A building near Bến Thành Market in downtown HCM City whose construction stopped at the end of last year. The property market slump is expected to continue until the end of 2024. — VNS Photo Bồ Xuân Hiệp Despite the Government’s efforts to address them, the challenges for the property market will continue until the end of next year, experts have warned. Speaking at a forum late last week, Nguyễn Văn Đính, chairman of the Việt Nam Real Estate Brokers Association, said the market would continue to struggle with limited access to capital, legal bottlenecks and companies’ inability to redeem bonds. A recent survey by his association found over 70 per cent of businesses saying Government policies aimed at resolving funding difficulties have not been effective, he said. Real estate transactions have plummeted by 90 per cent in 2022-23, indicating weak market demand, he said. Even after almost five months since its announcement, the Government’s VNĐ120 trillion credit package has … [Read more...] about Real estate market challenges to continue until end of 2024: experts
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Realty firms look to raise capital via bonds
A condotel project developed by Nam Long Investment Joint Stock Company (NLG). NLG has approved a plan to issue corporate bonds with a maximum total value of VNĐ500 billion, expected to be implemented in the third quarter of this year. — Photo courtesy of NLG Real estate companies are continuously announcing plans to issue bonds to raise capital. The Board of Directors of Nam Long Investment Joint Stock Company (NLG) on September 19 approved a plan to issue corporate bonds with a maximum total value of VNĐ500 billion (US$21.2 million), expected to be implemented in the third quarter of this year. The bond lot is a non-convertible bond, with a term of five years, without warrants, with an expected interest rate of 9.6 per cent per year. With the proceeds, Nam Long will use them to invest in the Nam Long 2 Residential Area project in Nam Cần Thơ Urban Area, Cần Thơ City. The project has a total investment capital of VNĐ500 billion; total area of 43.8 hectares. In mid-February … [Read more...] about Realty firms look to raise capital via bonds
Phuc Khang applies green building standards to reduce carbon emissions
To date, carbon emissions from building operations have reached an all-time high of around 10 gigatons of CO 2 . This figure is an increase of about 5 per cent compared to 2020 and 2 per cent higher than the previous peak in 2019. Therefore, reducing carbon emissions in construction projects plays an essential role in achieving an overall reduction. The World Green Building Council (WGBC) has developed a vision and action framework up to 2030. In particular, all newly built construction projects must have zero operational carbon and reduce their associated energy by 40 per cent in terms of embodied carbon. By 2050, all buildings (both existing and new) must achieve-zero operational carbon, with new constructions having to achieve zero carbon content. Measured over the entire life cycle of the building, a zero-carbon construction is one with zero operating and zero embodied carbon. Diamond Lotus Riverside by PKP has been researched and applied many strategies to reduce … [Read more...] about Phuc Khang applies green building standards to reduce carbon emissions
Gamuda Land paves the way for students with 2023 Scholarship Award
The programme received more than 100 applicants nationwide, including students from the National Economics University, Hanoi Architectural University, University of Architecture Ho Chi Minh City, University of Technology, and Vietnam National University Ho Chi Minh City. Angus Liew, chairman of Gamuda Land Vietnam, giving his opening speech at the Gamuda Scholarship Ceremony 2023 Speaking at the event, chairman of Gamuda Land Vietnam Angus Liew said that as a responsible developer, the company knows how a quality education remains a privilege for many. This is why Gamuda Land aims to empower talented, economically disadvantaged students. "For the past 27 years, Gamuda Land has granted scholarships in Malaysia, but this is the first year the initiative has been extended in Vietnam. We want to make this an annual offering to continue providing a nurturing platform for future talent in Vietnam," Liew said. Nguyen Minh Nhut, deputy of the Social and … [Read more...] about Gamuda Land paves the way for students with 2023 Scholarship Award
Vietnam news in brief – September 26
Check out the latest news about Vietnam. European Commission to inspect IUU fishing in Vietnam A delegation from the European Commission (EC) will visit Vietnam on October 10-18 to work with Vietnamese authorities on efforts to prevent illegal, unreported and unregulated (IUU) fishing , the Ministry of Agriculture and Rural Development said on September 25. A high-level dialogue session between the Ministry of Agriculture and Rural Development and the EC working group will take place on October 18, 2023 to discuss the findings of the inspection. Delegates attend the opening ceremony of the Vietnamese Goods Week in Paris. Photo: VNA Vietnamese products promoted at Frech Système U supermarket chain A delegation of 15 Vietnamese enterprises in agriculture, food, and textile industries are promoting their products at the Système U supermarket chain in France as part of the Vietnamese Goods Week in France. The event was inaugurated on September 25 in … [Read more...] about Vietnam news in brief – September 26