According to the announcement released last weekend, this afternoon, Mr. Bui Xuan Cuong, Vice Chairman of the Ho Chi Minh City People's Committee, will chair a meeting with relevant departments and agencies to directly meet with 6 investors to listen and consider removing obstacles for 7 projects facing difficulties in Ho Chi Minh City.

Seven projects will be discussed at the meeting of Ho Chi Minh City leaders with six enterprises on February 20, including: the commercial center and luxury apartment project on Ben Nghe Street - Tan Thuan Dong Ward, District 7; the Tan Thang Sports and Residential Complex project - Son Ky Ward, Tan Phu District; the Cuu Long apartment project - No. 1 Ton That Thuyet, Ward 1, District 4; the Song Viet complex project on lot 1-7, Thu Thiem new urban area - Thu Duc City; the Thien Ly residential area project - Phuoc Long B Ward, Thu Duc City; the 30.2 ha project in Binh Khanh Ward, Thu Duc City and the Co Giang apartment project - Co Giang Ward, District 1.

The problems of the projects have been proposed and resolved by investors and the Ho Chi Minh City Real Estate Association (HoREA) for many years but have not been resolved.

According to the investigation of the reporter of Nguoi Lao Dong Newspaper, the project of Commercial Center and Luxury Apartment on Ben Nghe Street, Tan Thuan Dong Ward, District 7 is invested by Gotec Vietnam Company Limited (Gotec). At the end of 2022, Gotec sent a petition to the Government, central ministries, and Ho Chi Minh City "accusing" the leaders of the Department of Construction of delaying the issuance of a license to qualify for the project's opening sale according to regulations, even though the company had completed all procedures and project implementation licenses and completed the foundation, basement, and first floor, and was continuing to construct the next floors according to the plan, and had met the conditions to be granted a "Notice of housing eligible for sale, lease-purchase for commercial housing. But after 3 attempts to supplement and complete the documents, the Department of Construction still refused and returned the documents, with the reason that "Ho Chi Minh City People's Committee has opinions on the review content of the Department of Natural Resources and Environment, the Department of Construction will consider implementing the procedure to confirm eligibility to sell future housing of the project according to the law."

The Song Viet Complex Project at Lot 1-7, Thu Thiem New Urban Area, Thu Duc City, is invested by Quoc Loc Phat Company (a member of Son Kim Land). The project has a scale of 4.8 hectares, and is stuck in the stage of granting a certificate of eligibility to sell and lease-purchase future housing for the project. The reason is due to the general planning of Thu Thiem New Urban Area, not the fault of the investor.

Some problems of related projects in Thu Thiem New Urban Area

Tan Thang Sports and Residential Complex Project, Son Ky Ward, Tan Phu District, of the investor Gamuda Land Vietnam Company (Gamuda Land). According to the investor's representative, the main problem and many other problems are the tax calculation, up to now it has been more than 540 billion VND. Gamuda Land proposed that the Ho Chi Minh City People's Committee refund 514 billion VND (deducted from the project land use fee) spent on compensation and site clearance for 34.6 hectares of traffic land, trees, and water surface because this land area serves public purposes.

According to research, this project initially had an area of ​​over 90.08 hectares. The old investor, Sacomreal Company, transferred the legal entity to Saigon Thuong Tin Tan Thang Real Estate Investment Joint Stock Company (Thuong Tin Tan Thang Company owned by Gamuda Land) and was approved by the Ho Chi Minh City People's Committee to adjust the area to 82.5 hectares, the remaining area of ​​over 8 hectares is a green park.

According to Gamuda Land, when buying back the shares, the old investor said that they would be exempted from taxes and they would only pay the recognized portion. However, the city later required the new investor to pay more than VND400 billion in taxes. According to relevant departments, Gamuda Land did not directly pay compensation and resettlement support but only bought back the shares, so compensation and resettlement costs could not be deducted from land use fees and project land rents. Due to not agreeing to pay taxes, the project has been delayed for a long time, and Gamuda Land was listed as owing more than VND541 billion in taxes (including interest and principal).

The 30.2-hectare project in Binh Khanh Ward, Thu Duc City and the Co Giang Apartment Project in Co Giang Ward, District 1 are invested by No Va Real Estate Investment Joint Stock Company (Novaland).

Specifically, the Co Giang Apartment Project with an area of ​​14,000m2 was assigned land by the Ho Chi Minh City People's Committee, the Department of Construction granted a construction permit and started construction of the 28th floor, but encountered problems in the process of granting an investment certificate and enjoying incentives of exemption from land use fees for the entire allocated land area. Because this is a project to renovate and rebuild old apartment buildings, the investor must compensate for additional common use areas.

The 30.2-hectare project in Binh Khanh Ward, Thu Duc City has a scale of more than 4,200 apartments. The project is stuck with the regulation that the State must reclaim land through auctioning interspersed land.

The entanglement causes the project investment procedures to be prolonged, the project to be stalled, causing waste of land resources, and the state must arrange more money to repay the costs that investors have invested in building resettlement projects...