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Tuesday, June 18, 2024 12:00:07 AM - Markets open
VN-INDEX 1,274.77 -5.14/-0.40%
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South Korea, Japan, Singapore scouting for real estate opportunities in Vieät Nam
Vietnam News - 4/25/2016 11:18:39 AM
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On April 12 South Korean securities firm Mirae Asset Securities Co. announced it would join hands with global investment company AON BGN, a former AON Holdings, to take over Keangnam Hà Nội Landmark Tower in Hà Nội.

They will pay 400 billion won (US$349.80 million) including 300 billion won from Mirae Asset, the largest overseas alternative investment made by  the company. Earlier this year Singaporean real estate developer CapitaLand, decided to buy Somerset Vista and Vista Walk in Hồ Chí Minh City from Nguyên Bình Commercial Joint Stock Company for $46.5 million.

Another Singaporean developer, Keppel Land, paid $93.9 million to acquire the Empire City real estate project from the Thành Phố Đế Vương joint Venture Company.  

Many foreign investors, including from South Korea, Japan, and Singapore, are coming to the study the real estate market.

Some are eyeing office buildings, whether already completed, under construction, or scheduled to be built, in Hà Nội and Hồ Chí Minh City.

According to CBRE Việt Nam, the real estate market has seen a boom in high-value mergers and acquisitions (M&A) in the first quarter, with the total value estimated at a billion dollars or more.

The increase in M&A activities has been attributed to a rise of liquidity in the market, low credit interest rates and a low supply of property products relative to demand.

Besides, large investors seem to prefer buying existing projects instead of applying for fresh licenses.

Some analysts also attributed it to the changes in the law.

Decree No.76/2015/NĐ-CP that guides the Law on Real Estate Business allows real estate investors to sell their projects in whole or part. It has made a significant contribution to the increase in M&A activities by making transactions more transparent.

M&A deals are expected to get added momentum from the several free trade deals Việt Nam has signed.

Analysts said while Việt Nam remains a magnet for foreign developers and investors, the Government needs to facilitate foreign investment in real estate by resolving land title and clearance issues.
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Older News
20/04 Real estate M&As spiked in first quarter
15/04 Condotel attracts foreign investors
11/04 Vingroup scores hattrick at Asia Pacific Property Awards
08/04 HDBank offers exemptions for Mon City
06/04 Apartment prices up in Q1
04/04 M&As pave way for projects
04/04 US$1.3bn housing stimulus to be extended
04/04 Private developers lead way in Vietnam
24/03 Boon for Vietnam property market as more overseas cash goes home
24/03 Real estate urged to seek out stable capital
 
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