Ho Chi Minh City adds five developments to foreign ownership list
Nearly 170 commercial housing projects in the city are now eligible for sales to foreign buyers.
Five more residential developments in Ho Chi Minh City have been opened to ownership by foreign organisations and individuals, the municipal People's Committee announced. The decision marks the city's 15th batch of approvals.
The latest additions range from apartment towers to villas and developments incorporating shopping and service facilities:
- An Khai Hung Investment JSC's Truong Thanh Ward project covers 51,157 square metres in Long Phuoc Ward. Approval includes apartment buildings CC2 and CC3, plus a villa area.
- Tower A1 at Thuan An 1 occupies 6,357.7 square metres in Thuan Giao Ward. Its developer is Thien Long Building Real Estate Investment and Development JSC.
- Nha Be Real Estate JSC's Subdivision 11A residential high-rise development occupies 12,815.2 square metres along Nguyen Huu Tho Street, Nha Be Commune.
- Tan Thanh Investment Trading Co. Ltd. is developing apartments and a shopping mall on 3,956.6 square metres at 66 Tan Thanh Street, Cho Lon Ward.
- Masterise Group's Thao Dien development spans 19,208.08 square metres at 159 Hanoi Highway, An Khanh Ward. It includes blocks CT-103, CT-104 and CT-105, with housing, commercial and service facilities.
A lawyer with the Ho Chi Minh City Bar Association told Tuoi Tre that qualifying foreign buyers can own commercial-project housing outside designated national defence and security zones. The apartment ownership ceiling is 30 per cent per condominium building or block. For individual houses, the limit is 250 in an area with 10,000 residents.
The Ministry of Construction reported that foreign organisations and individuals have received ownership certificates for 6,188 homes across Vietnam. Separately, nationwide sales of apartments to foreign buyers reached 1,519 after the 2023 Housing Law became effective on August 1, 2024.
