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10 memorable events of HCM City real estate market



With the economy been hit hard by Covid-19, the HCM City real estate sector has been facing difficulties. However, there are still bright spots.

Offices, retail premises

10 memorable events of HCM City real estate market

In principle, all construction works will be monitored and examined from the day they kick off to the day they are put into operation.

Offices for lease and retail premises are the market segments which first suffered from the pandemic. As enterprises and individuals had to scale down their business, they gave back retail premises to landlords.

As a result, landlords had to lower the rents to attract more tenants. Some of them even exempted rents during lockdown to retain clients.

A market survey firm reported that the office rent dropped by 5-10 percent compared with the time before the pandemic, while retail premises fell by 30-50 percent.

61 slow projects cancelled

In December 2020, the HCM City People’s Council approved the cancellation of the plan to take back land of 61 projects.

The land was planned to be recovered in 2015-2017. However, to date, investors have not implemented the approved plan on using the land.

These include commercial housing projects, such as The Queen Square in Binh Thanh district registered by The Queen Square Co Ltd; Long Phuoc Garden in district 9 of Thanh Nien Media Group; and Sanctuary Cove villas in district 9 of Beelwynn – Hung Phu joint venture.

Apartment dwellers sue developers

Disputes between apartment dwellers and developers are not a new issue. However, the disputes escalated in 2020. Apartment buyers asked developers to complete legal procedures so they could obtain pink books (the “Certificate of Land Use Right and Ownership of House and Other Assets on the Land”).

The dispute between apartment buyers and developers became so serious at The EverRich Infinity apartment project developed by Phat Dat Real Estate Development JSC in district 5 that the case was brought to court.

The dispute between apartment buyers and developers became so serious at The EverRich Infinity apartment project developed by Phat Dat Real Estate Development JSC in district 5 that the case was brought to court. A dweller sued the company because the company sold parking lots at the apartment building.

Classifying apartments to grant pink books

The HCM City People’s Committee has instructed local departments to classify land into two groups.

The first one comprises separate apartments with some closed work items. All the project land area is defined as housing land.

The second one comprises large-scale apartment projects with many items for public service. In addition to the land for apartments, there are other utility works. The land area for apartments is determined according to the land use structure of the approved projects.

The instruction is expected to help settle the problems in granting pink books which have existed for many years.

Problems in splitting land plots

After three years of implementing the regulation on the minimum area of the land plots to be split, some problems have arisen.

The HCM City People’s Committee has instructed the local Department of Planning and Architecture to guide districts’ localities to review the implementation of the urban development plan. If the plan is no longer feasible, it is necessary to amend the plan to give legal benefits to people.

GIS, remote sensing technology used in land management

In August 2020, the HCM City People’s Committee approved a plan on utilizing GIS (geographic information system) and remote sensing technology to serve land management, urban planning and construction.

The system connects and synchronizes data, and provides timely information to serve land use inspection, supervision and instruction. With the system, information about land, urban development planning and construction plans will be open to the public.

Violations of construction regulations decrease

As of the end of August 2020, 504 construction works had been found violating regulations on construction, or 1.9 violation cases a day, a sharp decrease of 77 percent compared with the same period last year (8.5 cases a day).

In principle, all construction works will be monitored and examined from the day they kick off to the day they are put into operation.

New price levels for houses

In 2019-2020, the HCM City real estate market faced a sharp fall in supply because of problems related to legal procedures, decreased land fund, Covid-19, and the supply/demand imbalance.

A market analysis firm reported that the selling price of apartments in HCM City is at VND45 million per square meter.

Few low-cost housing projects

Of 15,000 houses belonging to 26 projects that meet requirements to mobilize capital in HCM City, 5,339 high-end apartments have selling prices of over VND40 million per square meter and 9,585 mid-end apartments VND20-40 million per square meter.

There are few low-cost housing products priced at below VND20 million (163 products), while the figure was 12,355 in the same period last year.

Bogus projects

In 2019, Alibaba, which specialized in selling ‘bogus’ property projects, was discovered and eliminated. In 2020, many companies like this were under investigation.

These companies don’t have licenses to develop projects, but they fabricate maps of projects and sell projects that don’t exist.

Ho Van



Pork price not expected to spike during Lunar New Year



A consumer buys meat at a Hapro supermarket in Hà Nội. — VNA/ Photo Phương Anh

HÀ NỘI —Demand for pork rises in the run up to Lunar New Year (Tết), prices are expected to increase, but not rise to the levels seen last year.

The Ministry of Agriculture and Rural Development said out of 5.37 million tonnes of meat consumed during this period last year, 3.8 million tonnes were pork.

Pig production remains healthy, and across 16 provinces the reproduction rate has topped 100 per cent, with more than 27 million animals available.

However, Nguyễn Văn Trọng, deputy director of the Livestock Breeding General Department under the Ministry of Agriculture and Rural Development, said prices would rise as demand grows.

Currently, live pigs are priced at VNĐ83,000-85,000 (US$3.5) per kilo but Trọng said although prices would rise, they would not reach levels seen last year.

He also said there would not be any expected shortages of the meat, but they were stepping up measures to preventing illegal exports to China. 

According to the Department of Animal Health, Ministry of Agriculture and Rural Development, the country imported nearly 226,000 tonnes of pork last year, a year-on-year increase of 260 per cent.

The main import markets are from Russia, Poland, Brazil, Canada, the US, Germany and Spain.

This year, 600 tonnes of pork have been imported to supplement supplies for the Tết market.

