{"id":10791,"date":"2021-01-28T11:36:40","date_gmt":"2021-01-28T04:36:40","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10791"},"modified":"2021-06-04T15:58:02","modified_gmt":"2021-06-04T08:58:02","slug":"ho-chi-minhs-construction-materials-market-expected-to-recover-with-property-market","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/ho-chi-minhs-construction-materials-market-expected-to-recover-with-property-market\/","title":{"rendered":"Ho Chi Minh\u2019s construction materials market expected to recover with property market"},"content":{"rendered":"

The construction materials market\u00a0<\/span>will benefit\u00a0<\/span>from the <\/span>removal of the property market\u2019s bottlenecks <\/span>and public construction\u00a0<\/span>projects<\/span>\u00a0<\/span><\/p>\n

\"\"
Skyscrapers under construction in Ho Chi Minh City, Vietnam. AJNguyen\/Shutterstock<\/figcaption><\/figure>\n

As\u00a0<\/span>Ho Chi Minh city\u2019s\u00a0<\/span>construction materials market annual peak season leads off in the first quarter, it is expected to further recover from the removal of legal bottlenecks from the housing market, including the\u00a0<\/span>control of the COVID-19 pandemic, reported\u00a0<\/span>Viet Nam News<\/span><\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

L\u00ea Ho\u00e0ng Ch\u00e2u, chairman of the HCM City Real Estate Association,<\/span> mentioned that it would recuperate in the first quarter, as Vietnam has effectively contained the pandemic, <\/span>increas<\/span>ing\u00a0<\/span>business confidence.<\/span>\u00a0<\/span><\/p>\n

The EU-Vietnam Free Trade Agreement (EVFTA) and growing domestic consumption would also push the retail industry<\/span>, particularly foreign retailers from the EU that would increase office space demand, he added.\u00a0<\/span>\u00a0<\/span><\/p>\n

Head of market research at Savills Vietnam V\u00f5 Th\u1ecb Kh\u00e1nh Trang<\/span>\u00a0said high-end condos in the city remained sought-after despite the pandemic, and prices shouldn\u2019t fall any time soon. <\/span>\u00a0<\/span><\/p>\n

A<\/span>round 20 housing projects will\u00a0<\/span>also\u00a0<\/span>be developed in Ho Chi Minh City in the first half of 2021<\/span>.<\/span>\u00a0<\/span><\/p>\n

The construction market\u2019s dynamic is<\/span>\u00a0closely<\/span>\u00a0linked with the property market.\u00a0<\/span>The sector also expects to benefit from the public investment projects to be launched\u00a0<\/span>soon<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Ph\u1ea1m V\u0103n B\u1eafc, director of the Ministry of Construction\u2019s Department of building materials, mentioned that another factor to the sharp rise of the construction materials market is due to <\/span>infrastructure impairment from the floods and landslides in the central region.\u00a0<\/span>\u00a0<\/span><\/p>\n

Increased construction investment from major infrastructure projects like the North-South Expressway would greatly benefit the industry, said\u00a0<\/span>VNDirect<\/span>\u00a0Securities Company.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: <\/strong>Ho Chi Minh City reserves districts along metro lines for high-rise apartments<\/strong><\/a><\/p>\n

It is forecasted that the market would be valued at VND23.7 trillion (USD1 billion)\u00a0<\/span>this year.\u00a0<\/span>\u00a0<\/span><\/p>\n

China\u2019s proposals to invest in Vietnam\u2019s infrastructure would cause demand for steel and cement to skyrocket, pre<\/span>dicting that the trend would carry on until mid-year at minimum.\u00a0<\/span>\u00a0<\/span><\/p>\n

In the first nine months of 2020, the steel industry exported almost USD3.65 billion, with China being the largest buyer,\u00a0<\/span>purchasing<\/span>\u00a028.5<\/span>\u00a0percent of the exports, followed by Cambodia and Thailand.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The construction materials market\u00a0will benefit\u00a0from\u00a0the removal of the property market\u2019s bottlenecks\u00a0and public construction\u00a0projects\u00a0<\/p>\n","protected":false},"author":12,"featured_media":20970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[209,668,557,135],"class_list":["post-10791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-construction","tag-investment","tag-property-market","tag-vietnam","news_country-vietnam","news_author-property-report"],"acf":[],"yoast_head":"\nHo Chi Minh\u2019s construction materials market expected to recover with property market | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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