Licenses and permits will be withdrawn from stalled or abandoned high-rise property projects across Hanoi because they inhibit development in the city.
Incomplete real estate project
National Assembly deputies raised concerns over several stagnant and seemingly abandoned highrise projects in the city centre.
Construction of Lucky Tower I project in Dong Da District started in 2008, work stopped after five years. Deputies said such abandoned projects take up much-needed land at a time when the demand for housing is high. But the legal framework is unclear.
A 17-storey building in Dong Da District was expected to be completed in 2010, but has been abandoned. Work has also stopped on Sky Garden in Hoang Mai Ward and Entrepreneur Tower in Ha Dong District.
People living nearby say the abandoned sites are ugly and fear incomplete structures may collapse at any time.
Nguyen Chi Dung, deputy head of the Construction Department said financial reasons were likely to blame for the problem. He blamed investors for lack of proper planning.
"We'll withdraw land permits from projects that have been stagnant for a long time and show no signs of positive outcomes," Dung said.
