HCMC APPROVES 28 MORE LAND PLOTS FOR HOUSING DEVELOPMENTS

Aerial view of residential projects in HCMC – PHOTO: VIET DUNG

HCMC – HCMC has approved 28 out of 30 proposed land plots for pilot housing developments, covering a combined area of more than 750,600 square meters, according to a newly adopted resolution.

The approved sites are spread across multiple wards and communes, with a strong concentration in the city’s southern and eastern areas.

In Phu Thuan Ward, four projects have been included: the Tan Phong commercial condo project, the New Sun mixed-use condo complex, the Phu My high-rise condo project, and the Lux Star development.

Hiep Binh Ward also has four approved projects, comprising the Thu Duc high-rise mixed-use housing project, Opal Riverview residential area, a high-rise condo project on Street 27, and the Cienco 60 Complex.

Three land plots in Tan Thuan Ward are earmarked for development, including the Thanh Yen mixed-use complex, the Thien Ha complex, and a commercial housing and services complex in Tan Thuan Dong.

In the western part of the city, the approved projects include the Tan Kien high-rise commercial and service apartment complex in Tan Nhut Commune, the Hoang Long residential area in Ba Diem Commune, and the Yen Phuong housing project in Xuan Thoi Son Commune.

Other projects include a housing development on a 29,000-square-meter site in Thu Duc Ward, the Opal City project in Phuoc Long Ward, a commercial-service and apartment complex in Cat Lai Ward, and the Lang Toi housing project in An Khanh Ward. Additional wards with one approved land plot each are Cat Lai, Phu Thanh, Tang Nhon Phu, Long Phuoc, An Lac, Linh Xuan, and Tan Hung.

City authorities require the pilot projects to be implemented in a transparent and efficient manner, ensuring feasibility and adherence to approved timelines, particularly in areas registering multiple developments.

With the addition of these 28 sites, HCMC now has 182 land plots designated for pilot housing projects, totaling nearly 14.2 million square meters. The move is expected to help increase housing supply and ease land-related bottlenecks in the property market.

The city said it will continue reviewing eligible land plots for inclusion in the pilot program to provide clearer legal grounds for developers to roll out commercial housing projects.

The initiative is implemented under the National Assembly’s Resolution 71, which allows commercial housing investment through agreements on land-use rights or on land already held by investors. The resolution also broadens the scope for land-use right transfers and land-use purpose conversion, provided they align with local planning and housing development plans.

Source: The Saigon Times