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[2009-08-15] Steep rise in US foreclosures stems talk of real estate market recovery
Steep rise in US foreclosures stems talk of real estate market recovery
(Listed Aug 15, 2009)
The number of foreclosures in the US is continuing to rise with one in every 355 households facing default notices, scheduled auctions and bank repossessions, the latest figures show. Despite tentative signs that property prices are recovering there is still a huge backlog of properties that are in negative equity and talking about a recovery is nonsense while foreclosure continue on a steep upwar... |
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[2009-08-15] Thai-VN joint venture to develop townhouses
Thai-VN joint venture to develop townhouses
(Listed Aug 15, 2009)
Thailand’s second largest residential developer, Preuksa Real Estate (PS), is expected to sign a memorandum of understanding this week with the Vietnamese automobile producer Hoang Huy Group to set up a joint-venture to develop town houses in the northern port city of Hai Phong. The joint venture’s first project in Viet Nam will be townhouses built on 10ha in Hai Phong that will sell for 1.5 million baht (U... |
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[2009-08-14] Dollars flowing to banks
Dollars flowing to banks
(Listed Aug14, 2009)
More dollars are flowing into commercial banks, affirmed Governor of the State Bank of Vietnam Nguyen Van Giau, adding that the recent measures to stabilise the VND/US$ exchange rate have had the desired effects. On August 10, purchases of dollars were $70 million more than sales in the interbank market. The figure has special significance if noting that a serious shortage of dollars existed for a long time. Governor of the State Bank of ... |
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[2009-08-14] First public underground car park licenced in HCM City
First public underground car park licenced in HCM City
(Listed Aug14, 2009)
The Ministry of Planning and Investment has licenced the Underground Space Investment and Development JS Company (IUS) to build an underground car park at Le Van Tam Park in District 1. The first underground car park in HCM City and in Vietnam will have five storeys totalling over 103,2000 sq.m. It will be able to house around 2200 bikes, 1250 cars and 28 buses, and many shops. This project has total investmen... |
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[2009-08-14] Bank credit still plentiful for upscale real estate projects
Bank credit still plentiful for upscale real estate projects
(Listed Aug14, 2009)
Though the State Bank of Vietnam has sounded the alarm about overheating real estate credit, Tuoi Tre reports that commercial banks in HCM City continue to pour trillions of dong into real estate projects. On July 23, Sacomreal, the real estate arm of SacomBank, signed a strategic cooperation agreement with Lien Viet Bank. Lien Viet will provide loans to Sacomreal to fund the company’s huge projec... |
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[2009-08-14] Gold prices rise again
Gold prices rise again
(Listed Aug14, 2009)
Saigon Jewelry Holding Company (SJC) yesterday announced gold prices had increased by VND120,000 (US$7) per tael over Wednesday to VND21.29 million ($1,245) per tael (1.2 ounces) in Ho Chi Minh City. In Hanoi, a tael cost VND21.31 million ($1,246), the company said. In the world market, gold was at $957 per ounce yesterday afternoon Vietnam time, up by $13 over the previous day.
Source: Thanhnien News
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[2009-08-14] Hanoi looks to revoke golf course projects
Hanoi looks to revoke golf course projects
(Listed Aug14, 2009)
Two years ago, Vietnam’s tourism czars were working to position the country as Asia’s next big golf destination. The idea was to siphon off many of the big-spending Japanese and Korean golfers who make up the backbone of Thailand’s booming golf tourism market. The ensuing rush to build courses led to licenses being doled out without much planning and farmers being forced off their land to make way for ritzy new... |
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[2009-08-14] Japan Wants High-quality Textiles and Garments
Japan Wants High-quality Textiles and Garments
(Listed Aug14, 2009)
Japan is one of the major export markets of Vietnamese textiles and garments. To compete with China, Vietnam must increase the export of high-quality textiles and garments to Japan. In circumstances of the global economic recession, improving the quality of products to meet the market demand is one of the solutions to enhance the competitiveness of Vietnamese exports to Japan.
