Hanoi calling for capital for 100 real estate projects

Hanoi calling for capital for 100 real estate projects
16:49' 12/04/2007 (GMT+7)
VietNamNet Bridge – The Hanoi Planning and Investment Department is to declare in April the list of 100 real estate projects needing investment.





Ngo Van Quy, Director of the Hanoi Planning and Investment Department, said that the list would be submitted to the Hanoi People’s Committee before it was made public in April. Real estate proves to be the sector which has been attracting the most investment capital in Hanoi.



The list of the projects has been drawn up by the Hanoi Planning and Investment Department, the Department of Natural Resources and the Environment, and the Architect Planning Department.



“Once the list of the real estate projects needing investment is declared, the city’s real estate market will be more bustling,” said Mr Quy.



He also said that city authorities this year would auction 44 ha of land plots in Cau Giay, Long Bien and Tu Liem districts, which is expected to bring VND200bil ($12.5mil) to the local budget.



In the last months of 2006 and the first three months of 2007, Hanoi authorities licenced seven projects on five-star hotels, including two domestic owned projects, one golf course and one entertainment sports complex. Mr Quy said that many Japanese and Korean investors were considering injecting money in real estate projects in Hanoi.



(Source: VNE)