HCMC proposes to hand over 4,000 sq meters of land to business

HCMC People’s Committee has sent its dispatch to the Prime Minister to seek approval for the policy of handing over a 4,000 sq meter land pierce in An Phu ward, District 2 to Nova Lexington Real Estate Company instead of auctioning of land use rights of the property as per the Land Law. 

A corner of District 2, HCMC (Photo: SGGP)
A corner of District 2, HCMC (Photo: SGGP)
According to HCMC People’s Committee, the city reclaimed 10,173 square meters of land in An Phu ward in 2004 and handed over 11,715 square meters to the management board of Thu Thiem new urban area to build An Phu apartment block for resettlement.
In 2008, the city stopped implementation of the project and had the policy to transfer the land plot according to market price to investors of adjacent projects for park construction and tree planting.
Among the investors, Nova Lexington Company suggested being transferred nearly 4,000 square meters contiguous to an apartment block in An Phu urban area which the company has invested in.
So far the apartment block project has been built. So the company has filed documents proposing the city to hand over the 4,000 square meters for it to complete legal procedures as well as financial obligations to grant land use right and property ownership certificates to customers.

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