VietNamNet Bridge – A company commissioned by HCM City authorities to build 11,000 apartments in the south of the city for people relocated to make way for public works has backed out pleading lack of capability.

Sai Gon Giai Phong (Liberated Sai Gon) newspaper reports that other builders will get the contracts for the remaining 8,500 units.

The apartments were all intended for people affected by new projects in Phu My Hung, the urban area that was developed in District 7.

However, after it was discovered that the relocated people required only 2,500 apartments, authorities decided to offer the rest to those relocated due to other projects.

The 11,000 apartments will be built at three different locations, two in Binh Chanh District and the other in Nha Be District.

With IPC to build at one of the Binh Chanh sites, the city will select investors for the other two projects who will have to pay compensation to land owners and land-use fees.

Once they finish construction, they can sell apartments to districts that need them and also use part of the projects for commercial purposes.

The Department of Construction has asked districts to determine the number of apartments they need to relocate people and when they need them.

It has also petitioned the City People's Committee to set up a committee to manage the overall relocation project involving the 11,000 apartments.

VietNamNet/Viet Nam News