Asian developers turn their backs on once-hot property sector Several years ago, more South Korean and Japanese investors arrived in  Analysts at the time predicted that many construction works in the country would “bear the South Korean stamp”, that is, a certain style. It is the second tallest building in Lotte was one of the Asian investors who could see the great potential of the Vietnamese market. Five years ago, Lotte bought Lotte Center Hanoi project from Korean company Daewoo. Keangnam, another large company in Hyundai and Ypung, the other two big players in the market, are also from In 2012, Tokyu, an investor from Tokyu Binh Duong is expected to have 7,500 apartments and houses, entertainment complexes, shopping malls and offices. Another huge project developed by the Japanese is an industrial zone for enterprises in supporting industries – Hanssip – by The failures While some investors have profited, many others have left after realizing that they had not gained what they expected. Booyoung Vina, an apartment project in Mo Lao urban area in Ha Dong District in Meanwhile, In the south, GSCD, a subsidiary of GS Engineering & Construction Corporation, had to sell its project to a domestic company for $24 million. The $2.57 billion Spendora project has fallen into dilemma as the domestic partner in the joint venture has quit the project. Bright future for Asian investors Though many investors have left Neil MacGregor, a senior executive of Savills D. Anh, |
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