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CBRE Vietnam’s Top Property News Stories – W18/2015

40 years after end of war, the Vietnam People's Army is a capitalist juggernaut, Vingroup starts 2 investment projects in Quang Ngai province, 5 more overpass walking bridges will be built in Hanoi…

 

Goldman Sachs and QIA Vie to acquire Ha Noi's 72-storey

Bizhub

Goldman Sachs and the Qatar Investment Authority are reported to have bid for Keangnam Hanoi Landmark Tower, the highest building in Viet Nam's capital city whose value is estimated at more than US$1 billion, according to the Korea Economic Daily. The 72-storey landmark was recently on the news in relation to Mr. Sung Wan-jong, the former head of construction firm Keangnam Enterprises who killed himself after investigations on secret dealings with top Korean politicians.

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Surf, Sand and Software Turn Danang Into Vietnam’s ‘It’ City

Bloomberg

Forty-five years later, Palazzo is back, this time as a tech entrepreneur contributing to the planned construction of one of Southeast Asia’s most modern cities. The roar of F-4 Phantom jets has become the rumble of bulldozers, the rattle of Huey helicopter rotors has been replaced with spinning casino slot machines; instead of bullets, golf balls whizz down world-class fairways.

 

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40 years after end of war, the Vietnam People's Army is a capitalist juggernaut

USNews

HO CHI MINH CITY, Vietnam (AP) — Vietnam's busiest airport, once a major gateway for thousands of U.S. troops headed for battle, is now the scene of a slow-burning controversy linked to the commercial clout of the country's powerful military.

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Vingroup starts 2 investment projects in Quang Ngai province

CafeF

On April 29th 2015, Quang Ngai People’s Committee has approved two projects invested by Vingroup. These are  Commercial Center Project at bus station location (Le Thanh Ton Street, Dist. Quang Ngai) and Complex of High-end Resorts  Project covering an area of 2,000 hectares in Binh Chau beach, Binh Son District. [The original article is available in Vietnamese only.]

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5 more overpass walking bridges will be built in Hanoi

CafeF

5 overpass walking bridges will be built in areas which are around Cancer Hospital, Academy of Security, Lane 108 Nghi Tam Road, Me Linh Plaza and Yen Phu street. Hanoi People’s Committee has assigned the Department of Transport and Department of Planning and Architecture to complete procedure plans as approved design in order to make the financial appraisal before May 15th and start conducting in September 2015. [The original article is available in Vietnamese only.]

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Vietnam Jan-April actual FDI up 5 pct y/y at $4.2 bln

Thanh Nien News

Vietnam received an estimated $4.2 billion in actual foreign direct investment (FDI) in January-April, up 5 percent from the same period in 2014, the Planning and Investment Ministry said on Friday. However, new FDI pledges in the first four months fell 17.1 percent from a year ago to $2.68 billion, with most of the funds going to processing industries and property projects, the ministry's Foreign Investment Agency said in a statement. Additional funds to existing projects fell 35.7 percent to $1.5 billion.

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Sharp drop in international arrivals

Vietnam News

The number of international visitors arriving in Viet Nam during the first four months of this year dropped by 12.2 per cent from the same period last year to 2.69 million. Visitors arriving by air, made up for 83 per cent of the total international arrivals, and fell by 9 per cent over the same period last year, while arrivals by train and road dropped by a hefty 30 and 25 per cent, respectively. In April alone, Viet Nam received more than 690 international visitors, rising by 11.7 per cent from the previous month, but dropped by 7.4 per cent over the same month last year.

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Vietnam's largest private lender VietinBank faces criminal investigation

Thanh Nien News

Government inspectors have proposed an investigation into violations found at VietinBank after checking its activities from 2009 to 2012. There were many violations, including hiding bad debts, beaking lending regulations and setting higher deposit interest rates than allowed, not following the rules on using capital from government bonds, investing into risky businesses and buying real estate without proper planning and assessment….

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