Tran Khanh, chairman of the Hanoi Building Management Operating Club, said the law does not spell out which areas belong to owners and which are commonly owned, and this is causing disagreements between the owners and building managements. A 2010 decree states that the two areas must be delineated clearly in apartment sale contracts, but another decree in 2015 does not do so, he said. Developers take advantage of it and do not designate shared areas, while buyers usually only worry about their apartment and do not care about shared spaces until later, he said. Nguyen Manh Ha, deputy chairman of the Vietnam National Real Estate Association, said some developers make false claims to sell before taking ownership of shared areas. One of the main disputed areas is the parking lot. The Housing Law states that motorbike and bicycle parking spaces are shared areas, but car parking spots must be bought or rented by residents. The cost of building parking lots is purportedly not … [Read more...] about Apartment owners, developers at odds over communal area loophole
Red dead redemption 2 house building mission
Some way to go for proptech to hit home
Customers still heavily lean towards traditional processes when it comes to researching property, Le Toan PropertyGuru, the owner of batdongsan.com.vn, has been in difficulties in Vietnam with a sharp decrease in turnover. In its first quarter result released on May 23, Vietnam marketplace revenue decreased 34 per cent on-year to $2.4 million, as government actions to tighten credit continued to impact the overall number of listings in the market. “The number of listings was down 32 per cent to 1.1 million in the first quarter compared to the prior quarter. The average revenue per listing was in-line with the first quarter of 2022,” the company said. PropertyGuru operates in the three markets of Singapore, Malaysia, and Vietnam. Only the Vietnam market saw a loss in the first quarter. Hari V. Krishnan, PropertyGuru CEO and managing director, said that the company’s overall first-quarter results were a successful start to 2023 as its performance in Singapore and Malaysia … [Read more...] about Some way to go for proptech to hit home
Construction ministry explains why $5.14bn credit package yet to be disbursed
The construction ministry has raised two reasons for the non-disbursement of the credit package of VND120 trillion (US$5.14 billion) launched by the government about two months ago for developing projects to build social houses and houses for workers, and upgrade deteriorated apartment buildings. In a recent report to the Prime Minister in relation to the credit package, the ministry said around 100 projects for building social houses and houses for workers have been licensed for construction but local authorities have yet to publicly announce lists of specific projects. Therefore, banks related to this package have not been able to provide loans sourced from this package to investors and buyers in such projects, the ministry said. The second reason that blocked the disbursement of the package is that most of these projects have yet to be ready for implementation as they remain in the completion stage for investment procedures. Earlier, at a recent conference on building one … [Read more...] about Construction ministry explains why $5.14bn credit package yet to be disbursed
Northern region facing risk of daily power shortage: official
Illustrative image (Source: VNA) Hanoi (VNA) – The northern region is facing the risk of power shortage at almost every point of time each day, according to Tran Viet Hoa, head of the Electricity Regulatory Authority of Vietnam under the Ministry of Industry and Trade (MoIT). Hoa told the press on June 7 that as of June 6, most of the major hydroelectric reservoirs in the north, including Lai Chau, Son La, Tuyen Quang, Ban Chat, Hua Na and Thac Ba, had reached the “dead water level” or even below that. Only the Hoa Binh reservoir can ensure its plant to generate electricity until June 12-13, he said, adding that once its water level hits the “dead point”, a total of 5,000MW or even up to 7,000MW would be lost in the region. As of June 6, the combined capacity of the hydroelectric plants stood at 3,110MW, only 23.7% of their designed capacity. Over the past time, thanks to efforts in supplying coal for thermal power plants, turbines have been running at full … [Read more...] about Northern region facing risk of daily power shortage: official
Breakfast @ Tuoi Tre News – June 8
Check out the latest news in Vietnam today: Politics -- President of Kazakhstan Kassym-Jomart Tokayev will pay an official visit to Vietnam from Sunday to Tuesday at the invitation of Vietnamese State President Vo Van Thuong, the Ministry of Foreign Affairs announced on Wednesday. -- Deputy Minister of National Defence Senior Lieutenant General Hoang Xuan Chien on Wednesday received Director of the U.S. Defence Prisoners of War/Missing In Action ((POW/MIA) Accounting Agency Kelly K. Mc Keague, the Vietnam News Agency reported. Business -- Work on four expressway projects, namely Beltway No. 3 in Ho Chi Minh City, Khanh Hoa-Buon Ma Thuot, Bien Hoa-Vung Tau, Chau Doc-Can Tho-Soc Trang, is expected to begin concurrently on June 18, according to the Ministry of Transport’s proposal recently sent to the prime minister. -- Thuduc Housing Development Corporation in Ho Chi Minh City could undergo a leadership shakeup again as its board chairman Nguyen Huy Hoang has … [Read more...] about Breakfast @ Tuoi Tre News – June 8
Ho Chi Minh City to connect 22 additional bus routes to metro line No. 1
The Ho Chi Minh City Management Center of Public Transport has announced the scheduled introduction of 22 additional bus routes providing connectivity for passengers to metro line No. 1 stations, alongside the current 11 bus routes. Among the 22 bus routes, there are two routes linking neighboring Binh Duong Province, namely 61-9 (Cu Chi Coach Station – Di An – New Mien Dong Coach Station) and 61-10 (Ben Cat Coach Station – New Mien Dong Coach Station), and one passing through Dong Nai Province—60-9 (New Mien Dong Coach Station – Giang Dien Tourist Site). The remaining 19 bus routes will connect bus stops on Ham Nghi Street in District 1, and near the Vietnam National University-Ho Chi Minh City, Nong Lam (Agriculture-Forestry) University, Vincom Thu Duc, and Vinhomes Grand Park in Thu Duc City, among others. The Ho Chi Minh City Management Center of Public Transport proposed developing 230 new bus stops close to schools, residential areas, industrial parks, and pedestrian … [Read more...] about Ho Chi Minh City to connect 22 additional bus routes to metro line No. 1