Vietnam News - Real Estate News for Vietnam

News by February 2009

	Office space market hit as plunging firms downsize Office leasing in the capital is being hit by a huge lull in demand, with thousands of square metres lying unoccupied.

	Lawmakers oppose expanding Viet Kieu housing rights Representatives at a National Assembly Standing Committee session yesterday said they opposed an amendment allowing more Vietnamese expatriates to buy homes here, arguing it could hurt low-income earners with a property price hike.

	Second phase of Riverside Residence to be launched The Phu My Hung Corporation said it will start selling 158 apartment units in Building A of its Riverside Residence project in Ho Chi Minh City's District 7 on March 1.

	CBRE appointed sole BIDV Tower agent The BIDV Tower on Thursday signed an agreement to appoint CB Richard Ellis Viet Nam Co Ltd (CBRE) as its exclusive marketing agent.

	Deteriorating flats, slow resettlement put hundreds at risk of homelessness Plans are progressing to resettle nearly 2,000 households out of apartment buildings that are in disrepair, according to the HCM City’s People’s Committee. The committee has told the municipal Department of Construction and other agencies to speed up the construction of the new apartment buildings so they can be occupied by 2012.

	Home prices dip alongside interest cuts, cheap materials Interest rate cuts and cheaper construction material costs have pushed down housing prices in Ho Chi Minh City, said a senior executive at a property company.

	Hanoi injects VND3.4 trillion into feasible projects Businesses in Hanoi invested almost VND3.4 trillion in a range of feasible projects during the first two months of the year, equivalent to 12 percent of its annual target, against the backdrop of the global economic downturn.

	German consultants win NA House contract The German partnership -GMP International GmbH-Inros Lackner AG has won the contract to provide investment and designing consultancy for the construction of Vietnam's National Assembly House.

	ACB opens Hanoi property exchange, valuation unit Asia Commercial Bank, Vietnam's biggest listed company by market value, yesterday opened its first property exchange and valuation unit in Hanoi to tap rising demand, the bank said in an e-mailed statement.

	Building material market gloomy in construction season The construction season has begun, but the purchasing power of building materials on the market remains very weak, even though the prices have dropped drastically.

	Hanoi: Investment certificate granted to luxury apartment project CapitaLand-Hoang Thanh Co, Ltd. on February 26 received an investment certificate for its $120 million “Satin Residence” high-class apartment project in Ha Dong district, Hanoi.