Property

The Hanoi People’s Committee has approved partial adjustments to the detailed planning for the central area of the West West Lake (Tay Ho Tay) urban area in order to harmonize it with the surrounding architecture and landscapes. Construction density will be reduced, the number of stories permitted cut, and office functions added.

Cushman & Wakefield believe that, compared to Indonesia, Malaysia, and the Philippines, the price of industrial land in Vietnam is still relatively low. Along with other factors such as a stable macroeconomic situation, low inflation, and advantages in infrastructure and transportation, Vietnam therefore has the potential to become a leading industrial center in the region.

Cushman & Wakefield Vietnam has said that demand for apartments and townhouses in Ho Chi Minh City has slowed down as the central bank’s credit control policies have made it difficult to disburse loans to homebuyers.

Southern Binh Phuoc province attracted 70 FDI projects last year with total capital of $600 million, bringing its total to 346 FDI projects with more than $3.579 billion in capital. With such achievements, Binh Phuoc has been promoting itself as a “magnet” for FDI. It also continues to boost the development of industrial parks, which not only has a positive effect on changes to its economic structure and resolves job needs, but also grows the local budget.

The Ministry of Construction is formulating national urban and rural area planning for the 2022-2030 period and vision to 2050, to build and develop a harmonious and balanced urban network between regions, urban areas, and the countryside. The development of high-rise buildings will be strictly controlled in inner cities, with the concentration of hospitals and universities in central urban areas reduced and industrial facilities outside of urban areas relocated.

Deputy Prime Minister Le Van Thanh has signed Decision No. 1119/QD-TTg approving the investment policy on construction and infrastructure business at the Dong Soc Industrial Park in northern Vinh Phuc province, with the Vinh Phuc Trading Investment Company being the project investor. The project sits on 206,560 ha straddling Van Xuan commune, Vu Di commune, and Tu Trung town in Vinh Tuong district. Total investment is VND2.238 trillion ($94.85 million), including VND335.718 billion ($14.21 million) contributed by the investor and VND1.902 trillion ($80.64 million) mobilized from other sources.