8 real estate projects have had their legal issues removed by Ho Chi Minh City

(Dan Tri) - Ho Chi Minh City has completely removed legal obstacles for 8 projects, while 22 other projects are still being processed.

The Ho Chi Minh City People's Committee has just sent a report to the Ministry of Construction on the real estate and housing market situation in the third quarter.

Notably, according to the report, since its establishment (May 2023) up to now, the Ho Chi Minh City Working Group has held 10 meetings and issued 15 conclusion notices, considering and resolving 30 projects with problems.

Of which, 8/30 projects have been completely resolved, 22/30 projects with problems are being continued to be consulted and handled by departments, branches, and Thu Duc City according to regulations.

8 projects with complete legal settlement include: Song Viet Complex of Quoc Loc Phat Joint Stock Company; Construction of social housing area of ​​VTHouse Joint Stock Company and Tan Giao Joint Stock Company; project of Suntory Pepsico Vietnam Beverage Company Limited;

Metro Star Apartment and Commercial Complex of Metro Star Investment Joint Stock Company; Tan Thang Sports and Residential Complex (commercial name is Celadon City - progress adjustment) of Gumaland Joint Stock Company;

Land area of ​​over 11,000m2 in Hoc Mon district of Western Saigon Joint Stock Company; Song Da - Thang Long high-rise residential project, district 7 of Hung Thinh Incons Joint Stock Company; Binh Thanh district education area of ​​Tri Tue Company.

Ho Chi Minh City completely removes legal obstacles for 8 projects (Illustration: Trinh Nguyen).

The Ho Chi Minh City People's Committee continues to preside over and assign departments and branches to step up the review of investment projects that are slow to implement due to problems arising in the process of complying with legal regulations to have a direction to handle them in accordance with legal regulations, avoiding waste of land resources, causing loss of urban beauty and construction safety.

At the same time, Ho Chi Minh City will review the content of inadequacies, overlaps and conflicts between related regulations to remove common obstacles for projects to speed up investment and construction progress; handle inadequacies, perfect policies and mechanisms to clear bottlenecks in investment activities in the area.

In the third quarter, Ho Chi Minh City approved the investment policy and selected investors for 3 projects with a total investment of VND8,806 billion. The city confirmed that 4 projects are eligible to mobilize capital for future commercial housing products, including 1,611 low-rise apartments.

The city assessed that the real estate market has gradually recovered, from negative in 2023 to positive again since the beginning of this year. The growth rate is still slow but there are positive signs. Some new projects have been approved for investment and some old projects have been restarted thanks to the removal of difficulties.

It is forecasted that in the last 3 months of the year, the market will continue to recover but at a slow pace, without any breakthroughs. Prices may increase slightly in some segments due to the regulation of land prices when issued, but there will be no strong fluctuations. New supply will gradually be added, contributing to increasing transaction volume. The apartment segment is still considered to have the most potential due to slow supply growth and high demand.

Source: https://dantri.com.vn/bat-dong-san/8-du-an-bat-dong-san-duoc-tphcm-go-xong-phap-ly-20241104081025992.htm