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Thursday, July 25, 2024

Ten more property firms cry for help

The Saigon Times

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HCMC – After 95 real estate enterprises in HCMC proposed removing obstacles to 102 housing projects, ten others have made the same petition as their 11 projects are having difficulty with procedures.

Dong Nam Textile JSC has proposed changing the land use purpose for its Dong apartment, trade center and supermarket project in Tan Phu District since 2016 but the proposal has yet to be approved, Thanh Nien Online newspaper reported.

According to the company, it placed a deposit of VND43 billion for the project. After many meetings with the municipal government and the relevant departments, further procedures for the project have yet to be completed.

A leader of Dong Nam Textile JSC said the prolonged approval process had resulted in a delay in executing the project. In addition, the firm failed to arrange capital for other business activities and develop new factories, thus hurting the confidence of its stakeholders and affecting the livelihoods of its employees over the past few years.

Therefore, Dong Nam proposed the HCMC government change the land use purpose for its project so that the company can execute and put the project into operation soon.

At for the 10-hectare Truong Luu housing project in Thu Duc City of Kim Oanh Investment and Development JSC, the 1/500 planning for the project, allowing a population of 2,050 people, has been approved. However, the population indicator has not been added to the 1/2000 planning of the Truong Luu residential area approved by the HCMC government.

The establishment of Thu Duc City by merging three districts has caused difficulties in adjusting the 1/2000 planning.

Regarding a project to develop a representative office and a guest house of Hau Giang Province and a trade center and apartment complex in Thu Duc City’s Thanh My Loi Ward, the investor said it had obtained the land use right and the investment approval and made a deposit in line with the law.

The project is eligible for the conversion of the land use purpose. However, the project has been delayed for over 11 years.

The slow approval of investment procedures has hindered the company from executing the project.

The investor proposed the municipal government and the relevant departments and agencies remove the obstacles facing its project so that the company can complete procedures and start work on the project.

According to the HCMC Real Estate Association, it had sent the proposals of 95 property enterprises to the HCMC government and the municipal Department of Construction, suggesting removing obstacles facing their 102 commercial and social housing projects.

HCMC Chairman Phan Van Mai later directed the Department of Construction to coordinate with the Departments of Natural Resources-Environment, Planning-Investment, Finance, Planning-Architecture and Justice, the municipal inspectorate, the Department of Tax and other relevant agencies to weigh the proposals of enterprises.

They were also asked to work with the investors of the projects. If the removal of difficulties is beyond their jurisdiction, they should report to the city government.

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