The project of housing combined with office at 69 Trieu Khuc Street is built on an area of 2,539m2, with a scale of 16 floors including 2 basements. The total height of the project is 61.80m, with an investment capital of more than 190 billion VND. The project is built according to Construction License No. 1400-2009/GPXD dated December 15, 2009 of Thanh Xuan District People's Committee and Investment Certificate No. 01121001057 dated December 26, 2011 of Hanoi City People's Committee. The investors are Transport Construction and Trading Joint Stock Company (Traco) and CCI Consulting and Investment Joint Stock Company (CCI Company).
According to the Investment Certificate issued by the Hanoi People's Committee, the construction of the foundation and underground parts of the project took place from the first quarter to the fourth quarter of 2012; the project was completed in the first quarter of 2015. In reality, the building began construction in 2009, but after completing the underground part, construction was temporarily suspended. In 2014, the project was resumed, but in 2018, after completing the rough part, construction was stopped again and has been "covered" since then.
Surveying the actual situation, Hanoi Moi Newspaper reporters found that the project at 69 Trieu Khuc Street is located in the middle of a crowded residential area, abandoned for many years, so the outside of the building has many signs of deterioration, with peeling plaster. The building is surrounded by a fence of old, crooked corrugated iron sheets. The sidewalks around the project are used as car parking lots, some people even set up umbrellas to sell drinks, causing crowds, disturbing the order and beauty of the city. In particular, the building's scaffolding system is rusty, still hanging, has not been dismantled or treated, posing a potential safety risk to surrounding structures and passersby, making local residents always worried and insecure. Mr. Nguyen Le Cuong, who lives next to the building, said that there have been incidents of scaffolding falling from the upper floors of the building onto residential houses. In addition, due to being abandoned for a long time, the building is also a place for passersby to defecate, causing environmental pollution.
Providing information and documents to reporters, Vice Chairman of Thanh Xuan Bac Ward People's Committee Nguyen Van Long said that the reason for the project's delay in completion was due to legal documents. Specifically, in 2014, Traco and CCI Company transferred the project to HT Real Estate Joint Stock Company (HT Company), but due to problems with the transfer procedures and the interests of the related parties, the project has been suspended until now. Regarding ensuring safety and environmental sanitation around the building area, the Ward People's Committee held a meeting with the above 3 units and representatives of grassroots officials, requesting in writing that the investor must take measures to ensure safety for the people.
Speaking to reporters, Chairman of the Board of Directors of HT Company Nguyen Anh Tuan said that on April 17, 2014, the parties including Traco, CCI Company and HT Company signed an agreement to transfer the project implementation. Accordingly, HT Company paid the Traco - CCI Company Joint Venture, contractors and related companies more than 20 billion VND so that the unit could continue to build and complete the project. However, later, HT Company realized that its legal rights were not guaranteed, so on December 27, 2014, the parties terminated the above agreement and signed a business cooperation contract with the purpose of HT Company refunding the profit costs to Traco and CCI Company up to that time and HT Company continued to invest in completing the project. Accordingly, as of September 13, 2018, HT Company had transferred more than 45.6 billion VND to Traco; transferred 28.8 billion VND to CCI Company; paid more than 26.9 billion VND in taxes.
However, up to now, the project has been stalled because the project transfer procedures have not been completed because Traco has mortgaged all property rights arising from the Land Allocation Decision No. 2524/QD-UBND on changing the purpose of using 2,539m2 of land to implement the 69 Trieu Khuc Street project at An Binh Bank (AB Bank) and mortgaged the profits earned from business, exploitation of land use rights and assets attached to land... at the 69 Trieu Khuc Street project at Ho Chi Minh City Development Joint Stock Commercial Bank (HD Bank) since 2012-2013. CCI Company and HT Company were not aware of the mortgage of Traco. "On April 14, 2025, we sent a petition to the Hanoi City Party Committee and People's Committee requesting that difficulties be removed so that HT Company can quickly complete the project," said Mr. Nguyen Anh Tuan.
Thus, the reason why the building at 69 Trieu Khuc Street was unfinished stems from the dispute between the original investor and the transferee. However, leaving a building abandoned for many years is a huge waste of resources and land. The parties involved need to quickly resolve the legal procedural obstacles so that the project can be completed and put into use soon.
Source: https://hanoimoi.vn/tai-phuong-thanh-xuan-bac-quan-thanh-xuan-toa-nha-bi-bo-hoang-nhieu-nam-702161.html
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