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HoREA: Condotel, Officetel, Shophouse Are Signs Of Transformations

Condotel, officetel, shophouse show signs of transforming

According to HoREA, condotel, officetel, shophouse products are showing signs of transforming into ordinary housing, so it is necessary to have strict and effective management mechanism.

Specifically, HoREA said that the construction standards of Vietnam, the current design standards have not specified the standards of planning, a design of buildings, condotel, officetel.

Especially, in the past time, the population quota for these works has not been included in the approval of the investment project. Therefore, when putting the project into operation, it has put more pressure on the urban technical infrastructure, especially contributing to the increase of traffic jams.

condotel, officetel project to be transformed
HoREA: Condotel, officetel, shophouse are signs of transformations

Therefore, the Association is asking for comments, as follows:

Association agreed on the size of officetel area from 25-50 sqm/room; Condotel apartments are in accordance with the hotel room and resort design.

Regarding the population criteria, the Association agreed with the proposal of the Department of Planning and Architecture on unifying the application of the population target equivalent to 50% of the population target of the house, regardless of whether the projector condotel, officetel independent or located in the same mixed-use building.

The Association finds it unnecessary to stipulate an equivalent population norm (100%) with the population norm of the dwelling house, if combined condotel, officetel in the mixed housing, because in this case, the enterprise will apply for investment 100% apartment, rather than investment condotel, officetel to ensure business goals.

condotel, officetel project to be transformed
HoREA warned the condotel, officetel project to be transformed into a house

In terms of parking area, the Association is required to specify the area of parking suitable for condotel, officetel, but not necessary to regulate private parking. The parking arrangement is the responsibility of the mixed-use condominium management for proper and efficient use of the parking area.

The layout of the condotel, officetel should be arranged on the floor and the traffic is separate from the residential area.

Regarding the state management, the Association suggested the need to have effective management mechanism to avoid the condition of condotel, officetel, shophouse into apartment housing break the general planning and increase the pressure on the urban infrastructure system.

Officetel (office + hotel) is a combination of office and hotel with 50 years of ownership. Officetel is usually located in the commercial podium of the apartment project. According to JLL, from 2014, Ho Chi Minh City real estate market welcomed more than 8,000 officetel.

Ty Ga Nguyen, market research consultant and market researcher, JLL Vietnam, said: “In the future, the supply of” hybrid “real estate will continue to increase. Therefore, the real estate market needs a complete legal framework for this type in order to regulate the market in a most reasonable way to ensure the investors harmonize the interests and balance the needs of both buyers and project residents”.

Condotel, officetel, shophouse show signs of transforming
Condotel, officetel, shophouse show signs of transforming into ordinary housing

However, according to Mr. Nguyen Van Duc, Deputy General Director of Dat Lanh Real Estate Company, officetel has not been licensed and has a great impact on infrastructure construction as well as social infrastructure in the project area in Ho Chi Minh City in particular and the country in general.

Specifically, despite the increased profitability of the company, the officetel model is not in line with the original construction. At the same time, this model also violates the number of inhabitants allowed on the licensed area.

According to Mr. Đuc, the officetel has broken down the whole technical infrastructure and service infrastructure of that building area, not only in the whole house but also in the whole ward.

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HoREA: Condotel, Officetel, Shophouse Are Signs Of Transformations
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