City Land Investment Company Limited (Vietnam)

Established in 2003, the subject is known as the investor of high-end real estate projects in Ho Chi Minh, Ha Noi, Phu Quoc and Quy Nhon Cities. Among real estate project segments, the subject mainly focuses on investing and developing residential real estate projects. Some typical projects include the CityLand Garden Hills, the CityLand Center Hills, the CityLand Park Hills (Go Vap District, Ho Chi Minh City), the CityLand Riverside (District 7, Ho Chi Minh City), the CityLand Luxury Villa (Nam Tu Liem District, Ha Noi City), the Rach Tram Ecotourism & Residential Area (Phu Quoc City), etc.2022 can be said to be a challenging year for the global economy as well as the Vietnamese economy due to unpredictable fluctuations from war, inflation, pandemic consequences to tightening credit policies, greatly affecting the real estate market (especially in the second half of the year). The leaders of some businesses caught up in the law made the general sentiment in the market afraid, all transactions were delayed, ongoing real estate projects must press the "pause" button. Turn in 2023, the real estate market has not shown a clear recovery. Although the support policies from the State are being implemented (a drop in interest rate, debt repayment restructure, etc.), this needs time to take effect on the market. Most noticeably, the recent geopolitical upheaval between Hamas and Israel is most likely to spread to Middle East countries. In this worst scenario, the global economy is forecasted to continue encountering the impact of an unprecedented recession. Accordingly, the real estate market and the purchasing power are hard to recover.