news Published on January 4, 2019

Ministry probes into dozens of real estate projects


A string of real estate projects will undergo inquests during 2019 in accordance with an annual inspection scheme recently approved by the Ministry of Construction.

Inspections are to be carried out at a number of real estate projects in the central coastal province of Khanh Hoa, including at Mövenpick Resort Cam Ranh invested by Eurowindow Nha Trang Investment and Tourism JSC, ALMA Resort Cam Ranh of Paradise Bay Resort Co. Ltd, and Prime Resorts and Hotels run by Cam Lam Holdings.

The ministry is to implement inspections of two housing projects in Hanoi that have received investment by Military Petrochemical Joint Stock Company (Mipec) such as Mipec City View in Ha Dong district and Mipec Riverside in Long Bien district.

Another military-run entity, MBLand Holdings, which owns the Square Field hotel and shopping mall complex located in the southeast province of Tay Ninh, along with the Golden Field complex and Grand Plaza in Hanoi, is also subject to the MIC inspection.

A number of housing projects are also to undergo scrutiny. P.H Nha Trang social housing project owned by P.H Nha Trang Commercial Investment JSC in Khanh Hoa province tops the list.

Sunshine Group and Lac Hong Investment Corporation are the two real estate developers with a large number of housing projects to be inspected in 2019.

They include Sunshine City, Sunshine Center, and Sunshine Riverside in Hanoi, as well as the latter’s N01 T5 high-end housing complex in Hanoi along with its housing project in Quang Ninh province.

Meanwhile, the MIC inspectorate is scheduled to execute surveys on the control of housing and real estate market of many provincial construction departments.