Experts forecast property projects in Vietnam will continue to attract foreign investors.
The outlook for the Vietnam real estate market is very promising for overseas investors as the government announces a relaxation in ownership policy.
The Department of Tourism has estimated around 2 million foreign visitors will come to the capital city by 2010. Currently in Vietnam, there is a distinct lack of quality accommodation which has now created the impetus for investor involvement. The Department of Tourism has expressed a vested interest in creating a luxury, high-end market, fuelled by a vast rise in international business and tourism visitors.
Real estate FDI has increased significantly over the last two years and is expected to reach US$9 billion by 2010. So far investments have been coming in very strong from neighbouring countries but the market is still relatively untouched by the emerging market investor. Many of the developers have made investments within the first half of the year, one of which is Japanese firm who have ploughed US$500 million into a luxury 5 star hotel.
The country has only 14 golf courses catering for 5,000 resident golfers but with the increased number of foreign tourists coming to play in Vietnam, the appeal for this type of investment project grows on a daily basis. Developers are also constructing office buildings, beach resorts and hotels in the countries main cities, at a bustling rate according to the FIA.
The licensing of a deluxe resort project at Lang Co Beach in the central province of Thua Thien-Hue has also contributed greatly to the success of the real estate sector. The US$276-mil resort invested by Singapore's Banyan Tree Group is the biggest tourism project in the province and will certainly lead the way in the types of developments within the resort market.
The Department of Tourism has estimated around 2 million foreign visitors will come to the capital city by 2010. Currently in Vietnam, there is a distinct lack of quality accommodation which has now created the impetus for investor involvement. The Department of Tourism has expressed a vested interest in creating a luxury, high-end market, fuelled by a vast rise in international business and tourism visitors.
Real estate FDI has increased significantly over the last two years and is expected to reach US$9 billion by 2010. So far investments have been coming in very strong from neighbouring countries but the market is still relatively untouched by the emerging market investor. Many of the developers have made investments within the first half of the year, one of which is Japanese firm who have ploughed US$500 million into a luxury 5 star hotel.
The country has only 14 golf courses catering for 5,000 resident golfers but with the increased number of foreign tourists coming to play in Vietnam, the appeal for this type of investment project grows on a daily basis. Developers are also constructing office buildings, beach resorts and hotels in the countries main cities, at a bustling rate according to the FIA.
The licensing of a deluxe resort project at Lang Co Beach in the central province of Thua Thien-Hue has also contributed greatly to the success of the real estate sector. The US$276-mil resort invested by Singapore's Banyan Tree Group is the biggest tourism project in the province and will certainly lead the way in the types of developments within the resort market.
posted by Obelisk International at 10:55 am
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