Property management solutions: Effective measures to address abandoned projects

DNHN - According to the Ministry of Construction, to address the issue of abandoned real estate projects, a comprehensive approach is needed, ranging from planning management to repurposing, to ensure sustainable development.

In response to voters in Long An province about solutions to effectively utilize abandoned projects and prevent the emergence of more uncompleted real estate projects, the Ministry of Construction stated that many real estate projects have been invested in but are either incomplete or not viable for operation, leading to a waste of resources and negatively impacting the lives of surrounding residents. These structures are not just lifeless concrete blocks but also symbols of inefficiencies in planning and state management. They impose a heavy burden on the budget and strain urban areas.

Experts note that the causes behind this issue are diverse, including inadequate market research before investment, changes in consumer demand, and issues related to planning and legal frameworks. In this context, the Ministry of Construction has made efforts to introduce robust measures to mitigate this situation.

The Housing Law of 2023 has laid out clear regulations on provincial-level housing development, providing a legal basis for sustainable management and development. Accordingly, housing development programs and plans must align coherently with related plans and strategies. This not only enhances land use efficiency but also creates a strong connection between local housing demands and development targets.

Decree No. 95/2024/NĐ-CP has also supplemented regulations concerning the alignment of housing proposals with provincial housing development programs. Housing management agencies will be responsible for appraising housing construction projects, including evaluating the suitability of the project's location with the proposed development area.

This means projects must be thoroughly surveyed and studied before approval. The government has also mandated that local authorities clearly determine the timing of investment policy approval and the project's implementation schedule based on assessments of current housing conditions and supply-demand capabilities.

One of the highlights of the Housing Law 2023 is the regulation on repurposing completed but unused housing. This allows for the effective utilization of these properties, avoiding abandonment. Repurposing will turn unused assets into facilities that benefit the community, such as social housing or public service facilities.

Repurposing not only reduces resource wastage but also helps meet the growing housing demand. It is a flexible solution to optimize the use of existing resources amidst the difficulties facing the real estate market.

To prevent the emergence of more uncompleted real estate projects, the Ministry of Construction has proposed enhancing inspection, monitoring, and supervision of real estate projects. This will ensure that developers adhere to the schedule and project content approved by the authorities.

According to land law, project developers must put land into use within two years from the date of handover. Failure to do so without valid reasons will result in land reclamation. This is one of the key measures to protect land resources and prevent the issue of abandoned real estate projects.

Additionally, local authorities must strengthen their oversight of developers' activities, ensuring that they fully comply with regulations on investment, construction, and real estate business.

To thoroughly address the issue of abandoned real estate, community participation is crucial. Social organizations, professional associations, and residents should be encouraged to engage in urban planning and development processes. Community input will help state management agencies make more informed decisions, ensuring that projects meet the actual needs of residents.

Moreover, increasing awareness about legal regulations and property management will help raise awareness among developers and the public in protecting shared assets. Only when everyone works together can we create a better and more sustainable living environment.

The issue of abandoned real estate projects not only affects urban aesthetics but also creates a burden on the economy. To tackle this situation, the Ministry of Construction has issued specific directives and regulations aimed at effective management and utilization of real estate projects.

Measures such as regulations on repurposing, project appraisal, and enhanced inspection are crucial steps to prevent abandonment while creating real estate products that meet the actual needs of the public. Community involvement in planning and management also plays a vital role in fostering a sustainable real estate market.

Nguyen An Phan