In 2024, Ho Chi Minh City will have 17 real estate projects approved for investment policy.

As of December 15, Ho Chi Minh City has 17 housing projects approved for investment, including 8 projects whose decisions were issued by the Thu Duc City People's Committee after being decentralized.

As of December 15, Ho Chi Minh City has 17 housing projects approved for investment, including 8 projects whose decisions were issued by the Thu Duc City People's Committee after being decentralized.

The above information was stated by Mr. Tran Hoang Quan, Director of the Department of Construction of Ho Chi Minh City at the Conference to evaluate the results of implementing the socio-economic development tasks in 2024 and deploy tasks in 2025, organized by the People's Committee of Ho Chi Minh City on the morning of December 26.

Remove 34 projects from monitoring and removing obstacles

According to Mr. Tran Hoang Quan, the City's real estate market has gradually recovered, from a negative level in 2023 to positive growth again from the beginning of 2024. 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. Specifically, as of December 15, the City has 17 housing projects approved for investment (including 1 social housing project).

Specifically, the projects approved by the Ho Chi Minh City People's Committee for investment include: Rita Vo Trade, Service and Luxury Apartment Center; Dong Quang Residential Area (Dong Quang Town); BI, B2 Apartment Building (Terra Rosa); Moonlight Center Point; Nhon Duc Nha Be Residential Area; Le Thanh Tan Kien Social Housing; NBB Garden III Residential Area; High-rise Residential Area - Subdivision No. 11A; NHT Residential Area.

In addition, there are 8 projects approved by the People's Committee of Thu Duc City in principle for investment after being decentralized, including: My Phu Residential Area; Dien Phuoc Thanh Apartment Area; High-rise office and residential area; Thang Long low-rise residential area; Truong Thanh Ward residential area; Phu Huu apartment building area; Commercial - Service combined residential area, high-rise office; Dai Nhat Apartment - Block A of Dong Nam Company Residential Area.

Quoc Loc Phat's Song Viet Complex project is one of eight projects that have had their problems completely resolved. Photo: Le Toan

In 2024, the City also has 4 housing projects licensed for construction. Including: New Tech Mixed Commercial and Service Apartment Complex; High-rise housing in part of subdivision 15 Nguyen Huu Tho Street; CCl high-rise apartment complex and CCS high-rise apartment complex in Nam Rach Chiec residential area; Apartment complex in Truong Thanh ward.

Regarding the results of removing obstacles for real estate projects, out of the 64 projects that the City received for processing, 34 projects were considered for removal from the monitoring and processing list. Of these, 12 projects have had their obstacles removed or no longer have any recommendations; 5 projects are not real estate projects; 17 projects need to wait for the conclusion and handling opinions of inspection, investigation and auditing agencies; projects with public land origin need to be legally reviewed.

In addition, there are 30 projects that need to be monitored and handled. Of these, 2 projects with problems are under the authority of the Central agency; 8 projects with problems are under the authority of the City People's Committee; 20 projects with problems are under the authority of the Department, District People's Committee and Thu Duc City.

It is forecasted that in the first months of 2025, 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 the City's land prices when issued, but there will not be 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. New policies on land, housing, real estate business, and credit, effective from August 1, will have a positive impact on the market in the coming time.

Second Estate Tax Study

According to Mr. Tran Hoang Quan, in the coming time, the City will continue to review and adjust construction planning and urban planning in accordance with the actual socio-economic development situation to ensure stable and sustainable urban development.

At the same time, improve and shorten the time for investment procedures in real estate projects in conjunction with the reform of administrative procedures related to project development, especially urban development and renovation projects.

The city also studies mechanisms for mobilizing capital for infrastructure investment, urban development and renovation from banks, credit institutions, domestic and foreign financial investment; studies to create a legal corridor for a number of new financial instruments for the development of the real estate market to diversify investment capital sources in the real estate market.

Develop mechanisms to support investors in site clearance compensation and land acquisition; land use rights auction mechanism. Regulate the method of calculating land use fees in a simple, scientific, and market-appropriate manner.

At the same time, research a number of tax solutions to ensure fairness in people's access to housing, specifically applying high tax rates to second and subsequent properties and real estate transactions that take place within a short period of time after purchase.

Create a legal corridor to increase budget revenue from real estate market activities by applying real estate leasing and collecting added value of land and real estate on land from infrastructure investment using budget capital.

The city also strengthens management and supervision of investors and brokers' activities to ensure professionalism and ethics in business activities; implements measures such as improving licensing processes, proposing and monitoring compliance with regulations on business ethics, as well as strengthening inspection and handling of violations.

At the same time, promote close coordination between functional agencies to help optimize information and the effectiveness of management, inspection, supervision and handling of violations. Improve the process and mechanism for resolving disputes, complaints and denunciations, along with strengthening the handling of violations in accordance with the law; create effective mediation and arbitration mechanisms, and strengthen management and inspection to ensure compliance with the law.

Source: https://baodautu.vn/batdongsan/nam-2024-tphcm-co-17-du-an-bat-dong-san-duoc-chap-thuan-chu-truong-dau-tu-d235642.html