SEMINAR ON IMPLEMENTATION OF LAND LAW 2024, REAL ESTATE BUSINESS LAW 2023, HOUSING LAW 2023

On the afternoon of July 23^rd, DIC Group held a "Seminar on the implementation of the Land Law 2024, the Law on Real Estate Business 2023, the Law on Housing 2023 and its guiding documents".

Mr. Nguyen Quang Tin - General Director of DIC Group chaired the Discussion. Members of the Executive Board; Leaders of Departments, Functional Boards, Project Management Board, Internal Audit Board; Secretariat; Lawyers and Law graduates working at DIC Group were also attending the seminar.

Mr. Nguyen Quang Tin - General Director of DIC Group delivered the opening speech at the Seminar.

Opening the seminar, Mr. Nguyen Quang Tin said: "On June 29^th, 2024, at the 7th Session, the National Assembly passed the Law amending and supplementing a number of articles of laws, whereby the Land Law 2024, the Housing Law 2023 and the Law on Real Estate Business 2023 will take effect from August 1^st, 2024 (instead of having to wait until January 1^st, 2025). The Law on Land 2024, the Law on Housing 2023 and the Law on Real Estate Business 2023 have institutionalized many new guidelines and policies of the Party and State, overcoming the limitations and obstacles of previous laws, and at the same time have many innovative, progressive, individual, organizations in general and real estate businesses in particular are expected to create a driving force for socio-economic development, especially the real estate industry in the new period."

Lawyer Nguyen Thi Thanh Huong - Director of Legal Department of DIC Group introduces the main contents of the Seminar

Next, Lawyer Nguyen Thi Thanh Huong – Director of the Legal Department of DIC Group introduced the main contents of the seminar and shared:

"According to experts, the Land Law 2024, the Housing Law 2023 and the Law on Real Estate Business 2023 are three laws that have a very important role and significance for the development of the real estate market in Vietnam. When the above laws officially take effect from August 1^st, 2024, they will have a positive impact on the real estate market, create a new legal corridor, facilitate legal solutions, resolve difficulties and problems of the market, help the real estate market develop in a safe, healthy and sustainable direction.

From the perspective of real estate businesses, DIC Group needs to pay attention to a number of contents that can directly affect the production and business activities of the enterprise such as:

• The new regulations on land prices, auctions/bidding for land use projects will increase competitiveness, increase land prices and increase project implementation costs.
• The new regulations on real estate business conditions and the capacity of investors are advantages for investors with large clean land funds and strong financial potential.
• The new regulation stipulates that investors can only collect deposits when the real estate has met all the conditions for putting it into business and not more than 5% of the real estate value.
• The regulation on land division and sale is tightened, and the scope of land division and sale ban is expanded to include wards, districts, and urban cities of type II and type III."

At the seminar, lawyers and legal experts of the Legal Department of DIC Group presented and analyzed the outstanding new points of the Land Law 2024, the Law on Real Estate Business 2023, and the Law on Housing 2023. At the same time, the members attending the seminar exchanged, discussed, and evaluated the direct or indirect impacts on the production and business activities of real estate businesses in general and DIC Group in particular.

Lawyer Vu Thi Phuong Thao - Member of the Legal Department of DIC Group presents some new points of the 2024 Land Law.

Through the form of updating, sharing information, recording questions, exchanging and analyzing and answering each specific issue, the seminar disseminated to the employees of DIC Group the new provisions of the law on land, housing and real estate business that affect businesses, helping to improve professional knowledge, contributing to the effective implementation of legal regulations.

Speaking at the conclusion at the seminar, General Director Nguyen Quang Tin emphasized: "From the perspective of real estate businesses, the Land Law in 2024, the Housing Law 2023 and the Real Estate Business Law 2023 are the legal foundation for a new stage of development of the real estate market. Therefore, Departments and Divisions of DIC Group need to proactively update and focus on research to effectively apply professional work, help open up capital flows, accelerate legal progress, and invest in projects invested by DIC Group".

Media and Communication Department