Michael Piro, COO of Indochina Capital How do you see the real estate market in Vietnam shaping up as of late? Overall, the market is in fairly good health, considering it has had a relatively strong run. We have seen most sectors grow, especially with strong demand in the apartment market. Apart from that, we have seen the hospitality and retail segments maintain their relatively good performance over the last few quarters. The market is in much better shape compared to 10-12 years ago, when times were difficult for developers. Now, we see more stable growth in the market based on a fundamentally strong economy, growing foreign direct investment (FDI), inflation that is seemingly under control, and a relatively stable currency. Vietnam is one of the fastest-rising economies in the whole world, and many foreigners have either already picked up on that fact or have begun to. The market is full of potential and I am really interested in finding out where it can go. What have … [Read more...] about Excitement rises in Vietnam’s real estate
International investors in us real estate
Global investors eye Vietnam’s real estate market
Global investors eye Vietnam’s real estate market. (Photo: VNA) Hanoi (VNA) – Foreign investors cannot take their eyes off the Vietnamese real estate market, one of the most dynamic emerging markets globally, according to an article by regional managing director, Southeast Asia, CBRE Vikram Kohli on www.bussinesstimes.com.sg. “Driving its strong economic growth is an expanding middle class with thickening wallets,” the article said, adding that rapid urbanisation is supported by a young, growing and educated population, and all bode well for an economy with one of the world’s fastest growing gross domestic product (GDP) rate. In addition, the World Bank has projected that Vietnam’s GDP will expand by 6.8 percent this year, fuelling big appetites of global investors looking to make their mark in Vietnam’s burgeoning property market. In the past three years, Vietnam has seen a significant increase in the number of foreign investments in … [Read more...] about Global investors eye Vietnam’s real estate market
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
US real estate firm makes surprise return to Vietnam
By Ha Thanh  August 8, 2018 | 08:39 am GMT+7 A MGM Grand sign seen in Las Vegas, Nevada, U.S. Photo by Reuters/Lucy Nicholson It left with no explanation, and there is no explanation about an unexpected return by MGM Resorts International to Vietnam. MGM had withdrawn from a $4.2 billion project in March 2013 without saying why, but seems to have encountered no difficulty in returning with a new investment project. The global hospitality and entertainment company will now be a part of a new resort project near travel hot spot Hoi An in central Vietnam. MGM will partner with Vietnamese real estate firm Bamboo Capital in managing the VND2 trillion ($86 million) Malibu Resort Hoi An on Ha My beach. MGM would have managed the first resort on the Ho Tram Strip project in the southern Ba Ria – Vung Tau province, had it not broken a deal with the Canada-based Asian Coast Development Ltd (ACDL) which was the project’s main investor. It didn’t give a … [Read more...] about US real estate firm makes surprise return to Vietnam
Real estate fertile ground for foreign investors
There has been something of a real estate “fever” in recent times at the Thu Thiem Urban Area, the proposed new CBD and mixed-used urban area in Ho Chi Minh City’s District 2 and which is set to become the largest inner-city development in Southeast Asia. Investment into the urban area has been strong over the last few years, with a host of both local and foreign real estate developers seizing the opportunities on offer. Vietnam’s real estate market attracted $5.54 billion in FDI in the first half of this year, accounting for 27.25 per cent of total investment into the country, according to the General Statistics Office (GSO). 2018 marks ten years since the last real estate downturn and nearly five years of recovery. “Given that monetary policies are expected to stay neutral-to-accommodative to support growth when FDI inflows in the hundreds of millions of dollars are poised to enter the real estate market, the market is expected to continue stabilizing … [Read more...] about Real estate fertile ground for foreign investors