The Lunar New Year holiday has just ended, and familiar real estate companies in the South such as Nam Long, V...
The Lunar New Year holiday has just ended, and familiar real estate companies in the South such as Nam Long, Vingroup, Phu Dong Group, Bcons, Gamuda Land... have immediately announced new plans and projects.
In 2024, Nam Long Corporation continues its plan to launch sales for projects such as Flora Panorama apartments in Mizuki Park, Akari City, Southgate at the entrance of the Waterpoint urban area, the Can Tho project, and Izumi City. Especially, Nam Long will focus on bringing housing products priced from 1-3 billion VND to the market. With this scarce real estate product, Nam Long's sales are expected to strongly recover, estimated to reach 5.6 trillion VND, a 40% increase compared to 2023.
Phu Dong Real Estate Joint Stock Company (Phu Dong Group) also kicks off the year by planning to hand over the Phu Dong Sky Garden apartment project in the first quarter of 2024. From the third quarter of 2024, the company will continue to introduce nearly 800 Phu Dong SkyOne apartments (in Di An, Binh Duong) to the market. Just before the Lunar New Year of the Year of the Dragon, Phu Dong signed a cooperation agreement with MB Bank. Accordingly, the bank will provide a credit limit of 500 billion VND to support the implementation of the Phu Dong SkyOne project.
In 2023, Sai Gon Thuong Tin Real Estate Joint Stock Company - TTC Land had few notable activities. But at the beginning of 2024, TTC Land released a series of information about projects such as events related to the TTC Plaza Da Nang project, and information about selling high-end limited apartments at the Panomax River Villa project (Dao Tri Street, District 7, Ho Chi Minh City). This project is scheduled to hand over houses in the second quarter of 2025.
Gamuda Land Group is exerting efforts to launch the Eaton Park project (Thu Duc City) in the second quarter of 2024. The project covers an area of 3.5 hectares and is expected to be sold at nearly 170 million VND/m2.
Masterise Homes also plans to start construction of a high-rise sub-area in The Global City urban area (Thu Duc City). According to the plan, this high-rise area will begin accepting pre-orders in the first quarter of 2024, and sales are expected to commence in the fourth quarter of 2024.
At the beginning of the new year, Dai Quang Minh Real Estate Investment Joint Stock Company has also announced its ambitious plans for 2024. Accordingly, the company will commence construction on 12 projects (2 projects in the North, 10 projects in the South) to meet the development plan of THISO Commercial Center chain system for the period of 2024 - 2027.
In the first quarter of 2024, besides the FIATO City project in Nhon Trach (Dong Nai), Thang Long Real Group is initiating the FIATO Premier project in Thu Duc City (Ho Chi Minh City). This apartment project is located next to the Ho Chi Minh City Belt Road 2.
Information from Van Phuc Group indicates that the company is planning to introduce its first high-end apartment product at the Van Phuc City urban area at the beginning of 2024. This project was originally scheduled to enter the market in 2023 but missed the plan.
Even companies undergoing restructuring like Novaland are not stopping their proposal of new projects. A large-scale resort complex covering nearly 437 hectares in Mui Yen area, Binh Thuan province, has been proposed by this company. In addition, Novaland is working with the People's Committee of Lam Dong province on a complex urban area project for tourism, entertainment, and recreation in Lam Vien Highlands.
Many real estate projects in 2024 have been introduced by companies.
Real estate developers are starting activities early after Tet holiday, expecting to add new supply to the real estate market in the South. Recently, many investors and buyers have been eagerly anticipating new products entering the market.
On February 19, the State President's Office held a press conference to announce the issuance of the Land Law approved by the National Assembly at its 5th extraordinary session. Accordingly, the new Land Law consists of 16 chapters, 260 articles, amending and supplementing 180/212 articles of the 2013 Land Law, and adding 78 new articles.
In the new Land Law, the Government's regulations on land price framework have been removed. Land price lists will be compiled annually. From January 1, 2026, the first land price list will be published and applied, and then adjusted, amended, and supplemented from January 1 of the following year.
Previously, in a series of directives to address difficulties in the real estate market, the Prime Minister assigned the Ministry of Construction to study guidelines for real estate companies to reduce selling prices and restructure market segments. In practice, alongside support from policies, many real estate companies have restructured their products and prices to align with the majority of market demand. This can be clearly seen in the increased transactions at some apartment projects in the Southern market.
Via Realtimes