Two huge credit packages are good news for struggling real estate sector
HCMC – Struggling with difficult access to bank loans, the real estate sector has got good news that two major credit packages totaling VND230 trillion would be launched after Prime Minister Pham Minh Chinh met with real estate businesses on Friday. At a hybrid conference on solutions to pull the
PM says Govt will not bail out real estate sector
HCMC – Prime Minister Pham Minh Chinh has said the Government will not bail out the struggling real estate sector. Speaking a hybrid conference on policies and solutions for the frozen real estate sector yesterday, February 17, Chinh said there would be no bailout but government agencies, local
Real estate sector still struggles
HCMC – The ongoing credit crunch and the Government’s restrictions on corporate bond sales have put an additional strain on the debt-ridden real estate sector. Savills Vietnam’s survey pointed out that homebuyers must apply for a mortgage worth around 50% to 80% of the total value of a mid-end
Novaland suggests debt extension for property firms
HCMC – Major property developer Novaland has asked the central bank to enable debt restructuring and extension from 24 to 36 months for property firms. The proposal was made by Do Thi Phuong Nam, director for corporate restructuring at Novaland, during a meeting between the State Bank, lender
PM wants lending eased for real estate sector
HCMC – Prime Minister Pham Minh Chinh has called for commercial banks to make credit accessible to property firms and homebuyers and cut costs to lower interest rates. Apart from real estate, they should also ensure meeting the loan demand of priority sectors such as manufacturing, he said, citing
HoREA asks SBV to help struggling real estate sector
HCMC – The HCMC Real Estate Association (HoREA) has asked the State Bank of Vietnam (SBV) to allow credit restructuring to help real estate firms out of the financial crunch. The association wrote to the SBV, the central bank of the nation, just ahead of a meeting today, February 8, between the