The Ho Chi Minh City People’s Committee has just proposed that the Ministry of Justice and Construction provide clear guidance on issues related to the subdivision and sale of land with technical infrastructure at projects in communes, towns and districts.

In this proposal, the Ho Chi Minh City People’s Committee said that according to the provisions of the Law on Real Estate Business 2023 (effective from August 1), land with technical infrastructure in real estate projects that are allowed to be transferred to individuals for self-construction of houses (abbreviated as subdivision and sale of land) must be land not located in wards, districts, or cities of special, type I, type II, and type III urban areas.

In addition, that land is not subject to auction of land use rights for investment in housing construction projects according to the provisions of the Land Law.

 Part of real estate in Nha Be district, August 2022. Photo: Quynh Tran

For the remaining areas, based on local conditions, the Provincial People’s Committee will determine the areas where projects can be established in the form of dividing land into plots and selling them to individuals to build their own houses.

According to the Ho Chi Minh City People’s Committee, the city is now a special urban area, including all districts and affiliated counties. Based on the provisions of the Law on Real Estate Business 2023, wards, districts, and cities in Ho Chi Minh City will not be allowed to establish real estate projects to divide land into plots for sale. However, whether the remaining communes, towns, and districts of Ho Chi Minh City are considered “remaining areas” under the decision-making authority of the City People’s Committee or not.

On that basis, the Ho Chi Minh City People’s Committee proposed that the Ministry of Justice and Construction provide clear instructions for the city to comply with the provisions of the 2023 Law on Real Estate Business.

Administratively, Ho Chi Minh City currently has 22 districts and one city. Of which, there are 5 suburban districts: Binh Chanh, Nha Be, Hoc Mon, Cu Chi and Can Gio with 5 towns and 58 communes. This is still considered the “rural” area of ​​Ho Chi Minh City.

Previously, according to the provisions of the 2014 Law on Real Estate Business, investors in housing construction projects for sale were allowed to transfer land use rights in the form of dividing plots and selling land in areas not located in wards of special-class urban areas and centrally-run type I urban areas.

Accordingly, cases where land plots are not allowed to be divided into very narrow areas are only in the central area and around architectural highlights in the urban area; frontage of regional-level roads and above and main landscape roads in the urban area.

The 2023 Law on Real Estate Business has narrowed the scope of areas permitted to transfer land use rights in the form of subdivision and sale of land plots, as it must ensure that the land is not located in wards, districts, or cities of special-class, class I, class II, and class III urban areas…

Source: Vnexpress.net

The post Ho Chi Minh City requests guidance on dividing land into plots for sale in suburban districts appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

Co May 3 Bridge will be located on the road connecting Vung Tau city with Bien Hoa – Vung Tau expressway, one of the main routes of the Southeast region. This is a key location in connecting Vung Tau port city  with  key areas such as Phu My industrial park, Cai Mep – Thi Vai port system, etc.

Specifically, the 15.7km Bien Hoa – Vung Tau expressway connecting road is divided into 3 component projects with a total investment of up to 18,000 billion VND. Co May 3 Bridge belongs to the second component project crossing salt fields, aquaculture ponds and swamps. Cua Lap Bridge and Coastal Road are expected to connect with Co May 3 Bridge leading to the center of Vung Tau City.

The total investment of Co May 3 Bridge project is expected to be up to 1,200 billion VND, allocated for items such as site clearance, bridge construction, access road system and other auxiliary works. The starting point of the bridge is located in Long Dien district (Ba Ria – Vung Tau province).

The bridge is about 500 m long. The cross-section of the bridge is about 25-30 m wide, enough for 4 lanes. The bridge section on the highway is designed for a speed of 100 km/h, the parallel road section is designed for a speed of 60 km/h. The photo above is a perspective of Co May 3 bridge.

The bridge is also designed to withstand heavy loads, meeting the transportation needs of heavy vehicles serving industrial parks and seaports in the region.

Site clearance is one of the major challenges of the project. The area to be cleared is estimated to be tens of hectares, affecting hundreds of households and a number of public works.

When completed, the project will reduce the load on the current Co May bridge and surrounding roads, minimizing traffic congestion, especially during holidays and Tet when the number of tourists to Vung Tau increases. Pictured is the existing Co May bridge.

In addition, Co May 3 Bridge is expected to create a strong boost for the local economy, especially the industrial, seaport and tourism sectors. Shortening travel time and enhancing connectivity with major economic centers will create favorable conditions for investors and businesses.

The project is expected to take about 36-48 months to complete, depending on the progress of site clearance and actual construction conditions. The bridge is expected to be operational by the end of 2027, becoming one of the largest and most modern bridges in Ba Ria – Vung Tau province. The photo shows the coastal road expected to connect to Co May 3 bridge.

The Co May 3 Bridge project promises to become one of the strategic transport infrastructure projects, contributing significantly to shaping the future development of Vung Tau city and the key economic region of the South.

Ba Ria – Vung Tau province owns over 100,000 km2 of continental shelf with reserves of about 400 million m3 of oil (accounting for 93.29% of the country’s reserves) and about 100 billion m3 of gas (accounting for 16.2% of the country’s reserves). This place is home to many companies and factories serving the oil and gas industry, with the center being Vung Tau city.

