Asa Light project: The investor blatantly brought the resettlement house to sell

The Department of Construction of Ho Chi Minh City has just issued a document requesting District 8 Public Service Company Limited to coordinate with Thai Bao Production Trading Service Company Limited (Thai Bao Company) to urgently complete the payment for the cases that have been paid. Signing an apartment purchase and sale contract that does not comply with regulations at the An Sinh apartment project (Ward 4, District 8, also known as Asa Light) for customers.

The City Department of Construction also mentioned District 8 People’s Committee proposed to determine the need to use the housing fund of the An Sinh apartment project to serve resettlement for the urban beautification program, relocation and clearance of houses on and along canals…

Perspective of the An Sinh apartment project

According to the Department of Construction, the An Sinh apartment project was assigned by the People’s Committee of Ho Chi Minh City to District 8 Public Service Company as the investor. When implementing, District 8 Public Utility Company cooperated with Thai Bao Company to implement.

However, the cooperation between the two companies has not yet been approved by the City People’s Committee according to regulations. However, Thai Bao Company arbitrarily signed a commercial apartment purchase and sale contract with people in violation of the law and in accordance with the project’s investment objectives.

Apartment project An Sinh was invested in to serve the resettlement program for the urban beautification program of relocating houses on and along canals in District 8 for non-commercial purposes. Therefore, signing a commercial contract to mobilize capital from the purchase and sale of An Sinh apartments is not in accordance with the law… Thereby, Thai Bao Company is responsible for liquidating the entire contract and refunding the entire amount raised. from the people.

On June 30, 2020, Thai Bao Company issued document No. 156 reporting that it had signed a sale and purchase contract to mobilize capital for 822 apartments with the amount collected nearly 295 billion VND. . Of which, 376 apartments have been liquidated (fully refunded 72 apartments, partially refunded 220 apartments, and 84 apartments have not been refunded). The number of apartments whose contracts have not yet been liquidated is 446 apartments, equivalent to the amount remaining to be refunded of more than 159 billion VND…

According to District 8 People’s Committee, Thai Bao Company has not yet completed the liquidation of the contract. and refund money for cases where An Sinh apartment purchase and sale contracts have been signed in contravention of regulations. At the same time, the payment period will be extended until September 2020. It has not yet been determined when Thai Bao Company will complete the payment to the buyer.

District 8 People’s Committee has many times worked with Thai Bao Company and issued many documents to urge them, but the data is limited. The report shows that the progress of refunds is very slow, there is no proactive source of money for payment, and the commitments on the implementation progress roadmap have not been properly implemented.