In Thu Duc district, some
projects such as Song Da River Sid in Hiep Binh Chanh ward, Green House
apartment in Linh Tay ward have come to standstill.
The Green House project was under
construction since mid-2010 by Petroleum Power Property JSC (PVL). However
after the base construction and official announcement for sale at the start of
2011, it now has come to a standstill.
BMC – Hung Long high quality
apartments project in district 7, HCM City invested by BMC Building Materials
and Construction Co (BMC) was under construction but now it has come a halt.
Quoc Cuong Gia Lai high quality
apartments in Pham Hung street (Binh Chanh district) invested by Quoc Cuong Gia
Lai Group has been constructed to storey 30 but also stopped construction for
the last few months. The same situation also took place in the Tan Phu
District, Go Vap district, District 9 and Nha Be District.
Phung Van Nang, President of Nam
Viet Real Estate Co said that it is very wasteful when a huge amount of money
being poured into these dead projects.
Not only apartment sectors but
also office for lease projects also fell into this situation. Vietnam Financial
Centre (VFC) project which was invested by Berjaya Group (Malaysia) is a
typical example. Its investments reached $930 million with the plan to build a
complicated zone with five 39-48 storey high towers in an area of 6.8 hectares.
VFC project had been offered certificate in 2008 but till now it has been in
construction yet.
Vietnam International University
Urban zone (VIUT) project with total $3.5 billion of investments from Berjaya
Group also has not been carried out.
Chair of HCM City People’s
Committee, Le Hoang Quan warned that if VFC’s investors continue to delay the
construction and investing procedures as guaranteed, HCM People’s Committee
will consider claw back its certificate. With the same situation, Tay Bac urban
zone’s board of managers has petitioned HCM City People’s Committee for
certificate repossession of VIUT’s investors with the reason of the investors’
lack of financial ability.
In a talk with baodautu.vn ‘s
reporter, Nguyen Hoai Nam, President of Berjaya Vietnam admitted that the
progress of 2 projects was slower than expected due to objective reasons and
market causes. Nam also said that in VFC project, it has paid over one trillion
dong for land clearing compensation and waited for constructing certificate.
VFC is expected to start construction at the beginning of 2013.
VietBiz24
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