Hanoi: Lawmakers discussed at the hall a draft resolution on piloting a commercial housing project through land use rights transfer agreements at the ongoing 15th National Assembly’s eighth session on November 21.

According to Vietnam News Agency, the initiative aims to address the challenges in the real estate market by facilitating easier access to land for commercial housing projects. This pilot project is seen as a significant step towards unlocking the potential of the realty market, which has been facing various constraints due to existing regulations on land use rights.

The draft resolution proposes a framework where developers can engage in land use rights transfer agreements, potentially streamlining the process of acquiring land for housing projects. This is expected to not only boost the availability of housing but also stimulate economic growth by attracting investments into the real estate sector.

The National Assembly’s session saw active participation from various stakeholders, including la
wmakers and industry experts, who provided insights and feedback on the proposed initiative. The discussions highlighted the need for a balanced approach that considers both the interests of developers and the rights of landowners.

As the session progresses, further deliberations are anticipated to refine the resolution, ensuring it aligns with national development goals and addresses the housing needs of the population. The outcome of this initiative could set a precedent for future policies in the real estate market.