Preventing waste of land resources

Dong Nai City currently has more than 440 real estate projects under development. Most of these projects are concentrated in areas with numerous industrial parks and high population density. Among them, however, many projects have remained unfinished despite being launched years ago.

Delays in project implementation directly affect residents and communities in the localities. Therefore, both residents and local authorities hope these projects can be accelerated and completed soon to contribute to socio-economic development.

As Dong Nai is now a city, it is essential to review real estate projects as well as projects in other sectors. Through the review process, each group of projects can be classified to identify where obstacles arise and determine solutions to accelerate implementation. In cases where investors in real estate projects deliberately fail to implement projects according to the planned schedule, the projects may be revoked and assigned to investors with sufficient experience and financial capacity to carry them out. At the same time, Dong Nai would be able to better tap the potential of its land resources.

In reality, many wards and communes across Dong Nai still have “suspended” real estate projects that have remained unfinished for 10 to 15 years. Some projects have changed hands among multiple investors but remain incomplete. Meanwhile, some projects have already been completed, with land plots, townhouses, apartments, and villas sold, but most buyers purchased properties purely for investment purposes. This reality has resulted in the emergence of residential areas and urban zones with few actual residents.

Many businesses investing in Dong Nai’s property market have focused primarily on the high-end segment. As a result, the city’s real estate market has become increasingly imbalanced, leaving many homebuyers unable to afford housing despite genuine demand.

Over the past two to three years, Dong Nai has prioritized attracting investors to social housing projects targeting low-income groups. Currently, more than 70 social housing projects are underway across the city. During the 2021–2030 period, Dong Nai aims to complete at least 67,000 social housing units. However, compared with the needs of a city approaching 5 million residents, this figure remains modest.

At the same time, demand for affordable and mid-range apartments remains substantial. Residents hope city authorities will introduce attractive enough policies to encourage both domestic and foreign investors to develop social housing projects for sale and lease, especially near industrial parks. In the coming years, Dong Nai is expected to continue rapidly expanding industrial parks and industrial clusters. According to planning, the city will have nearly 90 industrial parks and dozens of industrial clusters. These developments are expected to attract hundreds of thousands of workers from both inside and outside the city. Consequently, demand for affordable housing for purchase and rental will increase significantly.

To attract and retain workers over the long term, Dong Nai should ensure an adequate supply of social housing for both sale and rental. Such housing should also meet quality standards, provide open living environments, and offer convenient access to transportation networks and public services. Addressing the social housing challenge effectively is also viewed as a way for Dong Nai to attract a more skilled workforce, creating a solid foundation for sustainable industrial and urban development.

By Khanh Minh – Translated by Mai Nga, Minho