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VCSC Daily - Real estate prices rerating downward - Risk on trade loses steam

Market Commentary

31 Oct 2011

Over the weekend we saw one of the first developers choosing to bite the bullet, cut its losses, and try to sell its products at a discount. PV Power Land (HNX: PVL) announced it would cut its primary selling price on its Petro Landmark project in District 2 by up to 35% vs. its claimed cost, from a cost of VND23,8mn/m2 down to as low as VND15,5mn including VAT

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