The resolution passed May 22 limits ownership to foreigners who meet specific residence and professional criteria, according to the official Vietnam News Agency. And eligible buyers will be allowed to purchase only apartments, not houses or land.
Under the new rules, individuals who qualify include expatriates investing in the country, foreigners married to Vietnamese and those with university degrees working in specialized fields. A category was created for those who have been decorated by the president of Vietnam and named an honorary citizen.
Tuesday, May 27, 2008
Tuesday, May 20, 2008
Vietnam builders halt projects to avoid bankruptcy
Vietnam’s year-on-year inflation rate reached 21.4 percent last month, the highest since at least 1992, according to government figures.
Construction costs in Vietnam have risen as much as 40 percent since the end of 2007, Melissa Bon and Brian Wee of Morgan Stanley Asia (Singapore) Pte. said in a report.
“Some contractors are delaying construction work to avoid the risk of facing bankruptcy,’’ Bon and Wee wrote in a report following a visit to Ho Chi Minh City.
Construction costs in Vietnam have risen as much as 40 percent since the end of 2007, Melissa Bon and Brian Wee of Morgan Stanley Asia (Singapore) Pte. said in a report.
“Some contractors are delaying construction work to avoid the risk of facing bankruptcy,’’ Bon and Wee wrote in a report following a visit to Ho Chi Minh City.
Sunday, May 11, 2008
Hanoi mega-metropolis plan lauded
Under the mega-metropolis plan, which received the green light from Prime Minister Nguyen Tan Dung earlier this week, Hanoi will balloon to three times its current size by swallowing the whole of neighboring Ha Tay Province and parts of two others.
The expansion “will allow unified planning and development of infrastructure projects” throughout the new “Hanoi Metropolitan Statistical Area,” Associate Director of CB Richard Ellis Vietnam (CBRE) Renato Shordon said Tuesday as he released a report on Hanoi’s real estate market.
The report predicted the plan would generate an enormous amount of infrastructure construction.
The expansion “will allow unified planning and development of infrastructure projects” throughout the new “Hanoi Metropolitan Statistical Area,” Associate Director of CB Richard Ellis Vietnam (CBRE) Renato Shordon said Tuesday as he released a report on Hanoi’s real estate market.
The report predicted the plan would generate an enormous amount of infrastructure construction.
Saturday, May 3, 2008
Big projects launch in southern Dong Nai
Two new road projects, the Long Hung-Phuoc Tan road and the An Hoa-Huong Lo road, as well as two property projects in Long Hung Hamlet, were opened.
The $750-million Waterfront Dong Nai City, a joint venture between Dong Nai Agriculture Services Co-Operative union (DonaCoop), An Phu Long Joint Stock Company (APL) and Singapore’s Ports Ville Ltd, an affiliate of Keppel Land, was the biggest project opened Thursday.
The waterfront town on the Dong Nai River will comprise an ecological township with apartments and villas, a resettlement zone, hotel and tourism facilities, and public works.
The $750-million Waterfront Dong Nai City, a joint venture between Dong Nai Agriculture Services Co-Operative union (DonaCoop), An Phu Long Joint Stock Company (APL) and Singapore’s Ports Ville Ltd, an affiliate of Keppel Land, was the biggest project opened Thursday.
The waterfront town on the Dong Nai River will comprise an ecological township with apartments and villas, a resettlement zone, hotel and tourism facilities, and public works.
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