According to the Ho Chi Minh City Department of Construction, despite extensive advertising, only one condominium project in the city meets the legal requirements to sell future housing units. This is the OCC Apartment Project (Green Skyline), part of the Green Square Urban Commercial Service Area in Dong Hoa Ward, developed by Thai Binh Investment Joint Stock Company.
Setia Edenia in Lai Thieu Ward, developed by Setia Lai Thieu One-Member LLC, has not yet been authorized to raise capital.
Conversely, numerous projects advertised by brokers as legally compliant are not listed in the registry of future housing units eligible for sale.
Specifically, the Ho Chi Minh City Department of Construction has identified several projects unauthorized to raise capital, including Setia Edenia in Lai Thieu Ward (Setia Lai Thieu One-Member LLC), A&T Saigon Riverside in Binh Hoa Ward (A&T Binh Duong Urban Development Investment JSC), and AVA Plaza in Thuan Giao Ward (An Phu Real Estate Investment LLC). Residents are advised to exercise caution.
A representative from the Department of Construction emphasized that current laws impose severe penalties for illegal capital raising. The Law on Real Estate Business prohibits fraudulent practices, and Decree No. 16/2025/NĐ-CP mandates fines and potential 3-6 month suspensions for non-compliant real estate businesses.
For safety, residents can verify project information on the Department of Construction’s official portal: https://soxaydung.hochiminhcity.gov.vn. Updates are published immediately upon document issuance, ensuring timely accuracy.
The Department of Construction previously instructed real estate service providers to comply with the 2023 Law on Real Estate Business and Government Decree No. 96/2024/NĐ-CP. Two months ago, Notification No. 11410/TB-SXD-QLN&TTBĐS reiterated requirements for disclosing project information before commercialization.
A&T Saigon Riverside in Binh Hoa Ward, developed by A&T Binh Duong Urban Development Investment JSC, is not authorized to raise capital.
Additionally, developers must disclose transaction details immediately after occurrence and adhere to administrative penalty regulations. Notably, the Department prohibits delegating authority to third parties for deposit agreements, sales, transfers, or lease-to-own contracts related to housing, construction works, or land-use rights within real estate projects.
Before selling or leasing future housing units, developers must notify the provincial real estate management authority of the units’ eligibility. Moving forward, the Department of Construction will collaborate with relevant agencies and local authorities to intensify inspections and address violations in real estate brokerage activities.
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