According to Law on Real Estate 2014, Foreign-invested enterprises (“FIE”) may conduct real estate business in the following forms:
Real Estate Business by   Foreign Invested Enterprises 
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Rent houses, buildings for sublease 
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Build houses on the land which is leased by   the State for lease; build buildings or constructions other than houses on   such land for sale, for lease, or for lease purchase 
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Receive total or a part of real estate   project from investors to build buildings on it for sale, for lease, or for   lease purchase; 
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Build buildings on land which is leased   from organizations, households or individuals for lease according to proper   land use 
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Build houses on land which is allocated by   the State for sale, for lease, or for lease purchase 
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Build buildings on land which is leased out   or transferred in industrial parks, industrial complexes, export-processing   zones, hi-tech zones, or economic zone for trading for the proper land use 
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