FLC Garden City Project in Dai Mo Ward, Hanoi, faces delays, leaving low-income buyers in limbo.
The Hanoi Department of Agriculture and Rural Development has publicly listed 17 cases of land law violations, including projects that failed to utilize land within 12 consecutive months or significantly lagged behind their scheduled timelines.
Among these, FLC Group (Alaska Real Estate Investment JSC) stands out for its delayed project in Dai Mo Ward. The FLC Garden City project, a 29-story social housing complex, promised 173 units for sale, 57 for rent, and 58 commercial units, priced at over VND 16.8 million per square meter. Despite commitments, the project remains incomplete after three years, causing distress among buyers who have invested their savings and taken loans.
This situation is particularly dire for low-income families, who now face financial strain and uncertainty. The project’s stagnation has left many in a precarious position, burdened by loan interest and the lack of a promised home.
16 other companies, including major players like Viglacera and Hai Chau Confectionery, are also cited for similar delays in land utilization and project timelines.
Other notable violators include Viglacera with a project in Tay Mo Ward, Hai Chau Confectionery in Vinh Tuy Ward, and Bao Viet Insurance in Thanh Tri District. Additional companies such as Hanoi Real Estate Investment and Development JSC, Thang Long GTC JSC, Viet Hien Co., Ltd., Danh Nam JSC, Phu Minh Investment JSC, ICT JSC, Binh Tien Consumer Goods Production Co., Ltd., Northern Construction and Investment JSC, Cuu Long Production and Import-Export JSC, Thanh Hung Construction Co., Ltd., Infrastructure and Transportation Construction Investment JSC, and Radio and Television Development JSC are also on the list.
Meanwhile, seven projects have been removed from the violation list after developers rectified issues or completed necessary procedures. These include the Bac Qua Commercial Service Supermarket in Hang Khoai Street, a project by Hanoi Textbook Publishing JSC in Phuc Thinh Commune, and a development in Viet Hung New Urban Area by Vinakim Investment JSC and Tien Thanh Trading & Service JSC.
The Department of Agriculture and Rural Development has urged local authorities to publicly disclose information about these projects through local media channels. Additionally, all levels of government, departments, and media outlets are required to transparently report on projects that violate land, investment, planning, construction, and tax laws. Projects subject to forced execution, revocation, or termination must also be publicly announced in accordance with regulations.
