Investors “Jump” When The Project Was Stigmatized In The Mortgage List

After 77 projects in Ho Chi Minh City were declared mortgaged in banks, some real estate companies said that there is false information, inaccurate information about the “name” makes customers confused, discredited company.

Particularly, City Land Investment Company Limited (CityLand) said that in 77 bank mortgage projects, many newspapers reported information on the City Land residential project of the mortgage company at the Joint Stock Commercial Bank Thu Duc branch from November 21, 2015.

According to Nguyen Huu Tai, deputy general director of City Land, the information does not say where any City Land projects are mortgaging the bank. Not to mention the mismatch of information, the public announcement of “City Land Residential Project of HCM City Real Estate Investment Company” has caused psychological panic and anxiety for customers in the project. are deployed by the company. Secondly, some papers posted an unclear time on November 21, 2015, for misreading January 21, 2015, causing confusion in the timing of the mortgage.

Based on the press release, City Land identified the project being named as collateral at Vietcombank – Thu Duc branch from November 21st to 20,15th under the City Land Garden Hills project. Ward 5, Go Vap District, Ho Chi Minh City. In reality, however, City Land does not mortgage residential projects that are understood by the entire project as reported by the media, but mortgages with land-based assets form in the future. Specifically, the project is a multi-level building and kindergarten of City Land Garden Hills, Ward 5, Go Vap District.

In addition, the Official Letter of the Department of Natural Resources and Environment of Ho Chi Minh City also pointed out very clearly, the location of the mortgage project but some newspapers have cited inadequate information. Therefore, the company notice correct information to avoid confusion with readers, affecting the image, reputation and brand City Land.

A representative of Hung Lo Phat Construction and Production Company Limited also said that in 77 real estate mortgage projects, the company has secured 10 apartments and 6 commercial floors 2,3,17 in the building. Hung Phat in Viet A Commercial Joint Stock Bank – Sai Gon Branch.

Need to provide clear information on bank mortgage projects to avoid misleading homebuyers and influence the reputation of real estate companies

According to the representative of Hung Loc Phat, this information can be confusing and affect the psychology and trust of customers for the Hung Phat brand and the projects that our company is implementing. Specifically, all 10 apartments of Hung Phat Building have stated in the Official Letter No. 7067 of the Department of Natural Resources and Environment of Ho Chi Minh City are the apartments that Hung Phat Hung Company kept for other purposes but not sold out for any customer.

Similarly, 6-floor trading floor 2,3,17 is also the area owned by Hung Phat Company. Therefore, Hung Loc Phat can mortgage this asset to Viet A Bank – Saigon Branch without affecting the interests of any customers who have bought houses in Hung Phat.

A representative of the company said Hung Phat Tower consists of 358 apartments built at 928 Le Van Luong, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City. HCM. The project was completed and handed over to customers in 2014. And on March 13, 2016, on the occasion of the 15th anniversary of Hung Phat Hung Company, the company handed over the title paper for customers who have bought Hung Phat Apartments.

Relating to the announcement of 77 real estate mortgages in HCM City, HCM City Real Estate Association (HoREA) also said the publicity of the mortgaged projects provided the information needed. For consumers and other stakeholders, contributing to building the real estate market more and more transparent. However, the disclosure of information on the immediate impact on the real estate market makes a segment of consumers anxious, especially people mistakenly understood that the project was mortgaged identically to the owner private capacity.

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According to HoREA, in the process of production, business, the mortgage business, mortgage asset to business loans is normal activity. In the business sector also, the mortgage investors, housing, work to borrow bank loans to develop projects and complete the housing project, then the mortgage is also normal work

Ho Chi Minh City Department of Natural Resources and Environment, when announcing real estate projects, mortgaged houses should provide more information about the purpose of mortgage loans of investors such as: to develop the project; or to build works, houses in the project; or to make a bank guarantee … to help consumers get complete information before deciding to buy a home.

The association also requested the mortgage bank to supervise the mortgagor (the investor) using the credit and mobilized capital of the customer for the purpose of completing the project, Assignment to customers, the implementation of the mortgage to carry out procedures for granting certificates of ownership of houses to customers in accordance with regulations.

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