Booming real estate markets in the world

The credit quality of real estate firms is at a good level with financial leverage below 1.5x. During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions. Investors looking at a real estate project in Me Linh District, Hanoi. Photo: Pham Hung Economist Can Van Luc, a member of the National Financial and Monetary Advisory Council, shared the view at a real estate forum held on August 17, noting the figure is huge compared to total investment capital for the economy. According to Luc, while transaction activities have been subdued in recent months, this would pose a golden opportunity to restructure the market for more sustainable growth. “In the past, real estate was widely seen as the first option when people explore fields to invest in, and that is a huge risk to the economy,” Luc said. … [Read more...] about Over US$34 billion set to pour into Vietnam’s real estate market this year

The recent real estate market report of Savills Vietnam showed that in the first half of the year, the situation of the real estate market in Hanoi showed signs of recovery in commercial leasing activities, serviced apartments, housing purchases, and hotel room rental capacity. Savills Vietnam hosted an event on Vietnam's real estate market outlook on August 17 In the first half of the year, Hanoi's economy grew by 7.8 per cent, a rise of 29 per cent on-year and higher than the 7.2 per cent increase in the first half of 2019. Total retail sales of goods and services reached $14.6 billion, up 16.5 per cent on-year. However, the rental space market was not very good, as occupancy decreased by 3 percentage points on-quarter, and 4 percentage points on-year, reaching 89 per cent. The west reported the highest increase in the additional rental area, reaching 30,600 square metres. The retail podium saw the highest increase in leasable area, reaching 12,200sq.m, continuing … [Read more...] about Hanoi’s real estate market to recover soon: Savills Vietnam

In 2020, chairman Nguyen Van Dat appointed you as CEO of Phat Dat. Taking on this new responsibility, how did you feel back then? Throughout Phat Dat's 16-year history, the chairman and founder exerted his influence on every decision. In such a context, I found myself in a favourable situation thanks to the inherited strategic orientations from the chairman and the determined management team. Besides this, Phat Dat has embarked on an ambitious plan for 2019-2023 to restructure its investment portfolio, targeting billions USD in market cap and exceeding 50 per cent in compound growth rate. Growing up inside the organisation, I am enthusiastic about Phat Dat's development. My new task, which capitalises on the past achievements and simultaneously accompanies the chairman to write Phat Dat's further development, is really challenging. When I received the appointment decision, many thoughts crossed my mind. I immediately told myself that I must live well, grow strongly, and see … [Read more...] about Phat Dat’s strategy to successfully acquire new real estate projects

Yerkin Tatishev, founder and chairman of Kusto Group During your visit to Vietnam, you identified and reconfirmed the potential of the Vietnamese market. Could you please share your investment strategy and plan for the coming years? Over the past 10 years, we have invested in different industries in Vietnam from cement to logistics and real estate. During that time, we also gained a lot of experience. The business results of the projects are different but in general, they are positive. Through this process, we have also built strong foundations for development in Vietnam such as a network of partners, friends, and a deep understanding of the local market. The Vietnamese government is stepping up investment in infrastructure such as roads, airports and many others, in which private companies are actively participating. Investment in infrastructure will create a positive growth engine for Vietnam. The nation's infrastructure system is changing very quickly and I firmly … [Read more...] about Kusto Group diversifies its business in Vietnam

Situated in a prime location in Haiphong's central business district along Dien Bien Phu Street, the Wink Hotel Haiphong Centre will appeal to young-at-heart business and leisure travellers. It has excellent access to local government offices, Cat Bi International Airport, Dinh Vu Port, the surrounding economic zones, and Haiphong's various attractions. The Wink Hotel Haiphong Centre comprises 203 Wink hotel rooms and 77 Wink suites within a stunningly designed 22-story tower of approximately 16,000sq.m. Following the sustainable, modern design of the Wink Hotels brand, the Wink Hotel Haiphong Centre will include an interactive lobby including a Wink Space, Wink Bar, and a Grab & Go area on the first floor, a co-working space on the second floor, a gym and laundromat on the third floor, and swimming pool and rooftop bar on the 22 nd floor. Hotel rooms are located from levels 4 to 20 with a total of 280 hotel rooms and serviced apartments. "When building the brand strategy … [Read more...] about The sixth Wink Hotels broke ground in Haiphong

The index closed 4.5 points lower after losing 1.6 points on Thursday. Trading on the Ho Chi Minh Stock Exchange (HoSE) fell by 2.8 percent to VND14.92 trillion ($637.53 million). The VN-30 basket, comprising the 30 largest capped stocks, saw 22 tickers dropped. HDB of HDBank dropped 2.1 percent. CTG of state-owned lender VietinBank and HPG of steelmaker Hoa Phat Group both fell 1.7 percent. Other losers included FPT of IT giant FPT Corporation, VHM of real estate giant Vinhomes and KDH of real estate firm Khang Dien House. Six blue chips gained, led by VPB of private lender VPBank with a 4 percent rise. GAS of state-owned Petrovietnam Gas gained 1.7 percent, and VNM of dairy giant Vinamilk rose 1 percent. Foreign investors were net sellers to the tune of VND102.28 billion. The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.08 percent while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.09 percent. … [Read more...] about VN-Index slips 4 points