NEWLY ISSUED DECREE 25 UNPLUGS BOTTLENECKS FOR REAL ESTATE PROJECTS
Decree No.25/2020/ND-CP (Decree 25) issued by the prime minister on February 28, 2020 has broken through the biggest obstacles facing real estate projects nationwide in land bidding and implementation.
HAI PHONG EYES NEW INDUSTRIAL ZONES THIS YEAR
Among these zones are the 752ha Xuan Cau-Cat Hai industrial and non-tariff zone worth more than VND14.1 trillion (US$61 million), and the 93.3ha Cau Cuu-An Lao IZ expected to cost VND845 billion ($36.3 million). The two projects are being verified by the Ministry of Planning and Investment and will be submitted to the Prime Minister for approval later.
HO CHI MINH CITY LUXURY RESIDENTIAL MARKET SHOWS BRIGHT PROSPECTS FOR 2020
Property Insight – a multi-dimensional and in-depth information channel on the real estate market – in collaboration with CBRE Vietnam, recently organised the Property Insight – Residential Market Outlook for 2020 seminar. The programme provided investors, real estate developers, and homebuyers an overview of the domestic market in 2019 and forecasts for 2020.
HCM CITY PROPERTY MARKET A MAGNET FOR FOREIGN INVESTORS
Besides, foreign investors would insist on higher standards, which would require Vietnamese property businesses to raise their standards and improve transparency, he added.
LOCAL PROPERTY MARKET TO RECOVER THIS YEAR
Nguyen Tran Nam, chairman of the Viet Nam Real Estate Association, was quoted by dantri.com.vn as saying that Viet Nam’s real estate market was in a good place to grow this year and beyond thanks to the strong development of the macro-economy.
DONG NAI WANTS TO TRANSFORM BIEN HOA 1 INDUSTRIAL PARK INTO SMART CITY
The plan to change the land use purpose of Bien Hoa 1 IP has been delayed for 10 years now because parties failed to negotiate a roadmap for compensation. The initial plan, under which the province was to shut down the IP by 2020, has failed after complications in administrative procedures. The province estimated that it may take VND15 trillion ($652.17 million) to switch the function of the IP.
REAL ESTATE CREDIT UNDER CONTROL
Property firms have mobilized capital from the corporate bond market. In January-November last year, these firms raised over VND71.3 trillion from corporate bond sales, accounting for 34.5% of the total corporate bond value and equivalent to 15.4% of the outstanding loans for the real estate business in 2018, according to SSI Securities Corporation.
REAL ESTATE RETAINS SECOND POSITION IN FDI ATTRACTION
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
