Real estate market attracts Malaysian investors

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(VEN) - Foreign investors, including Malaysian businesses, are hunting for suitable places to develop their projects. They are seeking opportunities during the crisis that has afflicted the Vietnamese real estate market. Malaysian Foreign Direct Investment (FDI) flows into Vietnam are increasing, especially in real estate. The most active Malaysian real estate investor in Vietnam is Berjaya Land Berhad, a subsidiary of the Berhad Corporation. Present in Vietnam since 2006, Berjaya has developed a large investment portfolio, with total capital invested in Vietnam amounting to about US$7.1 billion. Another Malaysian real estate investor, SP Setia, is developing the Ecolakes (Binh Duong) project with investment of nearly US$100 million and Eco Xuan-Lai Thieu with investment of US$177 million. Gamuda Land (Malaysia) has cooperated with a Vietnamese business to invest in the Celadon City project in Tan Phu District, Ho Chi Minh City. … [Read more...]

TDB Parkson shopping center gets off the ground

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van nam According to Ha Van An, general director of Thuy Duong-Duc Binh Co., TDB Parkson is developed on an area of 8,800 square meters at a cost of VND500 billion. The center comprises five floors of commercial space, one floor for cinema, and two floors for restaurants and bars. … [Read more...]

Parksom TD Plaza inaugurated in Hai Phong

Parkson TD Plaza in Hai Phong port city, a modern trade centre built with 100% of capital investment of Parkson Corporation Sdn Bhd ( Malaysia), a subsidiary of Lion Group, was inaugurated recently. The trade centre is a 4-storey building, covering an area of 18,000 square meters near Cat Bi Airport. Parkson first came to Ho Chi Minh City in June 2006 and most recently expanded to the port city of Hai Phong where it focuses on promoting business through renting stalls and department stores in this luxurious trade centre. The parent company, Lion Group, has an annual profit of more than 4.8 billion USD. It employs more than 50,000 workers worldwide, working in different sectors from steel, automobiles, agriculture product processing, wholesale, real estate and information technology. Source: HNM Translated by Hoang Anh … [Read more...]

BUSINESS IN BRIEF 1/8

Daelim gets giant refinery moving South Korea's Daelim Industrial Company is in the final steps of conducting a feasibility study to build a $3 billion mega oil refinery and petrochemical project in central Vietnam. Daelim will develop the project, in central Khanh Hoa province's Van Phong Economic Zone, through a joint venture with Vietnam's state-run Petrolimex. Nguyen Trong Hoa, director of Van Phong Economic Zone Management Authority, told VIR that Daelim would complete the feasibility study before the end of this quarter. … [Read more...]

Striving and waiting for market recovery

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HCMC ' The fact that banks are lowering lending rates brings about positive changes in the property market, offering investors a hope that buyers will gradually come back to the market in the coming time. A half year of striving Saw Kim Suan, general director of Setia Lai Thieu One Member Company Limited, said the first half of this year was the most difficult time since the Malaysia-invested firm joined the local realty market six years ago. The company saw its sales slowing down in line with the market trend due to the economic woes. … [Read more...]

Binh Duong sees better prospects

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Going beyond just a destination for land lot investment, the southern province of Binh Duong has shown itself as a destination for other segments including apartments. Small and big residential projects under way in the mammoth property project Binh Duong New City and some others in the fringe districts are offering ample business opportunities for individual investors. Some developers are pressing ahead with plans to launch their projects in the coming weeks in hope of refreshing the market which has seen another quiet year elapse. Visitors take a look at a model of the Binh Duong New City at a recent project launching event in Binh Duong Province - Photo: Dinh Dung Among those projects, Charm Engineering Co has cut a deal with a member of South Korea's retailing company Lotte Mart to open a department store in its luxury residential project named Charm Plaza to build serviced facilities for potential residents. The project, which is under development in Di An District in the … [Read more...]

Binh Duong starts work on new urban complex

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HCMC - Construction started on Monday on Becamex - Thuan An urban complex covering about 52 hectares in Lai Thieu Township of Binh Duong Province's Thuan An District, some 20 kilometers from HCMC's downtown. Investment and Industrial Development Corp., or Becamex IDC, as the project owner said nearly VND6 trillion, or over US$300 million, would be required for key components in the new urban area complex. Visitors view part of the model complex at the ground-breaking ceremony in Binh Duong Province on Monday - Photo: Quoc Hung … [Read more...]

Axe falls on southern hub property

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Some $100 million worth of Ho Chi Minh City-based property projects face having licences taken back due to long delays. illustration photo With $3.5 billion total registered capital, the Vietnam International University Township (VIUT) project developed by Berjaya Land Berhad under Malaysia-based Berjaya Corporation Berhad in Ho Chi Minh City's Hoc Mon district is Vietnam's first international-scale university-eco housing complex model. As part of Ho Chi Minh City northwest urban area the project was licenced four years ago in July 2008 and slated to kick-off construction in early 2009. However, according to a developer representative just more than VND93 billion ($4.4 million) investment had been disbursed. The project's delay reportedly came from property market doldrums and investor's limited financial capacity. In this context the Northwest Urban Area Management Unit and relevant state agencies have many times claimed Ho Chi Minh City People's Committee to take back the … [Read more...]

