Monday, December 10 2018

VietNamNews

HCMC warns of real estate companies' illegal acts

Update: November, 22/2017 - 09:03
The HCM City Real Estate Association also issued a warning about inaccurate information about the two companies, which claim they are investors in certain housing projects. The companies sold housing plots illegally and collected deposits from customers.– Photo thangloigroup.vn

HCM CITY – The HCM City Department of Natural Resources and Environment on Monday issued a warning to customers and secondary real estate investors about illegal activity of Alibaba Real Estate Joint-Stock Company and Alibaba Tây Bắc HCMC Joint-Stock Company.

The HCM City Real Estate Association also issued a warning about inaccurate information about the two companies, which claim they are investors in certain housing projects. The companies sold housing plots illegally and collected deposits from customers.

The city’s Tây Bắc Urban Area management board also sent a document to the city’s People’s Committee about Alibaba Real Estate’s illegal sales of land plots.

The management board said the project was among 133 projects announced at an investment promotion conference in HCM City on October 11.

The housing project, covering more than 92 ha, is located in the Tây Bắc urban area in Củ Chi District’s Tân Phú Trung Commune.  It is expected to provide healthcare and other urban services.

However, site clearance and compensation have not been completed, and technical infrastructure has not been built.

Traffic infrastructure projects connecting it with surrounding areas are still waiting for investors.

In addition, the project does not have 1/500 scale detailed planning, so it is impossible for any company to have a map and divide the land into smaller plots for sale.

The city’s People’s Committee has not completed the procedures to choose the investor, so the Alibaba companies have no right to call themselves investors and sell plots or collect deposits.

The city’s Department of Construction has begun inspections of Alibaba Company and its misconduct.

After the city’s warning, Alibaba Real Estate JSC issued an apology letter to customers and secondary real estate investors.

The company has also illegally sold land plots at projects in the provinces of Đồng Nai, Bà Rịa – Vũng Tàu, Bình Dương and Long An. 

The headquarters of Alibaba Real Estate JSC and Alibaba Tây Bắc HCMC JSC are located at 312 Điện Biên Phủ St in HCM City’s Bình Thạnh District.

But they usually operate out of a building at 120-122 Kha Vạn Cân St in HCM City’s Thủ Đức District, according to the city’s Department of Natural Resources and Environment. – VNS

 

 

 

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