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Monday,  May 21,2018,06:33 (GMT+7)

Foreign investors pour US$77.6 million into property sector in Jan

The Saigon Times Daily
Monday,  Feb 5,2018,18:36 (GMT+7)
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Foreign investors pour US$77.6 million into property sector in Jan

The Saigon Times Daily

HCMC – Foreign investors pledged around US$77.6 million into the real estate sector, accounting for 6.2% of the newly registered foreign investments in January, the Vietnam News Agency reports.

Data of the Foreign Investment Agency under the Ministry of Planning and Investment indicates the real estate sector was ranked third among 19 sectors in which foreign investors were involved last month.

Su Ngoc Khuong, associate director of investment at Savills Vietnam, said the involvement of foreign investors will bring about an extra source of growth for the property sector. He stressed their presence will also provide the local real estate market with professional expertise and development experience.

He added the local market will become diverse in terms of involved stakeholders, and will get sustainable.
The participation of foreign investors is expected to enhance the competitiveness of both property distribution and development, bringing more benefits to users and homebuyers.

He also noted that foreign involvement in the property sector mirrors the increasing cooperation between local property companies and their foreign counterparts, which will reduce their dependence on bank loans.

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