C.T Group confirmed on 16 August purchasing Thien Loc Investment Ltd, (359 Pham Van Chieu, Go Vap District, HCM City) in order to become the new investor of the project on this 5,900 square metre land plot.

Earlier in late quarter I, this firm also obtained a 95pct stake in GS Cu Chi Development Ltd, at USD 25 million and become the new investor of the C.T Sphinx Golf Club & Residence project.

Likewise, Vina Properties Development Group purchased in early August the hotel and golf course complex Novotel Phan Thiet Ocean Dunes and Golf Resort in Binh Thuan province.

In addition, foreign real estate firms now appear to be keen on joining hands with local ones. The Singaporean firm Keppel Land has recently worked with the Hung Phu Company to on the 9.8 hectare housing project along the Rach Chiec River (District 9, HCM City).

Given the present market recession, mergers and acquisitions would certainly occur, which may somehow improve businesses’ health. M&A real estate deals could take more time than those in other businesses due to complicated legal procedures and price assessment. Successful affairs are expected to benefit investors and home buyers both. Property prices, as such, would have good grounds for reasonable adjustments and products could be better positioned to be in line with appropriate segments and the actual demand. Whether transaction will improve then would largely count on the macro economy.

Many experts assumed the trend could be vital yet inadequate to bring the property market back to life as the most effective remedy would be market stable growth. Capital injection may foster some recovery yet hardly impede market confidence collapse which, if persists, would worsen the liquidity further.