Despite of the difficult real estate market, two towers of Thao Dien Pearl along to Saigon Bridge , Dist. 2, HCMC keep going on launching.

The other side of bridge, previous Van Thanh market area, B1 basement of SSG Tower is completed after three months ground breaking; all those projects are invested by SSG Group.

These pictures are belonged the project not far from 2km – Green Building project owned No.8 construction investment company has completed on raw item during 1 year past, but in fact it is stopped building.

Mr Nguyen Van Duc , Deputy of Dat Lanh Real Estate Company, said that real estate market seems likely stormy sea and most boat need to find shelter . However, other boat continuously push off, in fact, SSG Group is involving to these.

Whatever storm will be

6 months ago, the other big Vietnam’s real estate corps , Bitexco, 55 floors The One ground breaking, 500 million dollars capital investment , 2 block with 55 floors and 48 floors height that toward Ben Thanh market, compliment on 2015.

Keppel Land, Singapore’s real estate enterprise, is said that finding a new chance to network in Vietnam. At Dist. 2, HCMC, The Complex Residence area Nam Rach Chiec is being invested recently, with the scale of 6000. And this project will offered in expected on phase 1 in 2013.

The stage 3 of Saigon Centre project is being constructed by this enterprise in Le Loi Street, Dist.1, HCMC. As compliment, 45 floor building will offer 50.000 m2 of trade area, 40.000 m2 class a office and 200 apartment units.

Not only investing on an complex, high class apartment project – the most difficult segment of its recent market – still those who unstopped “the game” , The investment real estate group Nova (Novaland) .Some rumor means that Novaland is problem and unable to accomplish Sunrise city project. However, all 6 blocks following Phase 1 are completed on schedule and also handed over on July 16th, 2012. Continuously, The Central Towers (Phase 3) of Sunrise City is being processed, completed basement and offering apartments soon

Not far from Sunrise City project, Thanh Binh project owned Hoang Anh Gia Lai, holding an offer day in October. This project is completed a foundation and being constructed two basements. In expectation, it will hand over in 1 QR/2015.

The Sunrise City owned Novaland is being processed in Phase 2

The risker’s meaning

In spite of a difficult market recently, project development seems to high risk. However, these investors above give more reasons.

When asking the reason why celebrated ground breaking in unactive market, Vu Quang Hoi, Chairman of Bitexco, just told another story about Bitexco 10 years ago.

In 2001, Vietnam’s market was fallen out of 1997’s East Asia financial storm. The unique crane of official building Bitexco Tower, Nguyen Hue St, which is active. This is a project belongs to Singapore’s enterprise which is bought back by us.

Following to Mr Hoi, Acquisition is so risk thing in that time but it is considered to other projects, such as: The Manor, Bitexco Financial Tower. “I do believe that when The One is completed, economy and market will recovery and be more thrive.

An long term vision is not only Mr Hoi’s belongs but also Mr Linson Lim, Keppel Land Vietnam, suggest that Our strong belief have a growth potential in long term in Vietnam’s real estate market, therefore housing demand will increase, active and young population, accelerated middle classed residence .

Otherwise, in present purchasing power is so weak, finding the product supply is hard question. As this problem, Mrs Vo Thuy Anh, Deputy of General Director Novaland, mention that removing high class apartment segment in investors’ business could lead to rare these products in future. Actually, there have chance for its investors.

In reality, according to Savills Vietnam, class A apartment supply is just 8% of market, class B is 14% market, a rest class C is 78%. Moreover, from 2009 to nowadays, almost investors afraid of deploying new high class project, so that the class A&B apartment supplier will be dramatically decrease in period 2013-2016.

According to Mrs Anh ,it is considered such a difficult market in recent and there are amount of misprocessed projects, she said, compared with Pho Dong’s market in Thuong Hai, China , in 1997.Correlating the effect that a crisis will create “ space” in market ‘ cause a project spend 3-5 years to finish or even more. That’s the good opportunity for potential investors.

The key point is that those enterprises have enough money to invest their business or whether they are so patient on that day or not.” “Fiscal guarantee is suggested for following each project. During a time passed, Phase 1 of Sunrise city are processed on schedule despite of problem in market, In present, we sold whole trade area and about 500 units of Phase 1, Phase 2 is being sold, money source is flowing and be used for phase 2”, she told.

If that true, Novaland’s story likely to be advantages. However, the number of million vnd of loan management is not so easy in recent market. A deputy of general director company, investment dept., (anonymous), said that not less the large projected investors need to loan with high interests in order to deploying their projects. When recovered, they will offer and lease their products, or cooperate with partners.

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