Shifting Liability and Risk to Customers?
According to reports from multiple customers, they signed contracts to purchase apartments through An Phú Gia Holdings Joint Stock Company (APG), a partner authorized by Thăng Long Company to sell products from the project. However, they were shocked to receive a notice stating that their contracts with APG would be canceled, and their apartments would be repossessed.
The Grand Sunlake project was approved by the Hanoi People’s Committee under Decision No. 4132. It is being developed by Hydro-Mechanical Equipment Joint Stock Company (Hesco) and Thăng Long Urban Development Investment Corporation.
Customers demanding their rights.
In May 2021, the Hanoi Department of Construction issued Document No. 3290, confirming the project was eligible to sell future housing units. Based on this, in 2022, Thăng Long Company signed 380 sales and lease agreements with APG for apartments in the 45-story tower of the Grand Sunlake project. After signing, APG transferred and sold these units to 190 individual customers.
Conflict arose on June 16, 2023, when Thăng Long Company issued a notice revoking APG’s right to transfer apartment contracts due to APG’s failure to fulfill financial obligations as agreed.
However, just days later, on June 29, 2023, Thăng Long Company rescinded the notice (Document No. 65 dated June 16, 2023). The new document allowed APG to continue transferring sales and lease contracts for apartments in the 45-story tower of the Grand Sunlake project.
Yet, on October 1, 2024, Thăng Long Company unexpectedly sent a notice unilaterally terminating the contract with APG and announced the repossession and cancellation of all sales and lease contracts APG had signed with customers.
Infringing on Homebuyers’ Rights
In the notice, Thăng Long Company asserted that APG had severely breached its payment obligations.
A corner of the project.
In response, customers who purchased apartments from APG argued that they had fulfilled their contractual obligations and made timely payments. They stated that the dispute between the two companies was an internal matter and could not justify infringing on homebuyers’ rights.
Legal experts noted that the primary responsibility lies with the developer, as authorizing APG to distribute apartments was a legal act approved by Thăng Long. Financial disputes between the companies cannot invalidate legally signed contracts between APG and customers.
Remarkably, instead of collaborating with the partner and authorities to protect homebuyers’ rights, Thăng Long Company issued two notices to repossess apartments, leaving hundreds of customers anxious and at risk of losing their assets.
Customers have filed petitions and complaints with relevant authorities to clarify the situation and protect their legitimate rights.
Overview of the project.
On October 16, in an interview with Tiền Phong, Mr. Đồng Quốc Cường, CEO of Thăng Long Urban Development Investment Corporation, stated: “APG violated the contract, so we decided to terminate it. Despite being a major client, they only made a deposit and then resold units without fulfilling their payment commitments to us. As we did not receive the agreed payments from APG, we halted transactions and notified them of the contract termination.”
