Bac Ninh is one of the industrial capitals in the North, concentrating a series of FDI giants in the fields of technology equipment manufacturing, electronics, and semiconductors.
In recent years, Bac Ninh has also become a destination for a series of investors in the real estate sector.
However, in addition to the positive aspects, in some projects, there are cases of inviting and enticing people to participate in transactions at a time when legal procedures have not been completed and business and capital mobilization are not allowed according to regulations.
This situation poses a potential risk of a real estate market bubble, causing disputes, disorder in security and society, negatively affecting the local socio-economic development situation.
The project has just filled the ground, and has been widely invited to book
At the end of July 2025, a reporter from Lao Dong Newspaper was present at the Bich Son new residential area project (Viet Yen ward, Bac Ninh province).
This project has the commercial name Bich Son Central Point with a total area of 5.25 hectares, the investor is HLC Urban and Industrial Construction Development Joint Stock Company.
Inside the project, some workers, excavators, and cranes are still leveling the ground to create a flat surface. However, outside the project, a series of brokerage offices have sprung up, all of which have signs stating: General Agency for sales or Bich Son Central Point project consulting point.
On the road leading to the project, there are dozens of such signs. A team of real estate brokers set up umbrellas, set tables and chairs, and invited people to participate in land investment. The bustling scene is no less than a temporary market.
We stopped by a brokerage office across the project. Here, the group of brokerage staff said that they belong to SGO Real Estate Joint Stock Company, a company headquartered in Hanoi, which is a direct distributor at the Bich Son Central Point project.
The group of employees introduced the potential for price increases of the project, and invited us to sign a charity booking form with a fee of 50 million VND for a plot of land.
The booking form provided by this group of employees has a hanging stamp of SGO Real Estate Joint Stock Company, with the address on the 2nd floor of HPC Landmark 105 building (Ha Dong, Hanoi City).
"The project has 70 - 80 lots booked, if we don't decide quickly, we will run out of opportunities," the broker told us.
However, this group of employees also admitted that the project had not completed the legal procedures, so it was not eligible for transfer according to regulations.
Despite the warning of the Provincial People's Committee
At the Giap Nguot - Trai Cau New Urban Area project (Bac Giang ward, Bac Ninh province), we recorded a similar situation.
The project has the commercial name of Dream City, with a total area of about 12 hectares, invested by HTV Trading and Investment Joint Stock Company, and the project developer is Land Mass Cons Investment Company Limited.
This project only had a document from the Department of Construction announcing that 80/265 plots of land were eligible for transfer on August 12 (equivalent to 30.1% of the plots of land in the project). However, since the beginning of July 2025, there has been a lot of information on social networks about inviting people to deposit and reserve seats at the project.
Contacting some phone numbers of brokers who posted publicly, at the end of July, we were invited to the Land Mass Bac Ninh Real Estate Office (Ly Anh Tong Street, Vo Cuong Ward, Bac Ninh Province).
Here, we were told by the real estate broker that the project had been booked for over 90% of the land lot.
To prove it, the broker showed us some booking contracts in this project.
The contract stated that the booking receiving unit was Land Mass Real Estate Joint Stock Company located in Thang town, Hiep Hoa district, Bac Giang province (old) now Hiep Hoa commune, Bac Ninh province.
"For example, if you book a place in LK3 area, this area has 10 lots with 20 people booking, then you will be given priority to choose a draw to choose 10 people to buy. If I don't win the lottery, I will return the money to you," said the broker.
However, according to the broker, the deposit will be transferred to their personal account instead of to the company account. This poses many risks to people when making transactions, if there is a dispute later.
Continuing to investigate, we learned that on July 16, the People's Committee of Bac Ninh province issued an official dispatch warning about the above project.
Accordingly, Vice Chairman of the People's Committee of Bac Ninh province Pham Van Thinh assigned the Department of Construction to preside over and coordinate with relevant agencies to inspect and clarify information related to the sale of the Dream City project when not qualified; check the investor's responsibility in allowing the above incident to happen and request a final solution.
The Department of Construction is responsible for rectifying and guiding real estate project investors to carry out the naming, advertising, and transfer in accordance with the provisions of law.
According to Article 24 of the Law on Real Estate Business 2023, to be able to open for sale future housing, investors must have full legal documents including: investment policy decision, 1/500 planning, construction permit, and completion of financial obligations. After completing the foundation, the investor must notify the provincial management agency to confirm eligibility for sales.
Within 15 days from the date of receipt of the notification, the state management agency is responsible for checking and responding in writing to the investor about the housing eligible for sale or lease-purchase.
At that time, the new investor is allowed to open for sale, collect money, and sign contracts with customers.
