After ten years in the making, the crowning jewel of Saigon's vista, Saigon One Tower will be put on a public auction to resolve at least VND6.11 trillion ($268.22 million) non-performing loans by Vietnam Asset Management Company (VAMC), putting an end to one of the most anticipated construction projects in Vietnam. Saigon's property pride are being bought off for debt collection To date, myriad market analysts forecasted that a notable number of investors would bid lower than $268.22 million in order to protest the unrealistic listing rate, considering ten years of inactivity due to inefficient investment and postponed development. Within four days, the estimated starting price of the project's total assets shrank from VND7 trillion ($307.3 million) to $268.22 million, which is still frowned upon by investors. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (Horea), asserted that the listing price was considered "reasonable," yet there are high odds … [Read more...] about Investors frown at unrealistic listing price of Saigon One Tower
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Investors frown at discount price of Saigon One Tower
After ten years in the making, the crowning jewel of Saigon's vista, Saigon One Tower will be put on a public auction to resolve at least VND6.11 trillion ($268.22 million) non-performing loans by Vietnam Asset Management Company (VAMC), putting an end to one of the most anticipated construction projects in Vietnam. Saigon's property pride are being bought off for debt collection To date, myriad market analysts forecasted that a notable number of investors would bid lower than $268.22 million in order to protest the unrealistic listing rate, considering ten years of inactivity due to inefficient investment and postponed development. Within four days, the estimated starting price of the project's total assets shrank from VND7 trillion ($307.3 million) to $268.22 million, which is still frowned upon by investors. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (Horea), asserted that the listing price was considered "reasonable," yet there are high odds that … [Read more...] about Investors frown at discount price of Saigon One Tower
Foreign investors flock to Lien Chieu deep seaport
Although the construction of Lien Chieu port in Danang city has just been appraised, domestic and foreign investors are already interested in the project. Danang wants to construct Lien Chieu Port to facilitate cargo transport Boskalis Inter A.V is the newest foreign investor that expressed interest in the project. Wanter Jacobs, regional business manager of Boskalis, said in the document sent to the Ministry of Transport that the investor wants to join component A–general infrastructure. Boskalis will collaborate with T&T Group to deploy this project, particularly in conducting the feasibility study, design, and build general infrastructure system in component A. Boskalis was founded in Netherlands in 1910, and provides dredging, offshore energy, and maritime services across the globe. Its projects cover 75 countries on six continents, and the corporation has a fleet of more than 1,100 ships and 15,600 professionals. The chances of Boskalis-T&T venture joining … [Read more...] about Foreign investors flock to Lien Chieu deep seaport
VN Index hits new high on investor confidence
Viet Nam’s benchmark VN Index hit a new high on Monday morning, boosted by large-cap stocks, due to positive investor confidence. The market trading condition was positive with 137 gaining stocks against 114 declining ones and 66 others ending flat. - Photo ibrokervn.com The VN Index on the HCM Stock Exchange rose 1.46 per cent to close at 1,191.58 points. It gained a total of 1.8 per cent last week. More than 132.7 million shares were traded on the southern bourse, worth VND4 trillion (US$181.3 million). The market trading condition was positive with 137 gaining stocks against 114 declining ones and 66 others ending flat. Large-cap stocks performed well to boost the southern exchange as the large-cap VN30 Index increased by 1.5 per cent to 1,170.42 points. Twenty of the 30 largest-cap stocks by market capitalisation in the VN30 basket advanced, including FLC Faros Construction (ROS), insurer Bao Viet Holdings (BVH), Saigon Securities Inc (SSI), Binh Minh Plastic (BMP) … [Read more...] about VN Index hits new high on investor confidence
Vietnamese investors buy more Australian property
VietNamNet Bridge - Vietnamese are buying more property in Australia to have homes for their children studying in Australia, or to settle down in the country through investment programs. Vietnamese are buying more property in Australia A Vietnamese real estate firm spent $6 million to acquire an apartment project in Racecourse in the Kensington area of Melbourne. This was the first time a Vietnamese company has developed a project in the Australian housing market, competing with leading investors in the region. In March, Vietnam and Australia officially inked the CPTPP, which will increase investments between the two countries. Nguyen Le Van from IWealth Pro Property Consultant said that a high number of Vietnamese are rushing to buy properties overseas for different purposes, either to have homes for their children who are studying abroad or to seek citizenship. RELATED NEWS How can Vietnamese transfer USD abroad to pay for house purchases? … [Read more...] about Vietnamese investors buy more Australian property