(NLDO) - The Ministry of Construction has agreed to convert the purpose and function of these 3,790 apartments into commercial housing.
Vice Chairman of the Ho Chi Minh City People's Committee, Mr. Bui Xuan Cuong, has just issued a document approving the content of the report and proposal of the Ho Chi Minh City Department of Construction on continuing to implement the policy of auctioning 3,790 apartments at Lot R1, R2, R3, R4, R5 in the 38.4-hectare Area in the Thu Thiem New Urban Area, An Khanh Ward, Thu Duc City.
The purpose of use and function of these apartments have been approved by the Ministry of Construction to be converted into commercial housing.
Panoramic view of the project from the internal road
According to the Ho Chi Minh City People's Committee, the Department of Construction is responsible for the accuracy of related reports and proposals. At the same time, the heads of relevant departments, branches and units are assigned to coordinate the implementation of the contents according to the direction of the Chairman of the City People's Committee.
At the same time, the Department of Natural Resources and Environment (newly named the Department of Agriculture and Environment) is requested to speed up the auction of the above 3,790 apartments; ensure compliance with legal regulations and not cause damage or loss of public assets.
Project view from Luong Dinh Cua street
Notably, this resettlement area has gone through at least 4 unsuccessful auctions. Only this time have 3,790 apartments in Lots R1, R2, R3, R4, R5 been approved to be converted to commercial housing and auctioned.
These apartments are part of the 12,500-apartment resettlement program for the Thu Thiem mega-urban area. The project is located on the main road of Mai Chi Tho Street, connecting several roads along Luong Dinh Cua Street. The project was handed over before 2016.
However, in the past, during the process of choosing a compensation plan, many people found that the compensation price did not follow the market price, so they chose to receive money instead of receiving the apartments that the city had prepared. Therefore, these apartments have remained unsold since then.
The lower part of the road of apartment complex R5 has been fenced off to prevent cars from passing through.
The entire Thu Thiem resettlement apartment complex
The whole project seen from above
Panoramic view of all apartment blocks in the project of more than 32 hectares in Binh Khanh ward - Thu Thiem
Panoramic view of all apartment blocks in the project of more than 32 hectares in Binh Khanh ward - Thu Thiem
In previous auctions, the starting price of 3,790 apartments was VND9,900 billion.
Responding to reporters from the Lao Dong Newspaper about the unsuccessful auctions of these resettlement apartments, experts pointed out that the reason lies in the starting price being too high, the total auction amount being too large, making it difficult for any unit to stand up and implement it. Meanwhile, the project has been built for many years but has not been put into operation, so it is somewhat degraded. Any investor participating in it must spend a lot of money to invest and repair before being able to resell.
View from resettlement project through Vinhomes Central Park urban area - Binh Thanh
Panoramic view of the project from above
The road between the two areas of the project is busy with traffic.
Previously, the city also had a policy to request to convert resettlement apartments in Thu Thiem New Urban Area into commercial apartments. However, after calculating construction costs, loan interest, and land prices, the investment cost was over 27 million VND/m2, not including land compensation and other costs.
The leaders of the Department of Construction previously affirmed that the city leaders had a policy to convert these 3,790 resettlement apartments into commercial apartments, but it was difficult to convert them into social housing because of many related issues, including land use fees, compensation costs for site clearance, etc. In addition, the regulations stipulate that social housing has an area of 20-70 m2 while this resettlement project has apartments with an area of more than 70%, up to 60-70 m2.
A corner of the project
New City project - part of the overall area of more than 32 hectares
Notably, right next to the above resettlement area, there are also 2 areas R8-R9 of the New City project that have been allowed by the Ho Chi Minh City People's Committee to temporarily pay the land use right value after a long period of entanglement.
After successfully auctioning 3,790 apartments, the city will recalculate the land use rights value of the New City project to propose a suitable solution.
Source: https://nld.com.vn/hien-trang-3790-can-ho-o-thu-thiem-sap-duoc-dau-gia-nhin-tu-flycam-196250317120221269.htm
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