Phu My Hung Urban Area in District 7 of HCM City (Photo: VNA) HCM City (VNA) – The flow of foreign direct investment (FDI) into real estate in Ho Chi Minh City has followed the same trend as with the FDI movement into the country, with the property sector always among the top FDI recipients in recent years. HCM City has taken the lead in FDI attraction over the last three decades since Vietnam opened its economy to the world, and real estate is one of the sectors receiving most foreign investment. Among major deals recently, Lotte Group of the Republic of Korea has finalised procedures to invest 20.1 trillion VND (855.6 million USD) in a project named Thu Thiem Eco Smart City in the Thu Thiem New Urban Area in District 2. Also in this urban area, the Empire City Tower project with total capital of 1.2 billion USD is now under construction and expected to complete in 2022. It is invested by a joint venture of two Vietnamese companies and the Denver Power Ltd of the UK. … [Read more...] about Real estate in HCM City holds great appeal for foreign investors
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More foreign investors eye Vietnam’s real estate market
The Hanoitimes - Interest of foreign investors in the country’s real estate is rising significantly with the market seeing more large-sized projects underway in recent months. During a recent working session with Ho Chi Minh City’s leaders, CEO of Lotte Asset Development Lee Kwang Young released plans to start construction of a smart complex in the Thu Thiem new urban area in the city’s District 2. The smart complex, covering 7.54 hectares, is set to cost VND20.1 trillion (US$885.5 million), excluding compensation and site clearance expenses. Vietnam expects to attract foreign investors in all sectors of the property market Also in Thu Thiem, Empire City project is under implementation with an investment capital of $1.2 billion. The project is developed by a 50/50 joint venture between two Vietnamese companies - Tien Phuoc Real Estate JSC and Tran Thai Real Estate Co Ltd, and one foreign partner – Denver Power Ltd. South Korea’s Daewon Thu Duc … [Read more...] about More foreign investors eye Vietnam’s real estate market
Bản in : Foreign capital pours into real estate in HCM City
Foreign firms have pumped hundreds of millions of US dollars into numerous real estate projects in Ho Chi Minh City as of late, attributed to an upswing in the real estate market after a long period of hibernation. On July 26, the Japanese Creed Group Fund announced its intent to pour 200 million USD into the local An Gia Real Estate Investment and Development JSC (An Gia Investment) to purchase stocks and run housing investment projects to supply Japanese-quality products in HCM City. Founder and Managing Director of the Creed Group Toshihiko Muneyoshi said 200 million USD is just an initial step in the cooperation between the two countries, adding that if the real estate market in Vietnam develops, the group will continue to pump into hundreds of millions of US dollars into the market. He added that since 2011, the Creed Group has shifted its investments to Asia with about 5,000 apartments worth over 300 million USD. Considering the real estate in HCM City in particular to be a … [Read more...] about Bản in : Foreign capital pours into real estate in HCM City
Work to begin on three huge projects in Thu Thiem in 2016
Work to begin on three huge projects in Thu Thiem in 2016 Van Nam By Van Nam - The Saigon Times Daily An artist’s impression of Thu Thiem New Urban Area in HCMC’s District 2. Investors are expected to start work next year on three major projects in Thu Thiem New Urban Area with total investment capital amounting to more than US$3.5 billion - PHOTO: THU THIEM ICA HCMC – Investors are expected to start work next year on three major projects in HCMC’s Thu Thiem New Urban Area with total investment capital amounting to more than US$3.5 billion. The city government said in a report sent to the central Government Office and relevant ministries last Monday that the three projects are Song Viet commercial center, Eco Smart City, and Thu Thiem observatory tower. Quoc Loc Phat JSC will invest VND7.06 trillion (around US$314 million) in the Song Viet international commercial center along the Saigon River and just opposite Bach Dang Wharf in District 1. A … [Read more...] about Work to begin on three huge projects in Thu Thiem in 2016
Over $1.2bn in FDI channeled into Vietnam realty sector in July
More than US$1.2 billion in foreign direct investment (FDI) was channeled into the real estate industry in Vietnam in July, bringing the total figure in the first seven months of this year to $1.69 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment. About $1.22 billion was poured into the real estate sector last month, which nearly tripled the total capital flowing into the industry in the January-June period, at $465.5 million, the agency said. This resulted from the effect of the new housing law paving the way for foreign individuals and organizations to own properties in Vietnam in the long run. With the July figure, foreign investment flows into the realty sector accounted for 19.3 percent of the total FDI making its way to the Southeast Asian country in the first seven months, the agency said, adding that the realty FDI ranked second after that in the processing-manufacturing sector. The largest contribution to the newly … [Read more...] about Over $1.2bn in FDI channeled into Vietnam realty sector in July