Vietnam’s real estate market will warm up by the end of this year, according to Ko Chee Wah, general director of Cityneon Holdings, an international provider of construction and design services.
In an interview with the local newspaper Dien Dan Doanh Nghiep (Business Forum), Ko Chee Wah said that in long term, Vietnam’s economy is still under good growth period and this is the basis for all investment activities in the next years.
He said that the current gloomy situation of Vietnam’s real estate market is due to banks were unable to lend to both businesses and real estate purchasers. He believes that the government will let this situation prolong and the real estate market will quickly flourish again. The flourish and warming up time of Vietnam’s real estate may be in the end of 2012.
If being an investor specializing in real estate business and having long term capital, he will choose investment in Vietnam’s real estate market right in this bottom phase. So it is not uncommon when investors from Singapore are interested in Vietnam’s real estate and this will be seen via investment inflows from Singapore into Vietnam in the near future.
With the trust in the growth of business situation and the warming up of the real estate market in a near future, Ko Chee Wah revealed a plan to build a construction material production plant in Vietnam in the coming time.
Not long ago, Ko Chee Wah and his colleagues have inaugurated CityNeon office in HCM City.