The TQS Vietnam Company began construction of the Euro Land High-Rise in the Mo Lao Urban Zone, Hanoi on August 23st.

Illegal construction and encroachment on public land will face tougher action from the municipal authorities of the newly expanded Ha Noi, according to officials.

The city authorities have assigned functional agencies to deploy a plan to improve and re-build corrupt apartments and build social houses.

Foreign direct investment (FDI) approvals in Vietnam in January-August amounted to a record high of US$46.3 billion, with the tourism and real estate sectors accounting for nearly a half.

In a bid to improve transparency, the government will compile data to help investors and would-be homeowners monitor property sale prices.

“The index for the real estate market will be compiled based on actual deals between people in each area, with specific forms of real estate so investors and people can use it for reference and it can be used for managing the market,” said Nguyen Manh Ha, Head of the Housing Development Agency under the Construction Ministry.

The Ho Chi Minh City real estate market has yet to recover though there has been an increase in the number of transactions this month, an industry expert told Thanh Nien

The central city of Da Nang has been listed on the Japan External Trade Organization (JETRO)'s survey comparing investment costs in major Asian cities and regions, according to the city's representative office in Tokyo.

Prime Minister Nguyen Tan Dung has asked cities and provinces to review whether golf course projects comply with their socio-economic development plans, the government office said yesterday.

The National Assembly (NA) Standing Committee yesterday discussed the draft laws on real estate registration and guaranteed transactions, with legislators asking for more revisions to the laws before they are submitted to the NA in October.

HCM City hopes US$10 billion worth construction projects will get under way by next year in District 2's Thu Thiem new urban area, including an iconic observation tower.