Forms of housing construction investment projects in Vietnam

Forms of housing construction investment projects in Vietnam (Internet image)

1. What is housing construction project?

According to Clause 8, Article 3 of the Law on Housing 2014, housing construction project means all planned pieces of work that are designed to use capital to build new housing, or technical and/or social infrastructural works for residential use, or to renovate or repair housing in a certain location.

2. Forms of housing construction investment projects in Vietnam

According to Clause 2, Article 17 of the Law on Housing 2014 (amended in Article 2 of the Law on amendments to construction law 2020), housing construction investment projects prescribed in this Law include:

- Investment project on new construction or renovation of an independent house or a cluster of houses;

- Investment project on construction of a housing area with synchronized technical and social infrastructure systems in a rural area;

- Construction investment project using mixed types of lands, parts of which are used for the construction of houses;

- Investment project on construction of buildings for mixed residence and business purposes.

3. Types of project-based housing construction in Vietnam

According to Clause 2, Article 18 of the Law on Housing 2014, the types of project-based housing construction include:

- Development of housing invested by real estate enterprises for lease, lease purchase, or sale;

- Renovation and reconstruction of old housing areas and/or apartment buildings;

- Development of housing serving the relocation;

- Development of state-owned housing.

4. Requirements pertaining to residential construction projects in Vietnam

Requirements pertaining to residential construction projects under Article 19 of the Law on Housing 2014 are as follows:

- Residential construction projects prescribed in Section 2 shall comply with regulations of this Law.

- A residential construction project may only be formulated, approved and implemented in the area which has the specific plan approved by the competent agency and comply with requirements prescribed in Article 14 of the Law on Housing 2014.

- The residential construction project and areas in the project must be named in Vietnamese; in case the investor in a commercial housing project wishes to have the project named in a foreign language, the full Vietnamese name shall be written first, then the foreign name.

The names of the project and areas in the project must be permitted by the competent agency and they shall be used throughout the period of construction and operation.

- The investor in the residential construction project must completely finish the approved project; in case the investor wishes to adjust the content of the project including:

+ Name,

+ Schedule,

+ Types of housing,

+ Total floor area,

+ Total number of housing,

+ Rate of types of housing, 

+ Total investment regarding the project invested by state capital,

+ That adjustments must be decided by the competent agency as prescribed in article 170 of this law before the construction is commenced.

- The People’s Committee of the province must determine the list of residential construction projects in the administrative divisions including projects on construction of commercial housing, social housing, official residence, housing serving the relocation, then announce it on the website of them as follows:

+ Number of projects; total number of housing and total floor area of housing which is constructed annually in the residential construction projects in the province;

+ Essential contents of every residential construction project in the administrative divisions includes

++ Names,

++ Locations,

++ Scale,

++ Specific plans,

++ Schedule,

++ Types of housing,

++ Investment objectives,

++ Total floor area,

++ Total number of housing, forms of housing business and other related content prescribed in law on real estate trading;

+ The information about the projects must be disclosed over the progress of the projects.

Quoc Dat

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