Illustrative image (Source: VNA)
Binh Dinh (VNA) – The Vietnam Real Estate Association (VNREA) convened its annual meeting in Quy Nhon city, the central coastal province of Binh Dinh on April 1, with 500 delegates representing firms and members taking part.

Apart from the official meeting, the VNREA’s executive board also converged a plenary session to adopt its 2017 action plan and witnessed the signing of a cooperation agreement with the Cambodian Valuers and Estate Agents Association (CVRA).

Speaking at the event, Deputy Minister of Construction Bui Pham Khanh said as much as 92 trillion VND (4 billion USD) was poured into real estate developments as of the end of the first quarter this year, adding that the ministry has received and considered VNREA’s recommendations to refine relevant legal documents, thus creating a favourable and transparent environment for the property market.

VNREA Chairman Nguyen Tran Nam affirmed that the real estate market is developing stably with growing foreign direct investment and improved liquidity.

The association will focus on expanding ties with its counterparts in Southeast Asia in the near future, thereby creating favourable conditions for both sides to navigate each other’s markets, he said.

According to him, VNREA is looking to join relevant professional organisations on the global scale as well as host the World Real Estate Congress in the country, which he said, will enable Vietnam to popularise its property market, tourism and the people to international friends.

The VNREA’s annual conference provides a venue for developers to meet policy makers, leading experts and foreign associations in the field.-VNA