VietNamNet Bridge - Vietnamese tycoons in cement and transport, steel and securities companies all have shown their interest in real estate projects recently. Nguyen Duc Thuy, the tycoon of ThaiGroup, has injected huge sums of money into the ‘golden land plots’ in Hanoi and high-end resort projects on Phu Quoc Island after he bought Kim Lien Hotel in Hanoi. The billionaire has cooperated with Hyatt Hotel Group to develop a 5-star hotel capitalized at $165 million. Thuy is well known as a giant in cement production, transport, insurance and securities investment, therefore, the information that he pours money in real estate projects is 'red hot news’. The tycoons in the south have also jumped on the bandwagon. The HCMC Infrastructure Investment JSC (CII) has set up a subsidiary specializing in making investment in real estate with the chartered capital of VND1 trillion. Vietnamese tycoons in cement and transport, steel and securities companies all have shown their … [Read more...] about Tycoons pour money into real estate gamble
Tycoon real estate investing
From Qatar, Brunei and several Middle East countries, at least six or seven corporations owned by petroleum tycoons are seeking real estate investment projects in Vietnam. The information is confirmed by CEO of CB Richard Ellis (CBRE) Vietnam Marc Towsend. In late 2006, the company started receiving Middle Eastern customers who wanted to study Vietnam’s real estate market. They were interested in all projects, especially hotels, holiday resorts and high-grade offices, said Townsend. Early this year, Kingdom Hotels Investments Group (KHI), which has prince of Saudi Arabia Alwaleed Bin Talal Abdulaziz Alsaud as its chairman, signed an agreement with Da Nang authorities on the construction of a five-star hotel in the city in 2007. KHI will replace Vegas tourism resort investor to build the five-star Raffle hotel with initial investment capital of US$60 million. The Raffle Hotel will be located on My Khe beach, with around 150 VIP rooms, 15 villas and a high-class spa zone. … [Read more...] about Oil billionaires eye Vietnam’s real estate market
VietNamNet Bridge - The plan to develop a Phu Quoc Special Economic Zone (SEZ) has prompted investors to pour money into Phu Quoc Airport. Do Quang Hien, chair of T&T Group, an investor in real estate, banking and owner of a football club, was thought to be the only buyer of Phu Quoc Airport. However, just days ago, another candidate turned up. He is Jonathan Hanh Nguyen from IPP Group, the businessman dubbed as "branded goods king of distributors".Phu Quoc is described on paper as a modern airport which meets 4E standards capable of receiving large-size aircraft like Boeing 747. However, there are other attractive factors. Dr. Bui Quang Binh from Da Nang University pointed out that the major attraction of Phu Quoc Airport is the plan to develop the Phu Quoc island district into an SEZ. Deputy Prime Minister Nguyen Xuan Phuc, at a working session in Kien Giang province on March 18, urged the provincial authorities to finish the compilation of the Phu Quoc SEZ and submit it to … [Read more...] about Why are branded-goods tycoons and real estate developers attracted to Phu Quoc Island?
VietNamNet Bridge - Vietnamese real estate developers now keep curious about what the German real estate tycoon Thomas Kramer looks for in Vietnam and where he would put his money into. Thomas Kramer is expected to come to Vietnam in July. Some sources said that the German tycoon would stay in Vietnam for six days, during which he would visit HCM City, Hue, Da Nang, the Ha Long Bay and Hanoi. He also plans to meet Vietnamese businessmen to share his investment plan in the Vietnamese real estate market. The German millionaire now has the huge asset worth $90 million. He has been well known as a successful venture investor who has accurate predictions about the real estate market prospect. Therefore, the information about the working visit of the tycoon to Vietnam has caught the special attention from the public. While some Vietnamese real estate developers say they wonder what attracts the German millionaire to a small market like Vietnam, Nguyen Dinh Tung, Director of Hanoiland, … [Read more...] about Where will the German real estate tycoon invest in Vietnam?
VietNamNet Bridge - A lot of tycoons in the real estate market were listed as the richest stock millionaires in 2007--owing to the big volumes of shares they held. However, their asset values have fallen down sharply also because of the shares. Trillions of dong in the big tycoons' assets have evaporated since the share prices keep decreasing. A report by VnExpress, which conducted an analysis in the cooperation with VnDirect Securities Company, showed that 100 best money earners can accumulate 7200 billion dong from stock investment, while 100 biggest money losers lost 7950 billion dong from stock trade deals. … [Read more...] about Real estate, bank share price falls clean out stock millionaires