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Property supply accelerates

After Lunar New Year, numerous big real estate projects are planned to open for sale in 2018. For example, Hung Thinh developer with its Grand Nest City project at Dao Tri street in District 7. Thu Duc Housing Development Company and Daewon Company Limited are also planning to launch Centum Wealth project with a total area of 11,582 sqm in the first quarter of 2018. Notably, in this year, Novaland real estate giant is expected to launch a large campaign with four projects in Saigon East with more than 12,000 apartments. High-end apartment projects were also launched in Hanoi East and Hanoi South such as Hinode City, T&T 120 Dinh Cong or Sunshine Sky Park. FLC Group also launched three projects in January, including Quang Binh FLC Resort, FLC Eco Charm Da Nang and FLC Asia Park Hanoi Urban Area. Talking about potential of real estate market 2018, Nguyen Hoai An, Research Director of CBRE Vietnam, said that positive foundation of macroeconomy 2017, GDP growth rate of 6.81pct, and FDI influx of nearly US$36 billion will continue to create driving force for the market in 2018.