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HomeSecurityApartment owners claim assault outside Vingroup’s Hanoi HQ — Radio Free Asia

Apartment owners claim assault outside Vingroup’s Hanoi HQ — Radio Free Asia

A group of owners of three luxury apartments in Vietnam’s tourist resort said they were assaulted as they gathered in front of Vingroup’s headquarters in Hanoi to claim their rights.

The protesters, from Vinpearl Joint Stock Company, are selling the Vinpearl Empire Condotel (VEC) and the Vinpearl Beachfront Condotel (VBC) in the seaside resort town south of Nha Trang, and the Vinpearl Riverfront Condotel (VRC) in Da Nang on the central coast. ) unit was purchased. , a unit of a Vietnamese conglomerate.

They protested to the Vietnamese capital on November 15 because they said Vinpearl had not honored the apartment contract and was renting out the room without paying the agreed amount to the owner. Owned.

Dozens of apartment owners gathered near Vincom Plaza Long Bien Building, where Vingroup’s headquarters is located, and asked to meet with company officials to settle the dispute. They said they met security guards in military-style camouflage uniforms and a young man with tattoos. A protective barrier was installed to prevent it.

A VEC apartment owner told RFA Vietnamese that as he approached the company’s headquarters, he grabbed a box of red t-shirts that a group of young people had planned to wear when going to negotiations. I was.

The owner of the Vinpearl apartment in Da Nang has a t-shirt with yellow text that says “VIN asks to return the pink book to VRC Danang residents”, while the VEC t-shirt has You have no messages. cause.

Two guards in camouflage uniforms and one in a white guard uniform took the shirts back when a foreigner who owned one of the units in Nha Trang by his Vietnamese wife took them back. I broke my arm when I got it back.

A video clip taken at the scene showed a man with a nosebleed, and protesters say he was beaten by people in plain clothes and pushed by bin loop security guards. The man had a broken nose and had to be treated in hospital, Hoa said.

The protesters eventually broke into Vingroup’s headquarters and were able to meet Ho Thi Thanh Thuy, Vinpearl’s customer service manager. But when a female customer pulled out a red shirt and asked about the assault at the gate, security rushed in and grabbed the shirt.

Hoa told RFA Thuy told protesters.

sold above market price

According to a document issued by the Department of Natural Resources and Environment, Khanh Hoa Province on June 9, 2022, the VEC project includes 1,200 land parcels listed as “urban residential areas (not forming residential units).” I have an apartment. The owner could not live there permanently, but could rent the apartment to tourists.

In 2016, Hoa bought an apartment in a VEC multi-purpose building for VND2.3 billion (USD100,000), when the market price was only VND1 billion at the time.

Another VEC investor, who wished to be known by the pseudonym Hong due to the sensitivity of the matter, told RFA that in the purchase agreement between her and Vinpearl, the apartment would be under the permanent ownership of the purchaser. said it was listed in the Pink Book. The other investor received it is recorded as a tourist apartment/condo that cannot be settled and has no clear legal framework.

Ms Hong has yet to receive the Pink Book and Red Book (certificate of land use rights) for her apartment in VEC, and Vinpearl said Khanh Hoa provincial authorities were responsible for the delay.

“According to the Real Estate Business Act, an investor can only pay 95% of the cost of an apartment if the customer does not have the Pink Book, but Vinpearl took all my money without giving me the Red Book six years ago. is illegal./Pink Book,” she said. The apartment owner can only pay her remaining 5% after receiving the red and pink books.

Hong said investors were also dissatisfied with the terms of the sales contract, saying Vinpearl would use 2% of the apartment’s value as maintenance funds and set up a building management board to oversee the funds. . She said that to date Vinpearl has not set up a board of directors or reported on how the fund is being spent.

Rental apartment management program

When they signed the deal with Vinpearl, Hoa and other investors kept the unit under the “Apartment Management Program” for 50 years, promising to pay 10% of the annual apartment price for the first five years. was leased to the company. From the 6th year onwards, we will make a profit from the tourist rental and pay the rest as a management fee.

In the first five years (2016-2021) Vinpearl has delivered on its promise. However, in the first half of this year, the company did not pay rent to apartment owners, citing capital losses due to the lack of tenants. However, Vinpearl did not provide unit owners with a report for the rental units for that period.

Ms Hong told RFA someone who lives near the building told her many people came to rent the rooms after COVID-19 restrictions were lifted.

“At night the lights are on in the apartment, but Vinpearl said it was just the lights. [people] We rent overnight in the first six months of the year,” Hong said.

Hundreds of investors in the three projects want to stop subleasing and take back their apartments to manage them or rent them out through other companies, but the sublease agreements contain clauses that allow the buyer to cancel the management agreement. Despite being included, Vinpearl refuses to negotiate five years later. The company won’t even cancel the contract if the owner pays her stipulated 8% penalty unless her 90% of the owner agrees to cancel.

Hoa said about 550 owners of tourist apartments in three projects formed a group to find ways to deal with the company. Many owners suspect Vingroup’s subsidiary won’t return the apartments because they want to buy them back cheaply, she said. Company staff offered Hoa from her $1 billion to her US$60,000 (US$40-60,000) for her apartment, she told her RFA.

Will Vinpearl hand over management to Melia?

According to Hoa, there are reports that Vinpearl transferred the project of leasing tourist apartments to Melia Vietnam Co., Ltd and changed the names of the apartments to Melia VEC, Melia VRC and Melia VBC.

“Vinpearl worked alone with Melia to transfer the rental management without notifying the owner, indicating it was a business partnership,” Hoare said. “Vinpearl did not disclose the contents of the cooperation agreement, saying it was not obligated to disclose it.”

Not all apartment owners are rich, buying with years of savings and bank loans at 13% annual interest. The fact that Vinpearl doesn’t pay interest makes their lives miserable, she said.

RFA sent emails to Vingroup and Vinpearl, but received nothing but an automated reply from Vinpearl’s customer service department saying they would reply “as soon as possible.”

Reporter also known as Melia Vietnam. The person who answered the phone said the correspondent was out and had set another date for the meeting.

Vietnam’s state media has remained silent about the violence surrounding the Nov. 15 protests in Hanoi.

RFA Vietnamese translation. Written in English by Mike Fern.

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