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Property sector looking positive for Vietnam’s first international real estate conference

The country's first international real estate brokerage conference in Ho Chi Minh City at the end of the month will hear that the future for the industry is looking brighter than in many other parts of the region.

The Ministry of National Resource and Environment, which is sponsoring the two day meeting which starts on March 27, says it is expected to attract domestic and international property investors and brokers.

Vietnam's property brokers will have the chance to discuss property brokerage with representatives from the Natural Resources and Environment, Construction and Finance Ministries as well the Taxation Office and the International Real Estate Federation.

It will open against a background of lower interest rates and stable building material prices, both of which are leading to new construction. Several banks have also begun launching loan giving programmes for the real estate trade.

Currently the demand for real estate in the popular Binh Duong province remains high. According to Tan Sri Dato'Scri Liew Kee Sin of SetiaBecamex JVC, the real estate market is showing signs for recovery.

Meanwhile the construction of the Tay Do resort, the largest in the Mekong Delta region, which began last week, is regarded as a positive sign. The resort covering 15.3 hectares includes 200 rooms, entertainment and sports facilities, a super market, a three-star hotel and a residential area. It is due to be completed in 2011.