Some 303 commercial housing projects under pilot mechanism proposed in HCM City

Some 303 commercial housing projects to be implemented under the pilot mechanism introduced in Resolution No.171/2024/QH15 of the National Assembly have been proposed by 256 businesses in Ho Chi Minh City this year, as of March 20.

The Resolution, promulgated on November 30, 2024, facilitates the implementation of commercial housing projects through agreements to acquire land use rights or utilizing already possessed land use rights.

The Ho Chi Minh City Real Estate Association (HoREA) described this development as a positive indicator of strong engagement from real estate businesses. Amidst a housing market constrained by supply shortages, the pilot mechanism is seen as a critical tool to unlock potential and accelerate the growth of commercial housing in major cities like Ho Chi Minh City.

According to HoREA Chairman Le Hoang Chau, most businesses proposing projects currently hold land use rights, often for agricultural or non-residential land. Others are negotiating to acquire adjacent land use rights to assemble sufficient land for development.

Proposals range in scale, with some businesses owning just a single plot, while larger corporations are submitting plans involving 4 to 16 plots. This diversity highlights the varying capacities and scopes of potential investors.

Under the targets set by the Ho Chi Minh City Housing Development Program for 2021-2025, the city aims to increase its total housing floor area by 50 million square meters, achieving an average housing area per capita of 23.5 square meters.