Ta Van Trung, Director of Song Da 1.01 Joint stock Corporation, said that though interest rates have been cut, real estate developers still cannot get loans due to too many procedures.
“Banks ask too many questions, like about the expected date of project completion, about expected profit and clients,” Trung said.
“In general, banks prioritise funding projects in inner cities. But how many enterprises have land plots in inner cities to develop projects,” he asked.
