Deputy proposes letting developers collect property deposits earlier

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• National Assembly deputy: Developers should be allowed to receive property deposits earlier

  National Assembly deputy Bùi Xuân Hải proposes letting property developers collect deposits on future properties earlier, once basic legal procedures are completed, including investment policy approval, a 1/500 detailed planning approval and a construction permit, rather than waiting until construction begins. The current draft Law on Real Estate Business keeps the 5% deposit cap and requires that the project has started construction or holds construction documents, which he considers unreasonable. He suggests placing deposits in blocked bank accounts to protect buyers and tightly controlling cash flows among companies within the same ecosystem. The Banking Association and Vingroup have also proposed earlier deposit collection, while deputy Phạm Hùng Hưng calls for mandatory notarization of future property deposit contracts.

  VnExpress·22/10, 08:16▲ DIG▲ DXG▲ HDC▲ KDHreal estateregulationVingroup
• Holding 20% of a 9,170-hectare Hanoi megaproject, VinFast leadership comments on possible expansion into real estate

  VinFast completed the purchase of 100% of the economic interest in Ngọc Hồi Real Estate Investment JSC from Phạm Nhật Vượng and two minority shareholders, giving it a 20% stake in the roughly 9,170-hectare Global Sportia project in Hanoi, while Vinhomes holds 35%. Management says the investment could add profit and cash flow from 2027 and does not signal a strategic shift into real estate. In Q2 2026, revenue reached VND 30,300 billion, up 85% year on year, and the net loss narrowed to VND 1,400 billion thanks to liquidation gains from the VFTP transfer, though the gross margin remained at -63%. Third-party borrowings fell to VND 21,800 billion from VND 82,200 billion at end-2025, mainly because VFTP was no longer consolidated. Mr. Phạm Nhật Vượng also contributed an additional VND 20,000 billion in capital in Q3, while Vingroup's outstanding loans to VinFast reached VND 17,400 billion at end-Q2.

  CafeF·22/10, 09:10real estateVingroupVinFast
• Owner of Southeast Asia's largest exhibition centre reports profit nearly doubling

  VEFAC, a Vingroup subsidiary, reported third-quarter after-tax profit of nearly 324 billion VND, up 94% year on year, mainly from transferring some investment properties, including schools in a project, to partners. Quarterly revenue reached nearly 77 billion VND, up more than 67%, with trade fairs and exhibitions contributing over 64 billion VND; financial income exceeded 388 billion VND, and financial expenses fell 95% to 5 billion VND. For the first nine months, revenue was 586 billion VND and after-tax profit 865 billion VND, down 98.7% and 93% respectively from a year earlier. As of 30 September, total assets exceeded 31,900 billion VND, up nearly 36% from the start of the year, including nearly 13,000 billion VND in loans to partners at 12% annual interest. The company had 1,360 billion VND in financial debt, all of it long-term.

  VnExpress·22/10, 04:53earningsVingroupreal estate
• 'Firms That Have Not Fully Paid Land Fees Should Be Allowed to Transfer Stalled Projects'

  Nguyễn Thị Việt Nga, deputy head of the Hải Phòng delegation to the National Assembly, proposed letting businesses that have not fully paid land fees transfer unfinished projects, so frozen resources can return to the economy. Draft Article 30 of the amended Real Estate Business Law requires investors to complete land financial obligations before transferring all or part of a project. Nga agrees with the rule, which prevents debt write-offs through transfers, but says investors that lose or seriously weaken financial capacity need a solution, as stalled projects tie up land and credit. Her proposal allows the buyer to take over outstanding obligations, subject to the authority confirming the amount, the buyer proving financial capacity, and the balance being paid from the transfer price into the budget, with no debt write-off. Bùi Xuân Hải, rector of Hải Phòng University, backs a similar approach but asks for written commitments on deadlines for meeting obligations to the State.

  VnExpress·22/10, 05:47• VNINDEXreal estateVietnamregulation
• Proposal to withhold 5% of bank-held home purchase payments until buyers get red books before paying developers

  Justice Minister Hoàng Thanh Tùng presented to the National Assembly on October 22 a draft amended Law on Real Estate Business with 10 chapters and 61 articles. Under the draft, developers could not collect more than 95% of contract value until buyers receive land-use right and property ownership certificates, and the remaining 5% would sit in an account at a credit institution, going to the developer only after certification or once the buyer agrees to handle the procedures; buyers would keep any interest earned. The draft would also let provincial People's Committee chairs approve transfers of all or part of projects that the Prime Minister approved in principle. The Economic and Financial Committee asked that the law set principles for managing the 5% and handling risks, and clarify the “voluntary” element.

  CafeF·22/10, 05:36• VNINDEXreal estateregulationhousing
• Amended Law on Real Estate Business: Seven business conditions and four administrative procedures cut

  The draft amended Law on Real Estate Business submitted to the National Assembly proposes cutting 4 of 12 administrative procedures and 7 business investment conditions. The draft has 10 chapters and 61 articles, 22 fewer than the 2023 law, and adds a real estate transaction framework and a mechanism placing the remaining 5% of future-property contract value in a blocked account or as agreed by the parties. It also expands the types of transferable contracts and lets provincial People's Committees approve transfers of whole or part of projects. The Committee for Economic and Financial Affairs supports the amendment but asks for refinements, including rules for managing the 5% sum and handling risks, clarification of the “voluntary” element in buyer-led certificate applications, and consideration of project transfers when developers lack capacity.

  CafeF·22/10, 04:55▲ DXG▲ DIG▲ DXS▲ KDHreal estateregulationVietnam

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