In the first six months of 2009, Vi... |
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[2009-08-14] Chan May-Lang Co Economic Zone: A Modern Urban Area of the Future
Chan May-Lang Co Economic Zone: A Modern Urban Area of the Future
(Listed Aug14, 2009)
A ground breaking ceremony recently took place in the Chan May-Lang Co Economic Zone in Thua Thien Hue province marking the start of two key projects: the US$875 million, 280 ha Laguna Hue Resort of the Banyan Tree Group (Singapore) and the VND1,279 billion Sai Gon-Chan May Industrial and Non-tariff Zone of the Sai Gon-Hue Investment Joint Stock Company (SGH), a member of the Saigon Invest Group (SGI). Pr... |
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[2009-08-14] Contract Signed To Build the Hua Na Hydropower Plant
Contract Signed To Build the Hua Na Hydropower Plant
(Listed Aug14, 2009)
On August 6, 2009 in Hanoi, the Hua Na Hydropower Joint Stock Company (a member of PV Power) and the Song Da Corporation signed a contract to build the Hua Na Hydropower Plant in Nghe An province with total designed capacity of 180MW. This plant is proposed to begin operation in 2012.
The Hua Na Hydropower Joint Stock Company was established on May 16, 2007 with two founding shareholders being the Vietnam Na... |
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[2009-08-14] An Impulse for the Real Estate Market
An Impulse for the Real Estate Market
(Listed Aug14, 2009)
Vietnam Economic News' Minh Duc spoke with Tong Van Nga, the permanent vice president of the Vietnam Real Estate Association, about the Government's new policies to develop housing for low-income people, students and those who work in industrial zones (IZs).
What do you expect from those new policies?
Those policies were approved recently and we hope that they will soon be disseminated among businesses and people. Wh... |
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[2009-08-13] HCMC defends modification of PM-approved beltway
HCMC defends modification of PM-approved beltway
(Listed Aug13, 2009)
The Ho Chi Minh City People’s Committee followed legal procedures when modifying a major road project, the Tan Son Nhat–Binh Loi beltway, an official said Tuesday.
Tran Quang Phuong, director of the Department of Transport, spoke to the press on the issue following Thanh Nien reports about the controversial modification over the past two days. Former Prime Minister Phan Van Khai had in 1997 approved a plan... |
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[2009-08-13] Bahrain's housing market to remain subdued
Bahrain's housing market to remain subdued
(Listed Aug13, 2009)
Transactions in Bahrain's housing market have fallen sharply due to the financial crisis, and activity will remain subdued over the summer period, CB Richard Ellis said on Wednesday. "Transaction activity during Q2 2009 came to a standstill in the off-plan market, although secondary market transactions are still taking place in small numbers," the real estate services firm said in a report. "Entering the summer and subse... |
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[2009-08-13] Ex-minister urges skeptical attitude toward foreign promoters’ claims
Ex-minister urges skeptical attitude toward foreign promoters’ claims
(Listed Aug13, 2009)
A former planning minister comments on the foreign direct investment situation, including the collapse of ballyhooed projects. He calls on the central government to take back control of licensing in cases where projects have a significant impact on industrial development strategy or threaten major environmental damage. Tran Xuan Gia is a well-known economist, and a former Minister of Planning a... |
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[2009-08-13] My Phuoc – Tan Van avenue project shows up important role in industrialization proc
My Phuoc – Tan Van avenue project shows up important role in industrialization process
(Listed Aug13, 2009)
Binh Duong reporters have made a brief interview with Chairman, General Manager Nguyen Van Hung of Becamex IDC about the large scale investment to My Phuoc – Tan Van avenue.Can you give some points on the policy to build such a mainstream route? According to traffic, industrial, and land use network plan to 2010 and vision to 2020, Binh Duong province will synchronize co... |
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