Real estate company in Ho Chi Minh City is being investigated, people cry for help because they "paid"

(Dan Tri Newspaper) - Many residents who had invested in land plots in the Hai Yen residential area are appealing to the Ho Chi Minh City People's Committee for help after the project owner was prosecuted and declared unable to fulfill the contract.

Vice Chairman of the Ho Chi Minh City People's Committee, Bui Xuan Cuong, has directed the Department of Construction and the Department of Natural Resources and Environment to study and resolve citizens' requests related to the Hai Yen residential area project (Binh Hung commune, Binh Chanh district, Ho Chi Minh City).

The Department of Construction is tasked with monitoring and compiling the results of resolving difficulties and obstacles at the project, and proactively reporting to the Ho Chi Minh City People's Committee; in case any difficulties or obstacles arise that are beyond its authority, it should propose specific solutions.

The Hai Yen residential project has been underway for over 20 years, but to this day, land buyers have not been issued land titles or allowed to build houses (Photo: Ngoc Tan).

Previously, a group of citizens in Ho Chi Minh City sent a petition to the Ho Chi Minh City People's Committee and the Prime Minister 's Task Force to explain that they had purchased land plots in the Hai Yen residential project many years ago but had not been able to complete the procedures to build houses.

In their complaint, the group of customers stated that they purchased land plots in the Hai Yen residential area through a capital contribution contract and received the land plots as building materials for housing construction.

The project has been underway since 2001, but to date, the investor, Phi Long Urban Development Investment Joint Stock Company (Phi Long Company), has not completed the project to provide clean land for customers.

Landowners in the Hai Yen residential area erect stakes and hang nameplates on their plots to establish ownership (Photo: Ngoc Tan).

"According to the contract we signed with the company, the deadline for handing over the land for house construction is 24 months. The company has collected 95% of the contract value from us. However, the deadline has passed, and we have not received the land plots to build our houses," the residents stated in their petition.

In June 2020, Phi Long Company was investigated. Since then, the company has still not fully completed the legal procedures for the project; it has not paid land use conversion tax, and has not continued construction of the project's infrastructure, causing significant losses to land buyers.

"Our group has also met with Phi Long Company many times, but nothing has been resolved because the company currently lacks the funds to continue the project," said the land buyer.

The land for the Hai Yen residential project has been abandoned, with grass growing all over the pathways for many years (Photo: Ngoc Tan).

After years of pleading for help without resolution, the group of customers petitioned the leaders of Ho Chi Minh City to consider allowing Phi Long Company to continue the remaining part of the project. The customers agreed to contribute additional money to allow the investor to complete the project and finalize the legal documents and transfer land use rights.

Source: https://dantri.com.vn/bat-dong-san/cong-ty-dia-oc-o-tphcm-bi-dieu-tra-nguoi-dan-keu-cuu-vi-trot-xuong-tien-20250318160543711.htm