The AZ Thang Long social housing and commercial service project complex located in Hoai Duc district, invested by Thang Long Confectionery Company Limited, is announcing the 27th batch of home purchase applications.
This project is located on Van Xuan Street, Lai Xa Village, Kim Chung Commune, Hoai Duc District, Hanoi City. Since 2020, the AZ Thang Long housing project has changed its name to THT New City Apartment.
This project used to have the commercial name Bright City, initially a commercial housing project. However, during the implementation process, the project was "shelved" many times and in 2014, the investor requested to change this project to social housing to enjoy incentives.
On February 14, 2014, the Hanoi People's Committee decided to allow the project to change from commercial to social housing and the investor committed to complete construction and hand over the houses in the third - fourth quarter of 2017.
However, in reality, the project was behind schedule, the house handover plan was not implemented by the investor as committed in the sales contract, and many times home buyers had to "call for help" from the authorities.
THT New City Apartment.
Notably, according to the reflection, the investor here also arbitrarily announced a delay in the apartment handover time to the third quarter of 2023 (1 year later than committed) without any agreement or discussion with customers.
According to the Hanoi Department of Construction's Electronic Information Portal, by April 2023, at the 26th sale and contract signing, the project had only sold 857 units and rented out 183 units. To date, there are about 500 unoccupied apartments.
As of May 2023, this project is still "on hold", the outside and inside of apartment buildings A3 and A4 are still surrounded by corrugated iron, scrap piled up haphazardly, weeds growing high and there are no signs of construction.
"As promised, we were supposed to receive the houses in 2017, but up to now, only A1.1 and A1.2 have been delivered, while the two buildings next to my family's purchase are still unfinished, and we don't know when they will be completed," said a resident of building A1.1.
Accordingly, THT New City has 4 35-storey buildings, nearly 1,500 apartments with a total floor area of about 170,116 m2.
According to Nguoi Dua Tin 's data, Thang Long Confectionery Company Limited was established and officially put into operation on September 4, 1999. The company's headquarters is in Thong Lai Xa, Kim Chung Commune, Hoai Duc District, Hanoi City. The company operates in the field of real estate and real estate leasing.
Thang Long Confectionery has a charter capital of 300 billion VND, with a scale of less than 50 employees. The company is not listed on the stock exchange. Ms. Tran Thi Thu Hien is currently the General Director and Legal Representative of this company.
Regarding business performance, according to data from 2019 to 2021, this company's profit and loss have increased over the years. Specifically, in 2019, Thang Long Confectionery had not recorded revenue, and the loss after tax was 781 million VND. In 2020, the company brought in 410 million VND in revenue; the loss after tax increased to 1 billion VND.
Entering 2021, the company unexpectedly recorded a spike in revenue, up to 67 billion VND, but its after-tax loss doubled, up to 2 billion VND.
On the other hand, Thang Long Confectionery's liabilities tend to increase and hover above the threshold of more than VND 1,000 billion in the years, however, by 2021 this figure had decreased by 30% compared to the previous year.
Specifically, in 2019, the debt payable was 1,340 billion VND, the figure increased to 1,368 billion VND in 2020 and decreased to 959 billion VND in 2021.
At the end of 2021, Thang Long Confectionery had total assets of VND 1,245 billion, down 25% compared to the previous year. Owner's equity decreased slightly to VND 286.5 billion.
Some images recorded by Nguoi Dua Tin in early June 2023.
Two apartment buildings A1.1 and A1.2 have been handed over and put into operation with current selling price of about 14 million VND/m2.
At the entrance to the parking lot of buildings A1.1 and A1.2, the rough construction has not been completed yet. Many residents also complained that the quality of infrastructure and security have not met requirements.
Building A2 & A3 of the THT New City project has only completed the rough construction and cannot be handed over to customers as committed in the third quarter of 2022.
According to the home purchase contract, the apartment handover deadline is the third quarter of 2022 at the latest. However, up to now, the investor has repeatedly delayed the handover progress, causing hundreds of customers to feel "sitting on hot coals".
The outside of the project is still fenced with corrugated iron and there are no signs of construction.
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