Da Nang's Department of Construction has declared two riverside housing projects eligible to raise capital through capital contribution, joint investment, business cooperation or joint ventures, Báo Đà Nẵng reported. The department issued the notice on October 28.
The first is the apartment buildings on lots A3-3, A3-4, A3-5 and A3-10 of the Hòa Quý – Đồng Nò riverside urban area. It may raise up to about VND 2,833.9 billion, equal to 75 percent of its total housing construction investment. The second is the apartment buildings on lots A2-1 and A2-2 of the Hòa Xuân riverside eco-urban area, with a ceiling of about VND 1,161.7 billion, also 75 percent.
The report lists conditions. Investors may be paid profit only in cash or shares in proportion to the capital they contribute. Developers may not give investors housing units, priority to register, deposits or purchase rights, or any share of land-use rights.
Money raised must go only to the housing project concerned. The fundraising period runs from the date of the department's eligibility notice until the project's construction schedule ends. The report says the rules follow Article 116 of the Housing Law.
The article does not name the developers, unit counts or total project values.
Sources
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