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Saturday, June 22, 2024

New players dive in, insiders retreat

By Kim Ngan

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While thousands of real estate businesses are exiting the market, a select few are boldly entering the sector. However, navigating this challenging landscape requires careful decision-making and strategic execution to overcome obstacles and succeed amidst uncertainties. Industry outsiders eye real estate Despite facing legal obstacles and tightened access to funds, Vietnam’s real estate market retains its allure as a significant driver of GDP growth, alongside the banking sector, and a key player in stock market development. Moreover, it has been a pathway for many Vietnamese individuals to achieve wealth. This enduring appeal has prompted industry outsiders to enter the real estate sector, undeterred by current challenges. One notable example is Hoa Sen Group, a leading steel producer, which recently ventured into real estate with the establishment of Hoa Sen Sai Gon JSC. Hoa Sen Group’s foray into real estate involves targeting properties valued between VND1 trillion and VND3 trillion for development into office buildings, commercial centers, and residential areas. The company plans to retain some office space for its own use while leasing out or potentially selling the remainder based on market conditions. This strategic move is slated to launch early this year. Tracking Hoa Sen Group’s journey in the […]
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