One of the five newly approved projects is the Truong Thanh Ward housing development, which includes the CC2 and CC3 apartment buildings and a villa area.
The municipal People's Committee has announced the 15th batch of housing projects in which foreign organizations and individuals are permitted to own homes.
The five newly approved projects are located across the city.
The first is the Truong Thanh Ward housing project, comprising the CC2 and CC3 apartment buildings and a villa area, in Long Phuoc Ward. Developed by An Khai Hung Investment JSC, the project covers 51,157 square meters.
The second is the Thuan An 1 high-rise complex housing project, specifically Tower A1, developed by Thien Long Building Real Estate Investment and Development JSC on a 6,357.7-square-meter site in Thuan Giao Ward.
The third is the high-rise housing project in Subdivision 11A on Nguyen Huu Tho Street in Nha Be Commune, developed by Nha Be Real Estate JSC on a site measuring 12,815.2 square meters.
The fourth is the shopping mall and apartment project at 66 Tan Thanh Street, developed by Tan Thanh Investment Trading Co. Ltd. on a 3,956.6-square-meter site in Cho Lon Ward.
The fifth is the Thao Dien high-rise housing project combined with commercial and service facilities, comprising blocks CT-103, CT-104 and CT-105 at 159 Hanoi Highway in An Khanh Ward.
The project, covering 19,208.08 square meters, is developed by Masterise Group.
Nearly 6,200 homes owned by foreigners nationwide
A lawyer from the Ho Chi Minh City Bar Association told Tuoi Tre (Youth) online newspaper that under current regulations, eligible foreign organizations and individuals are permitted to own homes in commercial housing projects outside areas designated for national defense and security.
Foreign ownership is capped at 30 percent of the apartments in a condominium building or each apartment block, and no more than 250 individual houses in an area with a population of 10,000.
With the addition of the five projects, the number of commercial housing projects in Ho Chi Minh City eligible for sale to foreign buyers has risen to nearly 170.
Foreign organizations and individuals have acquired ownership of 6,188 homes nationwide and been granted ownership certificates for them, according to a report by the Ministry of Construction.
Notably, since August 1, 2024, when the 2023 Housing Law took effect, a total of 1,519 apartments have been successfully sold to foreign buyers nationwide.
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