What is the definition of "real estate project " in Vietnam? What is a contract for real estate trading?

Pursuant to Article 3 of the Decree 02/2022/ND-CP (takes effect from 01/03/2022) stipulating as follows:

What are the types of real estate to be put on the market in Vietnam? What is the definition of "real estate project " in Vietnam?

Real estate to be put on the market refers to houses/construction works on land and types of land the land use rights thereof are permitted to be transferred, leased, or sublet as prescribed in Article 5 of the Law on Real Estate Trading 2014 (hereinafter referred to as the Law on Real Estate Trading).

Real estate project means a construction project that is formulated, appraised, and approved as per the construction law. Real estate projects include: projects on building houses and construction works; projects on building infrastructure to transfer or lease land use rights, in accordance with the provisions of law.

What is a contract for real estate trading?

Contract for real estate trading is a written agreement between an enterprise or cooperative that is fully eligible for real estate trading as prescribed in Article 4 of this Decree and an organization, household, individual on the establishment, change, termination of rights and obligations in the activities of buying, selling, leasing, leasing with option to purchase houses and construction works, transfer, lease, sub-lease of land use rights, transfer of land use rights, transfer of the whole or part of a real estate project and with the forms prescribed in this Decree.

What is the defintion of "transfer of the entire real estate project" and "transfer of a part of a real estate project"?

Transfer of the entire real estate project means that the investor transfers the entire real estate project and the lawful rights, obligations and interests of the investor and related parties (if any) in relation to that project to the transferee through a contract made in writing according to this Decree and approved by a competent authority.

Transfer of a part of a real estate project means that the investor transfers a part of a real estate project permitted to be put on market and the lawful rights, obligations and interests of the investor and related parties (if any) in relation to that transferred part of project to the transferee through a contract made in writing according to this Decree and approved by a competent authority.

Transfer of a contract for purchase/lease purchase of a house or construction work means the Tenant/Buyer transfers all rights, responsibilities, and obligations under the contract of purchase/lease purchase of the house or construction work to another organization or individual through a contract transfer document made in accordance with this Decree.

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