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HCM City real estate investor complains about red tape
  • By Phuong Dung | dtinews.vn | June 20, 2019 08:48 AM
A real estate investor in HCM City has complained that time-consuming administrative procedures have prevented them from getting a project done properly.




110 villas at the Green Star Sky Garden Project in Phu My Ward, District 7 in HCM City


Authorities in HCM City's District 7 on May 22 decided to suspend the construction of the Green Star Sky Garden Project in Phu My Ward after the investor failed to show a construction permit for the project.


According to local authorities, the investor, Hung Loc Phat Company, has not been given legal right to use the land for construction by the HCM City People's Committee but they have completed 110 villas at the site.

A lake, some roads, and the foundation of a 27-floor apartment building are also being built.

District 7 authorities have asked the investor to stop the construction work and complete all the legal papers within 60 days.

Meanwhile, a representative from Hung Loc Phat Company said that they have been given permission to invest in the Green Star Sky Garden Project. The 1/500 detailed plan of the project had also been approved.

The company complained about the cumbersome administrative procedures when asking for the land use rights from the Department of Natural Resources and Environment.

"We have sent our proposal to the department a year ago yet we’re still waiting," the company's representative said. "This long wait has greatly affected the progress of our project and our business opportunities."

The company also confirmed that the construction of 110 villas which have nearly been completed did not violate the current regulations for this kind of project.

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