Hong Kong firm invests in high-end HCM City apartment
(Mar 02, 2015)
Hong Kong-based private-equity, real estate and financial investment
player Hamon Group and Vietnamese property company SonKim Land have last
week signed an agreement to develop a high-end property project in HCM
City's in District 2 called Gateway Thao Dien.
The Ministry of Construction has proposed that the maximum area of
social housing apartments be raised to 90 square metres (sq.m.) from the
The Ha Noi Department of Construction has set April 30 as the deadline
for investors to submit reports on the implementation of residential
projects, of particular concern are waste water treatment stations.
Centara Beach Resort and Spa Phu Quoc is the latest Vietnamese property to be acquired by Centara Hotels and Resorts.
Nguyen Manh Ha, Head of Housing and Property Market Department spoke about prospects of the real-estate market
in Viet Nam in 2015.
Although the new land price framework in HCM City has only recently
taken effect, some brokers have taken advantage of the change to
increase property prices, according to Thoi bao kinh te Sai Gon (Sai Gon
Economic Times) newspaper.
Viet Nam is expected to see rising remittances enter the property market, following the amended housing law that allows Viet Kieu (overseas Vietnamese) to own a house in the country.
More incentives are needed to encourage businesses to develop affordable
housing and social housing projects, a HCM City official has said.
A VND50 trillion package to assist commercial housing developments may spell good news for the property market, but experts say authorities should prioritise showing homebuyers how to apply.
Vingroup Retail Co and Hai Phong Real Estate Development and Investment
Co broke ground for a commercial complex in the northern port city of
Hai Phong yesterday.
The trend of selling stalled property projects to new investors will
grow strongly this year, helping the market revive, the chairman of the
HCM City Real Estate Association has said.