Real Estate Developments News In Vietnam

Reported in The Star (13/1/2007) pertaining to real estate developments into Vietnam:

• Vietnam generally being perceived as the next Thailand in terms of real estate appeal;
• tagged as the “new frontier”, “second China”, “next Thailand”. With that, investors, largely property developers, are slowly but surely flocking into Vietnam;
• economy grew 8.4% last year and the Asian Development Bank is forecasting growth of 7.8% this year;
• a population of 84 million, about half its population under 24 years old, this means consumption of virtually everything from properties to cars is going to climb;
• just became the youngest member of the World Trade Organisation (WTO);
• is going to experience the same growth pattern as China;
• malaysian investors which include property developers like Glomac Bhd, Klang-based WCT Land Bhd (currently in talks with three companies in Vietnam for possible joint ventures in mid-end township, residential and commercial development projects) and others like Mah Sing Group Bhd, SP Setia Bhd, Sime UEP Properties Bhd and Ireka Land Bhd;
• there is no shortage of unskilled labour supply and workers’ desire to learn;
• other side of Vietnam’s booming economy – the scarcity and need for basic infrastructures like road, power and utilities, accommodation and office space and transportation among others. (heavy manufacturing is not ready yet because infrastructure is not there. Power and utilities, road and transport systems and a host of other basic business and commercial needs must be improved.);
• good demand for Grade A offices and better accommodation. There are 10 major office places in Ho Chi Minh City, of which four to five are Grade A. There is also a great demand for quality offices and accommodation;
• Japanese and South Koreans were among the first to put up condominium townships because of the anticipation of demand and
• in Ho Chi Minh City, there are three to four shopping centres and a lot of government-owned shopping centres which is like the Kuala Lumpur in the 1980s.

• Vietnam-Real Estate News
• Gamuda Made Its Maiden Foray Into Vietnam
• Exploring IPO In Vietnam
• Glomac eyes Vietnam, Indian property marts
• Vietnam- Stock Exchange And Stock Market Consider as “ Emerging China’
• Vietnam’s shop space on sale at RM636,280 per sq m
• Vietnam bank in line for first foreign IPO-sources