According to the Department of Construction of Bac Ninh Province, recent social media activity has revealed several organizations and individuals advertising, selling, and accepting deposits for real estate projects that have not yet completed legal procedures or met capital mobilization requirements.
These activities are concentrated in Tam Son Ward (formerly Tu Son City) and Tien Du Commune (formerly Tien Du District).
The violations were observed in two projects: the New Urban, Tourism, Eco-Cultural, Resort, and Entertainment Area – Sub-zone 112.3 (Tam Son Ward), developed by Tay Bac Investment Co., Ltd., and the New Urban, Tourism, Eco-Cultural, Resort, and Entertainment Area – Sub-zone 112.1 (Tien Du Commune), developed by Tay Ha Noi Investment Co., Ltd.
The Department of Construction asserts that these actions potentially violate real estate and housing business laws, posing risks of fraud, price manipulation, market instability, and harm to citizens.
The project in Tien Du District – Sub-zone 112.1 (now Tien Du Commune), developed by Tay Ha Noi Investment Co., Ltd., remains an open field. |
Furthermore, these activities may lead to disputes, social disorder, and negatively impact Bac Ninh Province’s sustainable development.
To address these issues, the Bac Ninh Department of Construction has instructed Tay Bac Investment Co., Ltd. and Tay Ha Noi Investment Co., Ltd. to comply with the 2023 Real Estate Business Law.
Specifically, Article 23, Section 4(d) prohibits developers from authorizing others to sign deposit, purchase, or lease agreements for future properties.
Additionally, Article 24, Section 4 requires developers to notify provincial authorities before selling or leasing future properties, confirming project eligibility.
The Department mandates that both companies refrain from unauthorized third-party delegations, adhere to legal requirements, and rectify misleading advertising and capital mobilization practices.
Another project by the same developer has deployed construction machinery and equipment. |
The Bac Ninh Department of Culture, Sports, and Tourism will enhance legal education on housing and real estate, while the provincial police will investigate and penalize entities disseminating false information or engaging in fraudulent real estate transactions.
The Department of Construction advises citizens and organizations to verify project legality before transactions and avoid deposits or payments for non-compliant projects. Report suspected violations to authorities promptly.
Relevant companies must submit compliance reports by November 15th.
Bao Khanh
– 18:51 04/11/2025
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