People do not agree with the investor's plan
As Lao Dong Newspaper has reported, more than 5 years after paying the money, many customers who ordered houses at Project 88 Central (Long Bien ward, Hanoi City) have not yet seen this project implemented in practice.
Notably, according to PV's investigation, after many times missing the time to announce the signing of the purchase and sale contract, at the end of December 2025, the project investor, Berjaya - Handico12 Joint Stock Company, suddenly took action to request the liquidation of the purchase registration contract with customers.
In a document signed by Mr. Nguyen Quoc Viet - Chairman of the Board of Directors of Berjaya - Handico12 Joint Stock Company sent to customers, it is stated: "The Company realizes that some necessary conditions according to current legal regulations do not fully meet the conditions for the parties to proceed with concluding Real Estate Trading Contracts as initially planned. On the other hand, the Company is adjusting the project development plan and model to better suit the company's operating orientation in the coming period. Therefore, real estate trading contracts cannot be signed and there is no legal basis to carry out purchase and sale transactions according to the content recorded in the Purchase Registration Contract".
According to this document, the company proposes the following agreement plan: "(i) Return the entire deposit according to the Contract (with valid documents and invoices); (ii) Support an additional reasonable financial amount. The support is determined based on: the time the Company receives the money, with a total support level not exceeding the ratio of 6%/year (365 days) calculated on the value of the deposit and the actual time from the last day of the expected time the company issues a notice to sign the Real Estate Trading Contract to the time of signing the agreement to liquidate the purchase contract. This support is voluntary by the company to show goodwill, not an obligation arising from the Purchase Registration Contract. Return and support will be made immediately after the two parties sign the Purchase Registration Contract.
However, immediately after this move by the investor, a series of customers who ordered Project 88 Central reacted strongly, sending written responses expressing their disagreement with the proposed plan put forward by the company.
I strongly oppose this notice, a unilateral, unwilling and illegal action of Berjaya - Handico12 Joint Stock Company" - Ms. H.T. L.T, a customer, wrote in a document sent to the investor.
Mr. Vu Tuan Anh - representative of a group of customers who signed a contract to register to buy houses at Project 88 Central - said his opinion: "When real estate prices in Hanoi increased sharply, the investor suddenly made a move to terminate the contract with the reason of changing the project development model or transferring the project. This behavior, occurring when the delay is entirely the investor's fault, shows clear signs of illegal profiteering, possibly through disguised project sales at higher prices, regardless of the rights of customers who have trusted and contributed capital for many years".
Need to strictly handle investors who "do not keep their word".
To clarify the incident, Lao Dong Newspaper reporters went to Berjaya - Handico12 Joint Stock Company (Mua Dong Street, Thach Ban New Urban Area, Long Bien Ward, Hanoi City) to contact for work but have not received a response from this company.
Some contents that Lao Dong Newspaper reporters sent to the company, such as reflections from customers saying that they had paid orders of up to hundreds of billions of VND since 2020. In the context that the project is completely "stalled" and has no actual progress, what is the company managing and using this money for, or has it been transferred to other projects of Berjaya - Handico12?
At the same time, customers are also questioning whether the company shows signs of "illegal profiteering" by borrowing capital from people for 5 years, then waiting for real estate prices in Hanoi to rise to unilaterally terminate contracts to sell projects or products at higher prices.
Talking to PV of Lao Dong Newspaper, Mr. Nguyen The Diep - Vice Chairman of Hanoi Real Estate Club - said that although the investor offered a plan to return the deposit amount along with interest to customers, this is not a reasonable solution.
The phenomenon of investors "breaking the deal" to pay deposits to reclaim land when market prices increase is an act of profiteering and lack of prestige. In these cases, functional agencies must also intervene to control and handle them.
The fact that investors are not decent, do not maintain credibility, cause loss of trust, easily distort, and disrupt the market needs to be strictly handled so that people are not disadvantaged" - Mr. Nguyen The Diep proposed.
This expert also warned people to be careful when depositing money in projects when investors do not meet the conditions for buying and selling, depositing.
It is necessary to check the legal status and project documents before investing, to avoid being kept money and losing money unjustly" - Mr. Diep added.
