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[2009-09-08] China’s property investment may rise by 30% in 2010

China’s property investment may rise by 30% in 2010 (Listed Sept 08, 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 the ...
[2009-09-08] New Zealand home sales rebound on rate cuts

New Zealand home sales rebound on rate cuts (Listed Sept 08, 2009) New Zealand’s combination of record- low interest rates and rising consumer confidence have sparked resurgence in the property market. The Chart of the Day shows the Reserve Bank of New Zealand’s interest-rate cuts totaling 5.75 percentage points between July 2008 and April this year have helped spark increases in house prices and reduced the time taken to sell a property. The central bank’s official cash rate...
[2009-09-08] Shanghai second-hand housing trading declines

Shanghai second-hand housing trading declines (Listed Sept 08, 2009) The total trading volume of second-hand housing in Shanghai continued to decline in August, after dropping steadily during July, the Oriental Morning Post reported Monday. The average price of a second-hand house decreased slightly in August, ending a price rally over the past 10 months. This marks the first time this year that both trading volume and prices slid, the newspaper said. The drops indicate that Shanghai's second-...
[2009-09-07] Real estate expo to aid local housing market

Real estate expo to aid local housing market (Listed Sept 07, 2009) The city’s real estate market may be helped by an upcoming exhibition hosted by the An Loc Phuc Architecture-Trading Model from September 20 to 24 at the Phu Tho Indoor Sports Stadium, District 11. It is part of the second phase of the popular Vietbuild Fair 2009. The “Special subject exhibition about An Loc Phuc Living Space” features various housing ideas, including construction, building materia...
[2009-09-07] Gold price peaks on new high

Gold price peaks on new high (Listed Sept 07, 2009) Gold in Vietnam topped a historic high at VND21.75 million a tael (US$1,176) on September 5 as global gold prices continued to rise as the dollar dropped, prompting investors to seek the metal as an alternative asset. At most gold shops, bullion was bought at VND21.65 million – VND21.70 million and sold at VND21.75 million, a rise of VND50,000 than the previous day. As bullion price reached a record high, most investors sold gold to t...
[2009-09-07] Highland region gets a shot in the arm

Highland region gets a shot in the arm (Listed Sept 07, 2009) More than 120 commercial and other projects were registered to the Central Highlands on Saturday at an investment forum where officials called for more efforts to help the underdeveloped region realize its potential. Sixty of the projects are for processing farm produce and timber, 20 are for manufacturing, and 24 are tourism-related. The “Investment Promotion Forum into the Central Highlands”, an event that Deputy Pr...
[2009-09-07] August credit growth slows to 1.75 percent

August credit growth slows to 1.75 percent (Listed Sept 07, 2009) Credit rose just 1.75 percent in August over a month earlier as most of the government’s loan-subsidy program has already been used. In a monthly review posted on its website Friday, the central bank said that dong loans in August grew 1.79 percent compared to the end of July while dollar credit was up 1.52 percent. Credit demand eased from a 2.15 percent growth in July. As of September 3, local banks had lent out VND3...
[2009-09-07] Steel prices expected to keep rising

Steel prices expected to keep rising (Listed Sept 07, 2009) Steel prices will continue to increase up to the end of this year due to the rising cost of pig iron on the global market, the Viet Nam Steel Association said at a seminar in Ha Noi yesterday. The conference aimed to devise a specific steel industry development plan for next year and a master plan for the period 2011-15. According to the association, steel prices will keep rising this year, but at a modest rate. In the first few mont...
[2009-09-07] Bankers press for phase out of interest rate subsidies

Bankers press for phase out of interest rate subsidies (Listed Sept 07, 2009) Though businesses hope to enjoy another interest rate subsidy package when the current programme ends, bankers and economists believe that it is time to scale down the subsidy and limit eligibility for the preferential loans. Many businesses feel worried now, says Dr. Dinh Trong Thinh. The Government’s interest rate subsidy program is scheduled to end at the end of the year, but they still cannot find other cap...
[2009-09-06] City’s industrial production twinkles

City’s industrial production twinkles (Listed Sept 06, 2009)  In spite of economic difficulties, industrial production in Ho Chi Minh City in August saw a good growth rate, the city’s Department of Industry and Trade recently said. The Industrial production value in the State-run sector gained over VND1.5 trillion, 5.7 percent higher than that of July. Meanwhile, the value of the private sector hit VND16.74 trillion, an increase of 4.4 percent over the previous month. The f...
[2009-09-06] U.S. commercial property boom decades away

U.S. commercial property boom decades away (Listed Sept 06, 2009) The level of U.S. commercial real estate deals seen in the boom years of 2005 through 2007 may take a generation to return, according to a report by real estate services company Jones Lang LaSalle Inc.U.S. commercial real estate sales in the first half of 2009 totaled $16 billion, down 80 percent from the same period a year earlier and off 93 percent from the market peak of $231.4 billion in the first half of 2007, according to ...
[2009-09-06] Abu Dhabi property prices to rise before Dubai

Abu Dhabi property prices to rise before Dubai (Listed Sept 06, 2009) Real estate prices in Abu Dhabi, the United Arab Emirates’ capital and wealthiest of its seven emirates, will recover before those in Dubai because of a shortage in housing and office space, JPMorgan Chase & Co. said.“While large scale Dubai projects hang in the balance, Abu Dhabi’s real estate, infrastructure and commercial project pipeline remains nearly intact,” JPMorgan said in an e-mailed rep...
[2009-09-05] City starts work on 4,200 apartments for resettlement

City starts work on 4,200 apartments for resettlement (Listed Sept 05, 2009) Ho Chi Minh City's Department of Construction and the Management Board of Thu Thiem New Urban Area broke ground on Thursday for a resettlement project to build 4,200 apartments in Binh Khanh Ward, District 2.This is one of the three major resettlement projects of the city's program to build 12,500 apartments for displaced families in Thu Thiem.City Party chief Le Thanh Hai, Minister of Construction Nguyen Hong Quan, c...
[2009-09-05] City to hold expo for Indochina tourism

City to hold expo for Indochina tourism (Listed Sept 05, 2009) Ho Chi Minh City’s Department of Culture, Sports and Tourism will work with tourist agencies to hold an international tourism investment conference, which will present Cambodia, Laos and Vietnam as destinations, on September 30 and October 1. The Tourism Investment Conference 2009 (TIC) will be a chance for cities and provinces in the country to introduce their major tourism projects to more than 100 international investo...
[2009-09-05] Maritime Bank exceeds 2009 profit target

Maritime Bank exceeds 2009 profit target (Listed Sept 05, 2009) Maritime Bank said its pre-tax profit until the end of August was 10% higher the full year target of VND600 billion (about US$35.3 million). The bank said the profit was equal to 244 percent of the same period of last year. Maritime Bank finalized its full year target during its shareholders meeting this April, when the Vietnamese economy still saw more difficulties due to the global downturn than now. Analysts said bankers in ...
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