The government of HCM City has decided to take back land and licences it had given to more than 100 development projects.
During a recent meeting, the city's People's Committee revealed that 130 projects had halted work for a long period of time. Land-use rights will be revoked, the committee said.
According to HCM City authorities, investors of these projects had kept the land while offering limited compensation to local residents who had been affected by the projects.
A report in Tuoi Tre (Youth) newspaper quoted an official from HCM City's Department of Natural Resources and Environment as saying that each of the suspended projects would be considered individually and treated accordingly.
The department has asked the city to focus on projects that have completed land clearance compensation but have not begun construction.
Most of the suspended projects are located in the city's outlying districts. Nha Be and Cu Chi districts have the most suspended projects, with 24 and 20, respectively.
A plan to build a 485ha Sai Gon Zoo and Botanical Garden in Cu Chi's An Nhon Tay and Phu My Hung communes has been delayed since 2004. Although the investors had received project approval from the city, construction has not begun.
Last year, the city inspected all suspended projects and agreed to extend the construction deadline for 400 projects on 3,300ha until the end of 2013. These projects have completed 50 per cent of land clearance.
According to the department, investors of 300 of the 400 projects have the ability to continue the work. The remaining 100 will lose their licences and land-use rights.
Many property development projects that received licences have had long delays, affecting residents who live nearby.
Source: VNS
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