No Comments

The Selection Of Investors Is Doing “Lost Opportunity” To Renovate The Old Apartment

“Choosing the investor to implement the project of renovating and rebuilding the apartment in the three forms stipulated in Decree 101 is losing time and opportunities for investors,” the representative of Viet Hung Urban Investment and Development Joint Stock Company expressed his views.

Around the progress of renovation of old apartment in Hanoi is slow, sluggish after 10 years to renovate 1%, representative of Viet Hung Urban Development and Investment Joint Stock Company (recently proposed to fill the 1ha of Thanh Cong Lake to renovate old condominiums) that in order to meet the requirements of renovating and rebuilding old condominiums, the State has promulgated the legal provisions to adjust.

However, in order to implement the renovation policy of the whole old apartment complex of Hanoi, the legal provisions still have some shortcomings, affecting the mechanism of implementation of investment, renovation and construction the apartment, making it difficult for investors.

According to the representative of Viet Hung Urban Development and Investment Joint Stock Company, after a long period of use, many old condominiums are seriously degraded. Therefore, the renovation and rebuilding are an urgent which need to be made to stabilize people’s lives as well as contribute to the modernization of civilized and modern urban areas.

Apartmenr repair
Specifically, the draft decree should provide an option for businesses to enter into an agreement with the people living in the old apartment building to demolish and rebuild.

“Although it has been very positive, with the current practice, after 10 years of implementation, Hanoi has just undergone a 1% improvement and can only handle single units in favorable locations.” Viet Hung Investment and Urban Development Joint Stock Company commented.

According to this unit, to overcome the above situation, the policy of the city government now requires changes in thinking, how to choose the investor to do urban planning study, on the large scale of the whole area, synchronous planning of technical infrastructure, social infrastructure along with the construction of the landscape system, reducing the population pressure on existing urban infrastructure are very correct.

“However, the selection of investors to implement the renovation project, rebuild old apartment in the three forms stipulated in the current Decree 101: The owner of the apartment choose enterprises to invest and contribute capital or carry out the dismantlement, renovation or reconstruction; after 12 months, if the owners cannot select, the State shall perform dismantlement. The State takes the form of BT contracts with investors and so on. This regulation takes time and opportunity for investors,” said representative of Viet Hung Urban Development and Investment Joint Stock Company.

Waiting for the owners of the apartment consensus is unnecessary?

Representatives of Viet Hung Urban Development and Investment Joint Stock Company said that an apartment building now has many owners, so if some owners are not the same, Investors will have to wait. Then, if the policy changes or the market fluctuates, investors will lose investment opportunities or have to rebuild the plan from the beginning.

“Moreover, the law is not clear, if the State implemented in the form of BT contracts, investors have to wait for the owners to choose whether or not the State has the right to choose or designate Right? “, This unit questioned.

According to the representative of Viet Hung Urban Development and Investment Joint Stock Company, the renovation of old apartment buildings must first have the consent of the owner, then the new project being implemented as now is contrary to the provisions of Clause 1, Article 92, Clause 2, Article 99 of the Housing Law regarding the house being seriously damaged and in danger of collapsing or failing to ensure the safety of users having concluded the quality inspection by the managing agency. Housing in the province where the house is located or in the state of emergency or natural disaster prevention must be dismantled, the owner of the condominium is responsible for demolition to renovate, reconstruct the new apartment or desk. Assigned to the competent authority for demolition and construction of other works.

Apartment repair
For the repair and renovation of condominiums you need to be careful in the selection of reputable contractors

“The renovation of old condominiums has been considered by the competent authorities by the organization of investigation, survey and quality inspection, the construction and announcement of plans for renovation and reconstruction. Therefore, it is necessary to wait more time for condominium owners to agree on the implementation of renovations as unnecessary and impossible, reducing the role of state management in urban development planning,” he suggested.

In the view of Viet Hung Urban Development and Investment Joint Stock Company, the need to pass on the opinions of the owners will cause the status of complaints and grievances required to be resolved in accordance with the provisions of the law, settlement of complaints, denunciations and Civil Procedure Law, etc.

“It is proposed to enhance the role of the State in deciding the implementation of the project on renovating the apartment building, proposing the Government to amend the law so that the State has the responsibility to directly decide on the selection of the investor to implement the plan of withdrawal, relocation, breakdown and ground clearance for the implementation of the project and the development of policies for the people to enjoy the characteristics of each project, Affecting investors’ investment opportunities as well as social security and urban civilization modernization plans, “representatives of Viet Hung Urban Development and Investment Joint Stock Company emphasized.

Apartment repair
Before you start repairing apartment apartments, you need to make and submit the file: “Agreement repair apartment improvement” for the investor.

According to this unit, only such regulation can meet the requirements of the overall implementation of projects that need to be renovated, synchronized with infrastructure planning, modern urban development, effective exploitation of land and contribution funds, having part in creating the beautiful landscape and sustainable environment, avoiding the situation to address the needs of each small project as today.

The same point Prof. Ph D. architect Nguyen To Lang, Deputy Principal of Hanoi Architecture University, said that renovating and rebuilding existing condominiums was difficult in resolving conflicts between the total area of the complex Construction height density, the height and so on are usually limited by the requirements of the urban infrastructure system and the overall development of the city) with the needs of investors (total floor area, public height the construction site wants to be boosted by profits). In addition, displacement of people in condominiums to other areas is not easy, as they have a habit of living in the current area and other restrictions in the transition, compensation.

According to the deputy principal of the University of Ha Noi Architecture, in order to have sustainable urban development including housing estates, cities need to pay attention to many issues such as jobs, security, social order; the synchronous development of functional areas in the city, existing areas and new construction sites, various housing components in the housing fund, including old condominiums.

Mr. Lang said that with the old apartment buildings, three issues need to be focused: Firstly, accurately review the status of the old apartment in all aspects and the status of construction investment in the past of organizations and individuals.

Second, identify specific mechanisms and policies, propose solutions, roadmap to implement and organize implementation.

Third, to delineate the boundaries of the old apartment buildings to renovate and rebuild houses in the city.

However, in the view of  Deputy Principle of Hanoi Architecture University, in order to ensure feasibility, it is necessary to have a separate mechanism for each type of old apartment building. This could be a flexible use of land, possibly for the purpose of converting the land use purpose of a part of an old apartment building, to exempting land use fees and renting land. At the same time, creating favorable conditions for investors to participate in other activities of the city when renovating and rebuilding old apartment buildings.

You are reading the article “The Selection Of Investors Is Doing “Lost Opportunity” To Renovate The Old Apartment” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/.
All information sharing, feedback please email to info@realestatevietnam.com.vn, Hotline 0909 890 897 (24/7).
Thank you for visiting our website!

The Selection Of Investors Is Doing “Lost Opportunity” To Renovate The Old Apartment
Review

Comments (0)