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200 resettlement apartments find buyers
The Saigon Times Daily
Thursday,  Oct 25, 2018,18:56 (GMT+7)

200 resettlement apartments find buyers

The Saigon Times Daily

A resettlement apartment project in the Thu Thiem new urban area project in District 2, HCMC – PHOTO: THANH HOA

HCMC – Some 200 resettlement apartments in the Phu My resettlement area in HCMC’s District 7 have been successfully sold to three enterprises---Thinh Phat Company, Duc Khai Company and a Long An-based firm---at an auction.

Proceeds amounted to VND224 billion, Pham Van Sy, director of the property auction center under the HCMC Department of Justice, said on October 25, according to a Thanh Nien newspaper report.

The 200 apartments belonging to a 1,000-unit residential project, funded by Duc Khai Company, were reportedly put into service in 2014. After completing the project, the company handed over 470 apartments to the city to serve the resettlement plan for households living by Te Canal and other canals in District 7. The city, however, allocated only 270 units to these households and the remaining 200 units are still vacant.

Sy also noted that the city would continue to put up for auction 3,790 resettlement apartments in Thu Thiem New Urban Area in District 2. The proposal to auction these apartments is awaiting the municipal government’s approval, he added.

The HCMC Department of Finance had earlier proposed the municipal government consider and approve the plan on fixing the value of land use rights and the number of apartment blocks at 3,790 units with a total value of more than VND9.9 trillion. These apartments were auctioned at a starting price of VND9.1 trillion, but they failed to attract any buyers.

In addition to these apartments, the Department of Construction wrote to the Investment and Construction Authority of Thu Thiem New Urban Area and the HCMC government proposing auctioning the resettlement apartment project covering 30.2 hectares in Binh Khanh Ward, District 2, funded by 21st Century International Development Co. The city will have to mobilize capital to pay the investor for the completed apartment blocks.

Regarding the project to build 1,330 apartments on a 38.4-hectare site in Binh Khanh Ward, funded by the joint venture between Sacomreal, Thuan Viet Company and Thanh Thanh Cong Group, the municipal government is awaiting the prime minister’s approval for a plan to assign the investor the task of selling the apartments rather than having the city continue its current system.

After the sale, the city will appraise the land in accordance with the prices on the market to collect land use fees. The investor will stop paying more than VND700 billion for the use of the land.

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