Business
Real estate firms to be inspected in 2017
  • By Ha Nguyen | dtinews.vn | January 09, 2017 01:56 PM

Minister of Construction Pham Hong Ha has signed a decision to inspect 12 large real estate companies in 2017.

The inspection which is scheduled to be started this week will cover Vietnam’s leading property firms, including Muong Thanh Joint Group Joint Stock Company, Tan Hoang Minh Group, Bitexco Group and Empire Group; Phu My Hung Development Corporation, Dai Quang Minh Real Estate Investment Company.

Others in the list include Nam Thang Long Urban Area Development Ltd. Co., Phat Dat Real Estate Development Corporation and Hung Thinh Real Estate Ltd. Co.

The companies will face inspection over their compliances to legal regulations on real estate development planning, project quality management as well as related business activities.

More specifically, the Ministry of Construction will inspect Muong Thanh Joint Group Joint Stock Company’s projects in many localities, including Khanh Hoa Province. While for Bitexco, it will be the firm’s projects in HCM City and for Empire, it will be Cocobay Danang project.

Among these companies, Muong Thanh Group JS Company has been denounced for various violations in terms of the construction law and its ignorance of decisions made by authorities. From Hanoi in the north to HCM City in the south, from Nha Trang City in the central region to Buon Ma Thuot City in the Central Highlands, irregularities committed by the group are rampant and beyond the management of local authorities.

In Nha Trang City in Khanh Hoa Province, Muong Thanh has developed a hotel project as high as 48 storeys, far exceeding the height limit for the entire city at 40 storeys.

In Hanoi, the company has built the Dai Thanh complex without permission and has broken planning regulation height limits and failed in maintaining fire-prevention standards.

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