D2D – National Brand

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With its profound experience, acumen leadership, experienced and expert workforce, Industrial Urban Development Joint Stock Company No. 2 (D2D) is confidently affirming its solid market position as it has carried out a lot of high-quality, beautifully designed modern projects. With its continuous successes, D2D is reaching a new high and becoming a national brand. Notably, most projects undertaken by D2D are big projects in Dong Nai province, including the Road 5 linking Bien Hoa City to a 40-hectare Duong 5 residential zone, the 350-hectare Nhon Trach 2 Industrial Park, An Binh Apartment, etc. These projects bring in economic and social benefits for Dong Nai province in particular and the whole country in general. Road 5 is called a milestone project in the company history because it was voted a Top 10 event in Dong Nai province in 2005 as this road markedly improved traffic in Bien Hoa City, the heart of Dong Nai province. D2D plays a decisive role in transforming a swampy, … [Read more...]

Nhon Trach projects have mountain to climb

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Big property projects in southern Dong Nai province's Nhon Trach district are suffering delays due to incomplete infrastructure and poor market performances. The Nhon Trach roading-bridge project, linking Nhon Trach to Ho Chi Minh City's District 9 developed by Phu My Construction and Investment Joint Stock Company, was sourcing investments. Construction of Ho Chi Minh City's outer beltway 3 section crossing Ben Luc-Long Thanh expressway, Nhon Trach area and merging with Ho Chi Minh City-Trung Luong highway is yet to get underway. "The progress of property projects is poor due to the market's bad mood and incomplete infrastructure," said Nhon Trach district's urban management department deputy head Nguyen Huu Thanh. Nhon Trach was home to around 82 residential projects and 10 eco-tourism and holiday home projects, Thanh said. Many big projects, apart from Dai Phuoc Lotus eco-tourism and urban complex, are under preparation. One such project is the $6 billion East Saigon urban … [Read more...]

Southern projects drag their heels

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A snail's pace site clearance and drawn out development procedures have seen many major property projects in Ho Chi Minh City fall behind schedule. illustration photo Malaysia's Berjaya Corporation Berhad's largest project in the southern hub - the Vietnam International University Township (VIUT) is the longest standing of these problems. According to Mor Chun Lin, chief representative of Berjaya Corporation Berhad in Vietnam, as of March 2011, the project developer had received just 500 hectares of cleared land. This was up from 200ha from 2010, but there was still more than 400ha to go. He said the company had transferred compensation funds to the city's authorised agencies and was waiting for their approved compensation prices.. He added that Berjaya was also waiting for the city's approval of our proposal of developing VIUT's first 180ha instead of having to develop the whole 500ha of the current cleared land as requested by the city. We plan to first build basic … [Read more...]

Berjaya Corporation Berhad: A Leading Malaysian Investor in Vietnam

(VEN) - Berjaya Corporation Berhad has become one of the biggest Malaysian investors in Vietnam with nine large projects in many fields such as property development, five-star hotel and resort and financial services with total investment amounting over US$5 billion.The company has invested in many construction projects in VietnamBerjaya Corporation Berhad, a Malaysian diversified corporation with more than 100 subsidiaries and branches engaged in business fields such as property investment, financial services, gaming and lottery management, metropolitan infrastructure and information technology and the media. Hanoi Garden City is a project consisting of villas, a condominium, shops, a hotel, service apartments, offices and an international school, all covering a land area of approximately 32ha with infrastructure and services catering for current and future needs. It is located on the east of Hanoi, in Thach Ban Ward, Long Bien District. As part of the project, construction of Canal … [Read more...]

Berjaya Vietnam Financial Centre in HCMC

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The People's Committee of District 10 in Ho Chi Minh City has approved the Berjaya Vietnam Financial Centre project which will be developed and financed by the Berjaya Land Berhad of Malaysia. The project will have five high-rise buildings of 44 - 48 stories each including three office buildings, a five-star hotel, a service apartment building and a shopping mall. The HCMC government had issued an investment certificate to the company to build the project in the busiest area of District 10 in February 2008. Berjaya Corporation hopes that the project will bring a new urban landscape to the district with luxury facilities, a new lifestyle and meet the demands of local residents. The Berjaya Land Berhad is a subsidiary of Berjaya Corporation Berhad, a major Malaysian conglomerate which is active in financial services, consumer marketing, travel, property investment, manufacturing, education and hotels and resort development and management. … [Read more...]

Golf tourneys helps build classrooms

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HCMC - Nguyen Hoai Nam, general director of Berjaya Vietnam Operation, donated VND500 million for construction of three classrooms of Phuoc Ninh Junior High School in Quang Nam Province's Nong Son District at the closing of the Berjaya-Saigon Times Golf Tournament 2009 on Saturday. The organizing board also raised VND135 million from auction of works of Green Painting drawing contest and an ancient money collection of the Tay Son Dynasty for storm and flood victims in Phu Yen Province. The charitable auction attracted over 120 golfers who are mostly businesspeople. Berjaya Vietnam Operation general director Nguyen Hoai Nam (2nd, L) donates VND500 million for construction of three classrooms of Phuoc Ninh Junior High School in Quang Nam Province - Photo: Uyen Vien The golf tourneys marked the second anniversary of Berjaya Corporation Berhad's investment in Vietnam. The Malaysian group operates in finance, real estate and education sectors. … [Read more...]

