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  A view of the HCM City skyline. The city’s revenue collection in the first 11 months has been impressive despite challenges. — Photo tripsavvy.com HCM CITY — The chairman of the HCM City People’s Committee has said it will be hard to meet revenue targets unless the legal problems faced by the construction industry are settled quickly.  Speaking at a meeting with the Ministry of Finance on Tuesday in the city, chairman Nguyễn Thành Phong said this year the city targets economic growth of 8.5 per cent, with the services sector accounting for more than 60 per cent of the US$60 billion economy.  The construction industry, which has a great influence on the budget revenues, achieved only 1.04 per cent growth this year, he said.  The biggest difficulty facing the industry today is the postponement of a great number of housing projects, and this would have a big impact on budget revenues, he said.  The … [Read more...] about HCM City leader says revenues could fall unless real estate problems are fixed

SHENZHEN, CHINA - Media OutReach - 12 December 2019 - Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, announced the formation of a new asset services company with Vanke Service today. The new company will jointly develop certain commercial real estate property and facilities management operation services across Greater China further enhancing the two companies by creating greater value and service delivery for clients across the region.  Vanke Service is a core subsidiary of China Vanke, a leading best-in-class Chinese real estate development company. Vanke Service is a top Chinese real estate service provider for over 2209 residential and 635 commercial projects by the end of 2018. Cushman & Wakefield is a leading global real estate services firm with 51,000 employees in 400 offices and 70 countries. Cushman & Wakefield has 22 offices across Greater China providing integrated real estate services to the local market.This new … [Read more...] about Cushman & Wakefield Announces Strategic Partnership with Vanke Service to Create New Asset Services Company in Greater China

Nomura Real Estate acquired Sun Wah Tower in District 1 (File photo) HCM City (VNS/VNA) - Vietnam has become an attractive destination for many foreign investors largely due to the country’s friendly policies encouraging FDI, its political stability and strong economy, the latest report of US-based John Lang LaSalle (JLL) said. Foreign direct investment (FDI) disbursements rose 8.4 percent year on year to 8.37 billion USD in the first six months of 2018, according to figures from the Foreign Investment Agency. Vietnam has been taking initiatives to improve its transparency and the country remains one of the most favorable destinations for foreign investment in South East Asia, according to JLL’s Global Real Estate Transparency Index. In the first half of this year, the real estate market continued to appeal to foreign investors and witnessed high-value merger and acquisition (M&A) deals in a variety of sectors such as residential, commercial and industrial. Joint … [Read more...] about M&A activities expected to reach record levels in 2018

Ben Gray, director of Capital Markets at Cushman & Wakefield Vietnam There were strong reactions to the announcement made on December 3 that Masan Group’s consumer holdings subsidiary and Vingroup’s VinCommerce and VinEco business lines are finalising legal terms for a merger, which will form the country’s largest consumer platform. This new platform is exceptional in its scale and reach in the market: 2,600 supermarkets and convenience stores in 50 cities and provinces with 14 eco-farms. This now gives Masan Group, as part of the fast-moving consumer goods ecosystem, greater reach for its products, maximising the benefit from Vingroup’s investment into the retail space. It is an excellent example of a strategic merger of two goliaths of the Vietnamese market. Both have had clear lines of sight and a robust strategy to keep ahead of the structural changes in how consumers are maturing in the market, seeking greater convenience and quality, and seeking out … [Read more...] about Foreign direct investment and mature M&A boost investor confidence

Vietnam’s M&A market is forecast is expected to touch $6.5-$6.9 billion in 2018 (Photo: baodautu.vn) Hanoi (VNS/VNA) – Vietnam’s M&A market is forecast to reach 6.5-6.9 billion USD in 2018, which is lower than the 2017’s record of 10.2 billion USD. “We expect the M&A value in 2018 to decline from 2017, as this year may not have as big deal as Sabeco,” said Dang Xuan Minh, AVM Vietnam’s CEO. Vietnam’s merger and acquisition (M&A) market hit over the 10-billion-dollar landmark for the first time last year and is at the turning point to reach a new era of opportunities in the next decade. M&A value continued to rise 55 percent year-on-year to reach 3.55 billion USD in the first six months of this year. “One year ago, even very optimistic forecasts hardly envisaged the M&A boom in 2017 which thrust Vietnam’s M&A value to 10.2 billion USD, a growth of 175 percent over 2016. This is a record number, … [Read more...] about Vietnam’s M&A market declines in 2018