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Another vibrant year awaits Vietnam’s property market

Last year witnessed many mergers and acquisitions (M&As) in Vietnam’s real estate sector, and foreign investors’ interest in the market is forecast to continue in 2018.
Another vibrant year awaits Vietnam’s property market ảnh 1Visitors to an event introducing real estate projects (Photo: VNA)

Hanoi (VNA) – Last year witnessed many mergersand acquisitions (M&As) in Vietnam’s real estate sector, and foreigninvestors’ interest in the market is forecast to continue in 2018.

Thu Thiem, a new residential area in Ho Chi MinhCity, recorded several big deals last year, including cooperation to developthe Thu Thiem River Park project between Hongkong Land and Ho Chi Minh CityInfrastructure Investment Joint Stock Company.

Also in the fourth quarter of 2017, CapitaLandannounced it had bought a condominium project covering 1.45ha in District 4 ofHCM City at 40 million USD. The purchase raised the number of housing projectsowned by the Singapore-based firm to nine in HCM City and 11 in Vietnam.

Many insiders expressed belief that 2018 will beanother big year for foreign investment in Vietnam’s property market.

Senior Director of CBRE Vietnam Duong Thuy Dungsaid real estate led all sectors in attracting foreign investment in HCM Citylast year. She predicted it will continue to be a magnet for foreign investmentin 2018, and investors from Asia, especially Japan, will still make up themajority.

[Property market attracts 77.6 million USD in FDI in January]

 “In 2018, foreign investment in the propertymarket will begin to reap outcomes when projects are finished and handed overto clients,” she noted.

However, she added, domestic businesses stilllead, which can be seen in their total investment capital in the market and thetotal number of projects for sale.

Echoing this view, Stephen Wyatt, Country Headof JLL Vietnam, said Vietnam has considerable attraction to foreign investorsthanks to its huge potential. Real estate was among the top five sectorsreceiving most foreign direct investment in the country in 2017.

In 2018 and the next several years, foreigninvestors will keep pouring their money into Vietnam’s real estate market,particularly through M&As, he added.-VNA
VNA
#real estate sector #Vietnam’s property market #property mergers and acquisitions #foreign investment in property sector #Thu Thiem River Park #property projects #CapitaLand #updated Vietnam news #Vietnamplus #Vietnam News Agency
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