On November 25th, the Ho Chi Minh City Specific Land Price Appraisal Council announced that the Lotus Residences project by Anh Tuan Group has received a financial obligation notice for the entire project scale, amounting to over 500 billion VND. This signifies that the Lotus Residences project has had all legal obstacles removed by the Ho Chi Minh City People’s Committee. Additionally, Anh Tuan Group’s project in Phu Thuan Ward (former District 7) has been granted an investment policy extension.
The Lotus Residences project has had all legal obstacles removed by the Ho Chi Minh City People’s Committee.
“This decision is pivotal, paving the way for residents to receive property ownership certificates in 2026. In a market where the Southern Saigon area still faces limited supply, Lotus Residences stands out as one of the few projects with fully completed legal procedures,” said a representative from Anh Tuan Group.
At the Lotus Residences construction site, work is accelerating daily. Many townhouse rows have entered the exterior finishing stage, and internal infrastructure is nearly complete, presenting a neat appearance ready for the first residents to move in during Q1/2026. The developer plans to hand over pink books to residents in Q4/2026 once all legal procedures are finalized.
Lotus Residences is planned as a townhouse and commercial townhouse area in the central location of Phu Thuan Ward, offering excellent connectivity within the Southern Saigon development axis. The project is developed by Anh Tuan Group.
In addition to Lotus Residences, the Ho Chi Minh City Department of Agriculture and Environment has also resolved obstacles for key projects. The department has submitted land price appraisals for the re-determination of land prices for the 30.1-hectare Nam Rach Chiec project (commercially known as Lakeview City). Subsequently, the Ho Chi Minh City Land Price Appraisal Council held a meeting and finalized the land price scheme.
The land use levy to be paid for the Lakeview City project, initially set at nearly 5,176 billion VND based on the tax authority’s notice dated January 8, 2021, will be re-determined.
Specifically, for the land swap area corresponding to the amount the investor has invested in the 30.2-hectare Binh Khanh Ward land (compensation, support, and construction costs already audited and appraised), the land price determination time is the time when the land recovery and compensation for the 30.2-hectare Binh Khanh Ward land were completed, which was in 2008.
For the land area that has not yet paid land use fees, the land price determination time is when the competent state agency issued the decision to allocate the 30.1-hectare Nam Rach Chiec land, which was in 2017.
Besides Lakeview City, for projects resolved under Resolution 170, the Ho Chi Minh City Department of Agriculture and Environment has submitted land price appraisals for the re-determination of land prices for the 1,330-apartment project in Binh Khanh Ward (commercially known as New City).
The New City Thu Thiem project was converted from resettlement housing to commercial housing in the 38-hectare Thu Thiem resettlement area. Thuan Viet Company is one of the contractors building 1,330 resettlement apartments in the project. When the resettlement demand in the project was no longer needed, Thuan Viet Company requested the Ho Chi Minh City People’s Committee to offset the construction cost with the number of resettlement apartments and convert them to commercial housing.
The New City Thu Thiem project was converted from resettlement housing to commercial housing in the 38-hectare Thu Thiem resettlement area.
For the 39 – 39B Ben Van Don project in former District 4, the Ho Chi Minh City Department of Agriculture and Environment has advised the Ho Chi Minh City People’s Court to expedite the trial to establish a legal basis for issuing property ownership certificates to homebuyers.
The Ho Chi Minh City Department of Agriculture and Environment has also completed the preparation and submission of land price schemes for three major BT projects, including four main roads in the new Thu Thiem Urban Area, Thu Thiem 2 Bridge, and infrastructure for the Northern Residential Area.
The Ho Chi Minh City Department of Agriculture and Environment is also urgently implementing the announcement of bidding information to select a consulting unit for the re-determination of land prices for 37/53 land and property bases. Ho Chi Minh City prioritizes completing procedures to auction three land plots in the new Thu Thiem Urban Area (including 1-2, 1-3, 3-5) and 3,790 resettlement apartments in Binh Khanh. Simultaneously, the city is accelerating the auction process for seven other land plots expected in the final months of the year, with a total expected revenue of 23,192 billion VND.
Unlocking Land Valuation Challenges: Ho Chi Minh City Resolves Pricing Issues for Lakeview City and New City Projects
The Ho Chi Minh City Department of Agriculture and Rural Development has submitted for appraisal the re-evaluation of land prices for the Lakeview City project and the 1.330-unit New City residential development. The Ho Chi Minh City Land Price Appraisal Council has also convened a meeting to reassess these valuations.
