Mr. Dao Quang Duong - Head of Land Economics Department, Department of Agriculture and Environment of Ho Chi Minh City - information related to land legality of Lotte Company's project - Photo: CHAU TUAN
On the afternoon of October 2, at the Ho Chi Minh City socio-economic press conference, Mr. Dao Quang Duong - Head of the Land Economics Department, Ho Chi Minh City Department of Agriculture and Environment - informed about the land legality of the Thu Thiem Eco Smart City project invested by Lotte Properties HCMC Co., Ltd.
According to Mr. Duong, since the Land Law 2024 and Decree 71 were issued, land approval and valuation have become much more convenient and faster than before.
Since the beginning of the year, Ho Chi Minh City has approved more than 70 land price plans with a total value of about 52,000 billion VND. It is expected that by the end of the year, there will be more than 70 applications submitted, bringing the total to more than 150 applications, equivalent to about 86,000 billion VND.
Regarding the project problems with Lotte Company , Mr. Duong said that since October 2022, Ho Chi Minh City has issued a decision to allocate land to this enterprise. After that, the department hired a consulting unit to implement it immediately, but some legal problems arose.
By the end of 2023, the department will submit a land price plan. In February 2024, the Government issued Decree 12 on land price determination, causing temporary difficulties for many projects nationwide. In August 2024, Decree 71 was issued to amend this problem, and the department submitted Lotte's project dossier immediately after.
"For Lotte Company's project, the procedures are correct and the processing time is very short. The reflection related to the additional obligation of 5.4% is according to the law, under the authority of the Government. The Ho Chi Minh City People's Committee has reported to the Government and the Central Government. Up to now, we have only received reflections from Lotte, there have been no other cases," Mr. Duong emphasized.
He also said that thanks to the 2024 Land Law, recently approved land allocation decisions only take about 2 months to be approved. However, there are still 84 unfinished cases under the 2003 Land Law, mainly in Binh Chanh, Hoc Mon, and the old Thu Duc.
"If processed, these 84 files alone can free up about 84,000 apartments, equivalent to more than 300,000 places to live," Mr. Duong said.
To resolve the issue, the Department of Agriculture and Environment has repeatedly reported and advised the Ho Chi Minh City People's Committee to propose the Government to allow the application of land price tables with adjustment coefficients for old, stuck records.
On September 15 and 16, the People's Committee of Ho Chi Minh City continued to report to the Government on this issue.
Previously, the Ho Chi Minh City Department of Finance said that on August 20, 2025, it received a document from Lotte Properties HCMC (Lotte Group, Korea) regarding the termination of the Lotte Eco Smart City project in functional area 2A, Thu Thiem. However, the enterprise has not submitted the procedural documents according to the Investment Law, so it is still considered an investor.
The project has an area of 7.45 hectares, capital of 20,100 billion VND, was approved for 1/500 planning, land allocation, groundbreaking in 2022 and technical infrastructure construction started in early 2025, but only stopped at building fences and leveling.
During the implementation process, Lotte repeatedly proposed increasing capital to 57,000 billion, adjusting capital contributions and extending progress.
Source: https://tuoitre.vn/tp-hcm-ly-giai-phan-anh-cua-cong-ty-lotte-ve-thu-tuc-dat-dai-o-thu-thiem-20251002163233855.htm
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