Cyberjaya property project

HoREA wants list of 124 resumed property projects released By Binh Nguyen Le Hoang Chau, chairman of the HCMC Real Estate Association, points out his concerns over stalled projects in the city – PHOTO: NLD HCMC – The HCMC Real Estate Association (HoREA) has called on the HCMC People’s Committee to release the list of 124 property projects that were previously suspended for investigations and inspections and have now resumed construction, said its chairman, Le Hoang Chau, at a conference in HCMC today, April 10. Held by the city government, the conference was aimed at canvassing opinions from local property firms and finding ways to resolve their complaints. Over 100 business representatives took part in the event chaired by the municipal Party chief, Nguyen Thien Nhan. City officials and those in the central Government inspected more than 150 local property projects, approving 124 for resumption, according to Chau. He noted this was good news for project … [Read more...] about HoREA wants list of 124 resumed property projects released

Fake property projects take center stage at Ba Ria-Vung Tau Province’s meeting The Saigon Times Daily A piece of farmland in Ba Ria-Vung Tau Province. The province has seen 192 farmland lots get turned into property projects - PHOTO: VIETNAMPLUS HCMC – The director of the provincial Department of Natural Resources and Environment was grilled over the illegal division of farmland into small lots for sale and fake property projects at the provincial People’s Council meeting on July 17, the local media reported. The province has seen 192 farmland lots get turned into property projects, with only 62 projects having obtained licenses, according to the provincial People’s Council. Phu My Town had the largest number of illicit property projects, at 113 projects, followed by Ba Ria City and Long Dien District. Le Ngoc Linh, director of the provincial department, attributed the rising number of fake property projects to land fever, where traders have taken advantage of … [Read more...] about Fake property projects take center stage at Ba Ria-Vung Tau Province’s meeting

Alibaba’s 29 property projects under probe The Saigon Times Daily An office of Alibaba in Dong Nai Province’s Long Thanh District. Ministry of Public Security is investigating 29 projects of Alibaba - PHOTO: PLO HCMC - The Ministry of Public Security has written to the southern province of Dong Nai asking for documents involving 29 property projects developed by local firm Alibaba Group as part of an investigation into these projects. Alibaba has reportedly offered land in 29 projects in Dong Nai Province over the last two years, with 27 projects in Long Thanh District, one in Nhon Trach District and one in Xuan Loc District, the local media reported. Alibaba was denounced for dividing agricultural land, land for traffic infrastructure and land owned by residents in the province into smaller lots, and selling them without proper documents. Meanwhile, the Dong Nai government confirmed that it did not issue any decisions to hand over these land lots to Alibaba and is … [Read more...] about Alibaba’s 29 property projects under probe

City resumes property project at prime site The Saigon Times Daily The property project at Ben Thanh Quadrangle in downtown HCMC - PHOTO: THANHNIEN.VN HCMC – HCMC’s authorities have asked the relevant agencies to resume a realty project to build a complex comprising offices, trade and service facilities, condos and a 6-star hotel, to be conveniently located in the heart of District 1. According to the municipal office, the city government has required the administering agencies to guide the investor on completing applications for project approval, land use rights, officetel function adjustments and other procedures. According to Nguoi Lao Dong Online newspaper, the project is located on the Ben Thanh Quadrangle, an 8,600-square-meter area bordered by the streets of Le Thi Hong Gam, Calmette, Pham Ngu Lao and Pho Duc Chinh in District 1's Nguyen Thai Binh Ward. It is surrounded by many iconic landmarks of the city such as Ben Thanh Market, the Fine Arts Museum and … [Read more...] about City resumes property project at prime site

HCMC suspends change of land use purposes at seven property projects The Saigon Times Daily Novaland's Garden Gate project at 8 Hoang Minh Giam Street in Phu Nhuan District - PHOTO: NOVALAND HCMC – The HCMC government has put on hold the process of changing the land use purpose of seven land lots in prime locations in Phu Nhuan District, with a combined area of nearly 50,000 square meters, where commercial and housing projects have either been completed or neared completion, according to the local media. All of the land lots have been used to develop complexes for commercial and service facilities, offices, officetels and apartments by subsidiaries of Novaland Group. Thousands of households have moved into these apartments. According to the city authorities, the move is aimed at reviewing the legal documents of these projects. The largest land lot, which has an area of more than 15,000 square meters, is at 119 Pho Quang Street. Meanwhile, two land lots on Hong Ha … [Read more...] about HCMC suspends change of land use purposes at seven property projects

