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[2009-05-14] Tien Giang: 1 billion USD for urban zone development
Tien Giang: 1 billion USD for urban zone development
(Listed May 14, 2009)
The Country State Development PTY Ltd of Australia has submitted an investment project, worth 1 billion USD, to develop a 1,300ha urban and industrial zone in Go Cong Commune, southern Tien Giang Province.Under the plan, 33.5 percent of the project’s acreage will be marked off for greenery and infrastructure; 31 percent for housing and 15.5 percent for industrial purposes. The area for trade and services will rep... |
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[2009-05-14] Not easy to hunt for cheap houses in US
Not easy to hunt for cheap houses in US
(Listed May 14, 2009)
High house taxes have made many Vietnamese people waver over their plans to purchase houses in the US.The house tax rate in California is 1% per annum, while in Houston, Texas, a medium-class house may be taxed $8,000. If people get profit from selling houses, they have to pay the income tax of 15%. The high tax rates have forced many Vietnamese people who are hunting for houses in the US to reconsider their plans.Many Vietnamese p... |
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[2009-05-14] Construction industry to benefit from simpler bidding procedures
Construction industry to benefit from simpler bidding procedures
(Listed May 13, 2009)
Viet Nam Contractors Association vice chairman Nguyen Quoc Hiep spoke to Thoi bao Ngan hang (Banking Times) newspaper about difficulties facing the construction industry.What are the advantages and disadvantages for Vietnamese contractors in the bidding process?The Bidding Law's current regulations have minimized negative impacts during the bidding process. However, it remains inadequate due to overlaps a... |
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[2009-05-13] New paperwork for property tranding superfluous: investors
New paperwork for property trading superfluous: investors
(Listed May 13, 2009)
A proposed move to require property exchanges to give written approval for all deals between apartment investors and buyers has been criticized as a needless complication.The proposal, contained in a draft document issued by the Ho Chi Minh City Department of Construction without a disclosed issuance date, seeks to clarify a circular from the Ministry of Construction on the Real Estate Trading Law.The ... |
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[2009-05-13] Finance Ministry stuck in steel coil import tax
Finance Ministry stuck in steel coil import tax
(Listed May 13, 2009)
The Finance Ministry is facing problems in collecting tax on a large volume of imported steel coils after the Directorate for Standards and Quality could not test the steel for the presence of boron, a chemical element which makes the import products tax free.Deputy Minister Do Hoang Anh Tuan asked the Ministry of Science and Technology to intervene after the Quality Assurance and Testing Center 1 (QUATEST 1) claimed ... |
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[2009-05-13] Golfing potential yet to come up to par
Golfing potential yet to come up to par
(Listed May 13, 2009)
Jeff Puchalski is a veteran golfer and a member of the elite Professional Golfers Association of America, but he has been playing most of his games in Vietnam in the last 13 years.For Puchalski, the industry clearly has huge potential, so he decided to form his own new company in Vietnam named FORE Golf Asia, a management and consulting firm specialising in golf development and operation.“Golf has been developing ... |
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[2009-05-13] Infrastructure fund to be created
Infrastructure fund to be created
(Listed May 13, 2009)
An infrastructure investment fund will likely be set up to mobilize all State and private resources to develop the country's infrastructure, according to the Ministry of Planning and Investment (MPI).This was the first time an infrastructure investment fund under the public-private partnership (PPP) model had been suggested."The purpose of establishing the f... |
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[2009-05-13] Contruction industry to benefit from simpler bidding procedures
Construction industry to benefit from simpler bidding procedures
(Listed May 13, 2009)
Viet Nam Contractors Association vice chairman Nguyen Quoc Hiep spoke to Thoi bao Ngan hang (Banking Times) newspaper about difficulties facing the construction industry.What are the advantages and disadvantages for Vietnamese contractors in the bidding process?The Bidding Law's current regulations have minimized negative impacts during the bidding process. However, it remains inadequate d... |
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[2009-05-13] Long Hau IP attracts logistics services
Long Hau IP attracts logistics services
(Listed May 13, 2009)
Many enterprises have entered Long Hau Industrial Park in the Mekong Delta province of Long An to provide logistics services for the nearby Hiep Phuoc port complex in HCMC's Nha Be District.Over 40 investors have entered Long Hau Industrial Park, occupying 80% of land in the park, with one-third of them being logistics service providers, Tran Tan Sy, customer service manager of Long Hau Jo... |
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[2009-05-12] Tough times on the horizon for developers
Tough times on the horizon for developers
(Listed May 12, 2009)
"Real estate is like a cigarette which can damage your health," Marc Townsend, managing director of CB Richard Ellis Vietnam (CBRE), made a fun comparison talking about the local property market. Like smoke, which can give excitement to a smoker, profit margin stimulates developers to invest their money in property projects, but with risks, especially now.Without exception, the global economic downturn has made d... |
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[2009-05-12] Property buyers eye City suburbs
Property buyers eye City suburbs
(Listed May 12, 2009)
Property investors, especially in HCM City, have begun to eye neighbouring provinces where prices are much lower than that in the metro.According to independent analysts, properties in Binh Duong, Long An, Tay Ninh and Dong Nai provinces have now become more attractive than those in the city.The average price of apartments and houses in residential projects in these places is 20 to 30 per cent lower than in HCM City though their in... |
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[2009-05-12] BEDC wants expressway toll fee right over 40 years
BEDC wants expressway toll fee right over 40 years
(Listed May 12, 2009)
BIDV Expressway Development Company (BEDC) has proposed to acquire the right of toll collection on the near-completion HCMC-Trung Luong Expressway over 40 years alongside other financial privileges, a source said yesterday.Under the proposal just submitted to the Government, the Bank for Investment and Development for Vietnam (BIDV) as the lead stakeholder in BEDC also petitioned that the expressway company would ... |
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[2009-05-12] Property market afloat duw to short supply
Property market afloat due to short supply
(Listed May 12, 2009)
The real estate market remains "compelling" thanks to a relatively limited amount of supply compared to demand which remains high since businesses continue to try and cut costs, says a recent report from Jones Lang LaSalle.The HCM City office market has experienced the greatest fluctuations of any sector in the past 24 months since Grade A buildings hit a peak in the middle of last year at US$86 a square metre a month. Th... |
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[2009-05-11] HCMC office, serviced apartment rentals drop on falling demand
HCMC office, serviced apartment rentals drop on falling demand
(Listed May 11, 2009)
Office rents in Ho Chi Minh City dropped in the first quarter of this year as demand continued to weaken amid the economic downturn, leading real estate services firm CB Richard Ellis (CBRE) said last week.Grade-A asking rents, for instance, have dropped 20 percent to an average of US$57.30 per square meter per month on the ground floor."Total absorption" dropped by 45 percent quarter-on-quarter a... |
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[2009-05-11] Housing market remains gloomy
Housing market remains gloomy
(Listed May 11, 2009)
The overall housing market remains gloomy with few houses being sold. Only optimism has been seen in the low-income housing market.Low-income houses selling wellMost low-income houses, especially Binh Thanh and Tan Binh districts, are changing hands at VND1.5-2.5 billion.As many as 56 houses were sold at ACB Real Estate (ACBR) in April.Pham Van Hai, ACBR general director, said people who have bought low-income houses ... |
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