Vietnamese Tiếng Việt | Tuesday, August 14, 2018 | Advertise with Us
   
Text Size

Cần Thơ investors must allocate social housing land

Share
(0 votes, average 0 out of 5)

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

Maybe You Also Interesting :

» Private investors becoming more influential in retail market

For many years, the Vietnamese retail market has been the playing field of state-owned and foreign invested enterprises. However, it is now witnessing a strong...

» Vietnamese investors struggle to participate in M&A market

Though domestic investors have been more active in merger and acquisition (Mamp;A) deals, they are still lagging behind foreign peers in the potential market.

» Real estate fertile ground for foreign investors

Foreign investment in Vietnam's real estate market has proven to be fruitful in recent years.

Login