Investor of urban projects in Thanh Hoa

The central province of Thanh Hoa is going to have new urban areas in the districts of Hoang Hoa and Hau Loc with total investment capital of trillions of VND.

The provincial authorities have released a decision on accepting the joint name of Oleco-NQ Co Ltd and Hano-Vid Real Estate JSC as the investors to execute the Loc Tan residential quarter in Hau Loc Town (Phase 1).

The project, covering an area of 10.53 hectares, has investment capital of VND720 billion. In the future, it would be an urban area with a population of 1,100.

Meanwhile, Binh An Real Estate Investment Trade JSC has become an investor of the project on urban residential quarter No 2 in Hoang Hoa district, capitalized at VND1.954 trillion. Sao Mai Investment and Construction has got the nod from the local authorities to develop the VND339.7 billion project in the new residential quarter in Hoa Loc commune in Hau Loc district.

The deserted Cocobay Da Nang

When the project kicked off, the tourism and entertainment complex in Da Nang City was called a ‘super project’. However, since then, the project has made no headway and construction items have been left idle.

Empire, the developer of the project, organized a groundbreaking ceremony in June 2016 in the coastal area alongside Truong Sa Road in Hoa Hai Ward in Ngu Hanh Son district. The VND11 trillion project was expected to cover an area of 31 million hectares.

The modern tourism and entertainment complex was designed with modern items, including indoor performance stage, outdoor performance stage, tourist square, walking street and condotel accommodation system and Boutique hotel.

Some items of the project have been completed and put into operation since 2017, including condotels. However, later, the investor broke its promise about profit of 12 percent per annum.

Hanoi: land for social housing lacking

The Hanoi People’s Committee has released a report on the management and exploitation of the 20-25 percent land bank.

Under the local authorities’ Decision No123, the 20 percent land bank is used mostly to develop social housing, housing for students, for resettlement, and for land use right auctions.

After checking, the authorities discovered that there are 89 projects (181 land plots) with a total area of 87.6 hectares. Of these, 73 projects (132 land plots) have been used, and six projects (11 land plots) have been handed over to the Hanoi Land Bank Development Center or allocated to investors but have not been used. Two projects have been handed over to districts and towns (19 land plots).

Meanwhile, eight projects (19 land plots) have not been received (the site clearance is yet to be completed, or completed, but yet to be handed over).

The land plots located in advantageous positions have been used to build houses for sale, while the land with graves is allocated for social housing projects, which makes it difficult to do site clearance.

MOC: property prices drop, supply short

The Ministry of Construction reported that the downward trend in price is continuing though the market is witnessing a serious supply shortage in all market segments.

There are very few transactions in the market, and enterprises cannot access capital sources, so they have had to stop executing projects and lay off workers.

Regarding new supply, 25 commercial housing projects were completed in the first six months with 10,000 products, about 50 percent of the second half of 2022. There were 659 projects under construction, or 60.4 percent.

Meanwhile, four social housing projects were completed, which provide 934 apartments.

Bac Giang to have golf course on mountain

The Nham Bien Mountain Golf Course New Urban Area has a total land implementation area of 134 hectares, including 88 hectares for sports tourism and golf courses and 46 hectares for urban development.

The total investment capital of the project is estimated at VND6.38 trillion, including VND566 billion to be spent on site clearance.

Localities to split land plots again

Deputy chair of Ha Nam People’s Committee Nguyen Anh Chuc has signed a document approving the proposal by the Ha Nam Department of Natural Resources and the Environment on allowing the continued split of land plots owned by households and individuals, starting July 3.

In May 2023, after 20 years of suspending the land plot splitting, Lam Dong chair Tran Van Hiep signed a decision to stop the suspension.

Prior to that, the Ministry of Justice affirmed that local authorities broke the law when not allowing people to split the land.

Hong Khanh