Monthly Real Estate News | May 2019 Monthly Real Estate News | May 2019 | Page 17
Daily Real Estate News Highlights
Vietnam - 21 May 2019
Top 5 - Daily Updated Real Estate News
Colliers International’s Residential Highlights is daily news summary which features the latest
updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.
Lotte’s Eco-Smart City and Keppel Land’s Saigon Sports
City pushed on
Vietnam Investment Review
The Ho Chi Minh City People’s Committee has requested related
authorities to speed up the process of the $884 million Eco-Smart
City invested by Korean giant Lotte Group and the $500 million Saigon
Sports City invested by Singaporean Keppel Land. Administrative Eco-Smart City and Saigon Sports
City are essential to turn Ho Chi
procedures were among the key reasons behind the delay of Lotte’s
Minh City into a smart city.
Eco-Smart City and Keppel Land’s Saigon Sport City projects, said
the city’s chairman Nguyen Thanh Phong at a meeting to review
socioeconomic issues in the city in the first four months of the year,
held on May 10.
Long Thanh: a new wave of Southern real estate market
Nguoi Lao Dong
Dong Nai real estate market has seen a hidden wave of land-fund Dong Nai real estate market has
hunting from property giants. Most of the reputable property firms seen a hidden wave of land-fund
hunting from property giants.
in HCMC has a presence in Dong Nai Market. In Bien Hoa City, top
property investors like Novaland, Hung Thinh, Him Lam, Nam Long…
have invested there, together with many large-scale projects to
Retailer Auchan draws interest from buyers for Vietnam operations
Deal Streat Asia
French supermarket group Auchan Retail‘s plans to sell its loss-making business in Vietnam is
already drawing interest from potential buyers, a company spokesman told Reuters. Earlier on
Wednesday, Auchan Retail CEO Edgar Bonte told newspaper Les Echos that the group had decided
to sell its 18 stores in Vietnam. Those Vietnam outlets currently generate revenue of 45 million
euros ($50.4 million).
Property developers not keen on workers’ housing
Vietnam Investment Review
Developers in the south are ignoring the workers’ housing segment despite the huge demand for it,
analysts said. Pham Thi Lai, a worker in the southern Long An Province, said she and her husband
had been working for over a decade but still rent a tiny house. No workers’ housing projects were
planned in their area, and they could not afford to buy a commercial house, she said. Developers
built industrial zones without housing for workers, she added.
Market picture is still bright!
Dau Tu Bat Dong San
Despite records on certain declines in revenue and profits, in general, business picture of real estate
sector in Q1-2019 is not too shabby compared to the same period last year. In a preliminary survey
on 65 out of 66 listed property firms which have reported business results Q1-2019, they have
generated a total of VND51.217 billion in revenue, and VND6,726 billion in after-tax profit.
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