According to Phat Dat Real Estate Development Joint Stock Company, the issuance of land use rights, home ownership, and asset ownership certificates (colloquially known as "red books") is proceeding following a series of legal resolutions.
Most recently, on 5/2, Vice Chairman Tran Van Bay of the Ho Chi Minh City People's Committee instructed the Department of Agriculture and Environment to collaborate with the Department of Justice. This directive aims to implement the Ho Chi Minh City People's Court's recommendation to lift transaction restrictions on the land where the project is located. The Department of Agriculture and Environment was also tasked with leading efforts to coordinate with relevant parties, receive, and review applications for property certificates from buyers.
Phat Dat views this as a crucial legal foundation for issuing certificates to residents. The company is urging customers to complete their documentation promptly to facilitate the certificate issuance process.
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The Millennium apartment complex on Ben Van Don street, adjacent to District 1. Photo: PDR |
The Millennium apartment complex comprises two blocks, offering 653 residential units, 387 office units for lease, and 17 commercial units, all of which have been sold. The project is situated in a prime location on Ben Van Don street, near the Saigon River and adjacent to District 1.
The project became operational in 2018. By September 2019, authorities confirmed that 653 residential units met the conditions for certificate issuance. However, the process was halted because the land was implicated in the inspection, investigation, and trial of a case involving Southern Food Corporation (Vinafood II).
The land plot at 132 Ben Van Don, spanning over 7,600 square meters, was previously under the use rights of Vinafood II. It was certified for the construction of high-rise apartments combined with a commercial center, services, and office towers for lease. However, Vinafood II subsequently transferred the land to Vinh Hoi Company in violation of regulations, causing over 113 billion VND in state damages. This was a central aspect of the case that led to the imposition of transaction restrictions.
In 2023, the Ho Chi Minh City People's Committee issued a decision to temporarily suspend all activities related to the transfer, lease, inheritance, or mortgage of land use rights at this site. This action was taken at the request of the Ministry of Public Security to support the investigation into the Vinafood II case.
