On July 17, the National Assembly’s monitoring delegation worked and conducted a field survey of the real estate market and social housing development in Hoang Mai district, Hanoi, from 2015 to 2023.
National Assembly’s monitoring delegation works with leaders of Hoang Mai District People’s Committee
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At the meeting, representatives of enterprises petitioned the National Assembly’s monitoring delegation about the difficulties and obstacles in implementing real estate and social housing projects.
Mr. Nguyen Huu Cuong, Chairman of the Hanoi Real Estate Club, said that not only in Hanoi but also in the whole country, there have been obstacles and barriers regarding procedures, planning, investor selection, infrastructure investment around projects, land use fees, etc.
Sharing the same view, Mr. Nguyen Van Thanh, Director of Hanoi Construction and Investment Corporation No. 2 – Hacinco (Hanoi Housing Investment and Development Corporation – Handico) proposed streamlining investment procedures to speed up the implementation of social housing projects, ensuring progress, reducing difficulties for enterprises, and preventing clean land waste; while also stabilizing the city’s housing market.
Mr. Nguyen Viet Tao, representing Bitexco Group, proposed that the Group be allowed to implement social housing at the project of the Southern Urban Area of Ring Road 3 (commercial name: The Manor Central Park) to ensure the synchronous infrastructure of the urban area.
The Manor Central Park is part of the transportation project surrounding the memorial area of the great teacher Chu Van An, invested by Bitexco Joint Stock Company under a BT (build-transfer) contract signed with Hanoi People’s Committee in 2014.
Accordingly, the investor is entitled to recoup their investment and profit from The Manor Central Park project with a total land fund of 20.8 hectares out of the total project land area of 65.8 hectares.
The project is divided into two phases, with phase 1 developing 14.2/20.8 hectares of land and phase 2 with 6.6 hectares of high-rise apartment blocks.
However, after handing over 14.2 hectares of land to Bitexco for phase 1, Hanoi has not yet transferred the 6.6 hectares of land for phase 2, with the reason given by the city being that the 14.2 hectares of land (phase 1) transferred to the investor for low-rise housing development has exceeded the value of the BT project (project value is over VND 1,550 billion).
Also, regarding this project, on August 17, 2023, the Hanoi People’s Committee requested Bitexco to hand over to the city nearly 5.3 hectares of land before September 15, 2023.
From the investor’s perspective, Bitexco has, throughout the project’s development, sent many documents petitioning and proposing that the city soon approve the investment approval dossier (phase 2) of the project; approve Bitexco’s investment in the land plots (belonging to the fund of nearly 5.3 hectares of land that Hanoi intends to recoup) including land plot No. 18 (20% social housing land fund) in accordance with the investment approval decision No. 3021/QD-UBND; approve the investment of the company in land plot No. 13 (reserved land for BT project) and land plot 12CCV.
* [Hanoi will recoup 52,936m2 of land in The Manor Central Park project of Bitexco]
* [Bitexco speaks out on the revocation of the billion-dollar The Manor Central Park project]
* [There is a need for an audit of the BT contract payment with Bitexco in the billion-dollar The Manor Central Park project]
* [Billion-dollar projects revoked from Bitexco]
Hanoi adds about 15 new land plots for social housing
According to statistics from the People’s Committee of Hoang Mai district, there are currently 17 housing and urban projects that have been and are being implemented in the district, including Linh Dam, Dai Kim, Dinh Cong, Kim Van – Kim Lu, Den Lu I – II, and Thinh Liet urban areas. In addition, there are many apartment buildings that have been and are being invested in, such as The Manor Central Park, Phap Van – Tu Hiep urban area, Hateco Yen So, Gamuda City, Rose Town 79 Ngoc Hoi, Feliz Home, etc.; along with existing village residential areas.
In the period from 2015 to 2023, Hoang Mai district had 109 apartment buildings put into use, including 87 commercial apartments, 14 resettlement apartments, and 8 social housing apartments, partially meeting the housing needs of the people. In addition, there are housing projects that will be implemented according to the approved planning.
Regarding the status of social housing, there are 26 projects in the district, including 3 completed social housing projects with 91,183 square meters of floor area and 7 ongoing social housing projects with 330,548 square meters of floor area.
The land plot that has been cleared and belongs to the 20% and 25% land fund for building resettlement housing and social housing that investors must hand over to the city includes 1 project with 138,054 square meters of floor area. The land plot that has not been cleared and belongs to the land fund for building resettlement housing in the form of ordering (now there is no demand), which has been switched to building social housing, includes 4 projects with more than 1.2 million square meters of floor area.
Regarding the development of social housing in Hanoi, there have been 30 completed projects and 58 ongoing projects; 60,480 apartments and 83 land plots with a total area of about 43.6 hectares in 48 commercial housing and urban projects must be reserved for 20% and 25% of the land fund for social housing construction as prescribed.
In addition, Hanoi has inspected and supplemented about 15 new large-scale land plots to invest in concentrated social housing projects with synchronous technical infrastructure and social infrastructure (about 2,000 apartments/area); among them, 2-3 land plots are planned for worker housing construction near industrial parks.
[Thanh Tu]
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