Real estate top firms

An overview of Panomax River Villa project in HCM City's District 7. In the last quarter of this year, SCR will continue selling apartments in Panomax River Villa project with expected revenue of more than VND1.5 trillion. — Photo panomaxrivervilla.net Thanh Thanh Cong Investment JSC is to buy more than 16 million shares of Sai Gon Thuong Tin Real Estate JSC (SCR), equivalent to 4.7 per cent of the company’s outstanding shares. The transaction is scheduled from December 5 to December 31. Thanh Thanh Cong said the company is expected to spend VND100 billion (US$4.3 million) for the acquisition. On the stock market, SCR shares price has plunged to the bottom of the last three years since 2016. SCR closed Tuesday morning at VND5,710 per share, down 32 per cent compared to the same period last year. Since earlier this year, SCR shares have been traded with stable liquidity with an average of 2.8 million shares matched during each session. The figure for the nearest 10 sessions … [Read more...] about Thanh Thanh Cong Investment to buy 16 million shares of Sai Gon Thuong Tin Real Estate

  An overview of Panomax River Villa project in HCM City's District 7. In the last quarter of this year, SCR will continue selling apartments in Panomax River Villa project with expected revenue of more than VNĐ1.5 trillion. -- Photo panomaxrivervilla.net HÀ NỘI — Thành Thành Công Investment JSC is to buy more than 16 million shares of Sài Gòn Thương Tín Real Estate JSC (SCR), equivalent to 4.7 per cent of the company’s outstanding shares. The transaction is scheduled from December 5 to December 31. Thành Thành Công said the company is expected to spend VNĐ100 billion (US$4.3 million) for the acquisition. On the stock market, SCR shares price has plunged to the bottom of the last three years since 2016. SCR closed Tuesday morning at VNĐ5,710 per share, down 32 per cent compared to the same period last year. Since earlier this year, SCR shares have been … [Read more...] about Thành Thành Công Investment to buy 16 million shares of Sài Gòn Thương Tín Real Estate

  The Empire Group could not pay annuity for its CocoBay condotel buyers since next year. Photo vneconomy.vn HÀ NỘI – Đà Nẵng authorities need to carefully review the offer to convert the Cocobay Đà Nẵng condotel project into apartments as it could harm the city’s economic development plan, experts have said. The project developer, Thành Đô Investment Development and Construction JSC (Empire Group), had guaranteed to pay 12 per cent profit on the value of investors' condotel purchases from January 1, 2020, but has since announced it cannot fulfil this commitment due to financial woes. Condotels are often sold to investors and then leased back to the developer or an operating firm to manage rentals to holidaymakers, which is where the 12 per cent profit was supposed to come from. A lack of regulations on condotel development and ownership has also harmed the project. The … [Read more...] about Tough decisions for Da Nang over Cocobay project

Construction company Becamex IDC Corp has been cautious about this year’s business targets. Photo batdongsan.com.vn   Compiled by Thiên Lý Construction company Becamex IDC Corp has been cautious about this year’s business targets. Its consolidated turnover target is only VNĐ1.226 trillion (US$53.3 million), or 96 per cent of last year’s figure, and after-tax profit target is VNĐ252 billion, only 8 per cent higher than last year. In a document already sent to the company’s shareholders ahead of the annual general meeting, its general director, Đỗ Quang Ngôn, explained the reasons for setting such moderate growth targets. He said the real estate market is facing an imbalance between supply and demand in certain segments, and credit to the property sector is drying up. Externally, the global economy is expected to see a lot of volatility this year and likely to have a strong impact on the Vietnamese economy, he said … [Read more...] about Companies follow Government lead, set cautious growth targets

A construction permit currently takes 82 days on average to be issued in Vietnam Vietnamese Prime Minister Nguyen Xuan Phuc has requested that efforts be made to streamline the country’s administrative procedures in construction-related fields. The aim, he stressed, is to reach the average time it takes for such procedures to be done in ASEAN-4, which indicates the four most developed economies in the Association of Southeast Asian Nations. Currently, ASEAN-4 includes Singapore, Malaysia, Thailand, and the Philippines. According to the premier’s directive, which was issued last week, the combined time to go through all construction-related procedures for a single application is to be shortened from 166 days as per current regulations to 120 days. This includes the time it takes to review construction drawings and fire prevention plans, issue construction permits, approve the building’s access to utilities, and grant certificates of property ownership. Relevant … [Read more...] about ​​Vietnam to cut red tape in construction-related administrative procedures