Source: Cafef.vn

The post Ba Ria – Vung Tau: The area will build a 1,200 billion VND bridge, connecting the oil and gas capital with the 18,000 billion VND highway. appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

On the morning of August 14, Di An City held an inauguration ceremony and put into operation the East-West main road. This is a project that helps connect Dong Nai and Binh Duong with key projects such as the new Eastern Bus Station and the Ben Thanh – Suoi Tien metro line in Ho Chi Minh City.

The East-West main road project, starting from National Highway 1 (Binh Duong) through the University Village Belt (Ho Chi Minh City National University urban area) to Hanoi Highway and ending directly to the new Eastern Bus Station of Ho Chi Minh City. The project started in March 2021, with a total investment of nearly 730 billion VND; of which compensation, support and resettlement costs are nearly 536 billion VND; construction costs are more than 139 billion VND…

The route is over 3 km long; the roadbed width is up to 32 m, with 6 lanes, and a complete rainwater drainage, tree, and lighting system.

From above, although the project has been completed, there is still a 50m gap that has not been cleared, which not only makes it impossible to connect to Hanoi Highway but also affects the urban beauty.

50m not connected to National Highway 1K due to Hanoi Highway expansion project

Regarding this issue, Mr. Vo Trong Tai, Vice Chairman of Di An City People’s Committee, speaking to the press, said that the East-West main road project was completed on schedule and within the approved project scope. “The 50m cannot be connected to Hanoi Highway because this land is part of the Hanoi Highway expansion project invested by Ho Chi Minh City People’s Committee,” Mr. Tai explained.

According to Mr. Tai, the 50m section of the Hanoi Highway expansion has been transferred by Ho Chi Minh City to the People’s Committee of Binh Duong province and the province has agreed to adjust the project, allowing Di An city to build the remaining 50m, instead of waiting for the Hanoi Highway expansion project.

“Di An City authorities are reviewing the land clearance compensation records of the Hanoi Highway expansion project. In cases where compensation money and land have been received, but assets have not yet been compensated, the locality will compensate the assets. In cases where land compensation has not been received, compensation will be made according to the current land price frame,” said Mr. Tai.

The estimated compensation for site clearance and construction is about 100 billion VND. There are currently more than 30 related cases that need compensation for assets and land of about 1.4 hectares. According to the plan, by September Di An City will complete site clearance, and by the end of this year the route will be open to National Highway 1, through the new Eastern Bus Station.

Source: Cafef.vn

The post Inauguration of 6-lane road connecting Binh Duong, Dong Nai with Ho Chi Minh City appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

According to statistics from the State Bank of Vietnam (SBV), the Ministry of Construction said that as of May 31, 2024, outstanding credit for real estate business activities reached more than 1.2 million billion VND.

Specifically, outstanding credit for urban area construction investment projects and housing development projects reached VND318,799 billion.

Meanwhile, outstanding credit for office leasing projects reached VND44,080 billion; outstanding credit for industrial park and export processing zone construction projects reached VND86,330 billion.

For tourism, ecological and resort projects, outstanding credit balance reached VND49,127 billion.

Restaurant and hotel projects have outstanding credit balance of VND 61,483 billion. For loans for construction and repair of houses for sale and rent, outstanding credit balance reached VND 126,794 billion.

Outstanding credit balance for loans to purchase land use rights reached VND94,402 billion.

For other real estate business investments, this figure reached 424,422 billion VND. The balance of guarantees for future housing is 14,406 billion VND.

According to the Report of the State Bank of Vietnam, in June alone, the second quarter of 2024, credit growth reached 3.6%, higher than the credit growth rate of the first 5 months combined.

The banking sector has fulfilled the target assigned by the Government. However, the main lending sector of credit growth, real estate, has decreased sharply recently, the demand for loans from businesses as well as people has shown signs of slowing down, despite the context of housing prices currently “anchored” at a high level but not many actual transactions.

One of the reasons for this situation is that housing prices are currently at a large gap compared to people’s incomes. This trend continues despite the difficult economic situation and the fact that workers’ incomes are showing no signs of recovery.

The State Bank of Vietnam has been closely monitoring developments and the macroeconomic situation, following the Government’s direction.

Along with that, the State Bank also focuses on building and perfecting institutions and policies; improving effectiveness and efficiency in deployment and implementation; and complying with the direction of the Government and the Prime Minister.

The pressure of bond maturity is still considered a heavy responsibility for businesses. Photo: Internet

The Ministry of Construction also recommended that the State Bank focus on directing major state-owned commercial banks to conduct research, develop and provide credit packages for social housing buyers with loan terms of 10-15 years, preferential interest rates 3-5% lower than normal commercial loans so that low-income people and workers in industrial parks have more opportunities and motivation to buy houses.

Regarding the issuance of bonds in the real estate sector, the Ministry of Construction cited data compiled by VBMA from HNX and SSC showing that since the beginning of the year, there have been 102 private issuances worth VND104,109 billion and 10 public issuances worth VND11,378 billion.

