Naples real estate market

HCMC helps real estate firms to ride out difficulties The Saigon Times HCMC chairman Nguyen Thanh Phong speaks at the meeting – PHOTO: NLD HCMC – HCMC leaders, including the city’s Chairman Nguyen Thanh Phong, Vice Chairman Le Hoa Binh and heads of departments, held a meeting with 16 real estate firms on February 27 to help them ride out their difficulties. Deputy director of the HCMC Department of Construction Huynh Thanh Khiet said the real estate supply in 2020 dropped 34% year-on-year. As investors have focused more on the up-market segment, the proportion of newly developed luxury apartments and medium apartments jumped from 25% to over 41% and from 23.8% to 57%, respectively. Meanwhile, that of budget apartments dropped from 51% to 1%. A representative of Novaland Group said some of the group’s projects are facing difficulties related to construction permits, house ownership certificates or legal procedures of the Thu Thiem new urban area. “We hope that the Government and leaders of the city and departments will help us promptly resolve problems, enabling us to speed up our projects. This will help provide more products for the real estate market, meet the demand of the citizens, improve social security and contribute to the state’s budget,” he said. Le Huu Nghia, director of Le Thanh Real Estate Company, said his company’s social housing projects have faced difficulties related to the legal procedures and tax policies. The time set for completing social housing project procedures has been shortened from between three and five years to 11 months but poor coordination between departments and districts may lengthen the process. A representative of Thao Dien Real Estate JSC said the company has completed all procedures required by the relevant agencies. However, the land has not been handed over to the company to build a social housing project over the past 10 years. Addressing the meeting, chairman of the HCMC Real Estate Association …

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FDI mainly poured in HCMC’s real estate sector in first two months By Le Hoang High-rise buildings in downtown HCMC. HCMC’s real estate sector attracts a large proportion of fresh foreign direct investments in the first two months - PHOTO: HUNG LE HCMC – In the first two months of the year, HCMC attracted only three foreign direct investment (FDI) projects with total registered capital of US$115 million, with 99.7% of the amount being injected into property projects. The HCMC Statistics Office attributed the small FDI in the period as the Covid-19 pandemic has left tremendous impact on many countries, especially those that are HCMC’s investment partners. Of the total FDI, Singapore made up 29.6% and the Netherlands, 70.1%. Besides the newly registered projects, the period saw 22 operational FDI projects in the city revising up their investment by a total of US$53.3 million. Further, foreign investors conducted 168 transactions to contribute capital and acquire stakes in local companies with a combined value of US$169.5 million. Thus, the total foreign investment in the city in the first two months was US$337.8 million, down 29.7% over the same period last year. Of the total, US$145.1 million was poured in the real estate sector, accounting for 43% of the total, followed by the science and technology sector with US$57.5 million and the processing and manufacturing sector with US$41 million. During the period, Singapore was the largest foreign investor in HCMC, making up 37.1% of the city’s total foreign investment. The Netherlands came in second with 23.9%, followed by South Korea with 13.2% and the Cayman Islands with 7.6%. According to the Ministry of Planning and Investment, the total foreign investment in the whole country in January and February reached US$5.46 billion, down 15.6% year-on-year. HCMC’s foreign investment in the two-month period was lower than that of Can Tho, Haiphong, Bac Giang, Binh Duong and Tay Ninh, while the …

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An overview of the Aqua City project developed by Novaland in the southern province of Đồng Nai. Novaland is among companies whose capitalisation is valued at billions of dollars on the market. — Photo novaland.com.vn HÀ NỘI — Việt Nam's stock market reached approximately 87.68 per cent of the country’s Gross Domestic Product (GDP) as of the end of 2020, the highest rate reported so far. The other two high rates recorded were in August 2018 at 84.57 per cent and March 2018 at 83.08 per cent. Including the government bond market and corporate bond market, the value of Việt Nam’s entire stock market by the end of 2020 exceeded 110.64 per cent of GDP, this is also the highest rate ever recorded. New cash flow continuously pouring into the market since the second half of 2020 has boosted liquidity. December 2020 and January 2021 were two months witnessing record matching value, of more than VNĐ250 trillion (US$10.8 billion) and more than VNĐ300 trillion on the Hồ Chí Minh City Stock Exchange (HoSE), respectively. However, skyrocketing liquidity has far exceeded market forecasts, leading to frequent congestion in many sessions, causing a lot of trouble for investors and affecting the quality of the market. The sudden increase in liquidity is unpredictable, causing undesired interruptions in trading, according to HoSE. To tackle this issue, the State Securities Commission said it was speeding up the implementation of a new information technology system for the entire stock market, known as KRX. The Vietnamese stock market has experienced a year of spectacular recovery from the bottom caused by the COVID-19 crisis, a trend that is in parallel with most of the major stock markets in the world. Since the bottom at the end of March 2020, the VN-Index has increased by nearly 50 per cent. Billion-dollar companies So far, the Vietnamese stock market recorded 38 companies whose value reaches billions of dollars. Vingroup is valued at $15.95 billion …

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