» » Real estate in brief 02/08

Chan May-Lang Co EZ attracts VND 31 trillion

Chan May-Lang Co EZ, originally uploaded by Kiva.Dang.

The Chan May-Lang Co Economic Zone (EZ) has, since its inception attracted 33 projects with a total registered capital of over VND 31 trillion (nearly US$1.9 billion).

According to the Zone Management Board’s report released on July 30, the investment capital includes US$1.4 billion from 10 foreign-invested projects.

The economic zone, established under the Prime Minister’s Decision 04/2006/QD-TTg, covers a site of 27,108 ha nearly 70 km southwest of Hue city.

The Thua Thien-Hue provincial authorities have spent a total of over VND 1.6 trillion on the infrastructure, mainly on transport, electricity, water supplies and telecommunications networks in the economic zone.

The Chan May-Lang Co EZ Management Board has adopted incentives in land lease and customs procedures to lure in more investors, including a 50 percent drop in income tax for high earners working there, including foreigners.

The board expects that the zone will work in unison with the Chu Lai, Dung Quat and Nhon Hoi economic zones to drive the economic growth in the central region.

Source: VOV News

Leading property firm breaks into Vietnam market

Leading Singapore-based property firm, Frasers Hospitality Pte Ltd, has penetrated the Vietnamese housing market, by opening its first property in the country, the Fraser Suites Hanoi.

The 170-unit Fraser Suites Hanoi is located in the Westlake district. Views from the top floors of the 25-story building span across the entire city, including the lake and the Red River.

With the opening today of Fraser Suites Hanoi, the company has expanded its global footprint across Europe, North Asia, Southeast Asia, the Middle East and Australia. Frasers Hospitality Pte Ltd has more than 4,800 individual apartment buildings.

Source: Thanhnien News

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