Asian Holding CEO Nguyen Van Hau told VietNamNet that he hopes the government will take action to help recover the real estate market in 2023. The central bank is expected to loosen lending, thus allowing cash to flow into the real estate market and the interest rates to go down so that more people can access home loans. 

Hau, who thinks that difficulties which arose in 2022 will still exist this year, said he has not set an ambitious business plan, but is aiming for moderate achievements. The firm will focus on developing a new urban area in Binh Phuoc that it has taken over, and developing over 300 products, including social housing, townhouses and land.

If the market continues to face difficulties, it will focus on the market segment with products worth VND700 million on average. If the market goes better, it will also develop apartments and townhouse projects in provinces valued at VND2-2.5 billion.

“We are always flexible to get ready to cope with different situations. Since we have various plans, we weathered the storm over the last few years when the Covid-19 pandemic had a serious impact on the economy."

Nguyen Anh Que, chair of G6 Group, said in December 2022, he became aware of the government’s orientation for economic development in general and real estate market development in particular. 

It is expected that a large amount of capital will be pumped into the market in 2023, from which the real estate and construction sector will also get benefits. The public investments in 2023 which the government is trying to accelerate will also have a positive impact on the sector. 

“One of our business plans is completing procedures to buy three multi-story apartment buildings in Hanoi and putting them into operation by Q3 2024,” he said.

In addition, the company will seek to purchase suitable projects or design projects on the land it has. Secondary investment will also be a choice of the company. It will develop a new business field – developing projects for investors.

“We plan an IPO (initial public offering) in 2026 and to become a famous real estate firm with a complete real estate ecosystem,” he said. 

Le Thu Ha, chair of Ha An Group, believes that the market will recover in Q3 2023 as the government has applied a series of measures to help warm up the market. 

She hopes that the lifting of the credit growth rate limit will help ease interest rates, thus allowing sales of real estate products and better market liquidity.

Hong Khanh