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[2009-08-19] Oil price rises as supplies fall

Oil price rises as supplies fall (Listed Aug 19, 2009) The price of oil rose by more than $3 to settle above $70 a barrel after a surprise drop in crude imports and inventories in the US. US crude stockpiles plunged by 8.4 million barrels as imports hit the lowest level since September 2008, the Energy Information Administration said. US crude settled up $3.23 at $72.42 a barrel while London Brent crude rose $2.22 to settle at $74.59. Analysts had expected supplies to grow in the week to ...
[2009-08-18] Tourist property firms team up to boost business

Tourist property firms team up to boost business (Listed Aug 18, 2009) A group of real estate companies founded the Vietnam Tourism Property Association (VnTPA) last week in Ho Chi Minh City to promote the country’s tourism property sector.The association, VnTPA, gathers entrepreneurs operating in the tourism property sector to promote investment opportunities and help the government create a legal framework for the industry, according to tourism property developer Phuquocland, the found...
[2009-08-18] City to inspect An Phu golf course

City to inspect An Phu golf course (Listed Aug 18, 2009) The Ho Chi Minh City Department of Natural Resources Environment announced August 13 it would look into the construction of a long-delayed golf course in District 2 and an attached hospital to consider separating them.The Saigon Development and Investment Corporation (SDI)’s Rach Chiec golf course, sports and housing complex, or An Phu golf course, has been delayed for 10 years, leading to severe cost overruns.The planned hospital ...
[2009-08-18] Opposing reasons upset residents affected by beltway project

Opposing reasons upset residents affected by beltway project (Listed Aug 18, 2009) The controversial modification of a beltway project in Ho Chi Minh City has produced yet another controversy, this time over the displacement of households under the original and the modified plan.Forty-nine households in Go Vap District’s Ward 3 are irate that authorities want to reclaim their land although it falls outside the area of the modified project design.They say local authorities have repeatedly...
[2009-08-18] New decree offers displaced residents compensation deal

New decree offers displaced residents compensation deal (Listed Aug 18, 2009) Residents who must move to make way for development projects will be compensated with land whose use is similar to their original plot, according to a new Government decree.If there is no available land, displaced residents will be compensated with cash equal to their land price calculated at the time when the reclamation decision is made.Effective on October 1, the decree contains regulations on zoning, prices, comp...
[2009-08-17] Phu My Bridge, East-West Avenue set to open by September

Phu My Bridge, East-West Avenue set to open by September (Listed Aug 17, 2009) The deputy chairman of HCM People’s Committee, Nguyen Thanh Tai, visited the construction sites of the Phu My Bridge and East – West Avenue projects to check on progress Saturday. The two projects are expected to be opened September 2 to mark Independence Day. Mr. Tai requested contractors to speed up the progress so that they can be opened on schedule. As to the East – West Avenue project, t...
[2009-08-17] Hanoi reports $10.5 mil. construction-fund surplus

Hanoi reports $10.5 mil. construction-fund surplus (Listed Aug 17, 2009) There remained a surplus of one billion yen (US$10.5 million) from the funding for seven key urban development projects in Hanoi, the city Management Board of Major Urban Development Projects, said Saturday. About 8.4 billion yen of the total 9.4 billion yen ($99 million) has been disbursed, said Nguyen Si Bao, director of the board. According to Bao, five of the seven projects have been completed. They are the Nga ...
[2009-08-17] 27-storey CEO Tower inaugurated in Hanoi

27-storey CEO Tower inaugurated in Hanoi (Listed Aug 17, 2009) The CEO Investment Joint Stock Company officially inaugurated CEO Tower on August 16. The VND220 billion building has 27 storeys and 2 basements and its total area for lease is 20,000 sq.m. It is equipped with modern facilities offering high-quality banking and trading services. The building is located on Pham Hung Road in the My Dinh New Urban Area along the route linking the city centre to Noi Bai International Airport whi...
[2009-08-17] U.K. home sellers lower asking prices by most in eight months

U.K. home sellers lower asking prices by most in eight months (Listed Aug 17, 2009) U.K. home sellers lowered asking prices in August by the most in eight months as banks kept up the squeeze on credit, Rightmove Plc said. The average cost of a home fell 2.2 percent to 222,762 pounds ($367,808) after gaining 0.6 percent in July, the owner of the U.K.’s biggest residential property Web site said today in a statement. Prices in London dropped 3.8 percent. “In spite of pent-up de...
[2009-08-17] Opposing reasons upset residents affected by beltway project

Opposing reasons upset residents affected by beltway project (Listed Aug 17, 2009) The controversial modification of a beltway project in Ho Chi Minh City has produced yet another controversy, this time over the displacement of households under the original and the modified plan. Forty-nine households in Go Vap District’s Ward 3 are irate that authorities want to reclaim their land although it falls outside the area of the modified project design. They say local authorities have re...
[2009-08-16] Houses 'going like hot cakes'

Houses 'going like hot cakes' (Listed Aug 16, 2009) Soaring demand for affordable residential real estate is seeing frenzied bidding by first-home buyers packing auctions in Auckland suburbs. Competition among buyers has increased as financing costs have fallen and the number of properties on the market has dropped. Listings with Barfoot & Thompson, Auckland's largest real estate company, are at their lowest since December 2007. A combination of factors this week has injected new urg...
[2009-08-16] HCM City-Can Tho high-speed rail line to cost US$4 billion

HCM City-Can Tho high-speed rail line to cost US$4 billion (Listed Aug 16, 2009) The Ministry of Transport has assigned the Vietnam Railways Administration to carry out a US$4 billion high-speed rail line project linking HCM City to Can Tho City, using technology from the Republic of Korea (RoK). The Southern Transport Engineering Design Joint Stock company and RoK consultant Chungsuk are conducting a feasibility study on the route and will select the best option in the earliest possible...
[2009-08-16] VND20,000 billion in bonds to be issued for Thu Thiem project

VND20,000 billion in bonds to be issued for Thu Thiem project (Listed Aug 16, 2009) The Ho Chi Minh Municipal People’s Committee has approved the issuance of VND20,000 billion in local bonds for the Thu Thiem new urban area project. The bonds are being issued by the Ho Chi Minh Municipal People’s Committee and the HCM City Investment Fund for Urban Development. VND14,000 billion will be issued in the first phase, from now through the end of 2009, and VND6,000 billion in the s...
[2009-08-16] City to inspect An Phu golf course

City to inspect An Phu golf course (Listed Aug 16, 2009) The Ho Chi Minh City Department of Natural Resources Environment announced August 13 it would look into the construction of a long-delayed golf course in District 2 and an attached hospital to consider separating them. The Saigon Development and Investment Corporation (SDI)’s Rach Chiec golf course, sports and housing complex, or An Phu golf course, has been delayed for 10 years, leading to severe cost overruns. The planned h...
[2009-08-15] Steel price increases make construction contractors suffer

Steel price increases make construction contractors suffer (Listed Aug 15, 2009) The continued steel price increases recently have dealt a blow to builders. Meanwhile, steel producers are threatening to raise sale prices further, saying that the current sale prices still do not match the ingot steel price increases in the world.Increasing and increasing all the time In mid July, the Vietnam Steel Corporation (VSC), Pomina, Vina Kyoei raised sale prices by another 300,000-400,000 per tonne. P...
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