Home Business Investment Economic Import-Export Real Estate Stock Bank Directory Banking News Financial Gold Trade Health Agriculture Education

Advertisements

Random Post

Vietnam Real Estate Market News

Vietnam Business » Vietnam Real Estate Market News » Vietnam realty companies are still confused with new housing regulations

Vietnam realty companies are still confused with new housing regulations

Although there are only three days left before the Decree 71/2010/ND-CP with guidelines on housing law in force, the two agencies and building management companies a sense of confusion in the translation of the Ordinance actually due to a lack guidelines Circular of the Ministry of Public Works.

The new decree, the decree issued in 1990 replaced four years ago, the clearest regulations in different areas seen in the local property market and how to apply the new rules is an issue in a seminar organized by the HCMC Real Estate Association discussed (Horea) of the Securities and Exchange Commission on Wednesday. Nguyen Van Hiep, deputy director of HCMC Department of Construction, said the economic reality that there are dozens of documents-law to implement the new regulation, but the agency had not received anything from the higher authorities. "The fact is that real estate can not be stopped, while on the new circular to the individual leaders, but we continue to move forward," Hiep said: "There is no opportunity, but sent a petition to the city government to ask the way. " Hiep developer put your mind to say "comfortable that the project property, which already permits could further the progress of construction, and only new, I go to the new scheme. Various issues were discussed at the seminar, but more controversial is the provision that the developer of the cabinet allows for mobilization of resources from secondary investors. In contrast to the prior adoption are vague conditions for issuing the new regulation provides that the developer can issue corporate bonds or subscribe to capital or agreements on cooperation in investment with potential investors to pool resources. The forthcoming rules allow the development of flats for sale in advance at most 20% of the total number of dwellings in one as an investment property in order to find money for their projects before finishing foundations. The rest by an exchange of property where the foundations projects are finished floors are traded. To this end, the developer obliged to inform the local planning authority at least 15 days before the start of the mobilization plan of their capital and offer service to the list of investors. Le Hoang Chau, Chairman of the Horea quotes, comments, tell others that this requirement will lose business assets to negotiate business opportunities, because they sometimes need an agreement of cooperation between enterprises a quick decision within two or three days. Supported other ideas to say who and how capital mobilized from the investors monitor a challenge for managers, it rules on the issue was realistic. Hiep said, the following rules for all real estate projects are required, regardless of the scale, I have finished the foundation before they start the market. However, some new urban city such as Phu My Hung in the 7th District HCMC enjoyed new urban environments that allow developers to mobilize funds from investors to enable the institutions on their projects. "I do not know whether you want the new rules will be retroactive or not, and must wait for specific guides," Hiep. Hiep said the new regulation, the department to monitor the market activities, to create a data center for better management led.

Vietnam Business And Financial News Network. Source [stox.vn]

More Vietnam Real Estate Market News:

Popular Vietnam Business News

Deposit Interest Rate Rises to 10.2 Per Cent

Although the prime rate set by the State Bank of Vietnam (SBV) was kept unchanged at 7 per cent per annum in July, many banks still revised the borrowing rate.

Prospect for higher FDI

. After a standstill period due to bad impacts of the global economic slow down, more and more foreign companies have come to Vietnam to seek investment and business opportunities.

Leading B2B websites in Vietnam

. More than 100,000 Vietnamese firms have to date joined www.alibaba.com, one of the global leaders in business-to-business (B2B) e-commerce Websites, said China’s Alibaba Group. .About 4,000 Vietnamese small- and medium-sized

Vietnam airline market takes off

Economic recovery is set to spark demand, competition and reasonable fares on Vietnam�s air travel market, industry insiders say. Vo Huy Cuong, head of the Civil Aviation Administration of Vietnam�s

Workers quit factories for more cushy jobs, labor shortage ensues

After the Tet holidays, Tran Thi Phuong from northern Nam Dinh Province did not return to the Hanoi-based garment firm where she had worked for several years. The 28-year-old woman

Vietnam warned of inflation and trade deficit

The trade deficit is likely to prompt a further fall of the Vietnamese dong this year while food, housing and transport costs are leading inflation higher, according to a Standard

Uy Nam Construction Investment Joint Stock Co (Unicons) EPS at 16,644 dong/share in 2009

Uy Nam Construction Investment Joint Stock Co (Unicons) has recently reported audited fiscal report in 2009 with 663.01 billion dong in revenue from sales and service provision, up 24.16 percent

Vietnams export levels bear little impact from European debt crisis

According to trade experts under the Ministry of Industry and Trade, the impact of the debts crisis in Europe is not all that significant because the Vietnamese dong is still

Advertisement