A different perspective on Vietnam’s economy and doing business in Vietnam. Make sure to  subscribe.

Vietnam real estate firm wants to settle outstanding bond debts with property

Real estate firm Novaland has proposed using unsold properties in its Grand Manhattan development in Ho Chi Minh City to cover outstanding bond debts, Vietnam News is reporting

It’s not clear that this resolution has been accepted or that it will be by creditors. The bond debt is outstanding from February and May of this year and the Grand Manhattan is currently unfinished and stalled as it waits for legal hurdles to be removed by the city. Furthermore, any property used to cover debts will need to then be sold by investors in a market that is currently in a slump.

If you would like to see more posts like this, please let me know by making a contribution.

Latest news...

Get Vietnam news sent straight to your inbox

advertising enquiry