Apartment in hochiminh, Work begins on deluxe, 18-storey apartment in City
Construction kicked off yesterday on a new 18-storey apartment building in Binh Thanh District in HCM City.
The US$30 million building, called the Cantavil Hoan Cau, is located on 3,600 sq.m next to Van Thanh Park.
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It should be completed in two years, offering more than 200 apartments, including 11 penthouses of 115 to 152 sq.m each.
Of the total investment, the Daewon Hoan Cau joint-venture company holds 51 per cent and the local Hoan Cau Company, the remaining 49 per cent.
Established in 1972, the Daewon group has built over 30,000 apartments, as well as road, bridge and office building projects.
In early 2005, Daewon and the Thu Duc House Development Company developed the Daewon Cantavil An Phu 1, a project of 405 apartments in District,
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to Daewon Chairman Jun Young Woo.
Daewon is also co-ordinating with local partners to build another Cantavil project in Da Nang and the West Lake New Urban Area in Ha Noi.
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In the context of larger capital pressure and low market liquidity, there is an opportunity for capable investors to purchase potential projects at bargain prices. Therefore, many real estate experts estimated that from date to year end, M&A activities in the market will be very effervescent.
Adam Bury, Associate Director, Capital Markets at CBRE Vietnam shared that, currently the number of foreign investors interested in Vietnam real estate market is rising. The second half of 2013 is forecast to see the market receive a new wave of investors, especially in the field of project assignment.
David BlackHall, CEO of VinaCapital Real Estate also said that, the real estate market in Vietnam has much potential to develop. Vietnamese enterprises have many advantages in purchasing projects with good position at reasonable prices. In the context of “frozen” market, many real estate companies lack capital to maintain activities and they are currently, Real estate ho chi minh
, Real estate ho chi minh, Property management in Vietnam, Apartment for rent, A lot of Vietnamese have been living well over the last many years by leasing houses or apartments to foreigners. They will be a magnet to many foreign investors. Many foreign investors, especially those who from Japan, the Republic of Korea, Singapore and China are searching for opportunities of purchasing offices for rent, commercial centre, while domestic investors are concentrating mainly on buying and selling living house projects.
Assessing M&A in the following time, the Vietnam’s one stop, Vietnam apartment for rent
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Saving real estate market is not “rescuing the rich"
VietNamNet Bridge – The spokesman of the Government, Minister Vu Duc Dam has confirmed that the plan to remove difficulties for the real estate market will benefit the medium and low-income earners more than the rich.
Is there group interest in the policy to rescue estate market?
Very hard to break the frozen estate market, says minister
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Chairman of the Government Office –Vu Duc Dam.
Answering correspondents at the government’s January press conference on January 29, the Chairman of the Government Office –Vu Duc Dam – said the resolution to remove difficulties for the real estate market does, Logistics services in Vietnam
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"The Government never focuses on saving the rich. The Government’s management is for economic development. The Government’s consistent priority is for the difficult subjects," Dam emphasized.
He said that in the process of solving problems for the real estate market, the Government will create, Visa on arrival Vietnam
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In fact, before making the decision on removing difficulty for this market, Prime Minister Nguyen Tan Dung worked with relevant ministries and agencies, banks and trade associations, real estate enterprises in Hanoi and Ho Chi Minh City.
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The government has assigned the Ministry of Planning and Investment to review the entire state of Vietnamese businesses, including real estate business. The Prime Minister has also asked the Ministry of Construction and big cities to assess the state of the real estate market.
According to the latest information from the Ministry of Construction, the total number of active enterprises in the construction sector is 55,870 businesses, including 7,848 real estate businesses, accounting for 14%. In 2012, the construction businesses operating at profit is 37,197; the loss-incurring number is 17,000, an increase of more than 2,000 business compared to 2011.
Statistics shows that the rate of loss-incurring construction enterprises increased sharply in 2011 and 2012, from 9,451/48,753 in 2010 (19.4%) to 14,998/48,733 in 2011 (30.8%) and 17,000/55,870 in 2012 (30.4%). That's not to mention the 2,637 businesses that ceased operations or were dissolved in 2012.
Fast food chains hunt for retail premises, real estate market warms up
Analysts, while forecasting the arrival of many foreign fast food chains in Vietnam, believe that the real estate market would warm up in the war among the chains for retail premises.
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There have been no positive forecasts about the recovery of the national economy in 2013. However, there have been a lot of pieces of news about the presence of international fast food chains in the near future in Vietnam.
Local newspapers these days repeatedly report about the plans to expand the networks of BBQ Chicken, Lotteria and Burger King. The information coincides with the result of the latest survey conducted by FTA, a market survey firm, about the Vietnamese consumption tendency.
The survey showed that the year 2013 would witness many more franchising agreements to be signed.
Woo Gil Je, Director of BBQ Vietnam, a subsidiary of Genesis Group of South Korea, said a lot of investors have contacted the company to ask for investment cooperation. The investors have expressed their willingness to set up BBQ Chicken shops in HCM City, Hanoi, Da Nang, Hai Phong and Can Tho.
The director feels satisfactory about the suggestions for