Berjaya in deal with U.S. hotel manager

US$2-billion Nhon Trach new city project to get started next year An artist's impression of Nhon Trach New City in Dong Nai Province HCMC - Berjaya - D2D Co. Ltd., a unit of Berjaya Land Berhad, on Wednesday signed a memorandum of understanding with the U.S. hotel management company Marriott Inc. to manage a five-star hotel in the country's south. The 22-story hotel with 263 rooms is part of the broader Bien Hoa City Square project worth US$150 million which Berjaya - D2D is developing in Dong Nai Province. This hotel will be the first international lodging brand name in Dong Nai, providing quality hospitality and convention space for the province, when it is operational in 2012. Work on the Bien Hoa City Square covering nearly 2.6 hectares on Vo Thi Sau Street in the province's Bien Hoa City started in September last year. This project also comprises a 20-floor office building, a 20-floor high-end apartment building with 448 units and a three-story shopping center. Berjaya - … [Read more...]

Malaysia’s Berjaya Corp Confirms Sponsoring Dong Nai Footies

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Malaysian megafirm, Berjaya Corporation Berhad (BCB), is to become official sponsor of the fourth rank Dong Nai Football Team in 2008, confirmed a BCB representative in a press release shared with the Dong Nai People's Committee Tuesday. Berjaya Corporation Berhad and the Dong Nai Berjaya's footballers at the press conference BCB has signed a US$1-million three-year sponsorship contract, US$400,000 for 2008 and US$300,000 for 2009 and 2010 and the team is to be renamed the "Dong Nai Berjaya". BCB Vietnam General Manager Nguyen Hoai Nam said BCB was duly impressed with the performance of the Dong Nai team last season and expect even more improvement next year. At the Alphanam-Fuji Cup 2007, Dong Nai saw 12 wins, 6 draws and 8 losses and gain 42 points to Dong Nai team for a snug fourth place in final rankings. The team is also lauded for it spirit of fair and professional attitude. In preparation for the 2008 season, Dong Nai Berjaya is to welcome six new locals and one foreign … [Read more...]

Work to start on belt road next year

Le Anh According to Cuu Long Corporation for Investment, Development and Project Management of Infrastructure, the Belt Road No. 3 project will be appraised within this month so that the Ministry of Transport can pass it to the Government for approval in May. Credit contracts could be signed in June to implement Component 1A of the project in the first quarter next year. The Transport Ministry on Wednesday discussed the project with Lee Young Seob, head of the Economic Development Cooperation Fund (EDCF) under the Export-Import Bank of Korea (Korea Eximbank) in Vietnam. Nguyen Ngoc Dong, deputy minister of Transport, described the road as an urgent project, which has got the green light from the Government. The project consists of components 1A and 1B with the first stretching 8.7 kilometers and at a cost of some US$200 million, and the second 9.1 kilometers. When opened to traffic, the investors can collect tolls to get back their investment capital. According to Cuu Long … [Read more...]

Social News 15/3

Resettlement efforts for Lai Chau hydropower plant accelerating Over 1,800 of the 2,000 households living in the area designated to be the reservoir of Lai Chau hydro-power plant have been relocated to new resettlement areas in the northern mountainous province of Lai Chau. These areas in Nam Nhun and Muong Te districts have access to paved roads, schooling, electricity, power and other welfare facilities like cultural houses and medical stations. The displaced will also receive farming land to ease their transition. The remaining households will move into their new homes by the second quarter of this year, according to the provincial Department of Planning and Investment. Nearly 90 percent of the funds allocated for compensation has been disbursed, said Acting Chief of the resettlement project Tran Van Dung. Construction on the 1,200MW Lai Chau hydropower plant began in early 2011 in Nam Hang commune, Nam Nhun district, with a total investment of 35.7 trillion VND (1.7 billion … [Read more...]

HCM City to display metro train replica this weekend

The Ho Chi Minh City Management Authority for Urban Railways will put on show the train replica of the Metro Line No. 1 connecting the downtown area and Suoi Tien Park in District 9 for public viewing from March 15, The Saigon Times Daily reported. The blue train replica made of aluminum and stainless steel will be on display at Long Binh Depot in District 9 for visitors to comment on the design and colour of the train. After getting comments from local residents and experts, the city will make a final decision on the type of train used for the Metro Line No.1. As planned, Japan will hand over the first metro train to HCM City in late 2016, and 16 other trains will be transferred before the first track comes online in 2020. In June 2013, the HCM City Management Authority for Urban Railways signed an agreement worth 370 million USD with Japanese company Hitachi to buy trains and equipment for the first metro line under construction at the moment. The track consists of a … [Read more...]