Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >> Investment  >> Policy supports apartment renovations

NEWS UPDATES Asean Affairs   10 May 2013  

Policy supports apartment renovations

Investors are expected to be backed by preferential policies to encourage rebuilding and renovation of deteriorated residential buildings in Ha Noi.

Under a draft resolution on the issue, discussed at a recent meeting of the municipal People's Committee, interested investors will be exempt from land use and land lease fees for areas allocated or rented to implement their projects.

Meanwhile, residents living in the old and damaged buildings will be allowed to buy affordable social housing instead of going to resettlement houses.

In case where residents sell their flats to investors, they will be exempt from taxes relating to the apartment purchase and personal income tax.

Vice Chairman of the municipal People's Committee Vu Hong Khanh said it was also essential to tackle difficulties relating to financial issues while protecting the interests of residents when implementing projects to upgrade and rebuild old buildings.

He proposed the city offer more preferential policies for residents who need to buy resettlement houses.

Ha Noi has around 1,155 old multi-storey residential buildings, 10 old residential quarters of 1-3 stories and many houses that are unoccupied or require upgrades, according to figures from the municipal construction department.

The city's People's Council issued a resolution in 2005 to upgrade and rebuild decrepit residential buildings in the capital city. However, the city has dealt with just one per cent of its old residential buildings, said Director of the construction department Nguyen Quoc Tuan.

Priority status has been given to dangerous residential buildings whose residents were forced to move to ensure their safety, such as Kim Lien residential buildings in Hai Ba Trung District and Giang Vo residential buildings in Dong Da District.

A project to rebuild the Nguyen Cong Tru residential buildings in Hai BaTrung district, another example, was started in March following the city's strategy to renovate and rebuild old buildings.

The housing estate, constructed in the 1960s, includes 14 deteriorating four-storey buildings. It will be replaced by a complex that includes eight new 14-storey buildings on the 360,000-sq.m site. It will be connected by a network of roads and complimented by supporting buildings, nursery schools and a sports complex.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    10 May 2013 Subsribe Now !
• Thai cement maker SCG to build factory, upbeat about market Subcribe: Asean Affairs Global Magazine
• Banks weigh on KLCI Asean Affairs Premium
• RB, ALSB seal cargo partnership deal
• Industry players see better future promoting local invention, IP
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• VN, China defence ministers meet
• Policy supports apartment renovations
• Tax cuts proposed to boost tourism sector
Asean Analysis            9 May 2013 Advertise Your Brand
• Asean Analysis- May 9, 2013  
• Asean Weekly- May 3, 2013 Sponsor Our Events
Asean Stock Watch     10 May 2013
• Asean Stock Watch-May 10, 2013  

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand