Today: 20 May 2006
  Home | About us | Sitemap | Feedback | Help | Vietnamese

Business and Economic
News
Policy & Strategy
Foreign Investment
Trade
Business
Banking Finance
Development News
Welcome to Vietnam
Education - Training
Governance
International Cooperation
Science, Technology, Environment
Social Development
Development Web sites
EXCHANGE RATE
FORUMS
FAQs
Ha Noi 23 - 32 oC
Hue 22 - 33 oC
Da Nang 22 - 32 oC
Ho Chi Minh 24 - 35 oC
  Banking Finance

BIDV to get involved in real estate projects

The Bank for Investment and Development of Viet Nam (BIDV) plans to offer new banking services for real estate projects in the third quarter this year after receiving approval from several large construction corporations.

Under the new service, landowners and investors developing real estate projects could enlist the help of BIDV in the capacity of financial manager, making the bank a key factor in housing development projects. Investor confidence would be improved while the development of projects would be more effective, it said.

BIDV general director Nguyen Bac Ha said the bank could also provide capital for construction projects, receive authorisation to manage capital, and provide loans for people hoping to buy residences in housing projects. The bank would thus be supporting investors with secure capital sources and helping prospective homebuyers, he said.

Nguyen Quoc Hiep, general director of Contrexim Holdings Corporation, agreed, saying the new measure would ensure project financing is in capable hands while securing mortgages for homebuyers is easier.

To help develop the real estate market, Ha said BIDV has proposed establishing real estate transaction centres to create favourable conditions for real estate transactions.

BIDV previously said it would provide VND1-1.5 trillion (US$62.9-94 million) in loans for housing projects in the next year.

Vietnamnews - (21/04/2006)


More
Special website for Vietnamese farmer

Home  |   About us  |   Sitemap  |   Feedback  |   Help

Hits: 2796773 © Copyright 2003 Vietnam Development Gateway, All right Reserved, Legal & Privacy Notices.
E-mail: vncgteam@vnn.vn  —   Tel: 84-4-8532313