Hai Phong northern port city’s People’s Council has approved a list of 10 land sites for the second phase of a pilot scheme allowing commercial housing projects to be developed through agreements to acquire land-use rights or on land already held by investors.
The scheme is being implemented under National Assembly Resolution No. 171/2024/QH15, dated November 30, 2024, on pilot development of commercial housing projects through agreements to acquire land-use rights or on land the use right of which belongs to investors.
The 10 sites cover a combined area of more than 61 hectares, with total projected investment of VND11.346 trillion (approximately $433 million).
Under the proposed implementation schedules, seven projects are expected to be completed no later than the fourth quarter of 2032. Meanwhile, a high-end apartment project is scheduled for implementation between 2026 and 2029, and a commercial housing development is expected to be completed in the third quarter of 2034.
The remaining project is scheduled for completion within 30 months, since the date its developer receives investment approval.
The latest approval follows the first phase of the pilot scheme, under which the city's People’s Council had approved three land sites for commercial housing projects, covering more than 6.2 hectares with projected total investment of nearly VND1.3 trillion.
