HA NOI (VNS)— More than 4,000 housing projects with a total area of more than 100,000 hectares were granted licences for construction in Viet Nam, said Minister of Construction Trinh Dinh Dung.
He added that the number of projects which had been granted licences in the construction sector was far higher than the real domestic demand. The country would need 15 to 20 years to complete all the projects.
He added that the construction of projects which were far from the central areas and with low sales would not be continued.
He asked localities to review property projects and decide which projects should be cancelled to meet the market demand as well as ensure sustainable development. — VNS