Foreign investors shun properties with bank debt

Last update 16:00 | 05/10/2017

VietNamNet Bridge – VAMC (Vietnam Asset Management Company) is now holding VND230 trillion worth of bad debt, including real estate which is used as collateral for bad debts it has purchased from commercial banks.

vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, VAMC, bad debt, SSC

It is expected that from now to the end of 2017, VAMC will settle VND23-25 trillion worth of bad debt, or 10 percent of the amounts of bad debt it is holding.

With 70 percent of bad debt secured by real estate, roughly VND161 trillion dong worth of property being held by VAMC will be liquidated in the time to come. Continue reading “Foreign investors shun properties with bank debt”

Advertisements

High growth expected for VN’s land lot segment

vietnamnews Update: September, 30/2017

Many experts believe that the land lot segment has received significant attention from investors as evident from the increasing selling price and transaction numbers.— Photo realtimes.vn

HÀ NỘI — Many experts believe that the land lot segment has received significant attention from investors as evident from the increasing selling price and transaction numbers.

Some even expect this segment could become “hot” in the near future. Continue reading “High growth expected for VN’s land lot segment”

Real estate remains 2nd largest FDI lurer in VN

Last update 18:29 | 07/09/2017

Despite having fallen to the fourth position in terms of foreign direct investment in the first eight months of 2017, the real estate sector remains the second-biggest recipient of this type of investment to date.

Real estate remains 2nd largest FDI lurer, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news

Though realty is fourth in FDI for eight months, it remains the second-largest earner overall 

According to the Ministry of Planning and Investment’s Foreign Investment Agency, between January and August 20, the real estate sector stood in fourth with regards to foreign direct investment (FDI) inflows – with 46 newly-registered projects and 15 others increasing their capital, totalling more than $1.16 billion.

Real estate FDI is behind the sectors of manufacturing and processing ($11.69 billion), power processing and distribution ($5.36 billion), and mining ($1.28 billion). Continue reading “Real estate remains 2nd largest FDI lurer in VN”

FDI flow into real estate: a cause for concern?

Last update 08:00 | 26/08/2017
VietNamNet Bridge – Real estate ranked fourth among the most attractive business fields for foreign investors, with registered FDI capital of $1.15 billion in the first half of the year.vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, FDI, real estate market, HOREA
According to Savills Vietnam, the increase in FDI in the manufacturing sector has prompted investors to pour money into projects to develop industrial infrastructure.

Thai company Hemaraj Land & Development and Vietnamese firm Cienco 4 last May confirmed cooperation to set up a joint venture to develop an IZ on an area of 3,200 hectares in Nghe An province, capitalized at $1 billion.

Many deals were made in the first half of the year. Japanese firm Nishi Nippon and Hankyu joined forces with Vietnamese firm Nam Long to develop Mizuki Park residential quarter on an area of 26 hectares in Binh Chanh district, HCMC, capitalized at $351 million.

Meanwhile, Aeon Mall has teamed up with BIM Group to develop Aeon’s second shopping mall in Hanoi, covering an area of 16.7 hectares in a $200 million project. Son Kim Lan has successfully called for $100 million worth of investment capital from a Japanese investor.

The increase in FDI in the manufacturing sector has prompted investors to pour money into projects to develop industrial infrastructure.

Housing projects continue attracting attention from investors. Chinese firm Fortune Land Development has bought Lotus Dai Phuoc shares from VinaCapital, worth $65.3 million. This is a residential quarter project covering an area of 198.5 hectares in an area of Dong Nai province adjacent to HCMC.

A 65 percent stake in Times Square complex worth $41 million has been transferred by VinaCapital to Elite Capital Resources Limited.

Analysts have predicted that FDI flow into the real estate sector will continue in the time to come thanks to open policies and the great potential in tourism development. However, they warned that the amount of capital into the market needs to be measured by disbursed capital, not registered capital.

Many registered projects have not been implemented. Booyuong Mo Lao project in Ha Dong district, for example, has been left unimplemented for years.

Nguyen Tri Hieu, a respected banking expert, commented on Dau Tu Bat Dong San that  more FDI capital is good news, but that is necessary to reconsider the situation if too much capital flows into the real estate sector. If the capital only goes to high-end real estate and resort projects, it will only heat up the market and lead to oversupply in the market segment, and not propel socio-economic development.

Phan Huu Thang, former head of the Foreign Investment Agency, now chair of the Vietnam Real Estate Association, affirmed that FDI real estate projects would still be welcomed. The problem is that Vietnam needs to supervise project implementation to ensure sustainability in investment and development.

RELATED NEWS

Vietnam’s FDI in first 7 months reaches nearly $22 billion

Over $600 million of FDI poured into VN property in 5 months

Chi Mai

Giant projects transform the face of Phu Quoc

Last update 17:16 | 22/05/2017
VietNamNet Bridge – To date, Phu Quoc – Vietnam’s largest island – has attracted US$16.7 billion of investment into a range of international-scale projects, which not only give the island a new face, but also attract other projects as well as tourists. Among them, Sun Group’s projects in the south of the island are one of the engines of change.

Billion-dollar projects taking shape

Giant projects transform the face of Phu Quoc, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam reaking news

Phu Quoc used to be an almost unknown island, but in recent years, the southern beaches of the island have turned into a worldwide vacation paradise thanks to the investment of many domestic and foreign companies. One of the biggest investor is Sun Group, with up to VND20 trillion ($881 million) of investment capital. Continue reading “Giant projects transform the face of Phu Quoc”

Private firm discovered building 104 unapproved apartments in central Vietnam

Tuoi Tre News

Updated : 05/15/2017 19:04 GMT + 7

The notorious Muong Thanh Group has been found building over 100 apartments that defy approved designs in the central Vietnamese city of Da Nang.

The high-rise developer unilaterally adjusted the original design of a hotel and apartment complex in Ngu Hanh Son District, Da Nang, to add a total of 104 apartments for sale.

Although local authorities had detected the violation last year, and ordered a cessation of the construction at the time, Muong Thanh ignored the order and completed the extra properties. Continue reading “Private firm discovered building 104 unapproved apartments in central Vietnam”

High demanding foreigners pay attention to real estate projects in Vietnam

Last update 11:06 | 21/04/2017

Real estate analytics show a marked rise in foreign-ownership of high-end properties in Vietnam.

High demanding foreigners pay attention to real estate projects in Vietnam, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam reak

Despite the flourishing supply featuring remarkable variety, foreign investors come to Vietnam with a particularly discerning eye for real estate projects.

Apart from amenities, service quality, profitability, and legal conditions of ownership, foreign clients have a special concern for the reputation of developers.

With a solid track-record of cooperating with Marriott to develop a chain of high-end real estate projects at favoured tourism destinations, such as Sapa, Danang, and Quy Nhon, Alphanam is highly regarded for its sustainable financial capacity and credibility. Continue reading “High demanding foreigners pay attention to real estate projects in Vietnam”