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Several tips on investment and construction management of Projects with Condotel and Officetel Apartments
The Ministry of Construction has issued the Official Dispatch No. 4308/BXD-HDXD with regards to the construction and investment management of projects with condotel (a hybrid of hotel and condominium), officetel (a crossbreed of place of work and motel) condominiums, resort holiday villas or shophouses.
In order to continue to improve the effectiveness and efficiency of the state authority over the management of construction investment, the Ministry of Construction requests the People’s Committees of provinces and centrally-run cities to order relevant agencies and units during the process of their management of construction investment, or construction authorities during the process of their implementation of administrative procedures, for construction investment projects with condotel, officetel apartments, resort villas or shophouses should keep the followings in their mind, according to this document:
Initially, when looking for and approving zoning construction and plans strategies, People’s Committees of centrally-affiliated towns and provinces must guarantee that these plans are conforming to technological regulations and standards in power, and offer very clear answers about how big the construction floor region, the number of flats and inhabitants for the arrangement ofcondotel and officetel, vacation resort villa or shophouse features to discover the criteria and needs regarding social and technical facilities.
2nd, when determining investment insurance policies for construction investment projects with the above property types, it is necessary to make sure the correspondence involving investment functions or land employs and processes of construction projects; keep in mind that the development and formation of this particular real-estate needs to be perfect for the nearby genuine scenario more than time periods.
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