E.Reatimes Policy

HCMC sets prices, rents for 1080 resettlement condos in Thu Thiem

Source: Saigontimes

Thứ Ba, 12/02/2019 - 19:00

The government of Ho Chi Minh City (HCMC) has recently decided to sell 1,080 condos in the 38.4-hectare resettlement zone of Thu Thiem new urban area project in Binh Khanh Ward, District 2, at a price 1.8 times higher than that offered to residents affected by the project, reported newspaper Saigon Giai Phong.

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These condos are part of a plan to build 12,500 resettlement ones for the Thu Thiem project.

Earlier, as proposed by HCMC’s Department of Finance, the city government had asked for approval of the municipal Party Committee for the selling price of these 1,080 resettlement condos, which will not include the costs of infrastructure projects or the loan interest after compensating local residents affected by the project and handing over land to investors

The HCMC’s Department of Finance has been assigned to coordinate with the Management Board of Thu Thiem Urban Area and other relevant agencies to propose the starting price for five land lots, which are part of the Thu Thiem project in Binh Khanh Ward since the city intends to put them up for auction.

In order to ensure the effectiveness of the auction and compliance with current laws, the starting price will not include value-added tax.