A real estate project in downtown HCM City has been stalled since late 2022 after the arrest of Trương Mỹ Lan, former chairwoman of property developer Vạn Thịnh Phát group. — VNS Photo Bồ Xuân Hiệp

HCM CITY — HCM City authorities are calling for a review of ongoing real estate projects in the city to reclaim land from those that are either delayed or non-compliant.

Speaking at a recent meeting, Nguyễn Văn Được, chairman of the municipal People’s Committee, said any projects failing to meet regulations will be revoked.

"The initiative aims to ensure better management of housing developments and prevent land misuse," he noted.

City officials are also stressing the importance of adhering to fire prevention regulations and safety inspections of real estate developments. 

City police are urged to increase inspections and act on violations, especially in projects where residents have moved in but don't meet fire safety standards. 

Any projects that have not completed inspection processes will not be permitted to open or be handed over to residents.

Projects violating construction regulations like missing technical infrastructure will also be reviewed and addressed.

HCM City has been dealing with project delays for years due to shifting legal regulations on land and construction, as well as slow compensation for site clearance.

Some developers are also struggling with limited funding and capacity, which also contributes to the delays in project implementation. 

Last year, 176 land projects in the city were identified as needing adjustments or cancellations due to non-compliance with the district-level annual land use plan, according to a report from the Department of Agriculture and Environment.

A city-wide review across 19 districts has also uncovered 112 projects that have either not utilised their land or are running behind schedule. — VNS