[NEWS] - Problems with many real estate projects in Ho Chi Minh City are not under the authority of the Department of Construction

21/06/2023

The HCM City Department of Construction shared that the HCM City Real Estate Association has many documents sent to the Department to summarize the recommendations of businesses related to real estate projects that are difficult but have many contents under the office of the Department.

The Department of Construction of Ho Chi Minh City has just sent a report to the People’s Committee of Ho Chi Minh City regarding the settlement progress for about 148 real estate projects (real estate) with legal problems from the Ho Chi Minh City Real Estate Association (HoREA) synthesis and recommendations.

In the previous meetings, the People’s Committee of Ho Chi Minh City assigned the Departments of Construction, Natural Resources and Environment, QH-KT, Planning and Investment of Ho Chi Minh City together with relevant units to discuss and agree with HoREA to group problems to solve problems submit it to the People’s Committee of Ho Chi Minh City for guidance as well as assign the unit responsible for handling and dealing with groups of documents with the same problems according to functions and tasks.

According to the Ho Chi Minh City Department of Construction, there are about 148 properties with 189 recommendations for settlement and removal. Up to now, the Department has received reports on the response progress of ⅞ relevant units, while the HCMC Department of Natural Resources and Environment has not yet reported.

More specifically, regarding the progress of settlement and response to petitions, the Ho Chi Minh City Department of Natural Resources and Environment has 101 petitions related to 96 real estate projects that have not yet been answered; Ho Chi Minh City Department of Planning and Economics has about 38 proposals related to 27 projects and has responded with 29 documents; Ho Chi Minh City Department of Construction has recommendations related to 20 projects and has about 17 responses; Ho Chi Minh City Department of Planning and Economics has about 21 recommendations related to 21 projects and has received about 13 responses; The Southern Zone Management Board made a proposal related to a project that had a written response.

The Ho Chi Minh City Department of Construction said that the HoREA side has many documents sent to the Department to summarize the recommendations of businesses and many contents are not within the function of the HCM City Department of Construction. Therefore, the Department of Construction has proposed to the People’s Committee of Ho Chi Minh City to assign responsibility to each department to handle the recommendations based on the grouping results until the recommendations and problems are resolved and not transferred to the departments for settlement problems.

For recommendations and problems of any department, that unit needs to actively work with the investor to guide the completion of documents and procedures according to regulations or lead with relevant departments to solve problems. In case the departments do not coordinate and resolve, they must report in writing to the People’s Committee of Ho Chi Minh City to direct the implementation units.

For new projects with problems that are not on the list of 148 projects mentioned above, the HoREA side synthesizes reports for the authorities to continue to solve according to their competence.

The real estate market is facing many difficulties, Indochina Holding wishes to make some contribution to the recovery of the real estate market, we currently have many projects with bad debts at credit institutions DATC and VAMC around the world to businesses to provide good investment opportunities.

Hoang Yen (Collection source)

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