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[2009-12-22] China tightens control on residential housing price
China tightens control on residential housing price
(Listed Dec 22, 2009)
China is tightening its commercial land policies to help control soaring housing prices in some big cities, the Shanghai Securities News reported Friday. The Ministry of Finance and Ministry of Land and Resources announced on Thursday, that the developers must pay land transfer fees within one year of the transfer, startin with a 50 percent down payment at the time of the transaction. In some limited cases, the payment p... |
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[2009-12-22] Dorm space
Dorm space
(Listed Dec 22, 2009)
Construction has begun on 95 per cent of student housing projects funded by the Government this year, according to the Ministry of Construction. Some of these were originally planned as apartment complexes but subsequently converted into student housing projects, the ministry said. Following Government Decree No 18, issued in April on housing for students, workers and low-income families, 88 student housing projects worth VND3.5 trillion (US$200 million) were t... |
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[2009-12-22] My Dinh office towers expand, rent remains low
My Dinh office towers expand, rent remains low
(Listed Dec 22, 2009)
My Dinh office rental rates may decrease and stay at levels lower than those in the current administrative centre, according to CB Richard Ellis Vietnam, a real estate consultant center. CB Richard Ellis said that the western area of Hanoi centered in My Dinh and Tu Liem, will become the new administrative centre of Hanoi and Vietnam. Therefore, a lot of office building projects are planned, including Keangnam Hanoi Landm... |
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[2009-12-22] Condominiums worth more than half a billion US dollars to be built
Condominiums worth more than half a billion US dollars to be built
(Listed Dec 22, 2009)
Construction of a US$660-million high-class condominium complex began in Ha Dong district in southern Hanoi on December 18, which is expected to provide apartments with excellent services for the capital’s citizens, especially in its southwestern corner. The Cleve complex will have 15 high-rise buildings with more than 4,600 flats to be built on an area of nearly 66,000m2. It will include ‘smar... |
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[2009-12-21] Steel producers complain about high exchange rate, lack of access to capital
Steel producers complain about high exchange rate, lack of access to capital
(Listed Dec 21, 2009)
The increase of the dollar value against the dong has made steel producers suffer, as they have to pay in dollars to import materials for domestic production. Meanwhile, banks have refused to provide loans to curb the credit growth rate. Both these problems have caused headaches for steel producers. Commercial banks have urged businesses to pay bank debts in order to reduce outstanding loans. In ... |
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[2009-12-21] Ceiling interest rate of 10.49 percent broken
Ceiling interest rate of 10.49 percent broken
(Listed Dec 21, 2009)
Though commercial banks all quote their highest deposit interest rate at 10.49 percent, the actual interest rates they offer to clients are much higher. Banks have quietly entered a new interest rate race. Though being capped at 10.49 percent, they have found ways to apply higher interest rates. Ceiling deposit interest rate broken Businesses with idle short term capital are now being ‘hunted’ by commercial banks... |
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[2009-12-21] HCMC to auction plots of gold
HCMC to auction plots of gold
(Listed Dec 21, 2009)
Ho Chi Minh City will soon auction six of its most valuable land plots coveted by many investors, an official said. Nguyen Dac Toan, deputy head of the infrastructure development division at the Department of Planning and Investment, said the city administration has submitted its land bidding regulations to the central government for approval. Toan said the proposed regulations would be applied to the auctioning of six plots considered &... |
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[2009-12-21] Phu Quoc beach to invite bids in 2010
Phu Quoc beach to invite bids in 2010
(Listed Dec 21, 2009)
The island district of Phu Quoc will complete the master zoning of one of its sandy beach to invite bids for the tourism services by mid February next year, Saigon Times Daily reported. Phu Quoc Island Investment and Development Management Board deputy chief, Nguyen Van Hon, said the planning, being mapped out by foreign consultants, would be ready to call for investment in the Khem beach next year. “We plan to develop high-end ... |
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[2009-12-21] Chinese contractors blamed for delays in infrastructure project
Chinese contractors blamed for delays in infrastructure project
(Listed Dec 21, 2009)
Two Chinese contractors are being blamed for delaying Ho Chi Minh City’s major environmental sanitation project that began in 2001 and was scheduled for completion by June next year. A representative from the US-based consultant Camp Dresser & McKee International Inc. (CDM) said that the China State Construction Engineering Corporation (CSCEC) is in charge of the US$60.8-million contract No.10, incl... |
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[2009-12-21] HCMC retains property development promise
HCMC retains property development promise
(Listed Dec 21, 2009)
Ho Chi Minh City ranks third in the Asia Pacific region in terms of real estate development prospects for next year, behind Shanghai and Mumbai. A study released last week by PricewaterhouseCoopers (PwC) and the Urban Land Institute says the city’s development rating average is up and the ranking has dropped only one spot. The report cites industry analysts as saying that one of the driving forces behind real estate developm... |
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[2009-12-21] Homes built for displaced residents sit empty
Homes built for displaced residents sit empty
(Listed Dec 21, 2009)
Hundreds of homes built to house displaced residents along coastal areas in the Mekong delta province of Ca Mau stand vacant or have fallen into disrepair. The residents, forced to relocate after development projects encroached on their land, say the compensated homes do little good as they can’t make a living in the new areas. In Ca Mau’s Ngoc Hien District, 86 houses were constructed for residents along Rach Goc ... |
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[2009-12-17] Green houses urged at real estate forum in China
Green houses urged at real estate forum in China
(Listed Dec 17, 2009)
China's property developers were required Saturday to build energy-efficient homes in a bid to cut carbon emission. Developers should construct more compact apartments and avoid wasting space to reduce carbon dioxide emission, said Gu Yunchang, vice president of China Real Estate Research Association, at a forum held in Chengdu, capital of southwestern Sichuan Province. The developers should expand green areas in the reside... |
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[2009-12-17] Dubai's woes don't daunt investors
Dubai's woes don't daunt investors
(Listed Dec 17, 2009)
When many mega construction projects, including the world's tallest building, Dubai Tower, kept rising from the sands in the Middle East, Chinese investors had sky-high hopes about the Dubai property market. But all seem to have become a passing memory, as the global debt crunch pricked property bubbles in the emirate. "Investing in real estate was popular among Chinese businessmen in Dubai for quite a long time. No one expected the prop... |
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[2009-12-17] Downtown Hanoi land value set to escalate next year
Downtown Hanoi land value set to escalate next year
(Listed Dec 17, 2009)
Land valuation in downtown Hanoi will rise by as much as 21 percent next year, reaching the highest rate allowed in the country, officials said. Under a new proposal by the Hanoi People’s Committee, land in the city’s main commercial streets, such as Hang Ngang and Hang Dao in Hoan Kiem District, will have the highest value of VND81 million (US$4,300) per square meter in 2010. The farther away from the dow... |
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[2009-12-17] Sector’s shifting sands
Sector’s shifting sands
(Listed Dec 17, 2009)
After a few years of relative stagnation, the property investment market in Vietnam is seeing renewed activity. Whilst interest from foreign investors in the Vietnam market has been strong over the last 15 years, few international investors have actually made real commitments, particularly in the 10 years following the Asian financial crisis at the end of the last decade. At present, activity in the market is dominated by the increasing prom... |
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