'Ghost' urban and resort projects spring up like mushrooms, Binh Thuan Police warn

Accordingly, Binh Thuan Provincial Police said that recently they have received and processed dozens of criminal complaints related to "resort projects".

The company signed a contract to buy and sell the resort project according to the construction progress with many people to earn tens of billions of dong and attractive promises "will earn many times more profit after the project is completed".

However, after signing the contract with the company for a while, people came to verify the construction site but did not see any construction activities at the project, but still saw empty lots. Thereby, when going to the company, they were promised many times, with many different reasons to prolong and avoid responsibility.

Only then did people discover they had been scammed and file a criminal complaint to the authorities for consideration and resolution.

A director of a real estate company in Binh Thuan was arrested for setting up a ghost project to defraud and appropriate property. (Photo: Binh Thuan Provincial Police)

Binh Thuan province has advantages in sea tourism and synchronous investment in transport infrastructure and urban development. Many national highways have been invested in, renovated and upgraded, along with Phan Thiet airport which is being invested in to soon complete and put into operation.

Since then, many businesses have found opportunities and potential to develop tourism and resort industries. However, according to Binh Thuan police, with the benefits and development potential of the locality, many businesses have taken advantage of this to create virtual fevers in the resort real estate market. "Ghost" urban and resort projects have been established by businesses with attractive scales, forms and values to attract gullible investors.

Binh Thuan police recommend that people interested in investing in land, residential projects, and resorts in the province should research the legality, investor, and feasibility of the project to avoid losing money and getting into trouble.

Nguyen Gia

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