Khanh Hoa Department of Construction has a written request to the investors of tourism real estate project in the province to comply with the law on tourism real estate business.
Not allowed to sell tourism real estate to foreign organizations and individuals. Illustration picture.
Specifically, the Department of Construction requires investors to note: Tourism real estate is not housing, not governed by the Housing Law 2014. Therefore, when bringing tourism real estate into business, investors must comply with the Law on Real Estate Business 2014, must not sell tourism real estate (tourist apartments, tourist villas...) to foreign organizations and individuals, except for cases of foreign-invested enterprises purchase tourism real estate to serve as business and service strictly according to their utility (according to the provisions of Clause 2, Article 4 of the Law on Real Estate Business 2014). In the course of implementing the project, tourism real estate business, the investor must observe the regime of reporting and providing periodic information about the their project as prescribed in Article 13 of the Decree No.117/2015/ND-CP of November 12th 2015 of the Government on the construction, management and use of housing information system and real estate market.
It is known that at present, in the province there are many tourism real estate projects, concentrated mainly in Nha Trang city and the areas of Bai Dai, Cam Lam and Cam Ranh. Among these projects, there are 129 projects whose investment objectives (stated in the investment certificate, decision approving investment policy) allow investors to sell tourism real estate. See the document of Department of Construction at here.