Ashui.com | Hội Quy hoạch Phát triển Đô thị Việt Nam

Friday
Feb 23rd
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home English
News

Foreigners to capitalise on poor property scene

Foreigners to capitalise on poor property scene

Foreign developers can be expected to once again dominate the real estate transaction market in 2013, industry insiders claim.

Luong Tri Thin, chairman and CEO of the Dat Xanh Real Estate Company, suggested firms from other Asian nations would take a leading role.

“Singapore, Japan and Malaysia are playing important factor in the future transaction cases. Of those, Singapore developers favour housing projects located in outskirt areas, while Japanese developers find projects located in city centres to develop into trading centres,” Thin said.

The Malaysia developers, he added, preferred to find opportunities to develop mix-use urban areas.

Le Chi Hieu, chairman of the Thu Duc House Development, said that 2013 would be a great year for foreign developers.

“As far as I know many foreigners are eyeing distressed projects and they are approaching current developers in order to find opportunities to take over,” Hieu said.

Meanwhile, in the first quarter of 2013, the continuing slump in the property market has forced developers to sell unfinished projects to survive. Merger and acquisition (M&A) deals can benefit both the sellers, who can finally get a major portion of their money back, and buyers who do not have to go through the rigmarole of applying for licences and acquiring land.

Outstanding examples include the Dat Xanh Real Estate Construction and Service Company’s purchase of a 2,000 unit project from the Saigon General Service company, with the cost of VND1,200 billion ($57 million). Located in Go Vap district of Ho Chi Minh City, the project consists of four blocks on 3.6 hectares.

Recently, Thu Duc House Development announced to sell its stakes in Dong Mai residential project in Hanoi’s Ha Dong district with a cost of VND80 billion ($3.8 million).

Also in Ho Chi Minh City, Binh Chanh Construction and Investment just finished its transaction in Nhat Lan apartment building, to the new investor of A Chau Danh Khoi Real Estate Company. In the north VinaLand fund, under VinaCapital, has successfully transacted 65 per cent of an office building in Hanoi’s 30 Nguyen Du street, worth $3.3 million.

Meanwhile, Song Hang Limited announced to pour VND500 billion ($23.8 million) into Hattoco residential project in Hanoi’s Ha Dong district.

Such deals illustrate a market that is creating hard times for financially weak players. For some developer burdened with a bad debt and unsold units, a merger and acquisition (M&A) strategy is the best way for them to restructuring their portfolios in order to survive.

Bich Ngoc

 
News

Vietnam property developers default on land-use fee

Vietnam property developers default on land-use feeMany property developers have been defaulting on land-use fees since 2011 amid the massive downturn in the housing market.  Tien Phong newspaper...
News

Slow reforms dog property firms

Slow reforms dog property firmsFrustration is growing among real estate developers who were expecting a faster deployment of Resolution 02/NQ-CP’s reforms designed to revive the l...
Projects

Happy Valley - Phu My Hung, HCMC

Happy Valley - Phu My Hung, HCMCHappy Valley shopping & apartment complex has a campus area of 42,000 sqm located on 3 Lot R12, R15 and R18. Overall project consists of 14 blocks...
News

As prices fall, hopes rise for "buyers’ market"

As prices fall, hopes rise for Prices in Hanoi’s overstocked apartment-for-sale market have dropped some more in early 2013, with mid-level products asking in the range of VND15-1...
News

VN architect scoops American magazine gong

VN architect scoops American magazine gongVo Trong Nghia's Stacking Green House has been awarded Building of the Year 2012 by the American magazine Archdaily.  The Vietnamese achitect wa...
News

Getting real about Vietnam’s real estate

Getting real about Vietnam’s real estateLast year was seen as one of the most difficult years for Vietnam’s real estate market.  However, with many initiatives to address the market ...
News

Crystal murky on 2013 office market in south

Crystal murky on 2013 office market in southExperts in the office-for-lease market have offered conflicting forecasts about the Ho Chi Minh City market in 2013.  While CBRE and Savills exp...
News

Green House furthers UN reform in Vietnam

Green House furthers UN reform in VietnamThe United Nations in Vietnam held a ceremony to mark the start of construction on the Green One UN House in Hanoi on January 21.  The ceremony ...
News

Property firms hit the wall

Property firms hit the wallNearly 18,000 real estate and construction companies faced losses, went bankrupt or closed last year because of the challenging economic situation in ...
News

Gloomy market to get darker

Gloomy market to get darkerAs slow as Vietnam’s real estate market was in 2012, the new year could prove even more challenging, some industry insiders say.  A gloomy out...
Trang 5 trong tổng số 24
Bảng quảng cáo

Tìm kiếm

Hiện có 778 khách Trực tuyến

Quảng cáo