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Hotels in Ho Chi Minh City are suffering from low occupancy rates due to a sharp drop in international visitor arrivals and domestic tourists’ preference for traveling to beaches. In May, amid a wave of hotel closures and conversions into office buildings,…
Property developers in southern Vietnam are selling off their assets despite losses to pay debts amid a slump in demand. A property developer in District 1, which develops projects in southern Ho Chi Minh City and Binh Duong Province, last month sold off one…
According to experts, the increasing costs of land, materials, labor, legal procedures, and interest rates, as well as speculation, have all been pushing housing prices up for years. In recent market reports, the Ministry of Construction has confirmed that…
Vingroup, Vietnam’s biggest private conglomerate, made total consolidated net revenues of VND88.191 trillion ($3.56 billion) in the first nine months, posting a year-on-year decline of nearly 5%. Vingroup gained after-tax profits of VND1.571 trillion,…
NYE & RGP Development Co., Ltd., a collaboration between NYE Estate Co., Ltd., and Minor International PCL, inks a strategic deal with Siam Piwat Co., Ltd. for a retail asset management and property management for “Park Silom”, a premium mixed-use project in…
China’s national auditor is making surprise checks in the nation’s $3 trillion trust industry which is also feeling the ripples of the ongoing property crisis. China’s National Audit Office has been inspecting the books of at least 20 trust firms in the last…
Property developer Vinhomes reported a 17-percent decline in profits in the first quarter to VND5.89 trillion (US$256.8 million). Net revenues were down 9 percent to VND14.28 trillion, according to its consolidated financial statement. Around 62.5 percent of…
Real estate companies issued approximately $1 billion worth of bonds, accounting for 62 percent of the total market issuance, in Q1. According to leading brokerage firm SSI Securities Corporation, the total volume of corporate bonds issued in Q1 was VND37.4…
The global property advisor has appointed an industry veteran to oversee its research teams across the region. Knight Frank has appointed Christine Li as head of research, Asia-Pacific, based in Singapore, it said in an announcement on Monday. Li brings over…
Most real estate classes in Hanoi showed recovery signs in Q4 2020, but Covid-19 uncertainties continue to loom over the market this year. The retail category saw total supply in the last quarter increasing 1 percent year-on-year to 1.6 million square meters…
Property giant CapitaLand said it will further waive and potentially defer rent for qualifying small and medium-sized enterprise (SME) tenants, though this will lead to an “adverse impact” on its earnings this year. The move is in accordance with the latest…
The iconic Starhill Gallery, which is part of a portfolio of retail assets owned by Singapore-based Starhill Global Real Estate Investment Trust (SGREIT) will undergo a transformation and revealed as The Starhill – Home of the Tastemakers in 2021. The mall,…
“Unprecedented rental relief measures” are needed from landlords to help retailers overcome the coronavirus crisis, according to the Singapore Retailers Association. In an open letter to landlords, the association has urged landlords to implement a rental…
Chinese real estate developer Dalian Wanda Group will reportedly open 17 shopping centres this month. The group recently opened its 300th plaza in Hubei province, a 105,000sqm shopping centre based in Xianning – the first enclosed mall in the city – including…
In its annual report titled: Top 10 real estate questions for 2020, the team at UBS Asset Management Real Estate & Private Markets looks ahead at the key questions facing the industry for the year ahead. In 2019, much of the financial community, including UBS…
Introducing fresh retail concepts and organizing more shopper-centric initiatives weren’t enough to prevent a 5.7 percent fall in net property income (NPI) for CapitaLand Malaysia Mall Trust (CMMT) in the first half of this year. CapitaLand Malaysia Mall REIT…
