Authorities in HCM City tighten oversight while granting conditional extensions for slow moving developments. — Photo thesaigontimes.vn

HCM CITY — HCM City authorities have issued a series of decisions on land allocation, lease, and project timeline extensions, aiming to improve land use efficiency and strengthen oversight of delayed developments.

A notable case involves Long Hải Ecotourism Joint Stock Company, which has been granted a 24-month extension to continue implementing its Long Hải tourism project on more than 2.8 hectares of land in Long Hải Commune.

The delay stems from prolonged slow progress compared to commitments made under the investment project approved in 2009 and adjusted in 2010.

Under the 2024 Land Law, such extensions come with additional financial obligations and stricter supervision.

If the land is not put into use by the end of the extension period, authorities will reclaim it without compensation for land, attached assets, or remaining investment costs.

The Department of Agriculture and Environment has been tasked with strengthening inspections and coordinating with tax agencies to ensure full compliance with financial requirements.

At the same time, the city continues to prioritise land allocation for public infrastructure. More than three hectares at 2 to 4 Lê Đại Hành Street in Phú Thọ Ward have been allocated to the city's Sports Training and Competition Centre for the development of sports facilities.

The land will be used on a long-term basis under no-land-use-fee allocation scheme, with relevant agencies responsible for issuing land use right certificates and updating cadastral records.

Meanwhile, adjustments have been made to a nearly 1.7 hectare site in Phú Mỹ Ward managed by Power Generation Corporation No.3 for the Phú Mỹ Power Plant No.4.

The revised decision reclassifies the land as urban residential land for the construction of official housing, while converting its usage form from allocated land with fees to annual land lease payments, in line with legal regulations and the enterprise’s equitisation plan.

In another move, the city has approved the lease of more than 28.6 hectares of industrial land in Nghĩa Thành Commune to Sonadezi Châu Đức Joint Stock Company for the Châu Đức Industrial Park project.

The land lease will remain valid until October 2058, with annual rental payments and a 17-year exemption under investment incentive policies for areas with difficult socio economic conditions.

Authorities have been assigned to define site boundaries, hand over land on site, grant land use certificates, and monitor land use throughout project implementation.

Investors are required to use land for the correct purposes, comply with environmental and land regulations, and fulfil financial obligations after the rent exemption period. — VNS