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[2010-07-09] Dai Nam Tourist Site gets US$150 million expansion
Dai Nam Tourist Site gets US$150 million expansion
Listed Jul, 09, 2010)
More than VND3 trillion (US$150 million) will be invested in the second phase of the Dai Nam Tourist Site, announced the Dai Nam Joint Stock Copmany on July 1. “The second phase construction will be completed soon. We hope that the park will be a pride for Vietnamese people and a place honoring Vietnamese traditional culture” he added.The Dai Nam Tourist site covers on an area over 450 hectares in the town of ... |
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[2010-07-09] Banks rush to open savings funds
Banks rush to open savings funds
Listed Jul, 09, 2010)
Commercial banks over the past two months have been in a race to open savings funds to attract more depositors now that the central bank has introduced a policy restricting banks from opening new branches and offices. Such savings funds, which are not allowed to give loans, are seen as the fastest way for banks to widen their networks. Such affiliates still are allowed to mobilize funds, issue and discount valuable papers issued by the ban... |
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[2010-07-08] Housing loophole closure to shut door on controversy
Housing loophole closure to shut door on controversy
Listed Jul, 08, 2010)
The government has closed housing sales legal loopholes that have confused developers and claimed thousands of victims.Decree 71/2010/ND-CP dated June 23, 2010 provides clearer regulations on how real estate developers can raise capital from customers for housing developments, an issue that the Housing Law has failed to provide sufficient guidelines.According to the decree, housing developers will be allowed to raise ca... |
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[2010-07-08] French property loans tightening for self employed but banks boost lending for leas
French property loans tightening for self employed but banks boost lending for leaseback
Listed Jul, 08, 2010)
The French mortgage market is experiencing a tightening of bank policy towards accepting clients in some sectors because the economy has slowed but current currency rates are good news for British buyers.Leading French loan broker Athena Mortgages said that attitudes amongst many of the banks have now changed and there is more caution about lending in particular to self employed peopl... |
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[2010-07-08] PMC gets greenlight for Phu My beltway project
PMC gets greenlight for Phu My beltway project
Listed Jul, 08, 2010)
HCM City People's Committee has approved Phu My Construction Investment Corporation (PMC), the builder and operator of Phu My Bridge, to construct a belt-road to link with the Ha Noi Highway.The committee granted the approval for the connection from the bridge to Street 25B after the company complained that not enough vehicles were using the bridge because there wasn't a belt road."Only 6,000 vehicles use the bridge per day, ... |
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[2010-07-08] More gloom for Cyprus real estate market as title deeds law is delayed
More gloom for Cyprus real estate market as title deeds law is delayed
Listed Jul, 08, 2010)
Property owners and potential owners in Cyprus are facing a series of gloomy news as attempts to sort out the island’s long running title deeds disputes are delayed and an expected recovery in the real estate market is failing to materialise. The Cyprus government has been unsuccessful in its attempt to introduce the five bills designed to accelerate the issue of Title Deeds by the end of the par... |
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[2010-07-08] Govt and analysts expects property prices in China to fall by up to 20% in coming m
Govt and analysts expects property prices in China to fall by up to 20% in coming months
Listed Jul, 08, 2010)
Senior Chinese officials are claiming that they have no plans to launch a new round of property market tightening as they expect prices to fall considerably in coming months.Wang Yulin, deputy research head at the Ministry of Housing and Urban Rural Development, said the government would step up efforts to implement tightening measures which have already been announced to rein in the ... |
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[2010-07-07] Tax changes in NZ likely to result in falling property prices and higher rents
Tax changes in NZ likely to result in falling property prices and higher rents
Listed Jul, 07, 2010)
Residential property prices in New Zealand will fall about 2% this year, 2% in 2011 and rents are likely to rise, according to economists.Tax changes, rising interest rates and a falling population are all predicted to contribute to the contraction of the country’s real estate market with prices already down 12% from their peak in 2007.Tax changes due to take effect on October 1 are one o... |
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[2010-07-07] Cement industry slammed for ‘overly hot investment’
Cement industry slammed for ‘overly hot investment’
Listed Jul, 07, 2010)
After criticisms of the tile and then steel industries, now the cement industry is being slammed for ‘overly hot investment’. The Ministry of Construction and related companies must strain to settle overproduction.Every year, Vietnam consumes a large volume of cement to develop infrastructure and build houses. Development experts claim that it is therefore necessary to develop the cement industry.... |
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[2010-07-07] Bank capital search stymied, critics blame Govt decree
Bank capital search stymied, critics blame Govt decree
Listed Jul, 07, 2010)
An expert from the Vietnam Banking Association believes that some five commercial banks will not be able to increase their chartered capital to three trillion dong in 2010 as instructed.The State Bank of Vietnam (SBV) has urged commercial banks to speed up the process of increasing chartered capital to three trillion dong many times. SBV stresses that banks lacking this capital will not be allowed to exist after Decem... |
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[2010-07-06] Consultants predict massive over supply for Dubai office property market
Consultants predict massive over supply for Dubai office property market
Listed Jul, 06, 2010)
Office vacancy rates in Dubai are expected to exceed 50% over the next year as new supply continues to be released amid fears that the commercial real estate market is unlikely to recover in the short term. More than two million square feet of office space was completed during the second quarter of this year an another 15 million is scheduled to be completed during the next six months, accordin... |
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[2010-07-06] Sales in Manhattan rise substantially as job prospects spurs confidence in the real
Sales in Manhattan rise substantially as job prospects spurs confidence in the real estate markets
Listed Jul, 06, 2010)
Apartment sales in Manhattan have soared 80% in the second quarter of 2010 reaching their highest level since 2008, the latest real estate figures show. An improving jobs market is cited as the main reason behind the improvement, according to a report from New York appraiser Miller Samuel and broker Prudential Douglas Elliman Real Estate. Prices are fairly stable with... |
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[2010-07-06] How to raise capital for real estate projects
How to raise capital for real estate projects
Listed Jul, 06, 2010)
Most real estate projects that began construction at the end of 2009 have been suspended for lack of capital.A thirst for capital According to Professor Dang Hung Vo, like other many other countries, Vietnam will face numerous difficulties in the real estate market this year. The excessive amount of mortgages loaned by American commercial banks seriously affected US financial markets and led to the global economic crisis ... |
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[2010-07-01] Domestic steelmakers feel pressure from falling price
Domestic steelmakers feel pressure from falling price
Listed Jul, 01, 2010)
Steel retailers are suffering significant losses due to overstock and price cuts during the construction season. Since the beginning of this month, the Viet Nam Steel Association (VSA) has received two notices of steel price reductions from its member companies. The steel mills have cut prices by VND300,000-600,000 per tonne in an attempt to clear their stockpiles. With June’s cuts, the steel price is roug... |
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[2010-07-01] Localities more careful when attracting FDI
Localities more careful when attracting FDI
Listed Jul, 01, 2010)
Many localities have become more careful when attracting foreign direct investment (FDI) as they have laid out specific conditions and commitments for investors, will only select projects that are in line with their development objectives and will halt any projects that are way behind schedule. According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, although FDI projects contributed o... |
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