Property network to help investors

(16-05-2009)

HA NOI — A network of real estate trading floors in the north which opens in Ha Noi today was tipped to be a strong force in the domestic market.

Establishment of the network was based on five firms, including Viet Nam Vreex Real Estate Trading Floor Joint Stock Company, Housing Group, Viglacera Land, Thang Long Aviation Service Joint Stock Company and Eurowindow Holding.

The network’s management board would be responsible for organising activities for the 52 members who had joined so far.

Vreex chairman Phan Thanh Mai, who is head of the board, said establishing the network was timely.

It would develop under State standards and had the capacity to help real estate investors and traders share information and reduce risks.

The State could check trading processes and legal procedures of property on the network, he said.

Thang Long Aviation chairman Pham Ngoc Thanh, who is the board’s secretary, said a proliferation of real estate trading floors existed with many associated problems.

The network would solve the troubles, connect the trading floors and boost trading activities between businesses, investors and customers, Thanh said.

Former national resources and environment deputy minister Dang Hung Vo said the network would ensure the property market developed transparently. — VNS

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