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The 2024 Land Law will officially take effect on August 1, 2024. According to this, the amended Land Law, Housing Law, Real Estate Business Law, and Credit Institutions Law 2024 comprise 5 articles, allowing the 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law to come into force from August 1, 2024.

Specifically, the Law stipulates amendments and supplements to several provisions of the 2024 Land Law as follows:

Amend and supplement Clause 2, Article 251: Repeal Resolution 132/2020/QH14, which piloted certain policies to resolve issues in the management and use of national defense and security land combined with labor production activities and economic construction, effective from January 1, 2025.

Amend and supplement Clause 1, Article 252: The 2024 Land Law will come into effect on August 1, 2024.

Amend and supplement Clause 10, Article 255: For investment projects where land allocation or lease was not conducted through the auction of land use rights according to the 2013 Land Law, related laws, and is consistent with land use planning and plans but has not yet been allocated or leased, they can continue with the subsequent steps in the land allocation or lease procedures to allocate or lease land to investors if they meet one of the following conditions: Projects that have selected investors in accordance with investment laws, housing laws, and bidding laws from July 1, 2014, to before August 1, 2024; or projects where investors have submitted valid documents to carry out investor selection procedures before August 1, 2024, and have selected investors before January 1, 2025.

At the same time, the Law also amends and supplements:

• Clause 1, Article 197 of the 2023 Housing Law;
• Clause 1, Article 82 of the 2023 Real Estate Business Law; and
• Clause 2, Article 209 of the 2024 Credit Institutions Law,

which will all take effect from August 1, 2024.