Business News

Deputy Prime Minister Trinh Dinh Dung has signed a Decision on establishment of Quang Yen Coastal Economic Zone in the Northern province of Quang Ninh.

Located in the heart of the Thu Thiem new urban area – on Crescent Boulevard, Primary Ring Road – The River is a gated condominium development comprising three residential towers offering a total of 525 luxury apartments. Nestled on the Saigon River, this project boasts 100-meters of water frontage and sits adjacent to four hectares of lush riverside landscaped public park.

Ho Chi Minh City’s Department of Planning and Architecture is preparing a plan to turn several industrial parks (IPs) and export processing zones (EPZs) into hi-tech industrial parks.

The real estate sector saw the highest growth in the number of enterprises registering for a temporary suspension between January and August at 923 firms, skyrocketing by 136% year-on-year, due to the impact of the coronavirus pandemic.

Endowed with diverse advantages coupled with an open investment environment, enabling policies, and friendly and open-minded authorities, Quang Ngai province has become an attractive destination for domestic and foreign businesses and investors. Dung Quat Economic Zone and industrial parks in the province play a vital role in promoting socioeconomic development and attracting investment into Quang Ngai province as well as the central key economic region.

The prices of some existing apartments on Đồng Văn Cống Street and Hà Nội Highway in District 2 have increased by nearly VNĐ300-400 million (US$12,944-17,259) each since early 2020.

“Housing prices will begin to plummet by the end of this year and bottom out by mid-2021 when the [COVID-19] pandemic has impacted almost every sector, especially the housing market,” Tran Khanh Quang, general director of Viet An Hoa Company, said.

Foreigners have bought some 16,000 housing properties across the country since they were allowed to do so in 2015, according to the Ho Chi Minh City Real Estate Association (HoREA).