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NEWS

HCMC – Investors’ role should be enhanced in land withdrawal

25-03-2013

 


A resettlement apartment project in Binh Trung Dong Ward in HCMC’s District 2 - Photo: Dinh Dung

Anh Tuan Housing Construction and Trading Ltd Co. has applied to convert an apartment project with 520 units in Nha Be District into one for low-income people while Lan Phuong Co. is seeking ways to sell 1,100 condos in a project in Thu Duc District under the low-cost status.

Similarly, Transport Engineering Construction & Business Investment Company 584 wants the same treatment toward its 1,000-condo project in Binh Chanh District.

The Ministry of Construction has issued a circular providing measures designed to prop up the dormant housing market by offering financial incentives to promote the sale of apartments to low-income earners.

The originally commercial projects eligible for the ministry’s scheme must have each apartment measuring less than 70 square meters and priced at no more than VND15 million per square meter.

The conversion is expected to make it easier for low-income people, civil servants and military officers to own a home.

However, the construction department announces not to accept the conversion of commercial housing schemes which have completed technical infrastructure but have not kicked off construction. It is because the city has approved in principle the development of 25 projects so far, 22 of them set for completion by 2015 with 17,900 units.

Besides, the department said, the city government has yet to consider converting housing projects into resettlement homes while the list of resettlement housing projects from now to 2015 is already available.

Relating to trading forms, the department said the State will not use State money to buy housing. Low-cost home developers will have to directly sign selling and leasing agreements with customers who are approved by the Council of Low-cost Housing Leasing, the department claimed.

The HCMC Steering Committee for Housing Policy and Real Estate Market on Thursday worked on how to deploy Resolution 02 of the Government to seek solutions to difficulties facing the real estate market.

The city has around 1,321 housing projects at the moment as reported by the construction department, with only 131 of them already complete.

The city now has some 14,500 apartments, more than 300,000 square meters of land lots and nearly 59,000 square meters of office space worth a combined VND30 trillion remaining unsold or unoccupied.

 

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