Monthly Real Estate News | May 2019 Monthly Real Estate News | May 2019 | Page 22

Daily Real Estate News Highlights Vietnam - 28 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. Spectrum of opinion on credit moves Vietnam Investment Review A recent draft circular on safety limits for banking operations, which applies a credit risk ratio three times higher than the current ratio, has created controversy among real estate consultants, developers, and buyers. Bich Ngoc reports. According to the State Bank of Vietnam (SBV), a new legal document aims to limit loans for the high-end High-end properties are historically the first to suffer from any major real estate segment to ensure the sustainable development of the jolts in market changes market and safety of the banking ­sector. SG’s Adventus sells 45% stake in unit to reduce exposure to Vietnam project Deal Street Asia Singapore’s Adventus Holdings Limited has sold 45 per cent of its stake in subsidiary ADV S3 for $1.1 million to one of the latter’s joint venture partners for a residential project in Vietnam, it said in an Singapore’s Adventus Holdings Limited SGX filing on Tuesday. Adventus said that it has encountered some difficulties in obtaining licences, permits and/or approvals for the Vietnam project. “The proposed disposal would enable the group to reduce its exposure in the Project and thereafter focus its resources and time in other projects,” Adventus said. Identity of company that bought VND 600 billion worth of share in HAGL Fica On May 20, HNG shares stood at VND 15,450 / share while HAG fell slightly by 0.77% to VND 5,160 / share. Notably, Hung Thang Loi Gia Lai spent over VND 600 billion to raise ownership of HAGL Agrico from 5.6% to 9.8% and become the second largest shareholder at HAGL Agrico behind HAGL. HAGL group has bought 98% of Hung Thang Loi Gia Lai and turned this company into a subsidiary since January 31, 2018. Gamuda Land Vietnam honoured as The Worth Living Project 2019 Kinh Te Do Thi Gamuda Land Vietnam – a top property developer from Malaysia – was recently honored with the Certificate of The Worth Living Project 2019, co-organized by Vietnam Chamber of Commerce and Industry and Dien Dan Doanh Nghiep magazine on May 16. Dennis Ng Teck Yow, Deputy CEO of Gamuda Land, said: “Since our first presence in Vietnam, we have received very significant supports from the Vietnam government. In recent years, investment policies for foreign investors in Vietnam are very advantageous, and there are many procedures that are finished faster than when we were in Malaysia. In addition, stable political factor and the government’s policies have generated very good conditions for Vietnam to attract foreign investment, especially in the real estate sector.” For market research reports, please visit our website at www.colliers.com This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). All material are sourced and collated in this document by Colliers is from the public domain. ©2019. All rights reserved. [email protected] colliers.com/vietnam