[2010-05-03] New super-mall opens in HCM City
New super-mall opens in HCM City
(Listed May, 03, 2010)
Another giant shopping mall opens today in Ho Chi Minh City, the country’s southern economic and commercial hub. The Vincom Center Shopping Mall includes seven stories of retail shops, fashion boutiques, household appliance and home décor stores, entertainment venues and restaurants. The mall is also home to 17 stories of offices for rent and five levels of serviced apartments at the top. The mall features a bank and a movie ... |
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[2010-04-29] Property prices in Turkey starting to increase but some locations still falling
Property prices in Turkey starting to increase but some locations still falling
(Listed Apr, 29, 2010)
Residential property prices in Turkey are slowly edging upwards although some locations have not yet reached the bottom of the market, the latest real estate figures to be published show. According to the latest monthly REIDIN Turkey Residential Property Price Index which is regarded as the most reliable and consistent benchmark of housing prices in Turkey, prices increased 0.26% in Adana, 0.... |
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[2010-04-29] Stimulus withdrawal a worry for property sector
Stimulus withdrawal a worry for property sector
(Listed Apr, 29, 2010)
The way governments wind back stimulus measures poses a key risk to the region's real estate markets, according to a Citibank executive on Tuesday. Mr Aamir Rahim, chief executive of Citi Private Bank Asia Pacific, told a briefing: 'The impact of such liquidity withdrawal on interest rates and the speed of private sector capital deployment to pick up the slack produced by such withdrawal measures obviously are the overridin... |
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[2010-04-29] Foreign firms dominate property consulting service
Foreign firms dominate property consulting service
(Listed Apr, 29, 2010)
Foreign companies like CB Richard Ellis Vietnam (CBRE Vietnam), Savills Vietnam, and Colliers have a 90 percent market share of the realty consulting industry in Vietnam. They have recently been joined by one more foreign player, the UK-based Knight Frank, which opened its first commercial and residential property office in Hanoi. CBRE Vietnam entered the market nine years ago while Savills and Colliers have been here fo... |
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[2010-04-28] Massive increase in real estate sales in Kuwait
Massive increase in real estate sales in Kuwait
(Listed Apr, 28, 2010)
Residential real estate sales in Kuwait increased 194% in March compared to a year ago with the market overall recording 130% growth, according to the latest official figures. A high turnover in residential and investment property meant that sales in the Gulf Arab state rose to 205.83 million dinars ($714.6 million) from 89.35 million dinars in March 2009, the data also showed. The statistics were a surprise as in Februar... |
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