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[2009-09-14] Office leasing fees may continue to decrease in Hanoi

Office leasing fees may continue to decrease in Hanoi (Listed Sept 14, 2009) There have been no signs of the recovery of the office leasing market in the capital city, while real estate consultancy firms think that office leasing fees will continue to decrease in the time to come. The global economic crisis has heavily influenced the office leasing market. According to Cenvalue, a real estate valuation firm, the average office leasing fee in the first months of 2009 decreased by 11 percent, ...
[2009-09-14] City to build supermarkets in industrial parks

City to build supermarkets in industrial parks (Listed Sept 14, 2009) Ho Chi Minh City People’s Committee met with various bodies and businesses about building supermarkets and convenience stores in industrial zones (IZs) and export processing zones (EPZs) September 11. Currently, the city has 15 IZs and EPZs, which employ around 250,000 workers. With the huge number of workers, shopping demand is large despite IZs and EPZs in the city having no supermarkets or trade centers. Nguyen Th...
[2009-09-14] World Bank provides $160 mil for Vietnam urban upgrade

World Bank provides $160 mil for Vietnam urban upgrade (Listed Sept 14, 2009) The State Bank of Vietnam and the World Bank signed a US$160 million additional credit agreement on September 10 for financing an urban upgrade project carried on simultaneously in Can Tho and Hai Phong cities, Nam Dinh province, and Ho Chi Minh City. The grant will help ease the impact of high construction-material prices and a shortage of funds. Of the amount, $128.8 million is meant for HCM City, $11.2 million f...
[2009-09-14] Beijing home price to stabilize in five years: expert

Beijing home price to stabilize in five years: expert (Listed Sept 14, 2009) Home price in Beijing would stabilize and rise moderately in next five years, Liu Xiaoguang, president and chief executive officer of Beijing-based Capital Group, said here Friday. Liu said the value of homes within the fifth ring road would appreciate with the expansion of the city and Chinese had the tradition of buying homes for the value preservation purpose. This would further push the rise of the home price i...
[2009-09-14] China’s property investment may rise by 30% in 2010

China’s property investment may rise by 30% in 2010 (Listed Sept 14, 2009) China’s property investment growth may rebound to around 30 percent next year and support the nation’s economic recovery, central bank adviser Fan Gang said. “As property developers rush to buy land and plan construction this year, investment activities will soon pick up pace,” Fan told the China CEO Forum in Beijing today. Fan is the academic member of the monetary policy committee at th...
[2009-09-12] Tricon Towers - A New Face for Hanoi

Tricon Towers - A New Face for Hanoi (Listed Sept 12, 2009) With 20 years of experience in real estate investment and sales in Asia and the US, the Minh Viet Investment Joint Stock Company (MVIC) is going to build the Tricon Towers in Hanoi. They are to be something so new and so different that they will bring a whole new look to Hanoi. Expected to cost about US$145 million and designed by RDC (Singapore), Tricon Towers is to be a serviced condominium complex built on more than 1.7 ha ...
[2009-09-12] Quality and Progress Are Top Priority

Quality and Progress Are Top Priority (Listed Sept 12, 2009) A member of the Vietnam Construction Import and Export Corporation (Vinaconex), the Vinaconex Xuan Mai Concrete and Construction Joint Stock Company (Vinaconex Xuan Mai) takes the lead in building housing for low-income people. Applying the prefabricated reinforced concrete production technology, the company has built low-priced apartment buildings in the township of Xuan Mai and the town of Vinh Yen, Vinh Phuc province....
[2009-09-12] Foreign funds for real estate market reduced to a trickle

Foreign funds for real estate market reduced to a trickle (Listed Sept 12, 2009) The withdrawal of many foreign real estate investors from Vietnam has caused rumors of worse things to ripple through the real estate market. However, the Ministry of Planning and Investment is not worrying.One year ago, concern was expressed that too much foreign direct investment (FDI) was pouring into Vietnam’s real estate.  Registered FDI in the sector amounted to 1/3 of the total FDI capital infl...
[2009-09-12] Draft property tax law is still sitting in the firing line

