The Binh Dang commercial service and apartment project is about to be "revived" after Ho Chi Minh City leaders took drastic action - Photo: NGOC HIEN
Speaking to Tuoi Tre Online on July 1, a representative of Saigon 5 Real Estate Development Joint Stock Company said that the company had just received a document concluding a meeting to resolve problems with the Binh Dang commercial service area - apartment project (HCMC) chaired by Chairman of the HCMC People's Committee Nguyen Van Duoc.
Accordingly, the Ho Chi Minh City People's Committee agreed in principle to allow Saigon 5 Real Estate Development Joint Stock Company to continue investing and implementing the Binh Dang commercial service and apartment project on the basis of legal documents previously appraised and approved by competent authorities.
Specifically, the Chairman of the Ho Chi Minh City People's Committee assigned the Department of Construction to consider and resolve the issuance of a construction permit for the above project based on the conditions for granting construction permits and the approved detailed planning project at a scale of 1/500, according to its authority so that the investor can continue to implement the project in accordance with legal regulations.
Chairman Nguyen Van Duoc requested that the issuance of this construction permit be completed before July 20, 2025.
Regarding the extension of the project investment progress and updating the investor's name in the project investment approval decisions, the Chairman of the Ho Chi Minh City People's Committee assigned the Department of Finance to urgently review, appraise, report, advise and propose, and submit to the City People's Committee for consideration of extending the project investment progress and updating the project investor's name according to the issued land use right certificate. This procedure was requested by Mr. Duoc to be completed before July 5, 2025.
In addition, regarding project planning, the Chairman of the Ho Chi Minh City People's Committee assigned the locality to update the content of the approved 1/500 scale detailed planning project of the above project into the 1/2,000 scale zoning planning project and must complete it within 6-2025.
The Chairman of the Ho Chi Minh City People's Committee also assigned Mr. Vo Van Hoan - Vice Chairman of the Ho Chi Minh City People's Committee - to continue to direct the final handling of related issues. In case of difficulties or problems beyond the authority, it is necessary to report and propose to the Chairman of the City People's Committee for consideration.
Thus, if these procedures are completed in July as required by the city's leaders, the Binh Dang commercial service area - apartment project will be officially unstuck, creating conditions for the project to "revive" and rebuild after 6 years of "standing still".
Ho Chi Minh City People's Committee quickly intervened to remove obstacles.
Regarding this project, on May 29, 2025, Tuoi Tre Online newspaper published an article "The heartbreaking story of a multi-billion-dong apartment project that has been 'frozen' for 6 years in Ho Chi Minh City" reflecting the difficult situation of the investor and the waste of assets when the project cannot be built.
Exactly 3 days later, the Ho Chi Minh City People's Committee responded in writing to Tuoi Tre newspaper, in which the Ho Chi Minh City People's Committee criticized the units for the delay in handling procedures.
After that, the project was put on the city's list of obstacles to be removed.
A few days later, Mr. Nguyen Van Duoc - Chairman of the Ho Chi Minh City People's Committee, Head of the Special Working Group to review and remove difficulties and obstacles for constructions, projects, and land plots in Ho Chi Minh City - directly met to remove obstacles for this project.
As Tuoi Tre Online reported earlier, despite starting construction 6 years ago, pouring in more than 260 billion VND and having completed the ground floor, the Binh Dang commercial service - apartment project (District 8, Ho Chi Minh City) has been "frozen" for the past 6 years due to administrative procedures.
Every month, the investor has to pay about 1 billion VND in bank interest, and has so far generated more than 51 billion VND in profit, while the project is stuck in administrative procedures, causing financial difficulties for the business.
Source: https://tuoitre.vn/du-an-dung-hinh-6-nam-chu-cich-ubnd-tp-hcm-giao-han-chot-go-vuong-20250701202415196.htm
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