According to the report of HCMC Real Estate Association (HoREA), HCMC has 474 old condominiums built before 1975, many of which are badly crumbling. Notably, according to HCMC Department of Construction, the city has 14 condominiums rated D level for quality, which means “seriously damaged and dangerous”.
HCMC has been authorised to select investors for the D-level residential projects.
The city has also authorised the People's Committees of districts to carry out the quality inspection on apartments and to select investors with a goal of rebuilding at least 50% of the old condominium units by 2020.
The detailed road map in 2017 will start with the construction of three run-down apartment buildings and strive to rebuild 237 old buildings by 2020.
Many real estate companies have registered to rebuild run-down condominiums in the city. About 30 enterprises have registered to handle the buildings in District 1. Some others have registered to rebuild Nguyen Thien Thuat condominium (District 3), Ngo Gia Tu condominium (District 10), Thanh Da condominium (Binh Thanh district),...
Additionally, HCMC People's Committee also demanded HCMC Department of Transportation to coordinate with the People's Committees of districts to inspect and report on handling the unregulated coach stations. Besides, they should coordinate with the relevant agencies to inspect the landslide risks in the city and to open the river bus stops.