Draft property tax law is still sitting in the firing line (Listed Sept 12, 2009) Critics claim the law will do little to prevent real estate market speculation or increase state budget coffers. The draft law is expected to be discussed during the National Assembly’s meeting next month. It is due to be approved next May and take effect in 2011. However, after several amendments over the past few months, the draft is still triggering criticism. “Billions of dong were spent on this...
[2009-09-11] Gold stands firmly below VND22 million

Gold stands firmly below VND22 million (Listed Sept 11, 2009) Gold price in Vietnam remained below VND22 million a tael (1.2 ounces) on September 11 as the global price climbed to US$1,000 an ounce again. Gold was bought at VND21.90 million and sold at VND21.95 million at most gold shops. Gold traders said profit-taking took the upper hand in yesterday’s trading sessions as investors were afraid that the prices would fall further. Phu Quy Jewelry said it bought 70 percent more gold th...
[2009-09-11] VN-Index hits year’s new high

VN-Index hits year’s new high (Listed Sept 11, 2009) The Ho Chi Minh Stock Exchange reached its highest level of the year on Friday, despite investors dumping blue chips to book profits. VN-Index, Vietnam’s main stock index, wrapped up the week on a brighter note, gaining 7.8 points, 1.44 percent, to close at 547.99. Of the index members, 111 stocks advanced, 38 dropped and 25 were unchanged. Trading volume rose 20 percent from Thursday’s total, with around 62.1 million sha...
[2009-09-11] Vietnam central bank sees slower credit growth in 2010: report

Vietnam central bank sees slower credit growth in 2010: report (Listed Sept 11, 2009) Credit growth in Vietnam's banking system is expected to slow down next year to between 23-27 percent from 30 percent estimated this year, a local newspaper quoted State Bank Governor Nguyen Van Giau as saying. The Thoi Bao Kinh Te Vietnam on Friday quoted the governor as saying "banks' credit growth will be controlled to gradually decrease in the coming years". Giau also forecast inflation next year at aro...
[2009-09-11] HCMC needs over $300 million to cut water loss, says supplier

HCMC needs over $300 million to cut water loss, says supplier (Listed Sept 11, 2009) Ho Chi Minh City’s major water supplier says it will need over VND5.7 trillion (US$319.68 million) to halve the southern hub’s clean water loss rate by 2025. The project to cut down the rate from more than 40 percent at the moment to 25 percent will be conducted in three stages mainly by renovating old pipelines, Saigon Water Supply Corporation (SAWACO) Director General Tran Dinh Phu told a city c...
[2009-09-11] World Bank provides $160 mil for Vietnam urban upgrade

World Bank provides $160 mil for Vietnam urban upgrade (Listed Sept 11, 2009) The State Bank of Vietnam and the World Bank signed a US$160 million additional credit agreement on September 10 for financing an urban upgrade project carried on simultaneously in Can Tho and Hai Phong cities, Nam Dinh province, and Ho Chi Minh City. The grant will help ease the impact of high construction-material prices and a shortage of funds.Of the amount, $128.8 million is meant for HCM City, $11.2 million for...
[2009-09-10] Gold plunges on profit-taking

Gold plunges on profit-taking (Listed Sept 10, 2009) Bullion price fell by VND200,000 a tael (1.2 ounces) to around VND21.90 million on September 10 in Vietnam as the US$1,000 an ounce mark disappeared from the global market due to profit-taking. Saigon Jewelry bought gold at VND21.85 million and sold at VND21.90 million. At Sacombank Jewelry, gold was bought at VND21.88 million and sold at VND21.96 million. Hanoi-based gold dealers Phu Quy Jewelry and Bao Tin Minh Chau purchased the metal ...
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