Anyone passing Mai Chi Tho Street - the central route of Thu Thiem New Urban Area (Thu Duc City) - at the beginning of the new year 2025 cannot help but feel sad when witnessing thousands of abandoned apartments in the 38.4-hectare resettlement area in Binh Khanh Ward.
Rescuing abandoned urban areas - "dead asset warehouses"
Anyone passing Mai Chi Tho Street - the central route of Thu Thiem New Urban Area (Thu Duc City) - at the beginning of the new year 2025 cannot help but feel sad when witnessing thousands of abandoned apartments in the 38.4-hectare resettlement area in Binh Khanh Ward.
These apartments were built with the goal of resettling 10,000 households that were cleared to build the Thu Thiem New Urban Area, but instead became a “warehouse of dead assets”.
Like many resettlement areas in Hanoi, despite being located in a “golden” location, with the price of each luxury apartment around reaching 100 million VND/m2, this resettlement area is currently covered in desolation. With 3,790 empty apartments, no one lives there, Ho Chi Minh City has to spend tens of billions of VND each year on maintenance, but the infrastructure is still deteriorating, trees are dying, sidewalks and entrances to some buildings are sinking…
 |
| Illustration |
A house is a place to live, a nest. So, no matter how much money is spent on repainting, an abandoned house is still just a cold block of concrete. It is known that these apartments have been auctioned by Ho Chi Minh City 3 times. The first time was in 2017 with a starting price of 8,800 billion VND. The second time was in 2018 with a starting price of 9,100 billion VND.
The third time in 2021 with a starting price of 9,900 billion VND. However, all 3 times failed because there were no bidders.
Ho Chi Minh City still intends to auction the above apartments. According to the plan, to serve the auction, the time to complete the legal documents of these 3,790 apartments will last from August 2024 to August 2025. Before October 2025, the authorities will select and hire an auction unit. The auction is expected to be held before November 2025.
Not only the resettlement area in Binh Khanh, Ho Chi Minh City currently has nearly 9,000 state-owned resettlement apartments that have not been arranged for people, scattered in 85 apartment buildings/apartment clusters in Thu Duc City, Districts 1, 3, 4, 5, 6, 7, 8, 10, 11, 12, Binh Thanh, Go Vap, Phu Nhuan, Tan Binh, Tan Phu, Binh Chanh District, Nha Be.
For the people, many are still wishing to have a place to live in those abandoned apartments, because they are currently living in temporary, damp, unsafe boarding houses. For businesses, it is a failure, because they create a project, but cannot sell the products, or cannot attract people to live there for many reasons.
From an economic perspective, this is a huge waste. Let's do a calculation, with a price of only 2 billion VND/apartment (in the affordable segment), the amount of money being "buried" in these apartments is more than 18,000 billion VND. This amount of capital is enough to build nearly 10 Phan Dinh Phung stadiums according to the new investment policy, 3 Thu Thiem 4 bridges and more than enough to build Can Gio bridge across Soai Rap river, expand National Highway 13... Therefore, any waste of public assets, no matter how it is explained, is difficult to accept.
To deal with the above assets, experts and Ho Chi Minh City have considered many options, including converting to social housing funds. However, due to strict regulations on social housing, the City's policy is to continue to arrange resettlement in some projects, and the rest will be auctioned.
Ho Chi Minh City has also issued a plan to implement measures to handle projects and works that are in backlog, stopped, or behind schedule; works, headquarters, and offices that are not in use or are not being used effectively... in order to thoroughly grasp and seriously and effectively implement the direction of General Secretary To Lam on combating waste. The city has assigned the Department of Construction to review housing projects including public housing, resettlement housing, social housing, and other state-owned housing; at the same time, identify a list of projects and works that are not in use or are being used ineffectively to propose a plan to handle problems.
People are waiting for quick action in handling abandoned assets and a series of troubled projects, because despite much talk and discussion, those cold concrete blocks are still "standing indifferent to time". This is also the situation in many other localities, including Hanoi, where many "dead asset warehouses" are lying in the rain.
If the determination is big enough and the action is drastic, clarifying the handling authority, proposing solutions according to newly issued laws, and at the same time assigning "clearly people, clear work, clear responsibilities, clear implementation time, clear efficiency, clear products" - as directed by Prime Minister Pham Minh Chinh at the recent working session between the Prime Minister and the Steering Committee on reviewing and removing difficulties and obstacles related to projects with the leaders of Ho Chi Minh City, hundreds of works, hundreds of large projects that are "inactive" will soon be effective and inevitably, many "dead asset warehouses" will become treasures.
Source: https://baodautu.vn/batdongsan/giai-cuu-cac-khu-do-thi-bo-hoang---nhung-kho-chua-tai-san-chet-d239598.html
Comment (0)