Three more real estate projects have had their land use fee issues resolved.

After a long wait, three real estate projects in Binh Duong recently received approval for land prices, allowing businesses to fulfill their financial obligations. However, hundreds of other projects are still awaiting the resolution of these issues.

Binh Duong: Three more real estate projects have had their land use fee issues resolved.

After a long wait, three real estate projects in Binh Duong recently received approval for land prices, allowing businesses to fulfill their financial obligations. However, hundreds of other projects are still awaiting the resolution of these issues.

3 projects have had their land use fees cleared.

According to information from the Binh Duong Provincial Electronic Information Portal, the Binh Duong Provincial People's Committee has approved land prices for three real estate projects in Di An City, Binh Duong Province.

Specifically, the Provincial People's Committee approved the land price for calculating financial obligations for the land plot of Phat Khang Real Estate Investment Joint Stock Company to implement the Phat Khang Housing Project in Dong Hoa Ward, Di An City.

The land valuation was conducted in January 2022. The urban residential land area is 8,265 m2, allocated by the State with land use fees collected. The average price per square meter for long-term stable urban residential land is 24.3 million VND.

This project, currently commercially known as Bcons Plaza townhouses, is developed by Bcons Group. The project comprises 115 terraced townhouses, which Bcons has constructed and handed over to customers since 2023. The selling price for each townhouse ranges from 5 to 8 billion VND.

The next project for which the People's Committee of Binh Duong province approved land prices for calculating financial obligations is that of Bcons Land Real Estate Joint Stock Company, which is changing the land use purpose to implement the Bcons Commercial - Service - Office - Apartment Complex in Dong Hoa ward, Di An city.

Land valuation was conducted in May 2022. The land use purpose was changed to urban residential land of 20,696 m2. The land use term is long-term. The form of land use is State allocation with payment of land use fees. The average land price is 26.1 million VND/m2.

The land use purpose of 2,458 m2 will be changed to educational and training land. The lease term is 50 years, with the State collecting a one-time payment for the entire lease period. The average land price is 13.8 million VND/m2.

Reportedly, this is the Bcons City apartment complex, developed and constructed by Bcons Group since 2021. The project's structural work is now complete. The project has been granted a construction permit for 5 apartment blocks ranging from 27 to 29 stories high, comprising nearly 2,000 apartments. The developer has set the selling price at 40 to 50 million VND/m2.

The final project approved by the People's Committee of Binh Duong province was the land owned by Dong Nam Construction, Business and Trade Service Co., Ltd., which was reclassified for the Ngai Thang residential area project in Binh Thang ward, Di An city.

The land valuation was conducted in July 2022. The land was reclassified as urban residential land with an area of 18,979 m2. The average land price was 21.2 million VND.

The land use purpose is being changed to educational and training land with an area of 8,160 m2. The land price is 14.2 million VND/m2 for a 70-year term and 7.3 million VND/m2 for land with 35 years and 11 months remaining on the lease.

This project, commercially known as The Gió Riverside, is being developed by An Gia Group. According to the design, this apartment complex will have 40 above-ground floors and 3 basement floors, comprising 3,000 apartments. Currently, the developer has not yet begun construction. According to An Gia Group, construction will commence in the first quarter of 2025, with sales starting at the same time.

However, many real estate businesses in the province report that many projects, despite having received construction permits a long time ago, have yet to have their land use fee rates approved. This prevents businesses from making payments and completing the legal procedures necessary to sell and sign sales contracts with customers.

Many projects have announced their investment plans.

On January 2nd, the People's Committee of Binh Duong province held a ceremony to present decisions approving investment policies and investment registration certificates for projects in Binh Duong province.

These include commercial housing projects for which the Chairman of the People's Committee of Binh Duong province, Vo Van Minh, issued a Decision approving the investment policy:

1. QP Township Joint Stock Company with the Quang Phuc 4 Housing Project, total investment capital is 3,800 billion VND.

2. Binh My 3 residential area is invested by Bac Binh Duong Real Estate Joint Stock Company with an investment capital of 3,700 billion VND.

3. The Starview commercial apartment complex investment project in Vinh Phu, with a total investment of VND 3,400 billion, is invested by Vinh Phu National Housing Organization Co., Ltd.

4. The Tan Viet Phat high-rise apartment project is invested by Tan Viet Phat Real Estate Joint Stock Company with an investment capital of 3,200 billion VND.

5. The Ava Square apartment building project is invested by An Phu Real Estate Investment Co., Ltd. with an investment capital of 2,800 billion VND.

6. SH Dong An Co., Ltd. with the Ha An Commercial and Service Apartment Complex (The An), with a total investment of VND 2,400 billion.

7. The Hoang Nam Star high-rise complex, with a total investment of 2,300 billion VND, is owned by Hoang Nam Project Investment Joint Stock Company.

8. Minh Tien Phat Real Estate Trading Company Limited with the Thinh Vuong DD (DD Prime Homes) apartment building investment project, total investment capital of VND 2,200 billion.

9. Gia Dinh Group Joint Stock Company was awarded the Decision approving the investment policy for the Gia Dinh Commercial Housing and Villa Complex project with a total investment capital of 2,200 billion VND.

10. The A&T luxury apartment project on the Saigon River is invested by A&T Thuan An Urban Development Investment Joint Stock Company with a capital of 2,100 billion VND.

11. The Tan Lap Long Tan housing project, with a capital of 2,000 billion VND, is invested by Tan Lap Dau Tieng Joint Stock Company.

12. The Hoang Nam Urban Area Project is invested by Hoang Nam Housing and Urban Development Investment Co., Ltd. with a capital of 1,700 billion VND.

13. The Vinh Tan Tien residential area construction investment project is invested by Vinh Tan Tien Investment and Development Co., Ltd. with a capital of 1,400 billion VND.

14. The Kim Son high-rise apartment building investment project is invested by Son Kim Hotel Investment Joint Stock Company with a capital of 1,300 billion VND.

15. The Tan Lap Bac Tan Uyen Eco-Residential Area Project is invested by Villa Joint Stock Company with a capital of 1,000 billion VND.

However, according to our research, among the 16 projects that received investment approval decisions, many projects had already been launched for sale and construction by their developers, and received investment approval as early as 2023.

For example, the Kim Son high-rise apartment project, commercially known as Picity Sky Park, in Di An City, Binh Duong Province, is being developed by Pi Group.

Accordingly, this project was approved by the People's Committee of Binh Duong Province with Decision No. 2341/QD-UBND dated June 16, 2023, approving the 1/500 scale planning for the project. On December 28, 2023, the project was granted Construction Permit No. 4706/GPXD by the Department of Construction of Binh Duong Province. Notably, this project was also approved by Decision No. 3009/QD-UBND of the People's Committee of Binh Duong Province on November 18, 2022, approving the investment policy and the investor.

After a long wait, three real estate projects in Binh Duong recently received approval for land prices, allowing businesses to fulfill their financial obligations. However, hundreds of other projects are still awaiting the resolution of these issues.

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