Series of housing projects behind schedule in Lam Dong

The above information was stated by the National Assembly Delegation of Lam Dong province in the report on real estate market management and social housing for the period 2015-2023.

In 8 years, Lam Dong has approved investment policies for 16 commercial housing and urban area projects with a scale of nearly 360 hectares and a total registered capital of nearly 16,800 billion VND. However, up to now, there are still 4 projects behind schedule, concentrated in Da Lat city, Lam Ha and Di Linh districts.

Specifically, three out of seven projects approved for investment in the 2015-2020 period are behind schedule. The project with the largest investment capital is the Public Service Center and Parking Lot Area in the Da Lat City Cultural and Urban Park with more than 700 billion VND. The project scale is about 1 hectare with nearly 250 products. The report said that the project's construction location has not been approved in the zoning plan, and the investor has not yet supplemented the documents as required by the Ministry of Construction.

The Sun Garden Da Lat Apartment and Service Complex of STC Investment Management Joint Stock Company is also behind schedule. The project has a total investment of more than 120 billion VND, providing more than 90 products. The report stated that the project's progress was affected by its location in an area at risk of landslides along with complicated storms and rains. Da Lat City requested the investor to supplement the monitoring of the constructed works and construction methods to request permission to continue construction and completion.

The third is the Van Tam Residential Area Investment and Construction Project of Van Tam Real Estate Investment and Trading Company Limited. The project is located in Lam Ha district with a scale of more than 9 hectares, providing more than 150 lots. The reason for the delay is that the investor is carrying out procedures to locally adjust the detailed planning of the project.

In the 2021-2023 period, one project was behind schedule out of a total of 9 projects approved for investment. That is Thanh Danh Hill Residential Area of ​​the Joint Venture of OLECO - NQ Company Limited and My Real Estate Joint Stock Company. The project is located in Di Linh district with an area of ​​5 hectares, a total investment of more than 550 billion VND, providing more than 140 houses and 10 plots of land. The project is behind schedule due to problems in making compensation plans and site clearance for plots of land assigned to households without red books.

Regarding the social housing segment, the report said that the development of this segment in Lam Dong province is still slow and not very effective. Since 2022, the province has not had any projects put into use.

The report stated that the responsibility lies with the locality for not being determined in directing the acceleration of housing projects in the area.

With social housing, the demand is concentrated in Da Lat City, but the land fund in the city is limited, small in scale, and scattered. These areas are difficult to attract investment because the land use coefficient is not high, and compensation for site clearance has not been paid.

Responding to the report of the National Assembly Delegation, Lam Dong Provincial People's Committee assigned the Department of Construction to propose solutions to complete the housing development program goals for the 2021-2025 period, with a vision to 2030, and report to the province before May 24.