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[2009-12-28] Largest shopping mall opens in HCM City
Largest shopping mall opens in HCM City
(Listed Dec 28, 2009)
Parkson Flemington, the largest shopping mall in Vietnam covering 26,000sq.m, opened its doors in HCM City’s District 11 on December 25. The US$10 million six-floor mall, owned by Thuy Duong Company, provides space for more than 130 brands of garments, footwear, cosmetics and jewellery, with local names representing 30-40 percent, said Tham Tuck Choy, general director of Malaysian-owned Parkson Vietnam, whose affiliate Parks... |
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[2009-12-28] Spain to fund expansion of HCMC metro
Spain to fund expansion of HCMC metro
(Listed Dec 28, 2009)
Spain will provide up to US$700 million to help finance the expansion of the planned metro in Ho Chi Minh City in Vietnam, it was announced Tuesday. Under a memorandum of understanding signed by Spain’s Industry Minister Miguel Sebastian and Vietnam’s Deputy Prime.Minister Pham Gia Khiem, the funds will be provided “once viability studies are complete and reliable budget estimates are available.” Spain has al... |
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[2009-12-28] PIT on property assignment may have single rate of two percent
PIT on property assignment may have single rate of two percent
(Listed Dec 28, 2009)
The Ministry of Finance is considering imposing a single personal income tax (PIT) rate of two percent on the value of assigned real estate instead of applying two tax rates for two ways of tax calculation. Under the circular on PIT on real estate assignment promulgated by the Ministry of Finance, there are two ways to pay tax. Those selling property are imposed either a 25 percent tax on the profit from the a... |
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[2009-12-26] Middle East region holds promise for real estate development potential
Middle East region holds promise for real estate development potential
(Listed Dec 26, 2009)
Countries in the Middle East and North Africa region are seeing an improvement in their real estate potential despite the economic downturn, according to a new report. The United Arab Emirates has risen significantly from 31st to 18th place in the 2010 Real Estate Global Opportunity Index from consultants AT Kearney which focuses on emerging markets. Saudi Arabia is in fourth place and Egypt has moved ... |
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[2009-12-26] Construction of Bach Ho bridge starts
Construction of Bach Ho bridge starts
(Listed Dec 26, 2009)
The construction of the Bach Ho (White Tiger) bridge spanning the Huong (Perfume) River commenced in Thua Thien – Hue province on December 22, with a total investment of VND 673 billion. The bridge, 542 metres in length and 24.5 metres in width has a fine art lighting system and six gazeboes so that people can enjoy the scenery of the Huong river. This is a work of significance to make an active contribution to the local socio-e... |
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[2009-12-26] Real estate investors anticipate 2010 recovery
Real estate investors anticipate 2010 recovery
(Listed Dec 26, 2009)
A series of real estate projects have kicked off in the last days of 2009 since investors foresee the strong recovery of the real estate market in 2010. In December alone, Hanoi’s real estate market saw nearly ten real estate projects begin. December 17 and 18 were considered “auspicious days” by real estate investors, so four projects kicked off at the same time (the Green House project, six 5-17 storey ap... |
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[2009-12-26] Taiwan firms to restart huge steel project
Taiwan firms to restart huge steel project
(Listed Dec 26, 2009)
Taiwan Guang Lian Steel (Vietnam) Co., Ltd. has said it will resume a long-stalled US$3-billion steel mill project in the central province of Quang Ngai in the first quarter of next year. The financial problem faced by the project in the Dung Quat Economic Zone has been solved after suppliers of equipment and a lender bank have visited the project site, the zone's authority said on Tuesday. The company has put the project on hold... |
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[2009-12-26] Hai Phong gets $1.5bil new town
Hai Phong gets $1.5bil new town
(Listed Dec 26, 2009)