Statistics show that the real estate industry still dominates capital mobilization activities from the bond channel.

Assessment reports from a number of bond market research organizations in the second quarter of 2024 show that real estate bonds have tended to increase issuance again, and businesses have reduced maturity pressure compared to the previous quarter.

Specifically, in April 2024, the issuance value of the real estate industry group dominated capital mobilization activities from the bond channel, accounting for 56% of the total issuance value in the month.

In May 2024, the real estate sector issued bonds including the following enterprises: Vingroup Joint Stock Company (stock code:  VIC ) had 2 final offerings raising an additional 4,000 billion VND; Vinhomes Joint Stock Company also completed the plan after selling an additional 2,000 billion VND bond lot; Hoang Truc My Company Limited sold a bond lot worth 200 billion VND; IDTT Joint Stock Company (formerly Thu Thua IDICO Industrial Park and Urban Development Joint Stock Company – CONAC) raised 200 billion VND;

In June 2024, businesses issued a total of 62 bond lots and collected VND 68,000 billion (doubled compared to the same period in 2023); the construction/real estate industry group mobilized about VND 8,000 billion, accounting for 12%.

Statistics in the second quarter of 2024 show a bright outlook for bond issuance by some real estate businesses, giving more stable expectations for an important capital mobilization channel of the real estate industry.

Despite positive signs, the pressure of maturing bonds is still considered a heavy responsibility for businesses to regain the trust of investors in the corporate bond market in general and real estate corporate bonds in particular, ensuring healthy and stable development in the future.

Source: Người Quan Sát.

The post Real estate market ‘poured’ more than 1.2 million billion VND appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).

To increase the role of a traffic hub and the connectivity between Binh Duong and Ho Chi Minh City, Thuan An City plans to build three more bridges over the Saigon River. In addition to the existing Phu Long Bridge and Binh Goi Bridge on Ring Road 3 through Cu Chi District, Thuan An will add a bridge on Cau Tau Road (Hung Dinh Ward) connecting Hoc Mon District; Vinh Phu Bridge (VP09 Road) connecting District 12, and restore Lai Thieu Iron Bridge into a landscape architecture bridge.

A corner of Thuan An City. Photo: Baobinhduong

A series of main routes in the city and routes connecting neighboring localities are also expected to be upgraded with road widths from 32 to 54 meters. The province plans a number of routes parallel to the main urban roads such as Binh Duong Boulevard, My Phuoc – Tan Van Road and DT743a, DT743b to share traffic volume, with road widths from 22-30 meters.

According to the approved plan, Thuan An will renovate and improve many areas with an area of ​​about 2,000 hectares. The locality focuses on upgrading technical infrastructure, prioritizing projects towards increasing land fund for social infrastructure development such as kindergartens, green parks, etc.

For traditional urban areas such as the center of Lai Thieu ward, which is about 99.72 hectares wide, and the area around Bung market, which is about 8.39 hectares wide, the province said it will renovate and embellish them in the direction of preserving tangible and intangible cultural identities. This area will also build commercial models, services, restaurants, hotels, walking streets, night streets… to serve tourism associated with the Lai Thieu fruit garden area.

The planning also identifies a mixed-use land corridor (or converted land) of about 1,154 hectares on main traffic axes that will be prioritized for conversion to develop multifunctional projects such as services – urban areas, high-quality housing, education and training…

National Highway 13 through Thuan An. Photo: Pham Nhat Phuc

In addition, 260 hectares of land along the Saigon River and both sides of Ring Road III currently have no roads built, there is still a large agricultural land fund, and low construction density. This area is identified as the location for entertainment complexes, tourism, hotels, restaurants, high-quality apartments, condotels and other urban service works. The province wants to form high-quality service centers around passenger terminals on the Saigon River, with traffic connections to the surrounding areas.

659 hectares of land in An Son, An Thanh and Hung Dinh are planned to become an urban fruit garden area with a model of combining housing with homestays with high-quality fruit gardens for tourism. Mixed land on main axes with urban railways such as: Binh Duong Boulevard allows construction of a maximum height of 60 floors; My Phuoc – Tan Van road and Ho Chi Minh City – Chon Thanh highway allow a maximum height of 50 floors.

To soon become a type I city, Thuan An will build many new projects and works for socio-economic development. Some outstanding projects proposed by the province include the Saigon River embankment from Vinh Phu to the border of Thu Dau Mot; a new general hospital; investment in urban parks in Binh Hoa and Binh Chuan wards; and a railway line from An Binh to Bau Bang station. Dong An and Viet Huong industrial parks will be converted into commercial and service areas.

Thuan An was recognized as a city in 2020. This urban area is located in an important position as a gateway connecting other localities of Binh Duong with Ho Chi Minh City. Thuan An borders Di An City to the East, District 12 and Hoc Mon District across the Saigon River to the West, Thu Duc City to the South, Thu Dau Mot City and Tan Uyen City to the North.

Source: Vnexpress.net

The post Binh Duong announces planning for Thuan An city until 2040 appeared first on Phat Dat Corporation Real estate Development (HoSE: PDR).