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While global transaction volumes in the first quarter of the year slipped slightly, standing at USD 134 billion, 2% lower than Q1 2016
Swell of investment stock bodes well for real estate in 2017
While global transaction volumes in the first quarter of the year slipped slightly, standing at USD 134 billion, 2% lower than Q1 2016, the build-up in activity is forecast to bear fruit through the rest of the year. JLL explains that while the Q1 figures are down, global real estate markets are likely to hold strong in the coming months. Our forecast for full-year 2017 remains stable at around USD 650 billion but if we continue to see the same level of investor activity, we will look to upgrade this at the end of Q2.
Long An takes lead in attracting FDI in Mekong Delta
Currently, Long An Province took the lead in attracting FDI among localities in the Mekong Delta with nearly USD 6 billion in 800 projects. The total FDI realization accounted for more than 50%, reaching around USD 3 billion. From now till 2020, the province is calling for investment in 16 projects with a total investment of more than USD 7 billion, and striving to become a modern and sustainable industrial province.
First four months of 2017, 4.3 million foreign tourists visited Vietnam
The number of international arrivals to Vietnam increased by 30% on-year during the first four months of 2017, reaching 4.3 million. Vietnam was recently ranked the third safest travel destination in Southeast Asia by the World Economic Forum. Hanoi, HCMC and Hoi An have also been named among the most low-cost places to visit by the Backpackers Index. The country is on the way to reach its target of welcoming 11.5 million international and 66 million domestic visitors this year, which is projected to contribute over USD 20 billion to the economy.
HCMC opens jewellery streets
HCMC authorities opened branded jewellery streets in District 5 on April 27 in a bid to honour jewellers and attract tourists. About 200 metres of Nhieu Tam Street and 350 metres of Nghia Thuc Street were chosen for the project. This is the first step to develop the goldsmithing streets and encourage tourists to spend more.
FDI attraction up 40.5% in four months
As of April 2017, as many as 734 newly-registered projects were granted with investment certificates with a total registered capital of USD 4.9 billion, equal to 96% of the same period last year, and USD 4.8 billion in FDI were disbursed, up 3.2%, according to the Foreign Investment Agency. Among 56 provinces in Viet Nam, Bac Ninh led in attracting FDI with USD 2.7 billion, making up 25.5%, followed by Binh Duong and Kien Giang with USD 1.5 billion and USD 1.3 billion, respectively.
Only 14 of 1,516 old building in HN renovated
HÀ NỘI — Ten years after beginning renovation work on old apartment buildings in Hà Nội, the city has renovated 14 of some 1,516 old apartment buildings, a seminar has reported. Deputy Chairman of the city People’s Committee Nguyễn Thế Hùng said renovating old apartment buildings was very difficult. Although city authorities, concerned offices and experts have mapped out plans, they were extremely hard to implement, he said.
City breaks ground on bus terminal
HCM CITY — The Sài Gòn Transportation Mechanical Corporation (SAMCO) has broken ground for construction of the new Eastern Bus Terminal (Bến Xe Miền Đông) in HCM City’s District 9. The terminal complex, which will include convenience services, will be located in Long Bình Ward in District 9 and in the southern province of Bình Dương’s Dĩ An Town, the SAMCO announced on Wednesday.
Infrastructure attracts investment to north Việt Nam
HCM CITY – The newly established five modal (rail/road/air/river/sea) infrastructure network has brought a great deal of investment to the Red River Delta, especially Hải Phòng, delegates told a seminar held in HCM City on Wednesday. Hans Kerstens, international business development manager at Deep C Industrial Zones, said in the last five years the north has become the most popular investment destination for foreign companies.
Demand up for 5-star HN hotels
Average occupancy of five-star hotels was up four percentage points quarter-on-quarter (QoQ) and 10 percentage points year-on-year (YoY) to 74 per cent, according to a quarterly report by Savills Viet Nam. The hotel segment performed well in terms of occupancy and price in the first quarter this year, the company said. Average room rates were up 21 per cent QoQ and 41 per cent YoY. Revenue per available room was up 28 per cent QoQ and 64 per cent YoY.
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