HCM CITY — HCM City is stepping up efforts to remove obstacles facing hundreds of stalled projects, aiming to unlock land and investment resources as real estate business revenue rose by 10.8 per cent in the first 10 months of 2026.

Of 921 projects under review, the city has resolved obstacles for 361, while the remaining 560 are still awaiting solutions, according to figures released by HCM City Statistics.

City leaders have directed relevant departments and agencies to resolve 60 per cent of the remaining projects by the end of 2026 and develop specific solutions for the other 40 per cent, according to local media reports.

The effort is aimed at getting delayed projects back on track, putting land and capital to productive use and supporting the city's economic growth.

Real estate business revenue reached an estimated VNĐ373 trillion (US$14.2 billion) in the first ten months, up 10.8 per cent year-on-year.

The sector accounted for more than 56.6 per cent of revenue from other services.

Revenue from retail sales of wood and building materials exceeded VNĐ97 trillion, an increase of 28 per cent, reflecting stronger activity in construction and home improvement.

State revenue from housing and land totalled nearly VNĐ78.9 trillion, up 20 per cent from a year earlier. Revenue from land-use funds reached VNĐ30.7 trillion, a 51 per cent increase, equivalent to about 43 per cent of the annual target.

Economist Lê Bá Chí Nhân said the increases in real estate business revenue and land-related state revenue indicated signs of recovery in the city’s property market.

However, the figures did not necessarily mean that the market had entered a sustained recovery, he said.

Removing obstacles for delayed projects could release land and investment capital that had been tied up, while creating more business for construction companies, building-material suppliers and related services.

Nhân said the city should classify projects according to the nature of their problems, including planning, land procedures, legal requirements and financial obligations, rather than applying the same approach to every case.

Relevant departments should coordinate more closely, with clear responsibilities and deadlines for handling each group of projects, he said.

He also stressed that resolving legal problems should lead to actual project implementation and the delivery of housing to the market, particularly affordable homes and social housing.

The city is seeking to speed up the process so that delayed investment can resume, land resources can be used more efficiently and the property sector can make a stronger contribution to economic activity. — VNS