Tuesday, 10 July 2012

PetroVietnam continues oil exploitationHCM City rejects mini apartment project

The People's Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The People's Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The project in District 1 was submitted to the committee by Dat Lanh Real Estate Company. The city turned down the proposal on the basis that it would lead to too high a concentration of people and put greater pressure on traffic and social infastructure. Earlier, the company proposed that the Ministry of Construction revise regulations on the construction of small apartments to match people's demand. Director Nguyen Van Duc said up to 300,000 apartments had been offered in Hanoi and HCM City since 2004, excluding future supply. Most of them measured over 70 square metres each. However, these apartments failed to meet the demand of many people due to high prices. He proposed that the State should focus on building small apartments of below 40 square metres each such as type of 20-30 square metres for one person, 30-50 square metres for two and 50-70 square metres three. He also suggested that enterprises who had built 70-square apartments should be allowed to subdivide the flats into two or three parts. However the Minister of Construction Trinh Dinh Dung earlier supported the construction of mini-apartments, saying that "The ministry plans to include this into a draft resolution to submit it to the Government for consideration. It is also aimed to implement the national housing strategy." Tourist Vietnam
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