According to figures released by the Ministry of Construction, Hanoi is now home to 95 inactive FDI projects. Others are still licensed, despite no progress and many projects have occupied land that is now unused.
The difficulties largely stem from land clearance and compensation challenges and insufficient developer capital. Many projects are considering a transition from large-scale high-end projects to affordable housing.
The pictures below show a city in stasis:
Korea's backed Booyoung Vina project has been delayed since 2007
Located in Hadong district, Inpyung Group's Daewoo Cleve has showed no progress since 2013
ParkCity started construction in 2010 but progress has been achingly slow since the foreign partner took complete control of the project. It has since extended its handover of properties to June 2014, rather than the first quarter of last year, as initially planned.
By Bich Ngoc
Đăng ký: VietNam News
