The move aimed at easing long-standing bottlenecks in the property market.

Ho Chi Minh City has approved 28 real estate firms to pilot
commercial housing projects across the city, in a move aimed at easing
long-standing bottlenecks in the property market.

According to an official notice issued by the municipal
People’s Committee, the selected developers will be allowed to implement
projects through two main mechanisms: negotiating to acquire land-use rights or
utilizing existing land reserves. The more flexible approach to land access is
seen as a key breakthrough, helping address one of the market’s biggest
challenges—securing legally compliant land for project development.

Authorities have also been instructed to facilitate the next
steps for investors, ensuring projects are implemented on schedule and in line
with legal regulations.

The list of 28 projects is widely distributed across the
city,  with a strong
concentration in the former city of Thu Duc, which is emerging as a major growth driver for
the real estate market.

Notable projects include the Thien Ha complex in the former city of Thu Duc, covering more than 135,000sq.m with an estimated investment of VND29.43
trillion ($1.12 billion), making it the largest in the list. Other key
developments include the Tan Kien mixed-use residential and commercial project
in the city’s western area, and the Phuoc Long B high-rise complex (Opal City)
in Thu Duc.

VnEconomy-Thiên Di