Property projects for sale

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

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

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

Hanoi sees sales of apartments surge in Q4 2018 By Van Ly An illustration photo of VinCity Ocean Park residential project in Hanoi which attracted many customers for its VND1-billion apartments. Hanoi saw sales of apartments surge in the fourth quarter in 2018 - PHOTO: VINCITY HANOI - During the last quarter of 2018, property investors in Hanoi offered 15,100 apartments for sale, up 120% quarter-on-quarter and hitting a record high for quarterly sales so far, with 11,400 units sold, according to a report on the municipal property market released by Savills Vietnam. Do Thu Hang, head of the research department at Savills Vietnam in Hanoi, said that the apartments were offered by eight new residential projects and 28 old ones. The sales in the quarter reaped positive results, up over 80% quarter-on-quarter and nearly 70% year-on-year. Also, Grade B sales volume accounted for the majority of the market share, with Ha Dong, Tu Liem and Gia Lam remaining in leading … [Read more...] about Hanoi sees sales of apartments surge in Q4 2018

High-end property remains attractive to foreign investors: Savills Vietnam By Vu Dung The interior of a high-end apartment - PHOTO: SAVILLS HANOI - The Vietnamese real estate market, especially the high-end segment, will still attract the interest of foreign investors this year as the local housing market will grow further thanks to the country’s promising economic growth prospects and new infrastructure projects, said Savills Vietnam Managing Director Neil MacGregor. In addition, HCMC and Hanoi are seeing significant development and can be considered on par with other cities in the region. The abundant capital resources, the increasing number of foreign investors and appropriate policies from the Government will also encourage the development of the domestic real estate market, MacGregor noted. MacGregor stated that the prices of apartments in HCMC and Hanoi remain lower than those in Kuala Lumpur and Bangkok despite HCMC’s higher growth rate. The average … [Read more...] about High-end property remains attractive to foreign investors: Savills Vietnam

Novaland launches project in Cam Ranh The Saigon Times Daily An artist’s impression of the NovaBeach Cam Ranh Resort & Villas project Novaland Group has officially penetrated into the potential tourism real estate market in Cam Ranh City in the central coast province of Khanh Hoa with the launch of its NovaBeach Cam Ranh Resort & Villas project, which covers 23 hectares. Located on Nguyen Tat Thanh Street, NovaBeach Cam Ranh is a five-minute drive from Cam Ranh International Airport. In particular, it has a 350-meter coastline. This tourism property complex has 182 villas, 26 bungalows, four-star hotels with 330 rooms and three- and four-star condotels with some 1,700 units. The project will be operated by Minor Hotels Group, which is in partnership with many brands such as AVANI, AVANI Residences and Oaks. Villas of the project are designed in the Spanish renaissance architecture style Villas of the project have the renaissance architecture … [Read more...] about Novaland launches project in Cam Ranh

Hanoi offers the highest office yield globally: Savills By Thanh Thom Capital Tower is a Grade A office building on Tran Hung Dao Street in the central Hoan Kiem District in Hanoi. Vietnam’s capital has seen the highest office yield in the world – PHOTO: SAVILLS HANOI – The Vietnamese capital city of Hanoi had the highest office yield in the world, with market yield at 8.57%, according to the Savills World Office Yield Spectrum in the second half of 2018. Following Hanoi, the Philippines’ capital, Manila; South Australia’s cosmopolitan coastal capital, Adelaide; Vietnam’s largest city, HCMC; and Western Australia’s capital, Perth, round out the global top five. For the third time since January 2017, Hanoi ranked first globally for its central business district (CBD)’s Grade A office yield at 8.57%. Previous runner-up HCMC dropped to Number 4, with market yield at 7.36%. High yields indicate an attractive rental income against the capital value of office … [Read more...] about Hanoi offers the highest office yield globally: Savills

Waiver of apartment maintenance fee proposed The Saigon Times Daily Two apartment buildings in HCMC. The HCMC Department of Construction has proposed abolishing regulations on the collection of apartment maintenance fees - PHOTO: THANH HOA HCMC – The HCMC Department of Construction has proposed abolishing regulations on the collection of apartment maintenance fees to handle disputes between apartment building investors and management boards, Thanh Nien Online newspaper reported. Under the prevailing regulations, apartment building investors are responsible for collecting the apartment maintenance fee, equivalent to 2% of the value of apartments, from apartment owners. The maintenance fee for unsold apartments is paid by the investors. The fees must be deposited at banks and transferred to the building management boards after they are established. However, the high revenue has led to disputes between the investors and management boards. Nguyen Thanh Hai, head of … [Read more...] about Waiver of apartment maintenance fee proposed