The real estate market in Vietnam has been active with new arrivals from foreign brokers and consultants. Besides foreign brokers who have more than 15 years of operating experience in Vietnam, such as Savills and CBRE or Colliers International and Jones Lang LaSalle (JLL) who came somewhat later, the Vietnam real estate market has drawn many new arrivals to the field. Most recently, real estate agency PropNex has entered into a master franchise agreement with PropNex Realty Vietnam to grow its business in Vietnam. New foreign faces are appearing in the Vietnamese real estate market According to the agreement, Singapore-based PropNex gets a 25 per cent stake in the Vietnamese franchisee for a nominal sum of $1. According to Ismail Gafoor, CEO of PropNex, with its growing economy and positive forecast for the real estate market, Vietnam will be an important place for PropNex to establish its brand. Vietnam is the latest office of ProNex, following Singapore, Malaysia, and … [Read more...] about Foreign real estate brokers jump into Vietnamese real estate market
Real estate
Foreign real estate brokers flock to hot Vietnam market
VietNamNet Bridge - Foreign real estate brokers, one after another, have landed in Vietnam to take advantage of a market that has been heating up in the last four years. Foreign real estate brokers have landed in Vietnam On July 25, a press conference was organized in HCMC to announce the establishment of Propnex Realty Vietnam and the signing ceremony of Propnex brand franchise contract. The large Singaporean consultancy and distribution brand has offices in Malaysia, Indonesia and now in Vietnam. The big player hopes that it will become the leading distribution network in Vietnam in the next five years with 50 offices in cities/provinces. RELATED NEWS Vietnam hotel market attracts foreign investors High housing prices: unaffordable for Y generation Thanh Mai … [Read more...] about Foreign real estate brokers flock to hot Vietnam market
Local authorities warned of dark side of FDI in real estate sector
VietNamNet Bridge - Foreign investors have registered to pour tens of billion of dollars into the real estate market, but many projects are still on paper. Many projects are still on paper The licensing of the VFC (Vietnam Financial Center) project in HCMC in February 2008 stirred excitement among Vietnamese. It was designed to have three 48-storey buildings to be used as offices, a shopping mall and a 5-star hotel. The super-project has not started. Le Ngoc Quynh, director of Thinh Vuong Investment & Cooperation, commented that many foreign investors eye real estate projects in Vietnam. If they cannot arrange sufficient capital for the projects, they will ask for local authorities’ nod on reducing the projects’ scale and delaying project implementation. RELATED NEWS Vietnam drafts next-generation FDI strategy Real estate remains third largest FDI lurer Chi Mai … [Read more...] about Local authorities warned of dark side of FDI in real estate sector
HCM City vows to help real-estate firms
Illustrative image (Source: VNA) HCM City (VNS/VNA) - Ho Chi Minh City authorities have pledged to continue providing assistance and creating favourable conditions for real estate companies at a dialogue between the city government and businesses. Speaking at the event on August 30, Tran Trong Tuan, director of the city’s Department of Construction, said any shortcoming in management and operation of State agencies related to construction licensing and real estate activities would be adjusted to facilitate businesses. More than 200 representatives from 150 enterprises and associations attended the meeting to learn more about guidelines and regulations from State agencies in construction and real estate. The directors of the departments of Construction as well as Natural Resources and Environment, and representatives of related departments, addressed all questions posed by businesses. The meeting, organised by ITPC and the departments of Construction and … [Read more...] about HCM City vows to help real-estate firms
City vows to help real-estate firms
City officials speak with representatives of real estate enterprises at a meeting organised on August 30 in HCM City. — VNS Photo Bồ Xuân HiệpViet Nam News HCM CITY — HCM City authorities on August 30 pledged to continue providing assistance and creating favourable conditions for real estate companies at a meeting held in the city. Speaking at a dialogue between the city government and businesses, Trần Trọng Tuấn, director of the city’s Department of Construction, said any shortcoming in management and operation of State agencies related to construction licensing and real estate activities would be adjusted to facilitate businesses. More than 200 representatives from 150 enterprises and associations attended the meeting to learn more about guidelines and regulations from State agencies in construction and real estate. The directors of the departments of Construction as well as Natural Resources and Environment, and … [Read more...] about City vows to help real-estate firms