Business News

At an extraordinary session in Hanoi on January 18, the 16 chapters and 260 articles of the law were given the green light. According to Vu Hong Thanh, Chairman of the National Assembly’s Economic Committee, the law has been prepared thoroughly by authorities at various levels.

According to a report by Cushman & Wakefield released this week, the industrial real estate market in the south, specifically key areas such as HCM City, Bình Dương, Đồng Nai, Long An and Bà Rịa-Vũng Tàu provinces, did not have any launches in the last quarter of 2023.

The industrial property segment is likely to lead the real estate market in terms of growth while the housing segment is expected to become more active, according to experts. Despite a gloomy year for the market in 2023, the industrial property segment stood out as a bright spot with increased demand and rentals.

Adjustment of land use targets did not take away land or other resources of localities, but only created conditions for further development, said deputy Prime Minister Trần Hồng Hà. The Deputy Prime Minister yesterday chaired a meeting on plans to adjust land use targets as per Prime Minister’s Decision 326/QĐ-TTg, dated March 9, 2022.

Malaysian property company United Overseas Australia (UOA) in December was one of the latest major names to announce a joint venture agreement with CapitaLand Vietnam Holdings to develop a $247 million property project in Vietnam.

Many domestic real estate developers are expecting to cooperate with Japanese investors as strategic partners to receive capital and share the management capacity. In mid-December, CEO Group, GP Invest, and Sovico Group participated in a business matching event with a delegation of Japanese companies to discuss collaboration opportunities.

peaking at the Việt Nam Real Estate Summit 2023 held by Batdongsan.com.vn in HCM City last week, Nguyễn Quốc Anh, deputy general director of the property listing platform, said the Vietnamese real estate market in 2023 has been experiencing positive changes and mirroring a previous cycle.

The National Assembly last week decided to postpone the approval of the draft revised Land Law until the next session in 2024 because many provisions remain controversial and unclear.