The Ministry of Natural Resources and Environment has told Hanoi City to stop revoking certificates of home ownership rights from owners of apartments constructed by Muong Thanh Group.
The director of the provincial Department of Natural Resources and Environment was grilled over the illegal division of farmland into small lots for sale and fake property projects at the provincial People’s Council meeting on July 17, the local media reported.
While many people are showing interest in purchasing apartments in HCMC, land lots are the most preferred property product in Ba Ria-Vung Tau Province.
FLC said it established FLCHomes Real Estate Investment and Development Company in March with key leaders who were from the group’s marketing department with an aim to create an ecosystem of property products.
Lotte E&C, a member of South Korean giant Lotte Group, has recently entered a strategic partnership with Ho Chi Minh City-based major developer Novaland for high-end project development.
As there is no sign of a real estate bubble in the first six months of 2019, the local property market, mainly in HCMC and Hanoi City, is expected to see a strong rise in home supply in the second half of the year, according to a report from the Vietnam Association of Realtors.
Despite occupying a small proportion of the Vietnamese property market, the luxury residential segment is becoming more attractive to domestic and international buyers.
Developers of condotels and second home properties are providing more options for buyers by offering alternative incentives rather than the vanilla profit commitment.
Japan’s Mikazuki Corporation wants to invest US$50 million in building a “night town” for entertainment and shopping activities next to its Mikazuki Spa and Hotel Resort in the Xuan Thieu beach area in Danang Bay.
The Laimian City project is located in the An Phu - An Khanh Urban Area complex in HCMC’s District 2 and was approved by the Prime Minister under Decision No. 1042/QD-TTg dated November 16, 1998. The site was allocated for the project under Decision No. 783/QD-TTg dated August 13, 1999.