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Cần Thơ investors must allocate social housing land

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New criteria for Cần Thơ City’s housing projects stipulate that investors must dedicate 20 per cent of their project land to social housing in certain cases, according to the city People’s Committee.

Companies wanting to invest in Cần Thơ’s urban areas must dedicate 20 per cent of their land to social housing. – Photo baocantho.com.vn

 

This new policy is applied to the projects that will be built in new urban and smart urban areas in the city.

The city’s People’s Committee said that investors must arrange for resettlement areas for local residents affected by their projects. 

The investor must also be directly responsible for building social housing unless the city decides to build social housing on its own, in that case the investors will hand over 20 per cent of their land to the city.

Investors will not be allowed to subdivide land plots for sale.

As for resettlement area projects, after construction and allocation to the affected residents within the finished resettlement area are completed, investors are required to hand over 60-70 per cent of the remaining property value in the resettlement area to the city.

The rest of the resettlement land can be used by investors for their commercial activities after they fulfill their financial obligations to the city.

 

Source: VNS

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