Accordingly, Nguyen Tu Cong Hoang, Deputy Chairman of Binh Dinh Provincial People’s Committee, has signed a Decision to fine Do Thanh Real Estate Investment Corporation with an amount of 500 million VND for violating the collection of money from buyers and tenants of future real estate exceeding the percentage of contract value at the I – Tower Quy Nhon Project, which this company is the developer.
The “golden land” location of the I – Tower Quy Nhon Project by Do Thanh Real Estate Investment Corporation.
Specifically, the company collected the money for the first time exceeding 30% of the contract value of 1 contract and collected the money exceeding 70% of the contract value when not yet handing over the property, construction works to customers of 16 contracts.
The Binh Dinh Provincial People’s Committee has forced Do Thanh Real Estate Investment Corporation to collect money from buyers and tenants of future real estate in accordance with the project schedule or to return to the buyers the excess contract value in accordance with the law.
The I – Tower Quy Nhon project with a total area of 10,748 m2, of which the construction area is 5,303.5 m2 (49.36%), with a scale of 2 basements, Block A 36 floors, Block B 41 floors… The total investment capital for the project is about 1,991 billion VND.
The I – Tower Quy Nhon Project has a prime location in the city center of Quy Nhon, with 3 frontages: Le Duan, Vu Bao, and Nguyen Tu.
According to the research by PV VTC News, Do Thanh Real Estate Investment Corporation is managed by Ms. Nguyen Tu Phuong as the General Director.
