The Ho Chi Minh City Real Estate Association (HoREA) has just released a quick report on the results of resolving and removing obstacles for 156 real estate, commercial housing and urban projects in Ho Chi Minh City.
Accordingly, the Association welcomes the City People's Committee's consideration and permission for 5 corporations and investors of 5 real estate projects, commercial housing, new urban areas, including 1 foreign real estate corporation, to mobilize capital of 50% of the number of future housing products of these 5 projects, equivalent to 5,432 apartments to support (including 2,989 apartments in 1 new urban area project) for these enterprises to overcome difficulties while waiting for the conclusion of the competent state agency for projects subject to legal review in which the investors have fulfilled their obligations to pay land use fees and land rents in the past.
In addition, there is also an apartment building project in District 4 that has been given direction by the City People's Committee to departments and branches to review and resolve.
However, the Association recommends that the City People's Committee and competent state agencies soon have a final conclusion on these projects, so that the real estate market can welcome more than 5,000 apartments to help increase housing supply, create cash flow for businesses, increase market liquidity, and increase state budget revenue.
At the same time, resolve similar projects where investors also request to mobilize capital and sell future housing to clear the real estate market and ensure fairness for businesses.
One of the projects that will be cleared by Ho Chi Minh City
According to HoREA, most of the 156 projects subject to legal review are complex in nature, have been processed over many periods, and are entangled in many legal regulations due to a lack of consistency and uniformity in some legal regulations, or because they have not been regulated by law.
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