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The Hanoitimes - Population in Phu Quoc likely triples in 2030, resulting high demand for hospitality industry. The administration upgrading has made Phu Quoc the first island city in Vietnam, opening up an era for the locality equal in size to Singapore. The tourism-based island city is destination for upcoming real estate investment. Photo: Kiengiangtravel The move is considered a momentum for the island that is well-known for tourism, creating favorable conditions for the mushrooming of real estate projects, local experts have predicted. It triggers a question on how Phu Quoc’s real estate attractive to investors. The expertise might offer a broader view of the potential there. Dang Phuong Hang, managing director, CBRE Vietnam, said that real estate ecosystem models like hospitality will match the tourism-based island. The development of tourism will support the growth of three-pillar model namely hospitality real estate, entertainment, and high-end housing segment, she added. Phu Quoc’s real estate sector has significant room to grow thanks to youngling market, plenty of investment opportunities, and reasonable prices. In addition, well-equipped resort projects are expected to drive up the service prices. Enormous potential for real estate market is obviously seen in newly-established wards like Duong Dong and An Thoi, Hang said. "The city status will enable Phu Quoc to make master growth planning, including strategies for tourism industry. The city’s population is forecast to triple by 2030, forming elite groups that demand high-end services," Hang said. Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association (VNREA), said the three-pillar ecosystem [hospitality real estate/resort – entertainment – high-end housing segment] is the most suitable model for the island tourism city of Phu Quoc. Notably, the well-invested infrastructure and more convenient transport have fueled the increasing flows …

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On behalf of the real estate enterprises, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HOREA), said that compared to the previous year, there was an additional petition of Gamuda Land Joint Stock Company. The petition states that while waiting for the Prime Minister to decide on a VND514-billion deduction following the recommendations of the Government Inspectorate, over the past time, construction investment and business activities of the company have been stagnant, affecting the reputation and brand of this company in 10 years of operation in Vietnam. As for the matter of social housing, Mr. Le Huu Nghia, CEO of real estate developer Le Thanh, said that they were considering whether to develop social housing again. Because of too many difficult procedures, many people advised him to play safe by switching to develop commercial real estate. At the Le Thanh Tan Kien social housing project in Binh Chanh District, although the HCMC People's Committee had directly instructed to remove obstacles, after three years of implementing the project, now it backs to square one. Although the regulation for the processing time of the application by authorities is 215 days, in fact, the processing of the application can take a lot longer than that because the application must be transferred between departments and districts. Even a document from the urban management office to the district People's Committee takes several months. Moreover, although the social housing projects are invested by enterprises from start to finish, they are audited as projects using capital from the State budget. Meanwhile, the auditors are too strict. They slap them with high fines on petty mistakes, discouraging investors, Mr. Le Huu Nghia explained. Le Thanh Company is one of 20 enterprises that have petitioned the city through the summary of HOREA. This list shows that many petitions had been raised by investors at meetings with the city leaders in the past years, …

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>>> Hopes raised for conservation of world’s rarest turtle in Vietnam >>> New individual of world’s rarest turtle found in Hanoi The Hanoi Department of Agriculture and Rural Development, in collaboration with the Asian Turtle Program (ATP) of Indo-Myanmar Conservation (IMC) and the Wildlife Conservation Society (WCS) have made dramatic progress to possibly prevent the extinction of the Swinhoe’s Softshell Turtle. At a Hanoi workshop last week, scientists revealed that genetic testing has confirmed a female turtle captured last October in Dong Mo Lake in suburban Hanoi is definitively a Swinhoe’s Softshell Turtle. This confirmation means that in addition to the one known male Swinhoe’s Softshell Turtle at Suzhou Zoo in China, there is now the female captured in Dong Mo Lake. Authorities believe there is at least one more of these turtles in Dong Mo Lake and yet another in nearby Xuan Khanh Lake. Conservationists hope to at least to capture and determine the sex of the turtle in both Dong Mo and Xuan Khanh Lakes this coming spring. The mission team photographed with the giant turtle captured in October 2020. (Photo credit: ATP/IMC) Ultimately, conservationists aim to ensure at least one male and female are given a chance to breed to ensure this species can return from the brink of extinction. Nguyen Huy Dang, Deputy Director of Hanoi Department of Agriculture and Rural Development said: “This is a very important mission and it needs to be done effectively. We have been seeking advice and consultation from the Hanoi People’s Committee to promulgate guiding documents and to collaborate with international organisations to execute our development and conservation plan of rafetus swinhoei. Hanoi Department of Fisheries has been assigned to continue implementing the Plan #200 from the Hanoi People’s Committee to revive and preserve the Swinhoe’s Softshell Turtle, a rare, precious and endangered species listed in Vietnam’s Red …

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