HCMC chairman orders swift review of seven property projects The Saigon Times Daily Novaland's Kingston Residence project on Nguyen Van Troi Street in Phu Nhuan District - PHOTO: NOVALAND HCMC - HCMC Chairman Nguyen Thanh Phong on January 8 told the local media that he had urged the relevant departments and agencies to accelerate a review of the legal documents of seven projects developed on prime land sites in Phu Nhuan District. The city government had earlier put on hold the conversion of the land use purpose at these sites in line with the State Audit of Vietnam’s request. These sites, with a combined area of nearly 50,000 square meters, cover a land lot at 119 Pho Quang Street, two land lots on Hong Ha Street, two others on Nguyen Van Troi Street, one on Hoang Minh Giam Street and another on Truong Quoc Dung Street. They have been used to develop complexes for commercial and service facilities, offices, officetels and apartments by subsidiaries of Novaland … [Read more...] about HCMC chairman orders swift review of seven property projects

Novaland to develop mega tourism property projects A view of the annual general meeting of Novaland shareholders 2019. Novaland Group has mapped out a plan to develop large-scale tourism property projects over thousands of hectares of land from 2019 to 2023, following the shareholder approval at its 2019 annual general meeting 2019. The property developer wrapped up the year 2018 with a net revenue of VND15,290 billion, up 31% against 2017, and earned VND3,267 billion in after-tax profits, increasing 58% over 2017. Novaland entered the year 2019 with targets of VND18,000 billion in revenues and VND3,300 billion in after-tax profits, respectively increasing 17.7% and 0.7% versus the same period of 2018. In 2019, the group will add some business fields related to tourism, entertainment, cultural and artistic services and infrastructure investment. At the annual general meeting of shareholders 2019, Novaland presented its development strategy for the 2019-2023 … [Read more...] about Novaland to develop mega tourism property projects

Fake property projects scam thousands of locals in HCMC By Le Anh Deputy Nguyen Thi To Tram speaks at a meeting of the HCMC People’s Council on July 12 – PHOTO: NLDO HCMC – Some 1,000 people have been duped into depositing their money in fake property projects, which are being widely advertised in districts 9, Binh Tan and Hoc Mon, said a council member in HCMC. Deputy Nguyen Thi To Tram of Binh Tan District said at a meeting of the HCMC People’s Council on July 12 that some real estate developers have allegedly set up their projects on already-zoned land. They have even built roads and divided land into smaller lots for sale, according to Tram. “Residents have lodged complaints to many places but the firms that are defrauding (their clients) through these scam projects have yet to face justice,” she said. She said that a plot of land in An Lac Ward of Binh Tan District had been zoned for a park, but Angel Lina Investment Consultant Corporation was found to have … [Read more...] about Fake property projects scam thousands of locals in HCMC

Three fake property projects in HCMC under the scanner The Saigon Times The district-level government of Hoc Mon sets up a notice board warning residents of fake property projects. Three fake property projects in the district are under investigation – PHOTO: TNO HCMC – Investigators of the HCMC Police Department are looking into two real estate developers for allegedly offering three fake property projects for sale in the city’s Hoc Mon District and swindling customers. The two realty firms are Vu Gia Phat Real Estate Service and Construction Investment JSC with Vu Trung Quang serving as director and Viet A Chau Real Estate JSC whose general director is Mai Quoc Duong, reported Thanh Nien newspaper. The investigators are verifying complaints claiming that the two property developers signed contracts to transfer the land lots of the three following projects in the outlying district of Hoc Mon, namely “Gia Phat Garden” in Tan Hiep Commune, “New Star Residential … [Read more...] about Three fake property projects in HCMC under the scanner

Property firms tap opportunities outside HCMC By Binh Nguyen A new residential area in Di An Town of Binh Duong Province - PHOTO: TL HCMC - HCMC-based property firms’ expansion to neighboring provinces is not only intended to take advantage of the movement of people out of the city but also part of their sales strategy. Major markets such as HCMC are now restricting new high-rise property projects, while the city’s available land is shrinking. In addition, Vietnam’s urbanization rate is 37.5% and estimated to rise to 45% in 2020. Nguyen Nhat Cuong, deputy head of the research and analysis center at VietinBankSecurities, said that property firms are expanding to neighboring areas where the average income per capita is high and there is more room to grow. While in the past, small property firms favored provinces to avoid direct competition in the HCMC market, large companies are now actively approaching these areas. In fact, since last year, many industry giants … [Read more...] about Property firms tap opportunities outside HCMC