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HCMC to monitor stalled CBD projects

Released at: 11:49, 07/08/2015

HCMC to monitor stalled CBD projects

Team created to inspect projects that have suspended construction.

by Thu Hoang

The Ho Chi Minh City People’s Committee has recently established a special team to handle delayed construction projects in the central business district (CBD).

Led by Mr. Quach Hong Tuyen, Deputy Director of the Ho Chi Minh City Department of Construction, the team will conduct investigations of projects in Districts 1 and 3 that have been granted investment and construction licenses but have stalled.

Project developers will be asked to ensure their commitment to proceeding and periodically report to city authorities on construction progress.

The team is also assigned to evaluate the developers’ financial capacity to perform procedures relating to land allocation, land leasing, and licensing, and propose specific sanctions for delayed projects.

  • TAGS
  • Ho Chi Minh City People's Committee
  • established
  • a special team
  • handle
  • delayed construction projects
  • central business districts
  • CBD
  • District 1 and 3

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