|
|
|
Real Estate News Releases
|
(EMAILWIRE.COM, March 21, 2012 ) HA NOI, VIETNAM – Nhaban.com (It means mua ban nha dat in Vietnamese) reports on Vietnamese electronics giant Hanel’s acquisition of the Hanoi Daewoo Hotel.
According to Dtinews - Vietnamese electronics giant HanelÂ’s acquisition of the Hanoi Daewoo Hotel marks a bold move in the context of VietnamÂ’s current real estate sector.
Hanoi Electronics Corporation (Hanel) recently bought the entire stake in the formerly South Korean-owned hotel, but details of the dealÂ’s value have yet to be made public.
The Duc Khai Corporation and Phuong Trang Auto Real Estate Investment Joint Stock Company recent sold their New Pearl real estate project on HCM CityÂ’s Nam Ky Khoi Nghia Road to the Van Thinh Phat Investment Corp.
Developer Van Phat Hung handed over its stake in HCM CityÂ’s Tan Tao project in Tan Binh District to the Khang An Investment Real Estate Joint Stock Company for VND68 billion (USD3.25 million).
Phan Xuan Can, Chairman of M&A consultancy Sohovietnam Real Estate Consulting Joint Stock Company, said it was finalising procedures to take over around 80 real estate projects mainly located in HCM City, Hanoi and Danang worth hundreds of billions of dong.
According to Can, the fall in the real estate prices has pulled down mergers and acquisition prices in the industry, with average deals 30% cheaper than in 2010.
He estimated that a lot of real estate projects would be sold during this year due to investors facing financial difficulties.
“This year may see numerous real estate M&A deals if no solution is worked out to stir up the gloomy market,” he noted.
A recent report by CBRE Vietnam showed that real estate M&A deals in the first nine months of 2011 totalled USD251 million, ranking third after consumer goods and finance industries.
CBRE Vietnam forecast that the year 2012 may be a boisterous period for real estate M&A operations, as the sector attempts to heighten market liquidity and competitiveness.
The company explained that due to the lingering gloom hanging over the market in the past three years, together with tight monetary policies, many real estate companies have become unable to continue their projects and have been compelled to sell some of their projects to fund their operations.
Some others with better financial capacity have opted to sell some of their projects as they want to focus their investment in certain market segments.
About NhaBan.com (http://www.nhaban.com/).
NhaBan.com is a leading real estate website in Vietnam for homes for sale (It means nha ban in Vietnamese), homes for rent (It means thue nha in Vietnamese), land for sale listings (It means ban dat in Vietnamese), based in Ho Chi Minh city. NhaBan.com serves customers from Viet nam and locations around the world, including US, EU, ASIA, Australia.
Sieu Truc Tuyen Co., Ltd
Quang Pham Van
38777939
quang@luckyregister.net 
|
|
|
|
Real Estate News by Sector
|
|
|
|
|
