76 resettlement apartments 'disappeared'
As reported by VietNamNet , the Ho Chi Minh City People's Committee has just issued an urgent document directing departments and branches to temporarily suspend all transactions for the land plot of more than 7,300 square meters at 132 Ben Van Don, Ward 6, District 4, Ho Chi Minh City. On this land is currently an apartment building with the commercial name Milennium.
Milennium Apartment has been eligible to issue Certificates of land use rights, house ownership rights and other assets attached to land (pink books) to home buyers since 2019. However, due to problems related to the origin of the land, residents of this apartment building still do not have pink books.
According to VietNamNet reporter 's investigation, the land at 132 Ben Van Don initially had an area of 7,890.9 square meters and was managed by the Southern Food Corporation - JSC (Vinafood 2).
In 2008, Vinafood 2 applied for and was approved by the Ho Chi Minh City People's Committee to change the land use purpose to implement a high-rise apartment complex project combined with a commercial service center.
Vinafood 2 has paid the budget the value of land use rights as approved and has been granted a Land Use Rights Certificate for the above land. Afterwards, Vinafood 2 contributed this land use rights to Vinh Hoi Development Investment Joint Stock Company (Vinh Hoi Company).
In December 2013, Vinh Hoi Company was granted a Certificate of Land Use Rights for the above land. However, the area is now only 7,327.9 m2 because part of it was reclaimed to expand Ben Van Don Street.
After the project was approved, the architectural planning of the Milennium apartment building was adjusted. Specifically, the maximum height of the apartment building was increased from 30 to 32 floors, and the population target was increased from 1,600 to 2,000 people. When approving the project planning adjustment, the Ho Chi Minh City People's Committee assigned the Department of Finance to propose financial obligations that the investor must fulfill according to regulations.
The Department of Finance then proposed not to determine additional financial obligations because the adjustment of increasing the number of floors and population of the project does not change the land use coefficient and business floor area of the project.
Approving the above proposal, the Ho Chi Minh City People's Committee assigned the People's Committee of District 4 to handle the increase in the project's population and contribute funds to invest in building technical facilities and social infrastructure for the locality by the investor.
After many procedures, in 2016, Vinh Hoi Company officially became the investor of the Milennium apartment project, with a scale of 653 apartments and shophouses. The project was built from 2016 and completed in 2018, handing over houses to customers.
Legally, Phu My Hung Investment Corporation (Phu My Hung Company), a company related to Phat Dat Real Estate Development Corporation (Phat Dat Corporation), is the investor of the Milennium apartment building. Phu My Hung Company was established in 2015 and later merged into Vinh Hoi Company.
It is known that as of June 2014, 44% of Vinh Hoi Company's shares were owned by Nguyen Kim Investment and Development Joint Stock Company (Nguyen Kim Company). These shares were later transferred to Phu My Hung Company.
At the Milennium apartment building, in addition to the public land, the investor also commercially sells 76 apartments that according to regulations must be reserved for sale to serve resettlement needs.
Specifically, according to the decision approving the project investment approved by the Ho Chi Minh City People's Committee in 2016, the investor of Milennium apartment building must reserve 50 apartments for sale for resettlement in District 4 and sell 26 resettlement apartments to households whose land will be cleared when expanding the traffic route at the project.
However, at the request of the investor, in 2018, the People's Committee of District 4 issued 2 official dispatches approving the policy for the investor to convert 76 resettlement apartments into commercial sales.
After checking the current status of land use, housing and construction works of the project at 132 Ben Van Don, District 4 in September 2019, the Department of Natural Resources and Environment of Ho Chi Minh City said that the approval of District 4 People's Committee for Phu My Hung Company to sell and trade 76 resettlement apartments was inappropriate and needed to be reported to the Ho Chi Minh City People's Committee for approval to adjust the investment approval.
What do investors say?
Regarding the land plot at 132 Ben Van Don, District 4, in November 2022, the Department of Investigation Police on Corruption, Economic Crimes, and Smuggling (C03), Ministry of Public Security requested Phat Dat Corporation to provide relevant information.
Specifically, C03 requested Phat Dat Corporation to provide records and documents related to the following matters: Implementation of the contract to transfer shares of Vinh Hoi Company or receiving the transfer of the project at 132 Ben Van Don; records of capital contribution to implement the project on the above land and the source of funds; list of project investment efficiency; list and role of each individual at Phat Dat Corporation related to receiving the transfer and implementing the project...
After the request of the Ho Chi Minh City People's Committee to stop all transactions at the land plot at 132 Ben Van Don, District 4, on July 26, Phu My Hung Company and Phat Dat Corporation spoke up about the incident.
Phu My Hung Company said that the company received the transfer of shares from Nguyen Kim Investment and Joint Stock Company and individuals according to the contract signed on November 26, 2015, so it is not related to Vinafood 2. At the same time, Phu My Hung Company does not work directly with this enterprise.
In addition, Phu My Hung Company confirmed that it had sold the project’s products and handed over apartments to customers in accordance with regulations. At the same time, the company had complied with regulations on investment, construction, business, etc. for the project.
Along with Phu My Hung Company, Phat Dat Corporation also affirmed that during the implementation of the 132 Ben Van Don project, this enterprise was not related to individuals or leaders of Vinafood 2.
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