Hanoi explains why Tan Hoang Minh's apartment building has its pink book "suspended"

The above information has just been responded by the Hanoi People's Committee to the residents of D'.ElDorado 2 apartment building, after the request to issue certificates of land use rights, house ownership and other assets attached to land to apartment owners (pink books). It is known that the investor submitted the application since April 2020, but up to now, the residents of the project have not been granted the books.

Hanoi authorities said that this is a high-rise housing project combining commercial services and hotels at land lot HH2 of the land use rights auction area of ​​Xuan La ward, Tay Ho district (commercial name is D'.ElDorado) which was allocated land in 2012 - 2014.

In 2015, the project was granted a certificate of land use rights, house ownership and other assets attached to land by the Department of Natural Resources and Environment to Phu Thanh Construction Investment Company (Phu Thanh Company), a member of Tan Hoang Minh Group.

Five years later, the Hanoi Land Registration Office received the application from the investor of the D'.ElDorado 2 apartment building to issue pink books to home buyers at the project. Through review, this agency discovered that the land use right certificate was being mortgaged at Saigon - Hanoi Bank (SHB), Ham Long branch.

On December 6, 2021, SHB Bank agreed to lend Phu Thanh Company the certificate to carry out procedures to record assets attached to the formed land, and issue certificates of ownership of houses and assets attached to land for products in the project.

On the same day, Phu Thanh Company submitted a supplementary certificate borrowed from SHB to the Hanoi Land Registration Office. However, this certificate showed that the project was mortgaged at SHB. Last June, the Hanoi Land Registration Office returned the file because it did not meet the conditions for settlement because the project had not been released from mortgage.

On June 29, 2023, the Land Registration Office held a meeting with the building management board and the investor to discuss and agree on the above contents.

D'.ElDorado 2 project started construction in March 2018 on a land area of ​​nearly 3,200 m2; construction density 49.3%; designed with 27 floors above ground and 3 basements; a total of 402 apartments with areas ranging from 55-153 m2.

Not only this project, Tan Hoang Minh group of companies has previously mortgaged a series of assets including large projects, shares, and bank accounts as collateral to borrow capital.