Dubai Property Developers have Golden Opportunities in Vietnam
Good opportunities are in store for Dubai property developers. Representatives from some of the best property developers in Dubai are heading for Vietnam as part of the UAE delegation to the country. They will be exploring the Vietnam property market for future projects. In comparison to other GCC countries, Dubai’s share in Vietnamese property investment sector has been quite limited so far. Leading property analysts opine that Vietnam’s fast developing property sector has the potential to offer exciting investment opportunities. In this wake, the Dubai World invested 200 million US dollars on a Ho Chi Minh City container port recently.
It is estimated that by the end of the year, the foreign participation in the property investments offered by the country will exceed 13 billion US dollars. The tourism industry in Vietnam being quite strong, the country is an imminent choice for Dubai investors to endow their money in international resorts and hotels available in the Vietnam property market. To accommodate the ever increasing number of business travellers and tourists, the country is in need of approximately 10,000 rooms of all grades in the next five years. Moreover, the freehold property market may soon open its wings to foreign investors.
At present, there is under-supply of residential property units in Ho Chi Minh City as well as in the capital of Vietnam – Hanoi. In this scenario, Vietnam could be a good bet for Nakheel International – the recently formed venture in Dubai aimed at pursuing property developments outside the emirate. Vietnam has been added to the tentative business interest list of the developers, which already includes countries like China, Singapore and Thailand.
Dubai Chamber of Commerce and Industry is all set for the UAE-Vietnam business forum in Hanoi on September 4, 2007. As part of the UAE delegation, the forum aims at strengthening economic ties between Dubai and Vietnam. No doubt, the property investment sector plays a crucial role herein.
It is estimated that by the end of the year, the foreign participation in the property investments offered by the country will exceed 13 billion US dollars. The tourism industry in Vietnam being quite strong, the country is an imminent choice for Dubai investors to endow their money in international resorts and hotels available in the Vietnam property market. To accommodate the ever increasing number of business travellers and tourists, the country is in need of approximately 10,000 rooms of all grades in the next five years. Moreover, the freehold property market may soon open its wings to foreign investors.
At present, there is under-supply of residential property units in Ho Chi Minh City as well as in the capital of Vietnam – Hanoi. In this scenario, Vietnam could be a good bet for Nakheel International – the recently formed venture in Dubai aimed at pursuing property developments outside the emirate. Vietnam has been added to the tentative business interest list of the developers, which already includes countries like China, Singapore and Thailand.
Dubai Chamber of Commerce and Industry is all set for the UAE-Vietnam business forum in Hanoi on September 4, 2007. As part of the UAE delegation, the forum aims at strengthening economic ties between Dubai and Vietnam. No doubt, the property investment sector plays a crucial role herein.
posted by Property Reporter at
10:39 PM
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