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[2009-07-25] Hanoi: old flats’ prices surprisingly rising
Hanoi: old flats’ prices surprisingly rising
(Listed Jul 25, 2009)
It may seem improbable, but in Hanoi, the older that flats are, the more expensive they are getting. The prices of old flats in areas in the inner city have increased by two-fold in the past few months.The older, the more expensiveNguyen Van Thanh, the owner of a flat on the third floor of B1 Giang Vo apartment bloc, said that earlier this year, some people asked to buy his 45 square metre at 500 million dong, but he... |
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[2009-07-25] Thu Thiem turns down investor despite fund shortage
Thu Thiem turns down investor despite fund shortage
(Listed Jul 25, 2009)
The Thu Thiem New Urban Area, a severely delayed and underfunded mega-project in Ho Chi Minh City, has rejected a Singaporean joint-venture’s investment bid for ignoring parameters agreed to last year.The city People’s Council, which acts as the municipal legislature, was informed of the news as it inspected work at Thu Thiem in District 2 on Wednesday.TA Associates Vietnam, which aimed to invest in a 1... |
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[2009-07-25] Sacomreal pools resources for property development
Sacomreal pools resources for property development
(Listed Jul 25, 2009)
Sai Gon Thuong Tin Real Estate Joint Stock Company, better known as Sacomreal, yesterday signed agreements with three strategic partners including a bank to pool resources for developing property projects in the coming time.Sacomreal cut deals with Lien Viet Joint Stock Commercial Bank (LienVietBank) for financial support, with Saigon Co.op on the latter's retail chain development, and with the United Nations Educat... |
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[2009-07-25] Working group to speed up site clearance and relocation
Working group to speed up site clearance and relocation
(Listed Jul 25, 2009)
The municipal People’s Committee will establish an ad hoc working group to supervise, speed up and resolve difficulties in site clearance at transport and urban infrastructure projects. The group, composed of officials from the city’s departments of Construction, Finance, Transport, and Planning and Investment, will speed up site clearance and arrange resettlement under legal regulations, ... |
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[2009-07-25] Public land neglected, used for profit
Public land neglected, used for profit
(Listed Jul 25, 2009)
State-owned companies in Ho Chi Minh City have been using public land for profit and neglecting other valuable real estate for years, officials from the municipal People’s Council have said.The Economic and Budget Committee, which operates under the People’s Council – the local legislature – inspected land use and management at state-run firms in District 8 and Binh Tan District on Thursday. A ... |
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[2009-07-25] HCMC faces illegal use of land
HCMC faces illegal use of land
(Listed Jul 25, 2009)
A 1,300-square-meter premise at 190 Nguyen Trong Tuyen, Ward 8, Phu Nhuan District, has been unused for many years.
A great deal of land is being illegally used while a large number of projects have come to a standstill due to a lack of land in Ho Chi Minh City, according to a recently survey by Sai Gon Giai Phong.The general director of Vietnam Southern Food Corporation, Truong Thanh Phong, provided shocking information that h... |
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[2009-07-24] 50 percent tax cut on houses for low-income earners
50 percent tax cut on houses for low-income earners
(Listed Jul 24, 2009)
The Prime Minister on July 22 signed a decision to halve value added taxes on estate agents involved housing projects for people with low incomes. The decision came into effect when it was signed and will be valid until December 31, 2009. All activities related to developing housing for students, workers in industrial zones and low income earners will see VAT rates reduced by half. In addition, corporate income taxes... |
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[2009-07-24] Vietnam to modernize land management system
Vietnam to modernize land management system
(Listed Jul 24, 2009)
Vietnam has finalized legislation relating to databases on land in 54 out of 63 cities and provinces nationwide, paving the way for efforts to modernize the country’s land management system supported by the government and the World Bank (WB). The Vietnam Land Administration Project (VLAP), built by the Ministry of Natural Resources and Environment, has a total investment of US$100 million, with US$75 million being fin... |
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[2009-07-24] Low-priced apartments selling better than higher-priced ones
Low-priced apartments selling better than higher-priced ones
(Listed Jul 24, 2009)
In the first three weeks of July, the land price escalation in HCM City stopped, while the high-grade apartment market was quiet. However, the lowered-priced apartment market segment was bustling with 11-15 million dong per square metre apartments being hunted. According to Vinaland real estate trading floor, Tan Mai apartment project in Binh Tan district is the one which saw the highest number of transactions... |
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[2009-07-24] Plans to revoke software park investment license
Plans to revoke software park investment license
(Listed Jul 24, 2009)
The Management Board for Investment and Construction of the Thu Thiem new urban recently asked HCM City’s People’s Committee to stop renting land and revoke the investment license of TA Association Vietnam Limited. It is more than 12 months since a software park license was awarded to the company, which has yet to pay any rent and has profited from the accrued interest due to it late payments. The managemen... |
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[2009-07-24] VND20 trillion for Thu Thiem compensation, resettlement
VND20 trillion for Thu Thiem compensation, resettlement
(Listed Jul 24, 2009)
The management board for the Thu Thiem New urban area will provide VND20 trillion in compensation to resettle residents living in the area, it was recently announced. The board has already spent more than VND9.25 trillion. The board reported the result to the Economic and Budget Board of HCM City’s People’s Council, which has been studying the rate of the project’s progress. Since 2002, compens... |
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[2009-07-24] The State Bank of Vietnam has affirmed that it does not have a plan to issue compul
The State Bank of Vietnam has affirmed that it does not have a plan to issue compulsory bonds to withdraw cash from circulation as it has been rumoured.
(Listed Jul 24, 2009)
The State Bank of Vietnam has affirmed that it does not have a plan to issue compulsory bonds to withdraw cash from circulation as it has been rumoured. Director of the Monetary Policy Department under the State Bank of Vietnam Nguyen Ngoc Bao told Thoi bao Kinh te Vietnam that this is just a rumour and that the centra... |
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[2009-07-24] Gold rebounds as dollar weakens
Gold rebounds as dollar weakens
(Listed Jul 24, 2009)
Gold prices in Vietnam rose VND30,000 a tael (1.2 ounces) on July 23 as global prices edged up. At most gold shops, the metal was sold at VND21.18 million and bought at VND21.12 million though trading volumes remained low. Sacombank Jewelry Co. said trading would only improve after gold breaks out of the VND20.80 million-21.20 million range. Trading also became muted on the SBJ gold exchange with 186,000 taels traded at VND20.30 millio... |
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[2009-07-23] Real estate market report (July 10th, 2009 – July 16th, 2009) Beware of “imaginary
Real estate market report (July 10th, 2009 – July 16th, 2009) Beware of “imaginary waves”
(Listed Jul 23, 2009)
Last week, it was recorded that Hanoi’s housing market was at a standstill. Successful transactions sharply decreased in trading floors. Many experts said that the market’s standstill will be a good opportunity for investors to create “imaginary” waves.Speaking to the press, Pham Trung Ha, director of Hoa Phat Real Estate Co., said that prev... |
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[2009-07-23] Two southern road projects to kick off this quarter
Two southern road projects to kick off this quarter
(Listed Jul 23, 2009)
Construction will start on two roads linking Dong Nai and Ba Ria-Vung Tau provinces in this quarter which once completed will greatly help promote goods transport in the southern focal economic zone, the developer said.The Bien Hoa-Vung Tau Expressway Development JSC (BVEC) as the developer said in a report sent to the Vietnam Road Administration that it intended to kick off the projects to expand the existing National ... |
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