VietNamNet Bridge – Many
localities considered the “paradise of resort real estate”, have granted a lot
of investment licenses. However, the investors only registered the projects to
reserve the land,  as many do not have
the capability to implement them.

Throughout
2011, The Ministry of Planning and Investment will send its inspectors to six
provinces with the largest number of registered resort projects

Too
many golf course projects

Binh
Thuan, a small province with low income per capita, has recently been known for
12 licensed golf course projects.

According
to the provincial investment and planning department, besides the two
operational golf courses, other projects have not been implemented. These
include South Fork (182.5 hectares) licensed in 2004, Hon Rom (197 hectares)
licensed in 2007, Son My in 2006 which have been delayed due to the influences
of the black sand. Other projects are in their first stage of implementation.

Of
the 7000 hectares originally allocated only 1800 hectares have been reserved
for golf courses, while the other 5200 hectares have been used for villas. If
all the licensed projects in Binh Thuan become operational, there will be 2000
villas on sale located next to golf courses .

In
the past, the Government itself approved golf course project. However, after
the decentralization, local authorities have the right to issue licenses. As
the result, the number of golf course projects has increased considerably.

Pending projects – the bitterness of
local authorities

Meanwhile,
the North Cam Ranh peninsula tourism complex is giving the authorities in Khanh
Hoa province a real headache. When approving the project in 2004, which was
expected to cover an area of 2300 hectares, the province’s authorities hoped it
would boost the local economy and become a national resort. After calling for
investment at the rate of 25 billion dong per hectare, 58 investors registered
to develop sub-projects. However, later many of them withdrew. In 2007, the
province had to revoke 27 licenses from the delayed the sub-projects.

To
date, the North Cam Ranh complex has 30 sub-projects capitalized at 17 trillion
dong in total. Of these projects, only five have been granted construction
licenses, while the rest are still dealing with investment procedures. There
are now over 80 tourism projects in Khanh Hoa province with the total
investment capital of 30 trillion dong.

Meanwhile,
Khanh Hoa    is paying the cost of having
torn big land plots into pieces   for small
investors, who only register to get the land use right. Meanwhile, Khanh Hoa
cannot accommodate big investors who demand hundreds of hectares of land,
because it is stilling settling the pending projects.

The project “indigestion”

The
central city of Da Nang
is known as a very hot real estate market. However, experts warn about the
disastrous consequences of the land and resource waste and environment
pollution.

Twenty
resort projects have been developed along the coastal road in Da Nang City.
Of these, 14 are going to market about 650 villas. In the next 5-7 years, 20
projects with 9300 apartments will be launched into the market.

Quang
Ninh province in the north with 64 resort projects, will also be one of the
destinations of inspectors in 2011

Source: Dau
tu