The Department of Construction has just reported to the People’s Committee of Ho Chi Minh City on the implementation of the investment project to build a cluster of apartment buildings in the Thanh Da Residential Area, Ward 27, Binh Thanh District.
The cluster of apartment buildings in the Thanh Da Residential Area comprises 15 apartments with a total construction area of nearly 54,000 square meters. The cluster also includes low-rise houses, a market, two schools, a park, and a project to build a regulating lake combined with beautifying the Saigon River corridor.
 A corner of the cluster of 15 apartments in the Thanh Da Residential Area, Binh Thanh District, Ho Chi Minh City. Photo: Anh Phuong |
According to the 2016 inspection results, the cluster of 15 apartments was rated as Level C in terms of danger, meaning they were not in a state of severe disrepair or posing an immediate danger that required emergency demolition.
Earlier, in July 2010, the People’s Committee of Ho Chi Minh City had approved the investment policy for the reconstruction of the Thanh Da Residential Area, including the cluster of 15 apartments in the lot letter and the cluster of eight apartments in the lot number. It was agreed to assign the Saigon Real Estate Corporation (Resco) as the investor of the project to rebuild the cluster of 15 apartments in the lot letter.
Resco’s survey in 2016 showed that the project scope was nearly 15 hectares, with a current population of about 10,820 people. The total number of houses in the cluster of 15 apartments was about 2,705 units, including 2,190 apartment units and 515 separate houses.
In January 2017, the People’s Committee of Ho Chi Minh City continued to request that Resco research and propose the project, and develop a detailed planning scheme at a scale of 1/500 to implement the project. If the company failed to complete the research and proposal within six months, it would be considered as not participating in the investment and would have to bear all the costs incurred.
 The 2016 inspection results rated the cluster of 15 apartments as Level C in terms of danger. Photo: Anh Phuong |
According to the Department of Construction, during the period of 2010-2017, Resco only conducted measurements and surveys of the actual situation in the project area. After six years of approval of the policy, the enterprise has not yet completed the investment plan.
After the People’s Committee of Ho Chi Minh City assigned the task of proposing the project and developing the detailed planning scheme at a scale of 1/500 according to the January 2017 document, Resco took 18 months to submit a proposal to the People’s Committee of Binh Thanh District. By then, the company had already exceeded the six-month deadline as directed by the People’s Committee.
Up to now, the project to rebuild the cluster of 15 apartments has not been approved for investment, and there is no recognized investor in accordance with the law on investment and housing.
Based on the opinions of the Department of Justice and the Department of Planning and Investment, the Department of Construction proposed that the People’s Committee of Ho Chi Minh City does not have a legal basis to consider Resco’s request to continue implementing the project. At the same time, Resco must bear all the costs incurred in implementing the project.
In addition, the Department of Construction proposed that the People’s Committee of Ho Chi Minh City assign the People’s Committee of Binh Thanh District to organize an inspection and evaluation of the quality of all 15 apartments in the lot letter. The inspection conclusions should then be publicized for the residents’ information.
Anh Phuong
The Master Plan to Transform Thanh Da Peninsula: Unveiling the 4 Bridge Locations to Bring Urbanization to this Rural Area, Just a Stone’s Throw from District 1
The planned construction of four new bridges is set to be a game-changer for the Thanh Da peninsula. With improved transportation links, the area will finally be able to keep pace with its surrounding regions in terms of economic and social development, offering a host of new opportunities for all.
The Golden Land Scandal: Ex-Resco Chairman Sentenced to Prison
The regulatory breach resulted in a significant financial loss for Resco at the time of the transfer, amounting to over VND 45 billion.
The Fall of a Real Estate Tycoon: Ex-Chairman of Saigon Housing Corporation Sentenced to 5 Years and 6 Months in Prison
With regards to the misconduct in the transfer of three land plots in Ho Chi Minh City, causing a loss of over VND 45 billion, the former Chairman of Resco, Nguyen Tin Trung, has been sentenced to 5 years and 6 months in prison.
The Great Saigon Real Estate Heist: $2 Million Lost as Former Executives Face Justice
Despite explicit instructions from the People’s Committee of Ho Chi Minh City, former leaders of the Saigon Real Estate Corporation went ahead with the sale of three prime city-center locations to external parties, resulting in a staggering loss of over VND 45 billion. This unauthorized transaction highlights a blatant disregard for protocol and has led to severe financial consequences for the city.
Former Chairman of Saigon Real Estate Corporation Jailed for Five Years for Selling Prime Land
The court found that the violations committed by the defendant Nguyen Tin Trung, the former Chairman of the Members’ Council of Saigon Real Estate Corporation, and his accomplices had caused particularly severe damage to property. As a result, the court sentenced the defendant to five years in prison.
