Property

North-central Nghe An province will adjust the purpose of use of more than 295 ha of land for rice cultivation and more than 40 ha of protective forest to implement 204 works and projects, in roads, electricity, irrigation, and resettlement areas, and expand the scale of factories and workshops.

The Hai Duong Provincial People’s Committee in Vietnam’s north has reported on construction planning for Thanh Ha district to 2030 and vision to 2050, under which it will be developed as a priority area for technological agriculture combined with the development of eco-tourism, trade in services, high-tech industry, and an ecological urban area.

The Department of Planning and Investment in north-central Nghe An province is inviting investors to implement the Bac Nghi Kim urban area and Nghi Kim residential area projects in the provincial capital Vinh. The goal is to build a new urban area on a total area of nearly 18 ha in the city with a total construction cost of about VND1.2 trillion ($52.27 million). Investment categories include a social housing area, a supermarket, a service area, public works, garden villas, and adjacent houses.

The rapid development of e-commerce has led to greater demand for leasing land, factories, and warehouses. Many foreign investors are therefore spending billions of dollars on investment strategies in Vietnam’s industrial and logistics real estate segment.

Data from real estate platform Batdongsan.com reveals that while investor interest in most of the country’s property markets has fallen sharply due to Covid-19, northern Bac Giang and Bac Ninh province continue to attract widespread attention, with interest in the former rising 22 per cent and the latter 44 per cent from June to July.

The Ho Chi Minh City Real Estate Association (HoREA) has recommended that the State Bank of Vietnam (SBV) and commercial banks consider offering support to real estate businesses, investors, and borrowers. It proposed cuts of 2 per cent per annum to lending interest rates, facilitating access to new loans, and offering support in tax and land use fees.