Viet Nam News Chu Lan Huong Lê Thu Trà, a woman living in Hà Nội’s Hà Đông District, lived in anxiety for days because she did not know what happened to the contract she had signed to buy an apartment from a new real estate project. Trà’s worry was real – in some recent incidents at housing projects, customers came out on the losing end. In some situations, apartment projects that were still mortgaged by banks or credit entities were sold to customers, leading to ownership disputes between the parties. Gia Phú Residential Building in HCM City’s Thủ Đức District was the scene of one such incident. The bank that funded the project announced its intention to auction off the building to clear the debt of the main investor, who had not paid the bank for the past seven years. The building’s hundreds of residents live in fear of losing the money they spent their lives saving to afford an … [Read more...] about Talk around town: Mortgaged real estate projects are legal but risky
FDI flows remain strong in real estate, illustration photo According to Minister of Construction Tran Hong Ha, the real estate sector in Vietnam commands special attention among foreign investors. So far, Vietnam has attracted 26,646 projects with the total investment capital of more than $334 billion from 129 countries and territories, with the real estate sector consistently attracting the second-largest portion among the Vietnamese economic sectors. “The government has been highly appreciative of foreign investment and has been working to create more favourable conditions for them to invest in Vietnam,” Ha said at a recent international conference on real estate investment in Vietnam in Hanoi. Khanh Nguyen, associate director of the Capital Markets Division of JLL Vietnam, said that over the past 10 years, despite the ups and downs of the Vietnamese economy and the real estate market, foreign direct investment (FDI) inflows remained stable. According to the Foreign … [Read more...] about FDI flows remain strong in real estate
Vietnamese shares advanced on Tuesday morning, driven by real estate firms, petroleum companies and banks. Vietnamese shares advanced on Tuesday morning with a sharp increase of trading liquidity thanks to a foreign purchase of Masan shares. The benchmark VN Index on the HCM Stock Exchange gained 0.64 per cent to close at 1,019.34 points. It finished down 0.42 per cent on Monday. The HNX Index on the Ha Noi Stock Exchange ended almost flat at 115.57 points. The northern market index lost 0.65 per cent to finish Monday at 115.52 points. More than 283 million shares were traded on the two local exchanges, worth nearly VND15 trillion (US$661.2 million). The robust increase of trading liquidity was attributed to South Korea’s SK Group purchase of shares of consumer company Masan. SK Group bought nearly 110 million shares of Masan, worth VND11 trillion. However, Masan shares (MSN) fell 0.5 per cent on Tuesday morning. The stock market was boosted by growth of petroleum, real … [Read more...] about Banks, real estate and petro firms drive market up
Jessica Tyler, provided by Published 8:15 am CDT, Monday, October 1, 2018 Business Insider/Jessica Tyler At $25 billion, Hudson Yards is the most expensive real estate development in US history. It's also one of the largest: Once completed, the project will span more than 18 million square feet, including 14 acres of public space. With two buildings already completed and many more underway, the development now overwhelms the Chelsea and Hell's Kitchen neighborhoods near the Eastern and Western Railyards. Though recognized by its public landmark — a 150-feet-tall honeycomb structure known as Vessel — its buildings are masterful achievements in their own right. Business Insider got a rare peek inside the development site, which is bustling with activity and a maze of new construction. Every day there's a new path to navigate, said Geoff Butler, the senior project manager at Related Companies, which is co-developing the site with … [Read more...] about Hudson Yards is the most expensive real estate development in US history. Here’s what it’s like inside the $25 billion neighborhood.
The $US25 billion Hudson Yards complex is a masterpiece in urban design that developers have envisioned for decades. At 28 acres, the site will transform the surrounding community, bringing an influx of office workers, tourists, and residents. The emphasis on luxury amenities and high-end retailers threatens to alienate long-time establishments, which may soon be priced out of the neighbourhood. Stepping onto the Hudson Yards site, it’s impossible not to gravitate toward Vessel, a 150-foot-high, honeycomb-shaped art installation located in the center of the complex. With its reflective copper cladding and $US150 million price tag, the structure is emblematic of the development itself: expensive, partially enclosed, and intentionally breathtaking. While the complex is a stunning design feat, the fact that it’s being built is even more impressive. At $US25 billion, Hudson Yards is the most expensive real estate development in US history. When complete, the new Manhattan … [Read more...] about Hudson Yards is the most expensive real estate development in US history. Here’s what its $25 billion future could look like.