Hòa Bình Exposes Unapproved Real Estate Projects, Warns of Risks in Buying Land
The Hòa Bình Construction Department has recently made public information regarding real estate projects that have not yet met the requirements for capital mobilization, transfer, and sale within the province. The department also issued a warning about the risks involved in buying undeveloped land in these projects by the first quarter of 2024.
Unapproved Projects in Hòa Bình
According to the list provided, there are 12 projects in Hòa Bình that have selected investors and signed contracts for project implementation, but have not yet met the requirements for capital mobilization, transfer, and real estate business. These projects include:
- Residential area and resettlement in Đồng Trám, xóm Miều, Trung Minh commune, covering an area of 3.37 hectares (Investor: Geleximco Group)
- New Hòa Bình Urban Area – GELEXIMCO in Thịnh Lang and Tân Hòa wards, covering an area of 31.2 hectares (Investor: GELEXIMCO Group – Hanoi General Investment Corporation)
- Trung Minh GELEXIMCO ecological residential area in Trung Minh commune, Hòa Bình city, covering an area of 59.84 hectares (Investor: GELEXIMCO Group – Hanoi General Investment Corporation)
Image: Hòa Bình exposes unapproved real estate projects, warning of risks when buying undeveloped land.
Other projects in Hòa Bình include the residential area in Thái Bình ward, covering an area of 0.878 hectares (Investor: Gia Ngân LLC and Sơn Tây Construction and Trade Joint Stock Company), Thịnh Lang residential area in Hòa Bình city, covering an area of 16.95 hectares (Investor: SUDICO – SUDICO Hòa Bình), and Phương Lâm residential area, covering an area of 13.15 hectares (Investor: Sao Vàng Construction Joint Stock Company).
Projects in other areas have also been affected. In Kỳ Sơn district, there are two projects: Thăng Long Xanh residential area in Phúc Tiến commune, covering an area of 99.86 hectares (Investor: Thăng Long Land Joint Stock Company, Thành Hưng Construction Joint Stock Company, and An Thịnh Urban Development Joint Stock Company) and Đảo Ngọc luxury resort in Dân Hạ commune, covering an area of 35 hectares (Investor: Xanh Kỳ Sơn Investment Development Joint Stock Company and TELIN Corporation).
In Lương Sơn district, there are five projects, including Suối Sếu residential area in Nhuận Trạch commune, covering an area of 1.02 hectares (Investor: Phúc Nguyên No.1 Vietnam Joint Stock Company – Thăng Long LLC), Việt Xanh Eco Village in Tân Vinh commune, covering an area of 49.9 hectares (Investor: Saigon Real Estate Joint Stock Company), and an integrated residential and resort area in Tiểu khu 1 and Tiểu khu 2, Lương Sơn town, covering an area of 8.71 hectares (Investor: IUC Corporation and Construction Joint Stock Company No. 7).
It is crucial to note that there are strict legal requirements for these projects before they can commence business activities.
Cautionary Advice
The Hòa Bình Construction Department advises the public not to engage in transactions involving real estate projects that have not met the legal requirements for business operations. Before participating in any real estate transactions, it is recommended to research the project’s information available on the Hòa Bình Construction Department’s website (http://soxaydung.hoabinh.gov.vn) and the Hòa Bình provincial government’s website (http://hoabinh.gov.vn). Additionally, individuals can contact the Housing and Real Estate Market Management Division at the Hòa Bình Construction Department for accurate information.
Image: Hòa Bình warns against trading unapproved real estate projects, advising individuals to be cautious.
The Hòa Bình Construction Department emphasizes that organizations and individuals who have evidence of deposit contracts between customers and investors should provide such information to the Hòa Bình Construction Department and relevant authorities (such as the provincial police, Department of Natural Resources and Environment, and local authorities where the projects are being advertised). This is necessary to ensure compliance with legal regulations.
The department suggests that the Department of Information and Communication publish information about unapproved projects and approved projects available for transfer, capital mobilization, and real estate sales on the Hòa Bình Provincial Government’s website. Moreover, district governments should also publish such information on their respective websites to protect the interests of organizations and individuals involved in real estate trading within Hòa Bình province.