Four Delayed HCMC Projects Unblocked for Development
Four long-stalled real estate projects in Ho Chi Minh City (HCMC) have been unblocked under Resolution 170, addressing land valuation disputes that hindered their progress. These projects, developed by Novaland, faced years of legal uncertainty, delaying property handovers and ownership certificates (sį» hį»ng) for residents.
With new legal clarifications, developers can finalize land payments, resume construction, and issue ownership titles, marking a significant step in resolving HCMCās real estate backlog.
Table of Contents
The Water Bay & Lakeview City: Novalandās Key Projects
Lakeview City (30.1 ha ā Thį»§ Äį»©c City)
- Developer: Novaland
- Units: 960 villas & townhouses
- Issue: Dispute over land use fee valuation (2008 vs. 2017).
- Resolution: Land valuation is set based on the official land allocation date (April 18, 2017), allowing Novaland to finalize payments and residents to receive ownership certificates.
The Water Bay (30.2 ha ā BƬnh KhĆ”nh)
- Originally a resettlement area, later converted into a commercial housing project.
- 12 residential blocks with 5,000 apartments, 3,000 officetels, and 250 shophouses.
- Issue: Delayed land valuation and land use fee settlement since 2008.
- Resolution: Land valuation set at November 20, 2008, enabling Novaland to finalize land payments and continue the next construction phase.
The Tresor: Legal Disputes Resolved
- Location: 39-39B Bįŗæn VĆ¢n Äį»n, District 4
- Developer: Nova PhĆŗc NguyĆŖn
- Description: Mixed-use project with commercial, residential, and office-tel spaces.
- Issue: State-owned land misuse case, preventing the issuance of ownership titles.
- Resolution: Based on Inspection Report 757 (May 13, 2021), developers must resolve financial obligations before proceeding with legal ownership transfers for residents.
New City: Resettlement Project Converted to Housing
- Location: 38.4 ha, BƬnh KhĆ”nh, Thį»§ Äį»©c City
- Developer: Thuįŗn Viį»t
- Issue: Originally a 1,330-unit resettlement project, later converted to commercial housing, but land fees remained unsettled.
- Resolution:
- For prepaid land use fees, land pricing is based on March 30, 2018.
- For outstanding land fees, valuation is set at December 11, 2020.
- This allows for final tax settlements and ownership title issuance.
The Impact of Resolution 170 on HCMCās Real Estate Market
With these four projects cleared, HCMC is taking a major step toward unlocking frozen assets in the real estate sector. The move benefits:
- Homebuyers: Thousands of residents can finally receive ownership titles.
- Developers: Can resume construction and monetize completed properties.
- Government: Recovers billions in land use fees and taxes.
As Vietnam continues to refine real estate regulations, more stalled projects may soon be reactivated, improving market liquidity and investor confidence.
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