Thanh Da condo complex relocation behind schedule
HCMC – A project to replace eight blocks in the Thanh Da condominium complex in Binh Thanh District, HCMC has been carried out slower than expected due to legal and compensation issues, according to the local media. In April 2022, the groundbreaking ceremony for the construction of Blocks IV and
HCMC calls off major commercial complex project
HCMC – The HCMC government has announced its decision to cancel a commercial complex project which has been put on hold for 16 straight years. The HCMC departments of Investment-Planning and Justice have been tasked with preparing paperwork for the cancellation of the project invested by the
HCMC hikes coefficients for land prices
HCMC – The HCMC government has raised the coefficients for land prices applicable to the compensation and resettlement plans in the city this year, with effect from this Saturday, March 18. The highest coefficient is set at 25 for residential land and 38 for agricultural land. The coefficients for
VND120 trillion credit package for social housing to be rolled out
HCMC – The Government has assigned the State Bank of Vietnam (SBV) to implement a credit package of VND120,000 billion for developing homes for the poor and workers, and renovating or re-building aging apartment blocks. The SBV, the country’s central bank, was tasked with directing commercial
Real estate bonds cause real headache
Let the creditors cleanse the real estate market. They know better than all others how to deal with their money. Background In 2023, there will be some VND130 trillion worth of real estate bonds reaching maturity. Now that the property market’s liquidity has tumbled, and many projects have ground
HCMC sets deadline for removing hindrances to four realty projects
HCMC – The HCMC People’s Committee has told relevant authorities to work out plans this month to eliminate regulatory bottlenecks for four of seven real estate projects facing legal issues in the city. The city government has announced a conclusion by Bui Xuan Cuong, vice chairman of the city,
VND110-trillion package for social housing withdrawn
HCMC – The Ministry of Construction has backed off from the VND110-trillion credit package for banks to lend on to developers and buyers of social housing, according to a statement released yesterday, March 2. The ministry’s package is to recapitalize commercial banks so that they can lend on to
Ministry wants rethink of high tax on second home
HCMC – The Ministry of Planning and Investment has proposed the Government turn down the HCMC government’s proposal to impose a higher property tax on people who own a second home. It reasoned that the proposal still had inadequacies as owners of several small houses or plots of land would have to
HCMC proposes coefficient K be used to set land prices
HCMC – The HCMC People’s Committee has written to the Government proposing using coefficient K to determine land prices for many property projects in the city. It is difficult to collect and check information on the actual prices of property transactions in the city due to vagueness in those
HCMC to put up nearly 3,800 apartments for auction
HCMC – HCMC authorities are working out auction plans for land plots and 3,790 apartments in the Thu Thiem new urban area after their auctions failed for three consecutive times. A working session, with the participation of HCMC Vice Chairman Bui Xuan Cuong, discussed a detailed plan for the
Construction Ministry wants target for social homes reduced
HCMC – The Ministry of Construction has proposed the prime minister lower the target of building social homes for workers and low-income people to just over one million in 2021-2030. The budget for the plan would also be cut by VND280.5 trillion. The proposal received approval from most
Novaland proposes extending bond maturity
HCMC – Major Vietnamese real estate developer Novaland has proposed extending the maturity of the bonds it issued to a later date due to its tight budget. According to the official dispatch Novaland sent to the Hanoi Stock Exchange, the HCMC-based property firm has not been able to settle coupons
