Ho Chi Minh City has approved 28 real estate firms to pilot commercial housing projects across the city, in a move aimed at easing long-standing bottlenecks in the property market.
According to an official notice issued by the municipal People’s Committee, the selected developers will be allowed to implement projects through two main mechanisms: negotiating to acquire land-use rights or utilizing existing land reserves. The more flexible approach to land access is seen as a key breakthrough, helping address one of the market’s biggest challenges—securing legally compliant land for project development.
Authorities have also been instructed to facilitate the next steps for investors, ensuring projects are implemented on schedule and in line with legal regulations.
The list of 28 projects is widely distributed across the city, with a strong concentration in the former city of Thu Duc, which is emerging as a major growth driver for the real estate market.
Notable projects include the Thien Ha complex in the former city of Thu Duc, covering more than 135,000sq.m with an estimated investment of VND29.43 trillion ($1.12 billion), making it the largest in the list. Other key developments include the Tan Kien mixed-use residential and commercial project in the city’s western area, and the Phuoc Long B high-rise complex (Opal City) in Thu Duc.
