“HoREA Proposes Solutions to Expedite Pink Book Issuance for Apartments Formerly Part of Resettlement Fund”

In a recent petition, HoREA revealed that there are currently about 17 commercial housing projects in the city facing obstacles related to the regulation on reselling housing funds for relocation to the city (Directive 07). As a result, many homebuyers have not been granted pink book ownership certificates.

Specifically, in 2003, the city issued Directive 07, which required investors to allocate 10% of land or 20% of housing in their projects to the city’s relocation program fund. Although the city issued Document 7623 in 2005, revoking this requirement and allowing enterprises to fulfill their obligations through exchanges in other projects, thousands of apartments remain unable to be granted ownership certificates.

Mr. Le Hoang Chau, Chairman of HoREA, stated that after Directive 07 was replaced by Document 7623, many investors had completed infrastructure investment and sold all housing products in their projects, including the 10% land or 20% housing portion. However, this portion has been denied pink book certificates for almost 20 years, significantly affecting the rights of the people and the reputation of enterprises.

The association cited the case of Duong Hong Trading Construction and Housing Joint Stock Company, the investor of the 9B4 – 9B8 Housing Area project in Binh Hung, Binh Chanh district. In 2004, Duong Hong Company was assigned land by the Ho Chi Minh City People’s Committee to implement the housing project. According to the plan, the project had a total of 254 apartments, of which 25 apartments belonged to the 10% fund. After Document 7623, the investor developed the infrastructure and sold all the products. So far, the company has granted pink books to 229 apartments, but the remaining 25 apartments in the 10% fund are still pending.

This situation has lasted for 20 years, and up to now, residents have not been granted pink books, greatly affecting the rights of homebuyers and causing prolonged complaints, affecting the reputation of the enterprise.

A similar situation occurred with the Riva Park project (District 4) invested by Vietcomreal. Although District 4 confirmed that they did not need to buy back 150 apartments for relocation and the investor had sold them to the people, these apartments have not been granted ownership certificates due to Directive 07. In addition, hundreds of apartments in projects such as EHome3 (Binh Tan District) and Phuong Viet (District 8) face the same issue.

HoREA argued that this obstacle is entirely within the authority of the Ho Chi Minh City People’s Committee to handle, as it originates from Document 7623. Regarding the 9B4 – 9B8 Housing Area project, this project has complete legal procedures and has fulfilled its financial obligations to the state, with 90% of the apartments already granted pink books. Therefore, it is necessary to issue pink books to the remaining 25 customers, decisively resolving the legitimate rights of homebuyers and preventing prolonged complaints.

In addition, the city’s People’s Committee should direct the Department of Agriculture and Environment to guide the resolution of difficulties for projects facing similar obstacles and expedite the progress of granting pink books to residents.