Latest blog articles
Foreign giants interested in Vietnamese real estate
Many large foreign corporations have increased investment in the housing market of Vietnam by forming joint ventures or buying shares of domestic enterprises.
Ho Chi Minh City and Hanoi are the most attractive markets in the eyes of investors from Asia like Japan, Korea, and Singapore.
In the third quarter, the real estate market in HCM City recorded the formation of Maeda JV between Maeda - a Japanese firm and Vietnamese company Thien Duc to develop Waterina project in District 2.
Maeda is the builder of the underground segment in District 1 of the Ben Thanh - Suoi Tien metro lines. Waterina is the first apartment project of Maeda Group in Vietnam.
As revealed by a survey consultant in HCM City, Maeda spent years studying the real estate market of Vietnam before officially investing in the luxury apartment segment.
Similarly, Mitsubishi Corporation joined Bitexco to establish a housing development joint venture with initial investment capital of $290 million.
Kajima, the 176-year-old building group from Japan and Indochina Capital, has launched a joint venture with total investment of $1 billion dollars in the next 10 years. The capital contribution rate between Kajima and Indochina Capital is 50-50.
In the next 12-15 months, this joint venture will develop four luxury real estate projects in HCM City, Hanoi and Danang. Indochina Capital revealed that the four projects were selected from a list of 50 potential projects in Vietnam. At first, the new joint venture will focus on luxury real estate projects in the form of high-end resorts, serviced apartments, hotels and housing.
Frasers Centrepoint Limited (Singapore) recently bought 70% stake in the G Homes project from the An Duong Thao corporation.
Mirae Asset Securities Co. (Korea) has collaborated with AON BNG to acquire Keangnam Hanoi Landmark Tower at the price of $350 million.
In the past nine months, big names such as Lotte and Mapletre announced they would pour capital into big real estate projects in the Eastern part of HCM City.
Most recently, a foreign billionaire paid $15 million to purchase a beach villa in Da Nang.
General Director of CBRE Vietnam Marc Townsend said the interest of foreign investors in the real estate market in HCM City, Hanoi and coastal provinces is huge. They are hunting for opportunities to develop housing projects that are well connected with the city center or assets already inoperation which can bring about a stable cash flow.
According to CBRE, in the January-September period, Vietnam attracted $16.4 billion of FDI, with 6% of the volume inreal estate.
According to Jones Lang LaSalle (JLL) Vietnam, project information transparency has notably improved in the residential market. In recent years, numerous policies and regulations in terms of transparency have been implemented.
More recently, a list of mortgaged projects at local commercial banks has also been published, in response to the local authorities’ request for more clarity on project status across the second city. These steps are collectively being seen as positive actions to promote transparency in the market.
Trang Le, manager of research and consulting at JLL Vietnam, said, “With the development of advanced technology and an influx of capital in the Vietnamese real estate market, transparency will need further enhancement in the future.”
She noted that sophisticated technology will provide a better tool for improving market transparency, and the strong influx of capital will push demand for transparency to a higher level than previously seen.
Lao men chased down for smuggling 23kg of heroin into Vietnam
Two Lao men arrested with the large haul of heroin in Thanh Hoa Province on Saturday. Photo by VnExpress/Lam Son Border guards in central Vietnam arrested two Lao men for smuggling nearly 23 kilograms of heroin across the border on Saturday. The men, 32 and 41, were caught driving a motorbike across the border at 9 p.m. on Saturday and refused to stop for a check. Vietnamese border guards chased after them and seized the drugs, along with a large amount of cash. The Laotians said they were… chat_bubble_outline Read More...
That time Trump refused to say he'll accept election result
WASHINGTON (AP) — Sometimes, the answer to a debate question seems obvious.Donald Trump, will you absolutely accept the results of this presidential election?He dodged. Twice."I will look at it at the time," Trump bobbed.Moderator Chris Wallace of Fox News pressed the question again."I will tell you at the time," Trump weaved. "I'll keep you in suspense."The final presidential debate of the 2016 campaign got off to a remarkably civil start Wednesday night: two candidates discussing serious… chat_bubble_outline Read More...
ACV to put on sale hefty stake in airport services company
Buying a stake in Southern Airports Services JSC (Sasco) from Airports Corporation of Vietnam (ACV) is considered an opportunity for investors to benefit from Sasco’s potential business activities. ACV has released plans to sell 3.95 million shares, equalling a 3 per cent stake, in its subsidiary Sasco, aiming to reduce its holding from 51 to 48 per cent. Sasco shares are now trading at a price of VND26,000 ($1.17) apiece. At this price, ACV is expected to gross VND100 billion ($4.4… chat_bubble_outline Read More...
Ho Chi Minh City keeps calm and carries on amid floods and high tides
When torrential rains and high tides returned to Ho Chi Minh City on Monday, hundreds of residents in the low-lying Thanh Da penninsula saw little choice but to calmly welcome a half-meter of water into their homes. Nam, a resident of Thanh Da, donned rubber boots. As he read the paper, his daughter watched the evening news. “October brings the highest tide," he said. "This happens every year. I just get used to the floodwater pouring in my house." Dang Thi Ut, the owner of a low-cost hair… chat_bubble_outline Read More...
U.S. Third Fleet expands East Asia role as tensions rise with China
Sailors aboard the aircraft carrier USS George Washington man the rails as the ship pulls out of Hong Kong after a five-day port visit in this U.S. Navy handout photo dated November 14, 2011. Reuters/U.S. Navy/Mass Communication Specialist Seaman Erin Devenberg/Handout/File Photo The U.S. Navy's Third Fleet will send more ships to East Asia to operate outside its normal theater alongside the Japan-based Seventh Fleet, a U.S. official said on Tuesday, a move that comes at a time of heightened… chat_bubble_outline Read More...