| Hội Quy hoạch Phát triển Đô thị Việt Nam

Feb 22nd
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home English

Berjaya committed despite question marks

Berjaya committed despite question marks

Berjaya Vietnam’s multi-billion dollar property projects are facing dark times.

The company, a subsidiary of Malaysia’s Berjaya Land Berhad, is getting cold feet about constructing its $930 million Vietnam Financial Centre (VFC) in Ho Chi Minh City which should have got off the ground in May, 2012.

Phuong Anh Phat, Berjaya Vietnam senior business development manager, said the company would continue to invest this project and delay was caused by the company waiting for the city’s permission to use part of the project’s basement for retail space.

“In our design, VFC is as a multi-function complex comprising five high-rise buildings ranging from 44 to 48 stories linked together by a six-storey podium. Its basements will not be used as a parking lot, but also a retail area. The design is very popular in multi-function complexes in developed countries. In Vietnam, Vincom Centre also applied the design. But Ho Chi Minh City request us to use all of floor areas in basements for parking,” said Phat. “We petitioned the city to accept our design and hope that the city would soon issue its permission,” added Phat.

Licenced in February 2008, the 8.1 hectare VFC, bounded by Cao Thang, February 3 and Le Hong Phong streets in the city’s District 10, has faced losing its licence a number of times. Berjaya Vietnam’s another long-delay large-scale property projects in Vietnam is the $3.5 billion Vietnam International University Township (VIUT) in Ho Chi Minh City’s Hooc Mon district.

With total area of 925ha, VIUT is the largest urban area project licenced in Vietnam in 2008. The developer ever said that it would kick-off in 2009, but currently still has empty land. Berjaya Vietnam is also planning to adjust the construction progress of the $2 billion residential area in southern Dong Nai province as Nhon Trach district’s poor infrastructure was presenting environmental challenges.

With the current gloomy picture covering the nation’s property market, the firm’s $500 million Hanoi City Garden in Hanoi is also facing difficulties.

Berjaya Vietnam is developer of nine large-scale realty projects across Vietnam, including Berjaya Long Beach Resort on Phu Quoc island./.

Thanh Thuy


Few keys to unlock city condo sales

Few keys to unlock city condo salesDespite positive economic signs and cooling inflation, Ho Chi Minh City’s apartment sales remain stagnant. According to Knight Frank Vietnam, a la...

New City takes Binh Duong forward

New City takes Binh Duong forwardThu Dau Mot City has officially  been founded in Binh Duong province since June 27, 2012 following the governmental Resolution 11/2012/NQ-CP. A...

Southern property market thaws

Southern property market thawsApartment projects in Ho Chi Minh City are back in business with a series of projects coming onto the market thanks to banks’ easing credit. “Fal...

Lower interest rates boost real estate market

Lower interest rates boost real estate marketSince the State Bank of Vietnam started to lower the interest rate early this year, many banks have also lowered their lending rates, fueling the real...

Property firms still face difficulties

Property firms still face difficultiesReal estate firms are still facing significant obstacles in accessing loans despite recent government efforts to ease conditions and improve the busin...

Property sector coming back to life

Property sector coming back to lifeLower lending rates and a loosened valve for property credit are thawing out property projects. The second phase of 264 hectare state-of-the art urb...

Property looks for vital signs of life

Property looks for vital signs of lifeThe under pressure property market is still attempting to dig itself out of a hole. Pacific Property and Infrastructure Development Joint Stock Comp...

Road allows growth to travel to Thai Nguyen

Road allows growth to travel to Thai NguyenPrivate domestic SVA Financial Group last weekend broke ground on the Dan-Nui Coc Lake road to offer a lifeline to northern Thai Nguyen province. The...

High-tech green building to open doors

High-tech green building to open doorsHo Chi Minh City’s first LEED certified-green office building will officially open to tenants in August. The date was revealed by David Clarkin, g...

Global feel for local developments

Global feel for local developmentsScores of foreign architecture firms are flooding Vietnam to tap into potentially giant real estate projects and open-minded developers. Famous comp...
Trang 9 trong tổng số 25
Bảng quảng cáo

Tìm kiếm

Hiện có 1295 khách Trực tuyến

Quảng cáo