The Hanoitimes - Geographic location, policies and incentives in drawing foreign capital inflows have formed robust status for Vietnam`s industrial real estate. Haiphong – city of heated industrial property Northern industrial real estate benefits from manufacturing growth FDI boosts Vietnam’s industrial real estate in 2018 Both domestic and foreign real estate experts have predicted that industrial property would be the most attractive segment in Vietnam in 2019 and the years to come thanks to a number of factors, mostly the government’s preferential policies. Facilities in an industrial park. Illustrative photo Vietnam has appeared to be one of the best choices for multinational corporations that want to shift their localities in the global transition, Nguyen Tran Nam, head of the Vietnam National Real Estate Association (VNREA), said at the Vietnam Industrial Property Forum 2019 held in Hanoi on April 23. With a strong belief … [Read more...] about What makes Vietnam’s industrial real estate most attractive in 2019?
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Illustration photo The Directive aims to overcome shortcomings and obstacles in real estate development such as redundancy of luxury apartments and houses, lack of social housing and low-cost apartments as well as lack of synchronous, trusted and transparent real estate database and information. Accordingly, the Ministry of Construction is tasked to complete the project on amending and supplementing the Construction Law, the Housing Law and the Real Estate Business Law as well as supplement building standards on apartments, condotel, resort villa, officetel and officetel, which are expected to finish in the third quarter of 2019. The ministry also joins hand with other ministries, agencies and localities to inspect and require the investors of urban areas and housing projects to synchronously build technical and social infrastructure projects and fire protection system as well as strengthen inspection of land planning and hiring. The Ministry … [Read more...] about PM figures out measures for enhancing sustainable development of real estate market
HAGL Group said in its recent 2018 financial report that it plans to divest from HAGL Myanmar, its largest real estate project. The company now lists real estate as part of its "other activities," and it was not even mentioned in chairman Doan Nguyen Duc’s letter to shareholders. Last year HAGL Group's revenues from real estate were only 1.1 percent at VND58 billion ($2.5 million). In contrast, in 2008-12, when property was its main business, it earned VND3 trillion ($129 million) a year mostly from projects in Ho Chi Minh City. But the company began to diversify in the following years. In 2013 revenues from real estate plummeted to below VND250 billion ($10.7 million) from VND2.8 trillion ($120.7 million) the year before. In 2014 the company said in a letter to shareholders: "HAGL has restructured the real estate business and has pulled out of Vietnam's property market. We believe that the country’s real estate supply is too large for its absorption ability now and in … [Read more...] about Former property giant could soon say goodbye to real estate
The Hanoitimes - Northern region led by Hanoi appears to be one of the most attractive destinations for investors with favorable conditions. FDI boosts Vietnam’s industrial real estate in 2018 Foreign investment fuels industrial real estate in Vietnam Growth in automobile sector drives up Vietnam industrial real estate market Vietnam’s northern industrial real estate has rapidly changed with the establishment of sizable industrial parks in Hanoi and surrounding provinces, showing a successful example of the development of manufacturing industries. A view of an industrial park. Illustrative photo Vietnam has gathered momentum over the past few years to establish itself as the production hub for Southeast Asia and now offers a viable alternative for companies looking to establish their operations outside of China, according to Stephen Wyatt, country head of JLL Vietnam. This is backed by a number of key fundamentals which … [Read more...] about Northern industrial real estate benefits from manufacturing growth
The State Bank of Việt Nam has asked for control over real estate loans of credit institutions to be enhanced, especially in areas showing signs of land price fever. — Photo vneconomy.vn HÀ NỘI — The State Bank of Việt Nam (SBV) has asked for the control over real estate loans by credit institutions to be enhanced, especially in areas showing signs of land price fever. SBV’s Governor Lê Minh Hưng in a recent document about lending operations in 2019 asked its branches and banks to keep a close watch on the developments of the real estate market and strictly monitor credit provisions for this sector. Any unusual market developments must be reported to the central bank, Hưng asked. At the same time, supervision over lending would be enhanced, especially for property and consumer loans, to ensure safety and that the loans were used for the intended purposes. The order was issued amid land price fever reported in several … [Read more...] about Central bank asks for tightened control over real estate loans