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The scandalous real estate projects of Tan Hoang Minh

Dropping land stakes at Thu Thiem auction

By the end of 2021, the market real estate stunned by the price of 24,500 billion VND that Star Viet Real Estate Investment Co., Ltd (a member of Tan Hoang Minh Group) accepts to spend to own a golden land plot in Thu Thiem. This can be seen as a record price for a square meter of land in Vietnam today.

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The high auction land stake in Thu Thiem by Tan Hoang Minh caused a stir in the market.

However, not long after that, Mr. Do Anh Dung, Chairman of Tan Hoang Minh Company, had a letter about asking for a deposit of a land plot that won the auction of VND 24,500 billion in Thu Thiem, ready to accept sanctions when unilaterally marking the auction. terminate the contract of sale and auction of the land plot in this peninsula.

In the letter, Chairman of the Board of Directors Tan Hoang Minh stated the reason for “realizing that the auction results will lead to disturbances in the field of economy in general, real estate in particular”, so please remove the deposit (588.4 billion VND).

This information immediately caused a stir in public opinion, with many saying that this is a typical example of disturbing the market.

“Diamond” land in Hang Bai was changed hands after “oversleeping”

The “diamond land” area 22-24 Hang Bai (Hoan Kiem district, Hanoi) opposite Trang Tien Plaza with an area of ​​4,000 m2 was invested by Tan Hoang Minh about 1,000 billion VND, expected to develop into a 9-storey building. high-rise, 5 basements, including a complex of commercial centers, high-class offices, and luxury apartments. The apartments here own permanent red books, the selling price ranges from 7 to 35 billion VND.

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The golden land at No. 6 Hang Bai of Tan Hoang has been neglected for nearly a decade.

This project land has the highest compensation price in Hanoi, in some locations up to 1 billion VND/m2.

Having been allocated land since 2011, but thinking that with the approved planning criteria, the project will not ensure economic efficiency, leading to losses, the investor has repeatedly requested to change the planning from the commercial center and house. in resettlement to commercial centers, hotels. After that, the project was turned into commercial center, office and residential purpose.

Tan Hoang Minh Group spent 7 years to be able to receive a planning permit for the project. Finally, Tan Hoang Minh transferred to Masterise Homes to implement a “brand name” real estate project.

Super luxury apartment built 10 years is still not finished

Project D’. Palais De Louis (No. 6 Nguyen Van Huyen, Cau Giay District, Hanoi) was started construction at the end of 2009 and is expected to be completed in 2013. However, so far this project has not been completed.

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Project D’. Palais De Louis built more than 10 years and still not finished.

D’.Palais De Louis has 27 floors and 4 basements, built on an area of ​​4,791 m2 with a total investment of more than 4,000 billion.

It is worth mentioning that this is considered a super expensive apartment. Launched in 2012, apartment D’. Palais De Louis is for sale at a price of up to 145 million VND/m2, equivalent to about 13 billion VND to 27 billion VND (1.3 million USD) a house. However, due to the delay in progress, the investor had to return the entire deposit to the customer.

By 2019, Tan Hoang Minh Group will open the project to welcome future owners to experience 6-star utility services such as gym, spa, sauna, restaurant… right at the building itself.

Mistakes make residents protest

In 2017, project D’. Le Roi Soleil – Quang An and project D’. Le Pont D’or – Hoang Cau of Tan Hoang Minh also encountered many mistakes such as the investor appraising the design of construction drawings, the construction estimate was not in accordance with the prescribed form before approval; In some bidding packages, the supervision consultant fails to supervise according to the outline approved by the investor and the provisions of the law on quality management of construction works.

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The D’Capitale project was once opposed by residents when the corridor was too small.

Notably, around 2018, customers gathered at the model apartment area right at the D’Capitale real estate project (Tran Duy Hung street, Cau Giay district) to protest against the investor changing many classes on his own. item, compared to the approved design and completely unlike the advertising content. In particular, many customers expressed disappointment when the corridor of the D’Capitale apartment building was just over 1.47 m wide.

The “golden land” scandal of Le Duan, HCMC

In June 2015, Tan Hoang Minh won a bid for a 3,000m2 golden land at 23 Le Duan, District 1, Ho Chi Minh City with the highest price of 1,430 billion VND (2.6 times higher than the starting price) and then later. propose to cancel the result because it thinks that the organizer has made a mistake on the price step.

In June 2016, this business asked to continue to buy the above land lot. Due to the time limit, in addition to the winning amount, Tan Hoang Minh had to pay more than VND 260 billion in fines.

At that time, Tan Hoang Minh Group said that in the third quarter of 2017, the construction of an office complex and a trade-service center would be started. However, after that, the groundbreaking was not carried out. In 2019, this land was transferred to Techcombank.

Recently, the Police Department for Investigation of Crimes on Corruption, Economy and Smuggling (C03) of the Ministry of Public Security has verified a series of real estate projects of Tan Hoang Minh.

Specifically, C03 asked the Hanoi People’s Committee and the departments and agencies of Hanoi to provide legal documents signed and approved by the Hanoi People’s Committee related to these 11 real estate projects of Tan. Hoang Minh; documents related to approval of investment policy, recognition of investor, construction planning, construction permit; planning, land use plan, land allocation, financial obligations to the state related to 11 projects of Tan Hoang Minh Group in Hanoi.

Projects include: D’.Le Pont D’ or Hoang Cau; D’. Palais Louis Nguyen Van Huyen; D’. Le Roi Soleil Quang An, Tay Ho; D’. San Raffles Hang Bai; Tan Hoang Minh Dai Co Viet – D’. Jardin Royal…

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