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[2010-01-12] U.S. commercial property returns to grow in 2011
U.S. commercial property returns to grow in 2011
(Listed Fen 12, 2010)
U.S. commercial real estate investors may have to wait until next year to see their returns start to grow, as returns will likely remain in negative territory this year, according to the research arm of real estate services company CB Richard Ellis Group Inc. "The worst is behind us because (values) won't be dropping as fast," Serguei Chervachidze, CBRE Econometric Advisors (CBRE-EA) Capital Markets economist told Reuters. ... |
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[2010-01-12] Foreign investors eye Ha Noi property
Foreign investors eye Ha Noi property
(Listed Fen 12, 2010)
Foreign investors will start to shift investment from HCM City to Ha Noi this year, according to Marc Townsend, managing director of Property services and consulting firm CB Richard Ellis (CBRE) Viet Nam Co, at a real estate conference held last Wednesday in the capital. Townsend estimated that about 80 per cent of its investors’ last year capital had been poured into the market. He said foreign investors, as well as the Governm... |
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[2010-01-12] Vietnam banks to tighten consumer lending in 2010
Vietnam banks to tighten consumer lending in 2010
(Listed Fen 12, 2010)
Vietnam’s commercial banks have become more cautious with consumer lending this year as the country’s credit growth target has been set lower than 2009. According to a credit manager, interest rates on consumer loans have been set at between 16 and 17 percent a year, or around 2 percent higher than the beginning of the year. Rates on consumer loans are allowed to go beyond the cap set by the State Bank of Viet... |
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[2010-01-12] Ministry blocks new cement plants
Ministry blocks new cement plants
Thứ 3, 12/01/2010
The Ministry of Construction has asked the people’s committee in five cities not to approve any more cement plants until 2020 because of ample supplies. Viet Nam had 97 cement plants in December with capacity of producing 57.4 million tonnes annually. Another 13 plants with a total 11.7 million tonnes capacity will open this year exceeding demand by an estimated 2 million tonnes. More cement projects have already been approved for the... |
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[2010-01-12] Vietnamese buy up millionaire apartments
Vietnamese buy up millionaire apartments
Thứ 3, 12/01/2010
Many local residents were shocked to hear that a number of apartments in HCM City worth US$1 to $5 million each have been bought by Vietnamese customers recently. Novaland, developer of the Sunrise City, has reportedly offered several apartments worth between $1 and $5 million each. The five-bedroom penthouse apartments on the 35th floor of the Sunrise City building are considered sky-high villas. Prime location and luxury furnishing... |
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[2010-01-12] Ho Chi Minh City – Trung Luong expressway to be put into temporary operation
Ho Chi Minh City – Trung Luong expressway to be put into temporary operation
Thứ 3, 12/01/2010
The Prime Minister has in principle agreed that the Ministry of Transport will put the Ho Chi Minh City – Trung Luong expressway into temporary operation from February 3 in order to serve people’s travel during the 2010 Lunar New Year days. Accordingly, the Ministry of Transport should co-ordinate with the Ministry of Public Security and localities where the above-said expressway ... |
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[2010-01-12] Experts see real estate recovery on horizon
Experts see real estate recovery on horizon
Thứ 3, 12/01/2010
After a bleak year for the local real estate market in 2009, experts say there are several factors that will help end the slump in 2010. Economist Dinh The Hien said the real estate market would begin to “make waves” at the end of 2010, with profits likely to hit 40-50 percent if investors make the right decisions. Still, the market is not for every investor as it requires large investments upfront and investors also n... |
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[2010-01-11] Road networks improve in the Delta
Road networks improve in the Delta
(Listed Fen 11, 2010)
Traffic infrastructure in the Cuu Long (Mekong) Delta improved greatly in the last four years following the implementation of a Government programme, the Ministry of Transportation said. The road network, especially, has developed as laid out, according to Ngo Thinh Duc, transport deputy minister. The airport network is well planned to ensure the region is closely connected with international airports. Airports are built evenly in key ec... |
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[2010-01-11] Thu Thiem Tunnel sections undergoes safety testing
Thu Thiem Tunnel sections undergoes safety testing
(Listed Fen 11, 2010)
The managing board of the Ho Chi Minh City East-West Highway and Water Environment project pumped water into sections of the Thu Thiem Tunnel January 6 to test whether it is damp-proof. Board Director Luong Minh Phuc said after pumping water through the tunnel for two days at a height of 5 meters, water will then be pumped to fully flood the tunnel sections to test for leakage or weakness. The State Appraisal Committee fo... |
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[2010-01-11] HCMC aims to be multifunctional hub by 2025
HCMC aims to be multifunctional hub by 2025
(Listed Fen 11, 2010)
Ho Chi Minh City is set to become an industrial, service, scientific and technological hub in Southeast Asia by 2025, according to a revised master building and development plan for the city recently approved by Prime Minister Nguyen Tan Dung. The development of HCM City will be carried out in harmony with that of its seven neighboring provinces: Binh Duong, Binh Phuoc, Tay Ninh, Long An, Dong Nai, Ba Ria-Vung Tau, and Tien Gian... |
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[2010-01-07] High-end property falls in Big Apple
High-end property falls in Big Apple
(Listed Fen 07, 2010)
Manhattan apartment prices fell for a third consecutive quarter as Wall Street job losses drained demand and the decline in co-op and condominium values reached 21 percent since the market peak. The median price slid 10 percent to $810,000 in the fourth quarter from a year earlier, down from almost $1.03 million in 2008, New York appraiser Miller Samuel Inc and broker Prudential Douglas Elliman Real Estate said. The number of sales ju... |
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[2010-01-07] Glass and steel producers threatening to raise prices following fuel price hike
Glass and steel producers threatening to raise prices following fuel price hike
(Listed Fen 07, 2010)
Glass and steel producers are warning that the mazut price increase will make production costs higher and force them to raise prices. Petrolimex has decided to raise the mazut, a fuel oil, price by 400 dong per kilogram from January 4, 2010. Following the decision, the sale price in zone 1 is now 13,200 dong per kilo for 3S and 13,000 dong for 3.5S products. Deputy general director of Petrolim... |
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[2010-01-07] Capital land prices increase up to 40%
Capital land prices increase up to 40%
(Listed Fen 07, 2010)
The Ha Noi People's Committee has set a new land price framework for more than 1,100 streets in 29 districts and wards in the Capital. The new prices will be applied as of January 1 this year to calculate tax on land use, land use right transfers and compensation in cases of land retreated by the government. Within the new framework, maximum land prices will rise from VND67 million (US$3,600) per sq.m to VND81 million ($4,400) pe... |
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[2010-01-07] Investors urged to get insurance
Investors urged to get insurance
(Listed Fen 07, 2010)
Investors or bidders should buy insurance for their projects and take out third-party cover like other countries, said Nguyen Van Hiep, HCM City Construction Department deputy director. Residential housing in Linh Dam Area in Hoang Mai District of Ha Noi. Construction experts suggest to make it compulsory for investors to buy project insurance. The Government should make this compulsory to protect users in the long term, Hiep said. "That m... |
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[2010-01-06] Around VND 15 trillion to invest in basic construction of transport sector
Around VND 15 trillion to invest in basic construction of transport sector
(Listed Fen 06, 2010)
Around VND 15 trillion will be invested and disbursed in the field of basic construction of the transport sector this year, said the Ministry of Transport. It is expected that around 550 kilometres of roads and nearly 19 kilometres of bridges will be built, upgraded and expanded this year. The rural transport programme will continue to be deployed with around 300 communes without motorised roads to... |
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