Vietnam 

Major projects languish as speculators abandon land plots – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A deserted area in a real estate hotspot in HCM City’s District 9. — Photo cafeland.vn   HCM CITY — Property speculation and a lack of roads and facilities such as hospitals, schools and shopping malls have led to a number of so-called “deserted towns” in real estate hotspots in HCM City.   In recent years, a number of huge residential and urban projects have attracted investment in districts 9, 2, 12 and Cần Giờ District. However, most of the areas, located in spots where so-called land fever has occurred,…

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Vietnam 

Land clearance for expressway should be completed soon: ministry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY Officials have been told by the Ministry of Transport to finish land clearance for the ongoing Bến Lức-Long Thành Expressway project, which has been delayed because of several problems. Nguyễn Ngọc Đông, deputy minister of Transport, said the Bến Lức-Long Thành Expressway (connecting Long An Province to Đồng Nai Province) was lagging behind schedule due to difficulties in land clearance compensation in HCM City and Đồng Nai Province. For example, HCM City’s Bình Chánh has around 26 households that have not handed over their land, some of which have…

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Hong Kong-listed developer Beijing Capital Land fast tracks projects to stay competitive, reports 70pc sales increase

Hong Kong-listed Chinese state-owned developer Beijing Capital Land has reported a 70.6 per cent surge in cumulative contracted sales to 18.8 billion yuan (US$2.7 billion) for the first four months of 2019, on the back of a switch to a strategy of fast turnovers.Ongoing cooling measures put in place by the Chinese government have pushed the company to reduce its average project cycle by 58 days to boost sales. Beijing Capital now tries to obtain project presale permits within nine months, as… Source link

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First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion

The first seafront commercial plot of land on the runway of Hong Kong’s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city’s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win the tender for Kai Tak 4C Site 4, the second commercial plot on the runway to be offered for sale. At HK$12,888 per square foot, the sale was broadly in line with a forecast of HK$13,000 per… Source link

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Kai Tak’s third-largest plot of residential land goes to Henderson-led consortium for record HK$12.6 billion

A consortium of six developers including Henderson Land Development agreed to pay HK$12.6 billion (US$1.6 billion) for the third-largest residential plot at the runway of Hong Kong’s former Kai Tak airport. The total price translates to HK$19,636 per square foot, which means a flat complex built on the site will sell for at least HK$30,000 per sq ft, inclusive of a construction cost of HK$5,000 per sq ft and a 20 per cent profit margin for the developer. Besides Henderson, the consortium… Source link

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Property 

New home prices in Lohas Park decouple from soaring land premium amid abundant supply

Prices of new flats in Lohas Park in Tseung Kwan O have fallen to near 2017 levels despite soaring land costs in the area, contradicting a strong recovery in the world’s most expensive property market.Late last month, Wheelock Properties released flats at its Montara project at a steeper than usual discounts to woo buyers. The move came a day after MTR Corp on April 25 awarded the 11th phase of development at Lohas Park, in which land premium paid to the government surged to a record HK$3,194 … Source link

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Global 

China’s central regions lure manufacturing from the affluent coast, with low labour and land costs

Foreign investment is rising rapidly in central China, as many manufacturing firms move production away from the coastal regions in search of lower costs inland.Rapidly rising costs – everything from wages to land prices to taxes – have made manufacturing increasingly unprofitable in the coastal regions, especially in the export hubs of the Pearl River and Yangtze River Deltas.Tariffs on US$250 billion of Chinese exports due to the US-China trade war have not helped, only serving to drive up… Source link

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Developers rush to bid for Kai Tak’s latest residential land plot as bull market returns to Hong Kong’s real estate

Developers submitted seven bids for the third-largest residential plot at Hong Kong’s former Kai Tak airport, as April sales data showed home transactions jumping by 52.8 per cent from March, in a clear sign of the bull market’s return to the world’s most expensive city.Kai Tak’s Area 4C Site 2, a sliver of land sitting on the former Kai Tak runway, can yield 641,168 square feet (59,566 square metres) of gross floor area. It is valued at HK$11.5 billion (US$1.47 billion), or HK$18,000 per… Source link

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The Marq by Hongkong Land makes a splashy debut in Ho Chi Minh City

[Sponsored Article]  Ho Chi Minh City’s CBD skyline will be getting an exciting update in 2022 when Hongkong Land completes construction of The Marq, its newest luxury development in the heart of the city. Introduced to the market at the end of March 2019, the luxury condominium project The Marq has been a hot topic of discussion in the real estate investor community in Ho Chi Minh City for the past few weeks. The long-awaited project is a combination of a desirable central location, luxurious… Source link

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Consortium of three developers wins bid for priciest land plot in Lohas Park, signalling bullishness on outlook

A consortium made up of Sino Land Company, K. Wah International Holdings and China Merchants Land beat out 10 rival bids to win the latest phase of the Lohas Park development, the project that could fetch the highest new flat prices in the community, the MTR Corp said on Thursday.“The winning developers have great experience in residential property development and sales,” said Thomas Lam, executive director of Knight Frank. “In the long term, the supply of residential land at MTR stations is… Source link

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