Since establishing a task force to tackle obstacles in granting ownership certificates (pink book) for commercial housing projects, Ho Chi Minh City has resolved a substantial number of pending cases. However, some projects remain stalled due to complicated legal and financial issues.
According to the city’s Land Registration Office, the task force has held more than 60 meetings to review and address difficulties in 251 housing projects. Of these, 219 projects have met requirements, resulting in pink books being issued for 33,035 apartments and houses, while 9,705 cases have been transferred to tax authorities. Nevertheless, 32 projects remain unresolved.
Key obstacles include unclear financial obligations and project boundaries, especially in cases where developers have mortgaged land or assets to banks. Authorities now require developers to settle these issues before certificates can be granted to buyers.
One notable case is the 4S Linh Dong apartment complex in Hiep Binh Ward, developed by Thanh Truong Loc Company. Despite handing over 1,114 units to buyers since 2014, the project has yet to secure pink books due to unresolved issues related to additional financial obligations, boundary determination and allocation of resettlement housing. Although the developer has addressed several concerns following task force meetings in late 2025, buyers are still waiting for certificates.
Similarly, the Residential Area No. 1 project in Thanh My Loi Ward has seen little progress despite multiple reviews. Authorities have requested the developer to fully report on project implementation, infrastructure handover, and financial obligations before submitting recommendations to the city government.
At the K26 apartment complex in Hanh Thong Ward, developed by Project Management Unit 98 under the Ministry of National Defense, 640 households have been waiting for pink books for 16 years without resolution.
One major obstacle is bank-mortgaged projects. At Khang Gia Go Vap apartment complex, home to over 1,000 units, residents have been unable to obtain certificates since 2013 because the developer used the land certificate as collateral and committed construction violations. Residents say they have been unable to contact the developer or secure intervention from higher authorities.
A similar situation affects more than 800 apartments at Phu Thanh complex, where buyers have paid over 95 percent of the property values, yet certificates remain pending for nearly 15 years due to the developer mortgaging future assets to banks. Despite mediation efforts involving local authorities, banks and residents in 2024, no progress has been made.
Addressing these concerns, Director of the Department of Agriculture and Environment Nguyen Toan Thang said developers are required to release mortgaged assets before authorities can revoke existing certificates and issue new ones to buyers.
Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, emphasized that homebuyers should be considered third parties who are unfairly affected by financial arrangements between developers and banks. He suggested that disputes should either be settled between developers and banks or brought to court, while authorities must take responsibility for closely monitoring and resolving the cases.
