Boomtown real estate pricing

Investors have been invited to contribute capital to real estate projects and enjoy a profit of 36 percent per annum, and have also been persuaded to buy corporate bonds at a high interest rate of 18 percent per annum.  One real estate firm in HCM City is offering a business cooperation model to develop guest houses for rent, under which VND40 million is contributed to own one room. … [Read more...] about Real estate firms offer sky-high profit rates to attract investors

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged up 0.02 per cent to close Friday at 888.97 points. It had edged down 0.06 per cent to close Thursday at 888.82 points. More than 309.9 million shares were traded on the southern exchange, worth VNĐ5.5 trillion (US$237.9 million). Market breadth was neutral with 196 gainers and 197 decliners. According to BIDV Securities Co, market liquidity declined compared to the previous trading session, which showed that investors remained cautious as the VN-Index is approaching the 900-point mark. The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, lost 0.04 per cent to close Friday at 825.56 points. Cash flow tended run into industrial real estate stocks and construction stocks such as Investment and Construction Development Joint Stock Corporation (DIG), Đất Xanh Group (DXG), Hòa Bình Construction and Real Estate Corporation … [Read more...] about Shares struggle to stay positive, real estate stocks spur market

The net losses of Duc Long Gia Lai Group (HSX: DLG) have also increased to VND286 billion ($12.43 million) from VND257 billion ($11.17 million) in the unreviewed financial statement. This was due to financial costs rising 11 per cent as projects were temporarily suspended in the first half while other revenues decreased. Notably, corporate income tax expenses doubled to VND14 billion ($608,700). The audited statement also brought into question whether DLG can continue operating, stating that this depends on future performance as well as negotiations with owners on extending and restructuring principal, interest debt, and interest reduction. … [Read more...] about Real estate giants report heavy losses

Le Hoang Chau, chairman of the HCMC Real Estate Association, attributed the hike in the suspension of housing developers to the health crisis. He said the real estate market faced multiple difficulties from 2018 to 2019 due to the policy on strict control over property loans, shouldering an additional burden caused by Covid-19 this year. … [Read more...] about Real estate reports highest number of suspended firms

The real estate projects subject to the inspection include the commercial-service and residential complex on Nguyen Dinh Chieu Street in District 1, the Cecico apartment and office building project in Thu Duc District, the Centre Mall supermarket and commercial center project in District 6 and the Saigon East Commercial Center project in District 9, among others. … [Read more...] about HCMC to inspect ongoing real estate projects