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Although Ho Chi Minh City has issued a written ban, why are there exceptions?

On 23/8/2017, the Office of Ho Chi Minh City People’s Committee said that the proposed banning of adjustment of planning to function in the central core of the city (in the zone 1- commercial financial).

You can read more information at Vietnam Real Estate Market

This area is bounded by Ton Duc Thang Street in the North and East, Le Lai street and Ton Duc Thang Street in the West, Pham Ngu Lao and Ham Nghi Streets in the South, which has 92.3 hectares land area.

The area is limited by the planning scheme of 1 / 2.000 subdivision area of the existing 930ha city center was approved.

However, on 23/8, Office of Ho Chi Minh City People’s Committee reported that according to the proposal of the Department of Planning – Architecture, the People’s Committee of Ho Chi Minh City has approved the adjustment function and norm planning project architecture Apartment for rent – 3A-3B Ton Duc Thang Street (Zone 3), Ben Nghe Ward, District 1.

The project is known as Viet Capital Center owned by Real Estate Joint Stock Company 3A2 Phuong Nam. This company has 2 shareholders namely Viet Hung 3A-2 Real Estate Joint Stock Company holding 85% of shares, Phuong Nam Tourist and Shipping Investment Limited Company holds 15%.

According to a document signed on 9/6/2014, HCMC People’s Committee approved to increase the density of building blocks from 35% to 40% and adjust the function of apartments from for rent to for sell (The floor area of the building is not changed, equivalent to any more than 20% of the total floor area), with a population of 350 persons for the project in Zone 3 (3,341.2sm) at 3A-3B Ton Duc Thang street, Ben Nghe Ward, District 1…

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