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Hong Kong developers hope to put recent setbacks behind them as they launch projects at discounts of up to 20 per cent

Hong Kong developers, taking advantage of the calm that has returned to the city, on Thursday launched projects at prices that undercut rivals by up to 20 per cent, hoping to attract buyers who have adopted a cautious approach.Wing Tai Properties said it would sell flats at OMA OMA in Tuen Mun at an average price of HK$12,463 per square foot, some 20 per cent lower than Sun Hung Kai Properties’ Mount Regency phase two, which is also in the same area. The city’s largest developer is putting 130… Source…

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Vietnam 

Housing projects to see more inspections – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A view of HH Linh Đàm Urban Area, which violated its approved plans by adding extra floors, Hà Nội’s Hoàng Mai District. VNS Photo HÀ NỘI The Ministry of Construction and localities must conduct inspections on urban areas that may have violated their approved plans and issue strict punishments if violations are found, Deputy Prime Minister Trịnh Đình Dũng said at a National Assembly (NA) question and answer session on Wednesday. He said NA deputies and the public had expressed concern about urban plans being arbitrarily adjusted to suit investors. Infrastructure had been overloaded in some cases…

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Vietnam 

Loss-making projects to be handled in 2020 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Đình Vũ Polyester Fiber Plant (PVTex) – one of 12 loss-making projects – has resumed operations. — Photo cafef.vn HÀ NỘI — Twelve delayed or loss making projects under the Ministry of Industry and Trade (MoIT) would be resolved by 2020, according to the ministry’s Planning Department. Deputy Prime Minister Vương Đình Huệ, head of a steering committee set up to handle these projects, said the ministry had completed 75 per cent of the targets set under a plan for 2017-19. Two of the 12 projects (DAP Fertiliser 2 Hải Phòng, Việt Trung…

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Vietnam 

Ninh Thuận builds more solar, wind projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    HCM CITY — The central province of Ninh Thuận aims to become the renewable-energy centre of the country, with assistance from the central government’s preferential policies.   Bùi Nhật Quang, vice chairman of the Việt Nam Academy of Social Sciences, said the development of renewable energy such as wind and solar energy has become a necessity in a time of depleting natural resources such as fossil fuels. Quang spoke at a conference on renewable energy held in the province last Friday.  Experts noted that the province should be careful about building too many…

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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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China to end government subsidies for onshore wind power generation projects by 2021, state planning agency says

China will end subsidies for new onshore wind power projects at the start of 2021, with renewable projects set to compete on an equal footing with coal- and gas-fired electricity, the country’s state planning agency said on Friday.The move is a milestone for the renewable energy sector, which has traditionally relied on subsidies and other preferential policies to encourage developers to build plants.China pays a relatively high tariff per kilowatt hour (kWh) of electricity produced by wind or… Source link

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Vietnam 

Bà Rịa-Vũng Tàu to revoke delayed seaport projects – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A corner of Cái Mép-Thị Vải Port in Phú Mỹ Township in the southern province of Bà Rịa-Vũng Tàu. — VNA/VNS Photo Đoàn Mạnh Dương HÀ NỘI — Authorities in the southern province of Bà Rịa-Vũng Tàu will revoke investment licences from investors who are not capable of developing seaport projects in the province, according to Lê Tuấn Quốc, deputy chairman of the provincial People’s Committee. Speaking at a meeting on seaport and internal waterway projects held in the province on Tuesday, Quốc told the provincial Department of Planning and Investment to work with investors of…

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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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Prominent Utah investor’s US$150 million fund eyes real estate projects in secondary US cities that promote social good

Real estate moguls, banks and money managers are rushing to capitalise on a new US tax break rewarding investments in poor communities. Now, one of the biggest names in impact investing is aiming to prove the perks are about more than profits.Jim Sorenson, a prominent Utah entrepreneur, investor and businessman, plans to announce on Monday that Catalyst, a private equity firm he helped found, is raising US$150 million to invest in opportunity zones. The group’s first fund, which Sorenson is… Source link

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China 

US-China trade war, financial transparency to spur more belt and road projects, says Standard Chartered

The ongoing US-China trade war and Beijing’s commitment to adopt internationally recognised best financial practices will lead to more infrastructure projects in countries covered by the Belt and Road Initiative, according to Standard Chartered.The global bank, which serves Chinese clients’ project financing needs in 45 markets across belt and road, expects continued growth in business this year despite earlier criticism that some projects have mired host nations in “debt traps” because of… Source link

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