HCM City may fail in old apartment restoration targetHCM City may fail to reach the target to restore 50% out of the city’s total old apartment building number of 474, according to the municipal Department of Construction. Bui Vien old apartment building in HCM CityDuring the 2007-2017 period, HCM City could only dismantle 32 old apartment buildings which have seen the quite slow pace of being upgraded. HCM City Department of Construction said that at present around 15 old apartments in the city face serious deterioration. Districts 5 and 10 account for the highest number of old apartment buildings, most of them located in populous areas. Experts said that the city must show how investors – who rebuild apartment buildings -can benefit by offering them incentives to attract them.

Source: VietNamNet News March 17, 2018 18:11 UTC