Unfinished real estate projects cause waste

In Ho Chi Minh City, when traveling along Nguyen Huu Tho Street (from Ho Chi Minh City to Nha Be District), you will see a luxury apartment project that has been "frozen" after many years of implementation.

This is a resettlement housing project combined with business in Subdivision 11b Nguyen Huu Tho Street, with the commercial name Park Vista, with a scale of 680 apartments, invested by Dong Mekong Construction Production Trading Service Company Limited.

Since 2016, the investor has opened the project for sale and is expected to hand over the houses in 2019.However, in 2020, when the project had just completed the rough construction, the Ho Chi Minh City inspection agency determined that the investor had committed many violations from the time of investment preparation to project implementation.After that, the project stopped construction and "frozen" until now.This affects the rights of home buyers, because since 2016, many customers have paid for apartments to Dong Mekong Company as agreed in the sales contract.

Customers who have purchased the project said that in many meetings with customers afterwards, Dong Mekong Company promised to resume construction but time and time again it still did not do so.

Or the case of the Dream Home Riverside project (Ward 7, District 8) invested by Ly Khuong Production and Trade Company Limited.The project is built on a land area of ​​24,149.9 m2, construction density of 41.37%, the project scale includes 25 floors and 1 basement with ³ main apartment towers.

At the end of May 2023, the Ho Chi Minh City People's Committee adjusted the project's implementation progress by 15 months.The investor had committed to handing over apartments to customers in August 2024.However, until now, nothing has changed.Customers who bought houses here still do not know when they will receive their houses.Fearing that they will lose their capital due to having to wait too long, many customers who bought houses in the project continuously advertised and transferred their apartments at the original price, even accepting a loss of 5-10% without success.

These are just two of dozens of housing projects that have been started and then abandoned for a long time in the Southern region as well as across the country.The reasons for each project being inactive are also different.Many projects were under construction but were abandoned due to violations.For many other projects, the authorities had to intervene to find a way out, but there is no answer as to when the rights of home buyers in these projects will be guaranteed.

In that context, to combat the waste of land resources, recently, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai had to issue a document directing departments, branches, chairmen of the People's Committees of districts, Thu Duc City, directors of construction investment project management boards to be responsible for urgently reviewing and making statistics of all projects, backlogs, construction works; headquarters, offices that are not in use or are not used effectively within the scope and management area.

At the same time, proactively find solutions to completely resolve problems and problems, arrange and mobilize resources to quickly implement the above projects, put them into use to combat waste and loss.