Long Giang Land Corporation (HSX: LGL) has just announced its reviewed first-half financial statement, in which net loss increased 10-fold compared to the statement before review. Net revenue did not change much but costs rose sharply, resulting in VND25 billion ($1.1 million) in gross losses. Additionally, financial and corporate management costs have also been much higher, net loss also increased to VND58 billion ($2.5 million) from VND9 billion ($391,300) in the unreviewed financial statement. … [Read more...] about Real estate giants report heavy losses
Commercial real estate vs residential real estate
Real estate firms offer sky-high profit rates to attract investors
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
Shares struggle to stay positive, real estate stocks spur market
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
A 10% drop in residential prices is projected for 2020 as the unemployment rate is forecasted to reach 7%; Investment market remains subdued with 50% of deals in Q3 involving PRC buyers
Residential transactions declined in Q3 by 6% quarter-on-quarter in both primary and secondary sales markets but recorded a major increase of 30% when compared with Q3 2019. While this indicates that social and economic factors continue to impact the residential market, the unprecedented owner-occupier demand and anticipation of a post-pandemic recovery can be strong stabilizers. Among individual estates, property prices at Taikoo Shing as of August had fallen their lowest level since January 2019 while those in The Harbourside have fallen even further, and are now 10.6% below the previous trough in January 2019. Prices of popular estates are expected to fall further in the near-term. … [Read more...] about A 10% drop in residential prices is projected for 2020 as the unemployment rate is forecasted to reach 7%; Investment market remains subdued with 50% of deals in Q3 involving PRC buyers
HCMC to inspect ongoing real estate projects
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
