The People’s Committee of Ho Chi Minh City has revoked construction licenses of 30 housing projects that have not yet taken off due to problems such as compensation or site clearance.
|An incomplete housing project in District 9 in HCMC (File Photo: SGGP)|
This decision was taken by the Department of Natural Resources and Environment and approved by Nguyen Huu Tin, deputy chairman of the People’s Committee of Ho Chi Minh City on February 19.
City authorities have also instructed district people’s committees to publicly announce the list of the revoked projects.
For projects which have no site clearance or compensation problems, but are short of capital, investors will be permitted to transfer or work with other investors to complete all construction work.
Investors can also apply to the City People’s Committee for extension of their projects and temporarily use the cleared site for other purposes, to limit costs.