Social housing segment in Ho Chi Minh City: High demand, but information remains vague
The demand for social housing for workers and low-income laborers is very high, but information about these projects is still vague, especially, accessing the projects is not easy.
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| The social housing project with the commercial name Phu Tho DMC (District 10, Ho Chi Minh City) has basically completed the frame construction (Photo: VD) |
Shorten the procedural process
Recently, information about the development of social housing in Ho Chi Minh City, Mr. Tran Hoang Quan, Director of Ho Chi Minh City Department of Construction said that in the city, there are currently 6 completed social housing projects with a scale of 2,740 apartments; 4 projects under construction with a scale of 2,874 apartments. In addition, units are completing procedures for 27 projects, a total of nearly 40,000 apartments.
A representative of the Ho Chi Minh City Department of Construction added that to complete the goal of building 35,000 social housing units by 2025 and 93,000 social housing units by 2030, the Department proposed a breakthrough solution with a 2-step process and was approved by the Ho Chi Minh City People's Committee.
Specifically, previously, the process for social housing projects consisted of three steps. First, the Department of Planning and Architecture reviewed the planning. Next, the Department of Planning and Investment gave its opinion on approving the investment policy. Finally, the Department of Natural Resources and Environment carried out the steps of land recovery and land allocation to investors to implement the social housing project.
With the new process, all three departments carry out the steps together, taking 51 days. Then, the Department of Construction and the districts carry out the remaining steps within 45 days. This process helps to significantly shorten the project implementation time.
According to Mr. Le Huu Nghia, General Director of Le Thanh Construction and Trading Company Limited, the shortened investment procedures for social housing projects is the key point, helping to remove obstacles for investors and speed up the implementation of social housing projects.
Because in the past, businesses wanting to invest in social housing projects had to carry out procedures related to determining land prices, land use fees, and land rent to apply for support. However, the procedures for requesting exemption from land rent and land use fees often took a long time, causing the project to be behind schedule. There were even projects that had been put into use and handed over to buyers, but the investor had applied for exemption from land use fees for many years but it had not been resolved, because the calculation of land use fees had not been completed.
Not easily accessible
The shortened procedures for implementing social housing projects is good news. However, what worries people who want to buy a house is the information related to social housing projects in the area.
For example, one of the social housing projects that Ho Chi Minh City residents are interested in is the Complex Project at 324 - Ly Thuong Kiet (District 10), commercial name is Phu Tho DMC, invested by Duc Manh Joint Stock Company. The project has an area of 18 hectares, including 4 blocks of 25 floors, expected to provide 1,254 apartments to the market, owning a quite prime location, located right on the main road, with full surrounding amenities, including hospitals, sports areas, universities... However, there is currently almost no information on the market for sale related to this project.
In 2022, a number of brokerage companies loudly announced information about the Phu Tho DMC Project and received deposits/purchase registrations from many customers. At that time, Duc Manh Company had to send a "rescue" document to the People's Committee of District 10, stating that the Project was under construction and did not meet the conditions for sale or lease according to regulations. After that, the sales related to the Project stopped and related information was no longer seen on the market.
Currently, the Phu Tho DMC Project has basically completed the frame and is in the process of completion. However, information about the Project is still vague, while customer demand is very large.
Reporters of Dau Tu Newspaper went to Duc Manh Company - Ho Chi Minh City Branch at the registered address of 324 - Ly Thuong Kiet (District 10) to find out, but could not find the investor's office, and asked the people around but no one knew any information. When reporters asked the security guard at the construction site about the Phu Tho DMC Project, he refused to answer, and this person even seemed annoyed and did not allow taking pictures of the Project.
Another social housing project in Long Truong Ward (Thu Duc City) started construction more than 2 years ago, and is expected to provide nearly 600 apartments upon completion. According to the report of the authorities, this project is under construction, but recently, a reporter from Dau Tu Newspaper went to the project to record the reality, the project land is tightly fenced with corrugated iron, the 2 main gates are locked. Inside, weeds grow wildly, large puddles of water surround dozens of concrete piles, and there are no people or machines.
About 3 km away is the DE Apartment Project (Phu Huu Ward, Thu Duc City) invested in the spirit of new generation social housing with Singaporean design. The project broke ground 2 years ago, but until now it is still just an empty plot of land. Authorities said that this project has not been constructed yet…
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