Agribank Saigon Center Branch announced the simultaneous auction of 6 debts of individual customers, all of which have common collateral, which is an apartment at Cherry Apartment.

Notably, all assets securing the debt are not legally complete (the assets are still in the form of a sales contract, have not been granted a certificate of ownership, and have not been handed over to the buyer due to the project being built without permission and not yet completed).

Specifically, the first debt for sale of customer Vu Thi Lien, as of May 30, was VND8,991 billion. Of which, the principal debt was over VND5,944 billion, and the interest debt was over VND2,996 billion. The starting price of the debt was VND5,956 billion, equivalent to the remaining principal debt. Customer Vu Thi Lien has a 140.6m2 apartment as collateral.

The second debt of customer Pham Thi Huyen, the book value as of May 30 is 3.390 billion VND, of which the principal debt is 2.050 billion VND, the interest debt is 1.340 billion VND. The starting price of this debt is 2.088 billion VND. The collateral is a 116.1m2 apartment.

The third debt of customer Nguyen Thi Thuy An. The book value of the debt as of May 30 is more than 3,141 billion VND, of which the principal is 1,952 billion VND and the interest is 1,189 billion VND. The starting price of the debt is 2,192 billion VND. The collateral is a 6th floor apartment, area 140.6 square meters.

The fourth debt of customer Mai Thi Hong Thinh. The book value of the debt as of May 30 is 3,770 billion VND, of which the principal is 2,360 billion VND and the interest is 1,411 billion VND. The starting price is 2,379 billion VND. The collateral is a 140.6m2 apartment on the 7th floor.

The 5th debt of customer Le Van Son. The book value as of May 30 is 3,941 billion VND, of which the principal debt is 2,458 billion VND, the interest debt is 1,483 billion VND. The starting price of the debt is 2,480 billion VND. The collateral is an apartment with an area of ​​140.6 square meters.

The 6th debt of customer Bui Thi Hong Gam, the book value of the debt as of May 30 is 2.787 billion VND, of which the principal debt is 1.664 billion VND, the interest debt is 1.123 billion VND. Agribank wants to sell this debt with a starting price of 2.139 billion VND. The collateral is a 140.6m2 apartment on the 2nd floor.

Agribank said that 6 debts were overdue for many days and transferred to the bad debt group because the borrower violated the debt repayment obligation. Interest will continue to accrue from May 31, 2024 until the customer pays off the principal and interest.

Previously, Agribank announced the auction of all debts of An Tam Construction Investment Company Limited under the credit contract signed in 2008. The value of the debt as of May 30 was more than VND93.214 billion. Of which, the principal debt was VND61.83 billion and the interest debt was VND31.384 billion. The starting price for the auction of the debt was VND61.854 billion, equivalent to the principal debt. An Tam's debt was secured by 28 apartments at the Cherry Apartment project.

Cherry Apartment is invested by Hoang Quan Real Estate JSC, including a 12-storey apartment building with 99 apartments, with an area of ​​76-140.6m2. The total construction floor area is more than 19,000m2, with an investment of 203 billion VND.

The project started construction of the foundation and basement in May 2010, and was expected to hand over houses to customers in 2013. However, after nearly completing the rough construction, the project was stalled due to illegal construction.