Continuous Delays
The Tan Binh Apartment Social Housing Complex project, invested by Tan Binh Real Estate Investment Company, has encountered significant delays. The project, which comprises two 16-story blocks with 168 apartments ranging from 58 to 83 square meters, has completed its structural work.
Initially, this project was planned as a commercial housing development, but it was later converted into social housing and received benefits under a VND 30 trillion package. In 2015, the investor started selling the apartments, and home buyers were approved by the Ho Chi Minh City Department of Construction to purchase these social housing units with loans from the VND 30 trillion preferential package.
Many buyers have already made payments according to their contract values. The investor committed to handing over the apartments to the buyers by October 2016. However, almost a decade has passed, and the buyers are still awaiting possession. The reason for this delay lies in the numerous violations committed by the investor during the project’s execution.
Mr. L.V.T., a resident of Go Vap district, Ho Chi Minh City, shared that in 2021, he signed a contract with the investor to purchase a shophouse worth over VND 3.5 billion. The contract clearly stated that the actual handover and occupancy date would be in June 2021. However, the investor failed to fulfill this commitment.
In July 2022, Tan Binh Real Estate Investment Company issued Document No. 52/Tb-TB, pledging to expedite the handover process for the shophouses. According to this document, the end of October 2022 was set as the deadline for handing over the shops to four customers, and the end of November 2022 for another five customers. The document also stipulated that the investor would be subject to penalties as per the sales contract if they failed to meet these deadlines.
Whose Fault?
In 2018, the People’s Committee of Ho Chi Minh City issued a decision to administratively sanction the investor for 19 violations in the fields of investment construction, real estate business, housing development, and management and use of houses and offices. The total fine amounted to over VND 1.6 billion. Additionally, the investor was instructed to dismantle two floors (15th and 16th) and other items that violated the regulations.
 Current state of a shophouse on the ground floor. |
However, during the process of dismantling the violations, the management agency proposed allowing Tan Binh Real Estate Investment Company to retain the violating area on the mezzanine floor (332 square meters) and the violating area at the four corners of the building. The reason given was that dismantling these areas would affect the building’s load-bearing structure, and this area would be offset against the planning criteria of Block 1 (yet to be constructed) to ensure the overall planning criteria for the entire project. This proposal was approved by the People’s Committee of Ho Chi Minh City.
On May 20, 2020, Tan Binh Real Estate Investment Company sent Document No. 145/CV-TB to the People’s Committee of Ho Chi Minh City, requesting the restoration of the 18-story planning criteria for the project.
On July 8, 2020, the Department of Planning and Architecture issued Document No. 2342/QHKT-QHKTV2, reporting to the People’s Committee of Ho Chi Minh City about the direction to adjust the detailed planning of the area with a ratio of 1/2000. In case of approval, the Department of Planning and Architecture would guide the People’s Committee of Tan Binh district to organize consultations with the community (including customers who have rented or purchased apartments) and summarize them to report to the People’s Committee of Ho Chi Minh City for consideration and decision.
 Interior of a shophouse. |
According to the customers who purchased apartments in the Tan Binh Apartment Social Housing Complex project, the authorities in Ho Chi Minh City have repeatedly requested the investor to expedite the dismantling of the violating works and complete the project to hand over the apartments to the buyers. The final deadline for the handover was set for April 30, 2021. Nevertheless, as of now, the buyers are still waiting for their homes.
In a conversation with the reporter, a representative of Tan Binh Real Estate Investment Company stated that they had invited the customers who bought apartments in the project to take possession, but they had not yet received them. Currently, only 60 customers have agreed to receive the apartments. “The project has completed fire protection and quality inspections,” the representative affirmed.
Regarding the shophouses on the ground floor, the representative of Tan Binh Real Estate Investment Company stated that they have not yet been dealt with.
Duy Quang
– 09:36 07/01/2025
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