Police in Ho Chi Minh City on September 18 arrested chairman and director of Alibaba real estate company for fraud. Police work with Nguyen Thai Luyen at Alibaba's headquarters on Kha Van Can Street in Ho Chi Minh City's Thu Duc District. Alibaba's chairman Nguyen Thai Luyen, and director Nguyen Thai Linh who is Luyen’s younger brother were both detained as hundreds of police carried out a raid at the company's headquarters on Kha Van Can Street in Ho Chi Minh City's Thu Duc District. Luyen and Linh will be prosecuted for fraudulently appropriating property. Alibaba was established in May 2016 with four people and chartered capital of VND100 million (USD4,347), according to the company’s website. Nguyen Thai Luyen contributed 80% of the charter capital. Nguyen Thai Linh and Nguyen Thai Cuc, brothers of Luyen, are shareholders. The real estate company and over 20 of its subsidiaries are accused of fraudulently offering for sale thousands of land plots in 48 … [Read more...] about Alibaba real estate company leaders arrested for fraud
Real estate crm for mac
M&A deals riding high in real estate
Nam Long Waterpoint township in Long An province is one of the major real estate M&A deals powering the market, Photo: Le Toan Vingroup retained its top position in large-scale transactions, with moves such as selling stakes equivalent to $1.3 billion to Singaporean sovereign wealth fund GIC and $1billion to SK Group of South Korea. SonKim Land meanwhile also carried out a major transaction with a group of investors including EXS Capital, ACA Investments, and Credit Suisse AG valued at $121 million. State Capital Investment Corporation also diverted 57.7 per cent of capital in Vinaconex with the value of VND7.4 trillion ($321 million). Vinaconex is contractor and developer of many real estate and infrastructure projects across Vietnam. The latest investment took place in July when Keppel Land Vietnam acquired 60 per cent interest in three land parcels spanning 6.2 hectares in Nha Be district of Ho Chi Minh City from domestic Phu Long Real Estate Corporation for VND1.3 trillion … [Read more...] about M&A deals riding high in real estate
VN to boost professional real estate brokers
In the last three years, the growth of real estate brokerage in the market has averaged about 15 per cent per year. Photo baodauthau.vn HÀ NỘI Real estate brokerage plays an important role in the circulation of real estate products. The sustainable development of the property market depends on a variety of factors such as legal policy, management of authorities, operations of the businesses, as well as professionalism of brokerage teams. Therefore, real estate brokers need to have enough knowledge and skills to synthesise information about real estate associated with legal items and planning, as well as real estate values for buyers and sellers, said Đặng Hùng Võ, former Deputy Minister of Natural Resources and Environment. Statistics from the Vietnam Association of Realtors (VARS) showed that, out of about 300,000 real estate brokers in Việt Nam, only 30,000-35,000 are eligible to do the work, accounting … [Read more...] about VN to boost professional real estate brokers
Real estate tycoon and Ho Chi Minh City officials arrested
Business woman Duong Thi Bach Diep and four officials of the Ho Chi Minh City People's Committee have just been started legal proceedings against for their alleged involvement in dubious real estate projects in the city and hoarding a great debt towards Agribank. The Owner of Diep Bach Duong Real Estate, Duong Thi Bach Diep In a statement issued by the Ministry of Public Security, business woman Duong Thi Bach Diep, director of Diep Bach Duong Real Estate Co., Ltd., was prosecuted for "fraudulent appropriation of property." In addition, former deputy chairman of the Ho Chi Minh City People's Committee Nguyen Thanh Tai and three other officials were also prosecuted for "offences against regulations on the management and use of State-owned property that lead to losses or wastefulness." Duong Thi Bach Diep became known in the real estate sector by receiving many "golden" land plots in the centre of Ho Chi Minh City. In particular, she became the first person to own the … [Read more...] about Real estate tycoon and Ho Chi Minh City officials arrested
Real estate poised for positive 2019
Vietnam continues its rapid development with a slew of new property types springing up in recent years, Photo: Le Toan According to the Foreign Investment Agency under the Ministry of Planning and Investment, real estate business ranked second in size since early this year, with total registered capital of $6.5 billion in 87 new registered projects. “With foreign direct investment (FDI) being funneled into the real estate sector, Vietnam remains an attractive destination for real estate investment in 2019 and beyond. It is because the demand for residential real estate, industrial zone infrastructure, trade centres, and resort real estate remains high,” said Nguyen Tran Nam, chairman of the Vietnam Real Estate Association. According to the country’s housing development strategy, the average housing area of the nation will reach 25 square metres per capita by 2020. To achieve this goal, 100 million sq.m of new housing will be built each year, 70 per cent of which … [Read more...] about Real estate poised for positive 2019