124 suspended construction projects get going again

These projects had been put on hold for investigations and inspections.

Meanwhile, more than 30 others have yet to resume construction.

The municipality will continue considering projects for resumption after receiving their inspection results from the competent agencies.

The HCMC Real Estate Association (HoREA) had earlier written to the municipal government and the Government Inspectorate proposing quick reviews and processing of 100 halted projects.

HoREA noted that further extensions would cause the investors of these projects to face losses from higher costs and rising loan interest rates, while they miss out on business opportunities.

The high number of stalled projects has resulted in sharp falls in the number of houses available to be put into service, damaging the local real estate market, HoREA added.