Dragon Lawfirm - Reporting regime in real estate investment projects
On July, 31, 2013, the Ministry of Construction issues the Circular No. 11/2013/TT-BXD promulgating the reporting regime on construction and business in real estate investment projects.
Accordingly , the Ministry of Construction requires the Investors of real estate projects, Management Boards of industrial parks, industrial clusters; Management Boards of urban development zones which are established by State to include contents in the report as follows: general report on basic information of real estate projects in localities: Reporting basic content of project under the written approval for investment, certificate of investment or decision on investment permission of competent state agencies. When projects have adjustments or supplementations, the investors of real estate projects shall make reports supplementing the adjusted contents; Report on carrying out investment in construction of projects; report on business status at project; report on ending investment in construction of projects: report on major content of projects after having finished the investment in construction.
In the case that Investors of real estate projects who fail to report or report improperly with the time limit, report with the incorrect or insufficient content for the first time, the local Construction Departments shall send document for reminding to investor; for the second time: To publicize information of violations on website of the Ministry of Construction, websites of the provincial People’s Committees, websites of the local Construction Departments where implement the real estate projects and notify to investors (if any). Concurrently, sanction administrative violation prescribed by law.
This Circular takes effect on October 01, 2013.
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