Projects are storming the real estate market in the Ghost month
Contrary to the concept of avoiding real estate trading in the seventh lunar month, this year's market in the month showed positive signs; many special projects attracted clients on the first day of launch, without having to offer incentive programs as usual. In Ho Chi Minh City market, early July of the lunar calendar, within 17 days of its official launch, 10,000 apartments at Vinhomes Grand Park (District 9) of Vingroup have been sold out, breaking any records of the real estate market ever.
Foreign investors pour over US$22.63 billion into Vietnam first eight months
According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, $9.13 billion was poured into 2,406 new projects, down 32.3 percent and up 25.4 percent year on year, respectively. Vietnam News Agency reports. Nearly $4 billion was added to 908 existing projects, down 28.6 percent and up 23.4 percent, respectively, the FIA said, noting that during the eight months of 2019, there weren’t any projects with big additional capital like in the same period last year.
Projects are storming the real estate market in the Ghost month.
Foreign investors pour over US$22.63 billion into Vietnam first eight months.
Vingroup buys out Queenland Mart
Private conglomerate Vingroup has acquired supermarket chain Queenland Mart, as it continues its buying spree since last year to expand. Queenland Mart’s eight stores, mostly in Ho Chi Minh City’s Districts 2 and 7, began operating as Vingroup’s VinMart outlets on Sunday, Vingroup said in a statement without revealing the value of the deal. Queenland Mart membership will be transferred to VinID, the customer care service of conglomerate Vingroup, which owns VinMart supermarkets and VinMart+ convenience stores across the country. The number of VinMart supermarkets increases to 120 after the deal. Combined with VinMart+ convenience stores, Vingroup now has a total of 2,122 retail outlets.
“Golden age” to invest in Ha Long real estate
With adequate infrastructure, facilities, and economic growth, the year 2019 can be the perfect time to invest in Ha Long real estate. Besides Phu Quoc, Da Nang, Nha Trang, Ha Long is one of the beach cities that have the most attractive property markets. In Quang Ninh, there have been a number of completed projects which play an important role to the city’s growth in 2019, such as Ha Long international ship port, Van Don international airport, Ha Long - Hai Phong and Ha Long - Van Don expressway. The city’s economic growth is another contributing factor, especially in the tourism industry, drawing a huge attraction for real estate development. Total revenue from tourists to Ha Long reached nearly VND 12 trillion, up 25% over the same period.
Three top travel agencies to equitise soon
The Voice of Vietnam
Three leading travel agencies in Vietnam, which own a range of luxury hotels, look set to equities by the end of next year. They are Saigontourist Holding Company, Ben Thanh Group and Hanoitourist Travel Co Ldt. The three companies are included in the list of 93 State-owned enterprises that were approved for equitization before the end of 2020 under a decision recently signed by Prime Minister Nguyen Xuan Phuc. Hanoi tourist Corporation was established in 1963 and converted to a limited liability company in 2010. The corporation has 40 affiliated units, member companies, joint-stock companies and joint venture companies. They include Hanoitourist Travel Company, Hanoi Service and Tourism Company and Hanoi Entertainment Service Company, which operates Hanoi West Lake Park. They also have offices for rent in many prime locations in the capital city. Notably, Hanoitourist owns the most luxurious hotel system in the northern region.