According to the Department of Construction of Dong Nai province, immediately after the Lao Dong Newspaper reported the scandal at the Gem Sky World project invested by Ha An Real Estate Investment and Trading Joint Stock Company (Ha An Company - a member company of Dat Xanh Group) and the distributor is Dat Xanh Real Estate Services Joint Stock Company (Dat Xanh Company), the department invited a representative of Ha An Company to work on the content of handling administrative violations in real estate business.
Ultimatum for Ha An Company
The results of the investigation determined that Ha An Company had documents linking companies, such as signing a real estate brokerage service contract at the Gem Sky World project with Dat Xanh Company; agreements between Dat Xanh Company and the bank. Specifically, according to the companies' reports, there were consulting transactions and deposit agreements with 2,303 customers (2,303 products of the project) for the purpose of mobilizing capital to implement the project when the real estate was not yet qualified for business.
A representative of the Department of Construction of Dong Nai province said that this was an act of capital mobilization that was not in accordance with regulations, violating the law on real estate business. Based on the administrative violation record established by the Department of Construction Inspectorate and related records and documents, the Department of Construction has proposed that the People's Committee of Dong Nai province impose a fine of VND900 million for the act of capital mobilization that was not in accordance with regulations on Ha An Company.
"Within 360 days from the date of receiving the penalty decision, Ha An Company must return the capital mobilized in violation of regulations. After the above deadline, if Ha An Company fails to return the capital mobilized in violation, it will be forced to apply remedial measures" - informed the representative of the provincial Department of Construction.
Along with the strong participation of the Department of Construction, the Department of Natural Resources and Environment (TN-MT) of Dong Nai province also immediately organized a dialogue right after the Lao Dong Newspaper reported. At the dialogue, Mr. Vu Minh Canh (residing in Bien Hoa City, Dong Nai Province) and other customers requested the investor and project development unit to make a commitment on the time of handing over the house and land use right certificate (GCNQSDÐ); sign a consulting agreement with a commitment on the level of interest support for customers; not collect project progress money, interest during the project extension period...
In response to the above requests, Mr. Nguyen Chi Nghiem (legal representative of Ha An Company) and Ms. Pham Thi Nguyen Thanh (legal representative of Dat Xanh Company) committed on a small piece of paper stating: "On October 31, 2023, there will be an invitation letter to customers of the Gem Sky World project to officially respond to customers with a solution to the mentioned issues".
However, to ensure the interests of customers, the chair of the dialogue - Ms. Vo Niem Tuong, Chief Inspector of the Department of Natural Resources and Environment of Dong Nai province, said that investors, project developers and customers need to sit down to review and resolve any problems in the terms that everyone has signed to ensure the interests of all parties.
In particular, the leader of the project development unit, Dat Xanh Company, needs to classify customer groups, contact the bank to have an official meeting, answer customer concerns, and, if necessary, create a new contract appendix.
On the investor's side, it is necessary to fully record the customer's recommendations and requests and respond in writing. "After today's meeting, we will report to the department leaders and the provincial People's Committee for handling in accordance with the authority and regulations of the law," Ms. Tuong emphasized.
Many customers who bought land at the Gem Sky World project in Long Duc commune, Long Thanh district, Dong Nai province are hoping the investor will fulfill its commitment. Photo: NGUYEN TUAN
Early warning to avoid consequences
Regarding the Roxana Plaza project (Thuan An City, Binh Duong Province; Tuong Phong Company is the investor), Ms. NKD (35 years old, in Thuan An City) said that right after the Lao Dong Newspaper reported, the investor invited customers to the People's Committee of Vinh Phu Ward, Thuan An City several times to work to resolve the problems. "The previous times, the business did not have goodwill when only sending staff to talk to customers, hopefully this time it will be better and make specific commitments" - Ms. D. hoped.
In addition to working with relevant agencies to handle the case at the Roxana Plaza project, Chairman of the People's Committee of Thuan An City Nguyen Thanh Tam emphasized that with the reflections from the press agencies related to the promotion and marketing activities of products, land, and apartments in projects with signs of violations, the locality has introduced many measures to prevent and avoid violations. The city has issued many documents requesting the locality to strengthen inspection and supervision in the real estate sector.
On the other hand, there are measures to advise and warn people to identify and not conduct transactions when the project is not legally complete and to publicly disclose information and progress of projects in the area. "This will help minimize damage to customers when deciding to buy real estate in the future," Mr. Tam emphasized.
Mr. Le Quang Vinh, Head of the Housing and Real Estate Market Management Department of the Department of Construction of Binh Duong province, emphasized that the regulation allowing parties to sign loan contracts, deposits, collateral... in the conclusion of future contracts is a loophole for investors to sell "green rice" projects, pushing risks onto customers.
According to Mr. Vinh, most of the projects selling "green rice" often have in common that the legal documents have not been completed, and some projects have even been advertised for sale without completing the site clearance. Meanwhile, the types of contracts that these investors use to sell are capital contribution contracts, loan contracts, deposit contracts, etc.
"Therefore, before signing contracts with investors, customers need to carefully research the investor's reputation and capacity, the project's current legal documents and the actual construction progress of the project. Please note that the Department of Construction has announced projects that are eligible for sale," Mr. Vinh advised.
Mr. Vinh also said that the Department of Construction of Binh Duong province has issued a document on strengthening state management and coordinating inspection, review and handling of violations, assigning the People's Committees of districts, towns and cities to regularly inspect real estate brokerage activities in the area, promptly grasp the situation, detect and handle from the beginning organizations and individuals who transfer, advertise and promote products of projects when they do not meet the legal conditions on land and real estate business.
"Localities must update real estate projects that are eligible for capital mobilization and transfer that have been announced by the Department of Construction and posted on the department's website to provide information to organizations and individuals who want to buy, sell, or transfer in order to avoid risks and legal consequences later," Mr. Vinh requested.
In particular, according to Mr. Vinh, the Department of Construction also requested the Department of Natural Resources and Environment, the Department of Planning and Investment, and the Department of Finance to review and evaluate the legal documents of real estate projects to propose revoking the projects if the investors do not have the capacity to implement or adjust the scale of the project area due to compensation and clearance problems and solutions to support investors to speed up the project progress...
According to the Department of Construction of Dong Nai province, during the working process, Ha An Company agreed with the content of handling administrative violations for the act of capital mobilization not in accordance with regulations and committed to implementing remedial measures as required.
What does Dat Xanh Group say?
Responding to a reporter from Nguoi Lao Dong Newspaper, a representative of Dat Xanh Group admitted the delay in handing over land use rights certificates to customers at the Gem Sky World project.
According to Dat Xanh Group, the investor (Ha An Company - a member company of Dat Xanh Group) is speeding up the progress, completing the construction of social infrastructure at the project to be eligible for transferring land use rights, ensuring the rights of customers. The final items of the social infrastructure project such as 2 kindergartens, a medical station, and a shopping center are in the final stages of construction, expected to be completed in October 2023.
"After completing the construction of the remaining social infrastructure works, the investor is expected to complete the transfer of land use rights to customers in the second quarter of 2024. To accompany customers, the investor has issued a payment plan for support payments, and at the same time pay additional interest and deduct it from the payment period to receive the handover of the land use right certificate to customers" - said a representative of Dat Xanh Group.
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