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Update news real estate developers
The real estate market was stagnant in 2019 and it will continue to be soft in 2020, when many businesses and contractors are expected to go bankrupt because of the lack of projects.
VietNamNet Bridge - Many big real estate developers have taken bold steps to develop large urban area projects, which in the past were implemented only by foreign investors.
VietNamNet Bridge - After eight years of focusing on real estate projects in HCMC, real estate developers now tend to eye land in the southwestern region of the country.
VietNamNet Bridge - Sofitel Plaza Hanoi and Duxton Saigon have been transferred to new owners at a time when many new hotel brands have opened in Hanoi and HCMC.
VietNamNet Bridge - Many successful merger & acquisition (M&A) deals in the hotel sector were reported in the first six months of the year. Some of the deals were worth hundreds of millions of dollars.
VietNamNet Bridge - Holding important positions and huge amounts of shares, many businessmen have received salaries and bonuses of hundreds of billions of dong for 2015.
VietNamNet Bridge - Real estate developers have complained about the regulation that limits foreign ownership to no more than 30 percent of apartments in one project and no more than 250 houses in one ward.
VietNamNet Bridge - The move of South Korean Lotte taking over Diamond Plaza has been followed by a Hong Kong fund buying Indochina Land’s projects. More deals are expected to be made this year.
Commercial banks can find all favorable conditions at this moment to run the credit programs to fund house purchases.