Why do real estate developers want to legalize condotels? VietNamNet Bridge - Real estate experts believe that selling condotels can bring huge profits to investors and savings in fees that apartment developers usually pay. According to the Ministry of Construction (MOC), there are 148 ongoing condotel projects developed by 52 investors. At the same time, condotel developers have been repeatedly organizing workshops to lobby policymakers for recognizing condotels as a new type of housing. Many investors, when advertising condotels, give unclear information which does not coincide with the purpose of projects approved by state management agencies.