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Submitted by honghanh on Sat, 08/16/2008 - 15:05

The real estate market attracted US$21.4 billion of foreign direct investment (FDI) in the first seven months of the year, representing 48 percent of the total newly-registered capital, according to the Ministry of Planning and Investment (MPI).

Of the total, investors poured US$13 billion into building luxury urban areas and buildings for office lease, nearly US$8.3 billion into tourism and hotels, and the rest for infrastructure in export processing and industrial zones.

Remarkable projects included the US$4.2 billion resort in southern coastal Ba Ria-Vung Tau province by the Canadian Asian Coast Development Ltd, the US$3.4 billion university township in Ho Chi Minh City by the Malaysian Berjaya Leisure group and the US$1.65 billion resort, golf course and apartment complex in southern Kien Giang province by the Starbay Holding Ltd. (B.V. Island).

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