Illustrative image (Source: VNA) According to the Foreign Investment Agency under theMinistry of Planning and Investment, there were 75 new projects in the sector during this yearwith a combined capital of more than 1.8 billion USD, and 37 others adjusting their investment capital up by a total 1 billion USD.
Meanwhile, 103 transactions of capital contribution and sharepurchase were recorded in the sector with an accumulative value of around 1.6billion USD.
Notably projects included the 900 million USD LotteEco Smart City complex in Ho Chi Minh City and the Green Park, developed by YSLGroup from the Republic of Korea (RoK), covering nearly 300 hectares in thenorthern province of Vinh Phuc.
The sector also saw several major M&A deals that CapitaLand Development (CLD) of CapitaLand Group divested the Grade-A office building Capital Place in Hanoi for 550 million USD, and Keppel Land's purchase of a49% stake in three residential land plots in Hanoi’s Hoai Duc district for atotal of 119 million USD.
Substantial potential remains for the domestic propertymarket in particular and the national economy in general, Nguyen The Diep fromthe Vietnam National Real Estate Association told Lao dong (Labour newspaper),noting that the real estate sector is expected to attract more foreigninvestments next year.
Pointing out challenges to the market, he suggestedthat relevant policies should be adjusted to match the new situation.
Economist Dinh Trong Thinh stressed the need to carefully select investors, with their financial capacity, investment capitaland reputation taken into consideration.
Vietnam attracted a total of 27.72 billion USD in FDIas of December 20, equal to 89% of the figure recorded in the same period lastyear./.
VNA
