Major realty firms to be inspected

HANOI - The Ministry of Construction is going to inspect a dozen real estate companies, including major ones, a source told the Daily.

Through the periodical checks, inspectors of the ministry will clarify some issues concerning the operations of realty firms, such as their observance of law and policies on planning, quality management and real estate business in 2011-2016.

Reportedly, among the 12 property firms to be examined are those of significant scale such as Vingroup, Sun Group, FLC, Hoa Binh Group, Novaland, Muong Thanh Group, Tan Hoang Minh Group, Bitexco Group, Empire Group, Dai Quang Minh, Phu My Hung Corporation and Nam Thang Long (Cipurtra). Each of these enterprises will undergo a month-long inspection.

In particular, the ministry will look into projects of Muong Thanh Group in Hanoi and Khanh Hoa Province, Bitexco’s projects in HCMC, Cocobay Danang project of Empire, and Dai Quang Minh’s construction of four main roads in Thu Thiem New Urban Area in HCMC.

Such inspection is a regular activity of the Ministry of Construction. Nevertheless, this inspection plan has stoked public curiosity and attention since some real estate projects have recently stirred up public concerns. Particularly, Muong Thanh Group has just been examined, with a number of irregularities detected such as violating height limits.

Speaking at a review conference for 2016 last Friday, Deputy Minister of Construction Le Quang Hung said the Government had assigned his agency to review urban planning. The ministry has already ordered inspections into controversial projects in Hanoi this week.

Source The Saigon Times