The Legal Difficulties of Metro Star Project Have Been Cleared, All Hard Things Shall Pass

HO CHI MINH CITY, Vietnam, May 17, 2024 (GLOBE NEWSWIRE) - On April 3rd, the People's Committee of Thu Duc City approved the Decision to approve the updated investment policy and investment approval for the Metro Star project.

According to Decision No. 4498/QD-UBND dated April 3, 2024, the Metro Star project at 360 Vo Nguyen Giap Boulevard (Thu Duc City) has a maximum height of 30 floors and 3,453 residents. Previously, in Decision No. 1757/QD-UBND dated May 8, 2019, the project was also approved by the City People's Committee with 1,467 apartments in Ho Chi Minh City's housing development.

This is great news not only for the investors but also for the contractors, housing agencies, staff, and workers who have patiently waited through multiple rounds of documentation for 3 years at various Departments, Inspectorates, Auditors, and the Ho Chi Minh City People's Committee until being handed over to the Thu Duc City People's Committee since August 2023 to sign under the decentralization of Decree 98.

"We have been anticipating this Decision for many years. The difficulties will soon pass..." - A representative of the Metro Star project investor shared.

Metro Star project

It is known that Metro Star, developed by Metro Star Investment Corporation with meticulous preparation over the past 18 years, is one of the first projects in more than 50 Green TOD projects located adjacent to major metro stations along 8 metro lines in Ho Chi Minh City. Metro Star project is currently highly appreciated by the market thanks to its many advantages from its prime location right at the intersection of Vo Nguyen Giap Boulevard - the most beautiful boulevard in Thu Duc City, with a pedestrian bridge directly connecting to Binh Thai metro station (metro line 1). From here, it only takes 10 minutes to reach the center of District 1. At the same time, the building design, imbued with the green architectural style of Singapore, has helped Metro Star win the "Best Mixed-Use Architecture Design Vietnam 2022" award.

This year, the supply of apartments is super low due to legal barriers. Therefore, the observers of the industry anticipate that the launch of Metro Star will be very special and highly anticipated throughout the year...

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