Realty firms criticize list of property projects in debtMany property firms have dismissed as inaccurate the HCMC Department of Natural Resources and Environment’s list of 77 half-done real estate projects in which developers or buyers have used their properties as collateral for bank loans. The list, which contains many top property companies and some high-profile projects, is aimed at protecting those involved in real estate transactions. Earlier, the city government asked relevant agencies and departments to publish information about mortgaged real estate projects. Many homebuyers have used their houses as collateral for bank loans but the investors of housing projects were mentioned in the list instead. Another firm told the Daily that the Law on Real Estate Business allows eligible investors to get bank loans to implement their projects.

Source: VietNamNet News July 28, 2016 17:48 UTC