Change of capacity conditions of investors of new urban area, residential area projects
On 21 June 2010, the People Committee of Hanoi issued Decision No. 26/2010/QĐ-UBND on the amendment of, supplementation to and replacement of some of articles of the "Temporary regulation on management of investment, construction and trading of the new urban area, residential house area projects in Hanoi" attached to Decision No 153/2006/QD-UBND on 31 August 2006 of the People Committee of Hanoi.
Regarding capacity conditions of investors, the equity capital of an investor of a new urban area projects remains at least 20 per cent of the total investment capital of the project. However Decision 26 provides for stricter financial conditions of investors of residential house area projects, whereby the equity capital/total investment capital ratio is 20 per cent for a 20ha land project and 15 per cent for less than a 20ha land project.
Investors of new urban area or residential house area projects of more than 10ha are responsible for handing over to the City 20% of the residential house area after having completed the construction of technical infrastructure for development of houses fund for resettlement, social residential house, and other purposes as requested by the City.
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