Projects from high-rise apartments to a safari park are on the lookout for funding, Photo: Le Toan Paths to choose investors under current legal framework - Decision or written approval of investment policy (based on the laws on Investment and Housing) for projects that investors have legal land-use already. - Auction of land-use rights (based on the laws on Land Law and Property Auction) for projects located on clear land and compensated areas and projects which have assets on the site, and those assets are under state ownership. - Bidding to select investors (based on the Bidding Law) for projects located in highly-valued land areas which need to be given into selection in order to build new urban areas, commercial housing and service projects, and multi-functional complexes. - Public-private partnership (based on the Bidding Law) in cases of projects with contracts between competent state agencies and investors to construct, renovate, … [Read more...] about Ho Chi Minh City ramps up real estate
Is saigon now called ho chi minh city
Ho Chi Minh City calls for investors in 210 projects
Ho Chi Minh City, illustration photo In 2015, Emaar Properties from Dubai decided to co-develop a mammoth $1.42 billion urban area in Binh Quoi-Thanh Da of Ho Chi Minh City with domestic Bitexco Group. Despite having the requisite financial and technical capacity, Emaar Properties, however, had to withdraw from the project in 2017, after the compensation and land clearance was not completed in two years. Also impacted by the sluggish compensation and land clearance, Hongkong Land, a company under Jardine Matheson Vietnam, in 2016 had to quit from a project on a golden land plot in the city centre. Alain Cany, country chairman of Jardine Matheson Group, previously told VIR that despite the company’s tight co-operation with the city authorities, it was difficult to manage the delays caused by land clearance and compensation which also increased costs. According to Nguyen Thanh Phong, Chairman of the Ho Chi Minh City People’s Committee, improving the … [Read more...] about Ho Chi Minh City calls for investors in 210 projects
Billion dollar projects sitting idle in Saigon south
The road to the billion-dollar Saigon Pennisula project is seriously dilapidated High initial expectations The Mui Den Do theme park and modern urban development complex called Saigon Peninsula in Phu Nhuan taking up 117ha in Ho Chi Minh City’s District 7 and worth $6 billion in total investment value, evoked great hopes among city residents at its ground-breaking ceremony. According to the developer Saigon Peninsula Group JSC and the broker, Saigon Peninsula will ensure harmony between urban space and natural setting, and acting as the “green lung” of Ho Chi Minh City. Simultaneously, it will function as a multi-purpose urban development and provide ideal space to meet every need for housing, commercial office area, as well as modern and upscale entertainment in Ho Chi Minh City’s southern part. Besides, the complex also features a 600m international marina with an estimated scale reaching 4.6ha. Once completed and put into use, the marina could receive … [Read more...] about Billion dollar projects sitting idle in Saigon south
What is behind PVcomBank’s seizure of Tokyu Tower?
There is light at the end of the tunnel for apartment buyers at Tokyu Tower, which has just been seized by commercial lender PVcomBank in an attempt to tackle bad debts. The meeting between PVcomBank and apartment buyers at Tokyu Tower Few days ago, Vietnam People's Bank (PVcomBank) seized Tokyu Tower, a secured asset, to handle the financial obligations of the project developer Song Da 1.01 JSC and its exclusive distributor Hoang Vuong Trading JSC. According to PVcomBank, all remaining assets of the project have been seized, including the right to collect from apartment sales contracts and the trading centre floor, the apartments, and commercial center floor that have not yet been sold or leased. At the same time, PVcomBank also seized all property rights arising from the apartment purchase and sales contracts between Hoang Vuong Trading Company and Song Da 1.01 Joint Stock Company. Tokyu Tower is a multi-purpose building and high-end apartment complex with 51 storeys, … [Read more...] about What is behind PVcomBank’s seizure of Tokyu Tower?
Saigon brings an endless longing into play
Caroline Guiela Nguyen. Photo by Institut Francais Vietnam Caroline Guiela Nguyen is a strikingly good looking hapa, a person of mixed ethnic heritage, but her roots were a mystery to her as she grew up in France. Her new play, Saigon, is a poignant exploration of these roots. Born in 1981 to a Vietnamese mother and French father, she didn’t get to know a lot about her family’s past because her parents refused to talk about her roots in the hope that she would integrate better into French society. In fact, Vietnamese cuisine was the only link they shared and passed on to the next generation. “The love for cuisine is a mark my parents left in me. I can’t speak Vietnamese, but I can cook Vietnamese dishes very well,” the director told VnExpress. At the age of 37, Nguyen is now a permanent member of the Odéon National Theater with more than 10 years of experience. Her latest work created a big stir at the Avignon Theatre Festival last year, and has … [Read more...] about Saigon brings an endless longing into play