HCMC – A project to replace eight blocks in the Thanh Da condominium complex in Binh Thanh District, HCMC has been carried out slower than expected due to legal and compensation issues, according to the local media.
In April 2022, the groundbreaking ceremony for the construction of Blocks IV and VI took place even although the project was approved by the HCMC People’s Committee in 2017.
Until now, only Blocks IV and VI, with 299 households, have been relocated. The relocation of 1,278 households in the remaining six dilapidated condo buildings has yet to be carried out.
Residents in the project are offered three resettlement options: receiving money for self-resettlement, resettling in situ, or another location.
The Binh Thanh District People’s Committee proposed investing in Blocks IV and VI first and moving residents there before continuing clearance of the remaining blocks.
However, the investors find it hard to apply the regulations of the Land Law or Housing Law on land revocation, compensation and resettlement, as well as determining the apartment price for compensation.
As per the project, Blocks IV and VI will be replaced by the T4 40-floor and the T7 45-floor apartment buildings, with a total of 1,750 units. They require an investment of VND5 trillion.
The other six condo buildings will be replaced by buildings with 38 to 45 floors, with two buildings for resettlement and four to be designated for commercial housing and mixed uses.