More than half a million pigs were imported from Thailand for slaughter from mid-June last year to January 13 this year. —


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HCM City, southern provinces step up efforts against fake goods, contraband as Tết approaches



Smuggling and trade fraud are on the rise ahead of Tết, which falls on February 12. —VNA/ Photo.

HCM CITY – Officers tasked with preventing fake goods, trade fraud and smuggling in HCM City and southern border provinces have been forced to work hard ahead of Tết (Lunar New Year), which falls on February 12 this year.

Last week the HCM City customs department discovered 14 steel containers that consignee V.V Steel Company described wrongly to evade tax.

The company, in Long An Province’s Đức Hòa District, made a declaration that would have allowed it to enjoy 0 per cent tax instead of the 10-15 per cent it had to pay, equivalent to VNĐ1 billion (US$43,000).

Now, besides the tax it will also have to pay a penalty of 20 per cent of the amount.

Smuggling and trade fraud are becoming increasingly sophisticated.

Trương Văn Ba, director of the HCM City Market Surveillance Department, said last year 25,538 violations had been discovered involving loss of tax revenues of VNĐ5.8 trillion.

Competent agencies filed charges in 113  cases.

According to Steering Committee 389 of HCM City, inspections had been reduced due to the Covid-19 pandemic but specifically target warehouses, yards and sites where large volumes of smuggled goods are likely to be concealed, improving the efficiency of prevention efforts.

According to the city police, local militia have been urged to look out for dubious activities and crack down on the trade in prohibited, smuggled and counterfeit goods.

Drugs, weapons, illegal firecrackers, unsafe and violent toys, and cigarettes are in the sights of officials.

The city border guard force, the Southern Border Guard Soldiers’ Department of Drug and Crime Prevention, naval squadron No 28 under the Việt Nam Border Defence Force, and border forces in Bà Rịa – Vũng Tàu and Tiền Giang provinces will look out for possible violations at estuaries, sea ports and sea borders .

The city is also calling on businesses and consumers to join hands in the fight against smuggling and trade fraud.

Cross-border smuggling

Border authorities in the Cửu Long (Mekong) Delta provinces of An Giang, Kiên Giang and Đồng Tháp are stepping up efforts to keep out smuggled goods, which usually increases during the year-end period.

The contraband is mostly cigarettes and sugar brought in through the Châu Đốc City border in An Giang Province.

Smugglers transport the goods from Cambodia in boats, motorbikes and trucks at night to evade officers, but if spotted are not averse to attacking them.

Kiên Giang Province’s Hà Tiên City also sees smuggling of goods from across the border, usually late at night.

Smugglers travel in groups and transport large quantities of contraband, mainly foreign-made cigarettes.

Authorities have discovered hundreds of cases of smuggling and confiscated tens of thousands of packs of cigarettes and other goods.

Fishing boats are used to illegally transport and sell oil and petrol at sea.

Hundreds of thousands of litres of oil of unknown origin have been seized by local agencies, who have also collected billions of đồng in fines.

The An Giang Province steering committee for anti-smuggling, trade fraud and fake goods said troops were patrolling border gates, trails and crossings to prevent smuggling. –



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Ensuring information security for cloud computing a key national goal



Cloud computing will be the main orientation of the country to focus on in the coming time. — Photo

HÀ NỘI — The Ministry of Information and Communications has determined that the cloud computing platform is a key part of telecommunications infrastructure to focus on in the coming years.

The ministry has also defined cloud computing as the digital infrastructure for the development of a digital government, digital economy and digital society.

“This is one of the main orientations of the country to focus on in the coming time,” said Nguyễn Khắc Lịch, deputy director of the Authority of Information Security, Ministry of Information and Communications, to local technology website

It is forecast that the cloud computing market in Việt Nam will reach US$500 million by 2025 with a growth rate of about 30-40 per cent.

The COVID-19 pandemic has created a “push” to promote the development of the cloud computing market and the growth rate of the market hit 40 per cent last year.

Cloud computing is a relatively large “pie” for businesses to compete for and as for the nation, with the importance of new generation telecommunications infrastructure, digital infrastructure, and the ‘Make-in-Việt Nam’ policy, domestic businesses must master this infrastructure.

Lịch said that to develop Vietnamese cloud computing platforms in the right direction, Việt Nam was one of the few countries that have issued a set of technical criteria to evaluate and choose a cloud computing solution for e-government.

The set of technical criteria consists of 153 standards, including 84 technical criteria and 69 information security criteria.

“A cloud computing platform that meets these benchmarks is considered to be a modern and secure platform,” said Lịch.

Lê Hoài Nam, deputy director of Viettel IDC, said with cloud computing services, the market has grown quite rapidly in recent years.

As for Viettel, the growth rate was twice compared to normal from 60 to 80 per cent.

However, Nam said that the story of information security for cloud computing was not only important for Việt Nam but also the world.

This field in Việt Nam was still new, so people were still worried.

However, in addition to financial investment, there was a need for a system of technical staff because the technology was changing and all certificates required by customers are constantly updated. With large service providers such as VNPT and Viettel, the sustainability of service delivery infrastructure will be ensured, he added.

Tống Mạnh Cường, product manager of VNPT IT, said there were two issues, which were whether users paid to use safe services or not and the trust factor.

Enterprises believe that to stimulate demand for cloud computing services, the Government should have activities to promote digital transformation.

The Government, ministries and agencies besides enterprises, should boost non-business public units like the departments of information and communications to deploy public cloud technology.


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