Rights of investors of apartment buildings for execution of renovation/reconstruction projects in Vietnam

According to Article 12 of the Decree No. 101/2015/NĐ-CP of the Vietnam’s Government, rights of investors of apartment buildings for execution of renovation/reconstruction projects are specified as follows:

- Request relevant organizations and authorities to comply with procedures for development, appraisal and execution of a renovation/reconstruction project regulated in Vietnam laws;

- Enter into agreements on lease, lease purchase and sale of housing and service works (if any) within the scope of the project; raise capital, collect payments from such agreements under regulations of the law on housing and laws on real estate trading in respect of service works that the investor is permitted to do business and the remaining area of the house after relocation as agreement signed with the occupier of the apartment building and approved by the People’s Committee of the province;

- Manage and operate technical infrastructure system within the scope of the project under the decision on investment in the project issued by the State competent authorities;

- Request the State authorities competent to issue the Certificate to houses in the scope of the project to accommodate the occupiers at the old site; be permitted to transfer his/her houses and construction works to other occupiers under the law on housing and law on real estate trading;

- Receive assistance in forms of capital and temporary housing (if any) from the People’s Committee of the province and incentives during the execution of the project as regulated in this Decree and relevant laws;

- Have other rights regulated in laws on construction, laws on land and relevant laws.

View more details at the Decree No. 101/2015/NĐ-CP of the Vietnam’s Government, effective from December 10, 2015.

Ty Na

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