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[2010-04-28] Prudential investment arm to invest in villa project
Prudential investment arm to invest in villa project
(Listed Apr, 28, 2010)
Prudential Vietnam Fund Management Co signed Tuesday a deal with Khu Dong Investment and Real Estate Trading Co to become a joint investor of the VND2.5 trillion (US$132 million) Villa Park project in Ho Chi Minh City’s District 9. The investment arm of the UK-based Prudential Insurance will bring in 45 percent, or VND1.25 trillion, and Khang Dien Housing Joint Stock Co, Khu Dong’s parent company, the res... |
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[2010-04-28] Interdisciplinary inspectors check southern steel prices
Interdisciplinary inspectors check southern steel prices
(Listed Apr, 28, 2010)
Interdisciplinary inspectors of the Ministry of Finance and the Ministry of Industry and Trade and the Vietnam Steel Association will check the production costs and the selling prices of steel products at some of the largest steel producers in the southern region, according to the Vietnam Steel Association. Association vice chairman Nguyen Tien Nghi told the Daily that some of the large steel producers in the regio... |
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[2010-04-27] General election jitters adds to slow down in UK property price growth
General election jitters adds to slow down in UK property price growth
(Listed Apr, 27, 2010)
Growth in the UK residential property market is slowing as buyers put off decisions ahead of next month’s general election, according to the latest real estate price index published on yesterday. But although the housing market is losing momentum prices are still rising. They increased by an annual 1.8% in April, their fastest pace of increase since January 2008, according to the figures from ... |
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[2010-04-27] US commercial real estate investors more positive about 2010 outlook
US commercial real estate investors more positive about 2010 outlook
(Listed Apr, 27, 2010)
Commercial real estate investors in the US are more hopeful amid a general improved outlook with regard to the industry as the US economy shows some encouraging signs of improvement, according to a new survey. Investors find it easier to envision a commercial real estate market recovery today than at any point during the past 24 months although they acknowledge that challenges and concerns still exist, ... |
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[2010-04-27] Steel price down due to speculation
Steel price down due to speculation
(Listed Apr, 27, 2010)
Construction steel retail price has started to be on downward trend after a long time of skyrocketing. This has been the first reduction in steel retail price since early this year. Currently, the steel is sold to consumers at around VND 16 – 16.5 million a tonne depending on different categories, a VND 200,000 per tonne reduction but around VND 500,000 – 700,000 a tonne higher than the selling price of steel at plants. Acc... |
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[2010-04-27] $7.9 bln town breaks ground in Binh Duong
$7.9 bln town breaks ground in Binh Duong
(Listed Apr, 27, 2010)
The southern province of Binh Duong on Monday began building a new town with a total investment of over VND150 trillion (US$7.9 billion), provincial authorities said. Covering 1,000 hectares, the town, also named Binh Duong, is designed to accommodate 125,000 residents and more than 400,000 people from other places to come to work,they added. Binh Duong is located at about 30 kilometers from Ho Chi Minh City. So far 20 local and ... |
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[2010-04-26] Property sales and loans decline in New Zealand but prices reach a record high
Property sales and loans decline in New Zealand but prices reach a record high
(Listed Apr, 26, 2010)
There are fewer property sales and loans being processed in New Zealand as potential buyers display pre-budget jitters but prices have recorded a record high. The number of people who received mortgages in the first quarter of this year saw a record 30% decline on 2009, as house sales stalled and investors threw caution to the wind about possible tax changes in the budget. One-third fewer mort... |
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[2010-04-26] Steel sector told to play straight
Steel sector told to play straight
(Listed Apr, 26, 2010)
An iron hand will come down on construction steel speculators. Vietnam Steel Association (VSA) chairman Pham Chi Cuong said local steel manufacturing enterprises were jockeying for market positions, with demand growing until July when the rainy season arrived. Construction steel prices have increased since early March under pressure from the surge in prices for scrap and billets, fuel, power and the US dollar. Local steel-makers report... |
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[2010-04-26] Construction begins on Noi Bai-Lao Cai expressway
Construction begins on Noi Bai-Lao Cai expressway
(Listed Apr, 26, 2010)
Bidding package No 10 of Noi Bai-Lao Cai expressway began in Kim Thanh industrial zone in the northern border province of Lao Cai on April 24. The first section of the road is 3.3km long, stretching from Kim Thanh bridge to Quang Kim commune in Bat Xat district. The expressway has a width of 24m and 4 lanes designed for vehicles travelling at minimum speed of 80 km per hour. It runs through Lao Cai city for 19km and has ... |
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[2010-04-26] Rate talk continues to simmer
Rate talk continues to simmer
(Listed Apr, 26, 2010)
A floating interest rate mechanism can only be a matter of time, but calls for raising policy rates continue. An HSBC Asia economist Wellian Wiranto said Vietnam’s robust economic growth had been accompanied by price pressures and “we expect double-digit inflation in the coming months”. “While the rate has been hiked once, by 1 per cent in November 2009, further tightening is still needed to counter inflation,” ... |
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[2010-04-26] Vegas-style casino slated for Vung Tau
Vegas-style casino slated for Vung Tau
(Listed Apr, 26, 2010)
A Canadian group has been licensed to open the first Las Vegas-style casino in Vietnam. The casino will be located at a resort complex near the popular Ho Tram Resort in the southern coastal province of Ba Ria-Vung Tau, around 130 kilometers from Ho Chi Minh City, Thoi bao tai chinh (Financial Times) reported this week. Asian Coast Development Limited (ACDL) will invest US$4.2 billion into the property, which will be called the MGM ... |
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[2010-04-26] Deputy PM kicks off 3rd bid on southern highway
Deputy PM kicks off 3rd bid on southern highway
(Listed Apr, 26, 2010)
Deputy Prime Minister Hoang Trung Hai on April 23 kicked off construction of the third bidding package of the Ho Chi Minh City-Long Thanh-Dau Giay highway in the southern province of Dong Nai. Covering construction work from Long Thanh bridge to highway 51 in Dong Nai province, the third bidding package was undertaken by Posco E&C of the Republic of Korea. The 55-km expressway, which is being built at a cost of USD932 m... |
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[2010-04-22] Foreclosures rising and prices falling in the US real estate market
Foreclosures rising and prices falling in the US real estate market
(Listed Apr, 22, 2010)
Recent talk of a recovery in the US real estate market has been dealt a blow by the latest figures that show foreclosures still rising and prices falling. Foreclosure filings including default notices, scheduled auctions and bank repossessions rose 7% in the first quarter of 2010 compared with the last three months of 2009, the most recent figures from RealtyTrac show. Some 932,234 properties, or on in ... |
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[2010-04-22] KBC replaces Korea’s IGS in major property project
KBC replaces Korea’s IGS in major property project
(Listed Apr, 22, 2010)
Authorities of the northern province of Bac Ninh have given approval to Kinh Bac City Development Shareholding Corporation (KBC) to replace South Korea’s IGS Capital Group to develop an industrial and residential complex in the province. KBC under Saigon Invest Group will replace the foreign investor in developing the Nam Son-Hap Linh Industrial and Residential Complex. The provincial government has officia... |
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[2010-04-22] HCMC property market grows slightly in Q1
HCMC property market grows slightly in Q1
(Listed Apr, 22, 2010)
The Ho Chi Minh City property market saw modest growth in the first quarter, with both demand and supply increasing in two out of five segments, property consultants Savills Vietnam and CB Richard Ellis Vietnam said in separate reports. The office for lease segment saw 39,400 square meters added to supply, taking total supply to 838,000 sq.m. Demand for office space remained high with total leased area increased by about 39,400 s... |
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