A ground breaking ceremony for a new residential project in the northern port city of Hai Phong with a capital investment of VND29 trillion (US$1.5 billion) was held yesterday, December 24. The complex sits in an area of 78.5ha of the former Hai Phong cement plant at the T junction of the Cam River - an intersection between Highway 5, the Ha Noi-Hai Phong railway line and the waterways and airways connecting the "new town" with other locali... |
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[2009-12-26] FDI flow into HCMC falls 86% in 2009
FDI flow into HCMC falls 86% in 2009
(Listed Dec 26, 2009)
The inflow of foreign direct investment (FDI) into the city in 2009 fell by a sharp 86% against last year to just over US$1.2 billion, according to the city's Department of Planning and Investment. The department reported that nearly 370 foreign-invested projects had been licensed this year with US$840 million in committed capital, falling by 28% and nearly 90% respectively against last year. Last year, many projects worth billions of ... |
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[2009-12-24] U.K. lodging brand to open first property in Vietnam
U.K. lodging brand to open first property in Vietnam
(Listed Dec 24, 2009)
Global hotel operator InterContinental Hotels Group will open its first property under the renowned lodging brand Holiday Inn Hotels and Resorts in Vietnam at a commercial complex in Hanoi by 2013. The 332-room Holiday Inn Hotel will be part of the MB Land Tower to be built early next year at 6-8 Chua Boc Street in the capital city, according to the project’s developer, the MB Land Joint Stock Company. The projec... |
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[2009-12-23] U.S. property faces long road to recovery
U.S. property faces long road to recovery
(Listed Dec 23, 2009)
U.S. commercial real estate faces a long, slow road to recovery that is more than a year away for most types of property, with Washington policy-makers increasingly pulling the strings that affect prices, according to a survey commissioned by PricewaterhouseCoopers. The recovery of commercial real estate is not expected to gain much traction until late 2011 or 2012, given current prospects for a lackluster economic revival in the ... |
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[2009-12-23] Gloomy FDI prospects cloud fast recovery
Gloomy FDI prospects cloud fast recovery
(Listed Dec 23, 2009)
Despite the recovering global economy, provincial authorities remain concerned at the dark clouds gathering over next year’s foreign direct investment horizon. A dearth of credit due to cautious banks and fundamental constraints to the country’s investment environment such as land clearance, poor infrastructure and red tape have been cited as barriers. “Foreign investors will still see difficulties in mobilising f... |
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[2009-12-23] Hanoi property sector goes into hibernation
Hanoi property sector goes into hibernation
(Listed Dec 23, 2009)
This is because the market has been dominated by short-term speculators, not real buyers. Hanoi’s residential market has become dormant after a recent transaction frenzy. Thanh Thuy investigates. It’s a striking contrast. A month ago buyers were competing with each other in lucky draws for the rights to purchase an apartment among the 700 units in Duong Noi New Township sold by the Nam Cuong Group. Then, nearly two w... |
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[2009-12-23] Work begins on Bach Dang Hotel Complex
Work begins on Bach Dang Hotel Complex(Listed Dec 23, 2009)
The High Command of Military Zone 5 and the company 508 yesterday started the construction of the Bach Dang Hotel Complex on an area of over 6,900 square metres at 50 Bach Dang, Hai Chau district, Da Nang city. The VND 620 billion Hotel Complex will have been completed by 2012. The complex includes a 4-star 28 storey hotel tower, a 20 storey apartment and office tower for lease.The complex aims to serve entrepreneurs and experts as w... |
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[2009-12-23] Construction of Noi Bai – Lao Cai highway section commences
Construction of Noi Bai – Lao Cai highway section commences
(Listed Dec 23, 2009)
The construction of the Noi Bai – Lao Cai highway section through Van Yen district (Yen Bai province) has started. The road section, nearly 40 kilometres in length, 24 metres in road-bed, has four lanes. According to the VND 2.41 trillion bid package A6, 18 bridge-related works with a total length of nearly 2 kilometres, a service station and a bus station will be built on this road section. The abov... |
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