Business

FDI boon for HCM City property

The HCM City property sector has attracted more than 1.42 billion USD worth of foreign direct investment this year, the city's Statistics Office has reported.
FDI boon for HCM City property ảnh 1A model of Empire City (Photo: VNA)

The HCM City property sector has attracted more than 1.42 billion USD worth of foreign direct investment this year, the city's Statistics Office has reported.

The amount accounts for almost 62 percent of total FDI in the period.

The city has granted licences for 327 projects with total registered capital of more than 2.31 billion USD.

The city continued to overwhelmingly top the country in terms of FDI in property, accounting for nearly 78.5 percent of the total investment of 1.82 billion USD in 18 new projects and seven existing ones that are expanding.

They include a 1.2 billion USD joint venture in HCM City between several local firms and Denver Power Ltd of the UK.

Experts forecast a torrent of FDI in the property sector by year-end thanks to the changes to the Law on Housing and Real Estate Business that allow foreigners and overseas Vietnamese to buy houses in Vietnam.-VNA

VNA
#property #real estate #foreign direct investment #fdi Ho Chi Minh City
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