Vietnamese apartment buyers risk living in unfinished
buildings
A man is pictured at
the unfinished Cao Oc Xanh apartment building in Ho Chi Minh City.
Buyers of several apartment
projects in Hanoi and Ho Chi Minh City have resorted to moving into
unfinished buildings, saying it is still better than continuing to live in
rented houses while waiting for sluggish constructions to be completed.
As condo projects
in Vietnam tend to reach completion behind schedule, some apartment buyers do
not have the patience when developers repeatedly ask them to keep waiting.
Consequently,
some buyers have started moving in as soon as the unfinished buildings have
the most basic utilities available, such as elevators, power and water
supply.
Such
apartments, however, pose numerous risks as those residential features
including things like water drainage or firefighting systems are yet to
undergo a construction completion inspection.
“At least we
can save on the monthly rental, which could be as much as VND5 million
[US$223],” V.T.N., a resident at the Cao Oc Xanh condo project in District 9,
Ho Chi Minh City, said.
N. moved in
her new apartment more than a year ago, when only one out of three proposed
blocks of the project, developed by the No. 8 Investment and Construction
JSC, was basically completed.
“We had to
wait for nearly four years before moving in,” she said. “We took a risk to
live there, so long as it had the power, water and elevator systems.”
However, N.
and other residents at Cao Oc Xanh are facing daily difficulties caused by
the incomplete infrastructure.
The whole
block has only one elevator, which breaks down every three days, while the
public yard is inundated whenever it rains, she said.
There are no
green trees around the buildings and no space for recreation for the elders
or children.
In Hanoi,
120 buyers of the Usilk City apartment complex in Ha Dong District are
sharing the same hardship.
The project,
developed by Song Da – Thang Long JSC, broke ground in 2008 with an
investment of VND10 trillion ($446.43 million). The project was designed to
feature 13 multi-purpose towers, including 2,800 apartment units and a modern
trade center.
Many people
paid between VND2.5 billion ($111,607) and VND4 billion ($178,571), or 50 to
80 percent of the unit value, to purchase apartments there.
However,
eight years on, only 120 people have been able to move in, and the project is
yet to undergo any completion inspection.
“The
project’s elevator and firefighting systems are uninspected,” said Nguyen
Ngoc Thanh, one of the Usilk City residents. “It also lacks a main power
supply system, and the drainage system is incomplete.”
In the
worst-case scenario, residents will be forced to leave those unfinished
apartments, such as what happened to buyers of the Bay Hien Tower in Ho Chi
Minh City last week.
Bay Hien Tower
Located in
Tan Binh District, Bay Hien Tower consists of 170 units and is developed by
Long Hung Phat Co. Ltd.
In late May,
the developer transferred 14 units to buyers, allowing them to move in even
though the construction company had yet to complete its utilities, posing a
high risk of fire, explosion and accidents.
On June 3,
the city’s construction department issued a document, recommending that
residents leave the unfinished building for safety reasons.
The
department recommended that buyers move to nearby rental properties, with the
Bay Hien Tower developer forced to cover their rental fees.
The city’s
administration and construction department have had several meetings with the
developer to rectify the situation, but Long Hung Phat executives had never
shown up.
The company
did send some representatives to work with authorities, and said it agreed
with the suggestion to have residents move out until the building is
completed.
TUOI TRE NEWS
|
Thứ Tư, 8 tháng 6, 2016
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