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Conversion of commercial houses to be announced

Update: April, 11/2013 - 11:31
The conversion of commercial housing projects into houses sold to low-income earners will be publicized.— Photo cafeland

HA NOI – The conversion of commercial housing projects into houses sold to low-income earners will be publicized, director of the Ha Noi Department of Construction Nguyen The Hung said.

The city only allowed the transformation of projects, which have not mobilized capital, and projects of which capital contributors agreed to be converted, he affirmed.

Responding to people's concern that the conversion will probably cause an overload for urban infrastructure of the designed area, Hung said that before granting conversion licences to the projects, officials of the department and the Planning and Architecture Department will work together to review the project planning, ensuring the safety and convenience for residents.

The city's People's Committee has permitted the conversion of three commercial projects into low-income projects to reduce the stockpile in the real estate market. These include the Trung Van housing area in Tu Liem District, the 35-floor building in Song Da, the urban area in Ha Dong District and the AZ Thang Long Ha Noi residential complexes.

After converted, each apartment will have an area between 40 and 70 square metres and be sold at VND15 million (US$714) per square metre. – VNS





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