The real estate market in the South receives good news.

The real estate market in the South is receiving many positive signals, from the removal of legal obstacles to the restart of projects.

The real estate market in the South is receiving many positive signals, from the removal of legal obstacles to the restart of projects.

Recently, the Ho Chi Minh City Department of Construction granted a construction permit for the CC1 and CC5 high-rise apartment complex project in the Nam Rach Chiec residential area, An Phu ward, Thu Duc City (Ho Chi Minh City), with Dat Xanh Group Joint Stock Company as the investor. This is considered a major step forward for the investor, as for many years, the ambition to revive this project has been repeatedly mentioned in the investor's business plan, but has been delayed due to legal obstacles.

The project is planned to include 12 apartment buildings with 33-35 floors each, totaling 3,175 apartments. According to the construction permit, the building density for the podium is 39.4% and for the towers is 24.6%, with a total floor area of ​​336,647 m2, excluding the basement and stairwell. Once construction begins, this project will add to the market's supply in the near future.

It is known that, in addition to the CC1 and CC5 high-rise apartment projects in the Nam Rach Chiec residential area, the Ho Chi Minh City Task Force has held 10 meetings and issued 15 notices of conclusions, considering and resolving issues for 30 projects facing obstacles. Of these, 8 out of 30 projects have been completely resolved, while 22 out of 30 projects with remaining issues are being further addressed by relevant departments, agencies, and the People's Committee of Thu Duc City in accordance with regulations.

For projects still facing difficulties and obstacles, the Ho Chi Minh City People's Committee will continue to take the lead, assigning relevant departments and agencies to intensify the review of these issues in order to find solutions in accordance with the law.

Besides the positive signs from projects facing legal obstacles being resolved, the Southern real estate market also recorded more good news in the latter part of the year with the restart of many projects.

For example, the Conic Boulevard apartment project, located in Tan Kien town (Binh Chanh district, Ho Chi Minh City), invested by Construction and Exploitation of Transportation Works 584 Joint Stock Company, started construction in 2005. After a long period of implementation, construction stopped in 2020. The reason given was problems with funding and repayment of bank loans. Subsequently, the project was restarted with the participation of Linh Phong Conic Construction, Investment and Development Joint Stock Company (Conic) as the developer.

Recently, Conic has partnered with Eximrs Real Estate Joint Stock Company (marketing and distribution unit) and Viet A Bank to jointly develop the Conic Boulevard Project.

Previously, the market also witnessed a series of other collaborations, such as TT Capital Investment Joint Stock Company partnering with Cosmos Initia Company (a member of Daiwa House Group) to develop TT Capital's real estate projects. The first project is called TT AVIO in Di An City (Binh Duong).

For example, Kim Oanh Group signed cooperation agreements with Japanese companies such as Sumitomo Forestry Group, Kumagai Gumi Group, and NTT Urban Development Company to develop the One World urban area project in Binh Duong…

In light of these moves by businesses, Mr. Luu Quang Tien, Deputy Director of the Institute for Economic , Financial and Real Estate Research at Dat Xanh Services, commented that the real estate market is gradually shifting to an "attack" phase from the supply side.

"After a period of cautious defense, the market is gradually shifting to an offensive phase with many noteworthy positive signs. Although many challenges remain, opportunities are still wide open for those who are well-prepared and ready to seize the moment," Mr. Tien said.

Similarly, Mr. Pham Lam, Vice Chairman of the Vietnam Real Estate Brokers Association, also believes that the real estate market will gradually become more vibrant. He predicts that in the coming period, macroeconomic factors will stabilize, developers will prepare to accelerate with a new mindset, supply will improve, and buyer confidence will gradually return, leading to increased demand.

Source: https://baodautu.vn/batdongsan/thi-truong-bat-dong-san-phia-nam-don-nhan-tin-vui-d229430.html