The State Securities Commission (SSC) has requested VPS Securities Company to cease all activities related to the distribution or subdivision of real estate with a capital of 10,000 VND or more for sale to investors. This information was announced by SSC Vice Chairman Bui Hoang Hai at the Ministry of Finance 's regular press conference on the afternoon of June 18th.
The State Securities Commission (UBCKNN) has requested a halt to the real estate investment model that divides capital into 10,000 VND portions (Illustrative image).
Regarding information on the practice of splitting real estate values, Mr. Bui Hoang Hai stated that current securities law does not have any specific regulations on this method of real estate investment. However, the State Securities Commission has received relevant information and assesses this as a type of investment with considerable risks.
Recently, a form of real estate fractional ownership has emerged through a collaboration between VPS Securities Company and Fnest Joint Stock Company. Under this scheme, the value of real estate is divided into investment shares, known as "Fnest". In each offering, one Fnest has a primary face value of 10,000 VND.
With this model, a property valued at 10 billion VND will be divided into 1 million Fnest shares. Investors can purchase smaller portions, thereby benefiting from the property's value appreciation and related exploitation and management activities.
According to Mr. Bui Hoang Hai, after receiving the information, the State Securities Commission held a meeting with VPS and requested the company to cease all activities related to distributing shares or subdividing real estate for sale to investors.
In response to further clarify this point, Deputy Minister of Finance Nguyen Duc Chi emphasized that the services provided by securities companies must be within the scope of their licensed business activities. According to Mr. Chi, activities outside this scope will have to be stopped for a comprehensive assessment by the regulatory authorities.
Source: https://nld.com.vn/uy-ban-chung-khoan-len-tieng-ve-mo-hinh-dau-tu-bat-dong-san-chia-nho-voi-von-tu-10000-dong-196240618205428212.htm
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