ニュース
Property firms caught in dilemma
06-11-2012
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In particular, the city-based housing projects with slow compensation progress, below 50% of the land areas for the projects, will be cancelled out. In case compensation has been paid to households in half of the land areas, investors still have to demonstrate the ability to carry out the projects.
However, in a recent meeting with realty companies, Minister of Construction Trinh Dinh Dung advised owners of the projects that have not finished site clearance compensation to consider halting their projects as apartment supply is already abundant.
Nguyen Van Duc, deputy director of Dat Lanh Real Estate Co., stressed that while the construction ministry was seeking solutions for the property market, the policy of HCMC forced investors to implement their projects or else they would face the axe.
Tran Minh Hoang, chairman of Vinaland, said few projects would get going in the current context. Still, it will be difficult for HCMC to carry out its policy, he said, explaining that it is not easy to find other investors to assign projects at present.
Moreover, he wondered how the State management agencies would handle the projects that had half done the site clearance work.
