Company accumulates land for many years to have a large land fund
After the land viewing session in the Yen Bai lake area, reporters of Lao Dong Newspaper continued to be scheduled by brokers to come to the headquarters of Loc Son Ha Real Estate Investment Joint Stock Company (abbreviated as Loc Son Ha Company) at 197 Dai La Street, Hanoi to meet directly with business leaders.
At the company's office, the person receiving reporters was Mr. Nguyen Anh Tu, who was very young, introducing himself as the General Director of Loc Son Ha Company.
Observations at the headquarters show that behind this leader is a fairly professional brokerage team. Dozens of employees sitting in front of computers continuously post land sales advertisements and search for potential customers through cyberspace.
When reporters expressed concern about depositing while the land was not legally complete, Mr. Tu gave many reasons to reassure them.
According to this director, around mid-February this year, all legal documents of the land area will be completed.
Currently (January 2026), our company only accepts reservations. After issuing the book, it will be arranged according to priority rights. Customers who deposit first will be able to choose the lot first," Mr. Tu said.
According to the General Director of Loc Son Ha Company, the land area of about 1.3ha in Yen Bai commune initially originated from mixed land. The enterprise had to collect land many years ago to have the adjacent area as it is now.
This area has a total of 5 land books, with an area of about 1.3ha. We gradually gathered them from many years ago to get like this," Mr. Tu said.
Currently, the business only receives a reservation deposit of about 50 million VND for each customer.
According to Mr. Tu, this amount is quite small compared to the value of a land plot, so customers do not need to worry.
Deposit only 50 million VND. When you have the book, customers can completely buy, sell and transfer it normally," this person said.
In the exchange, Mr. Tu said that the Yen Bai lake area is where the enterprise has implemented many land plot projects before. Most of the land fund that the company has implemented in this area is almost sold out.
“In Yen Bai, we have made many products. We are also one of the largest land plot separation teams there. If our team cannot implement it, it will be very difficult for other units to do it,” Tu affirmed and said that land-related activities in the locality are affected by many factors, including changes in mechanisms, policies and administrative management contexts, making implementation not always favorable.
However, according to Mr. Tu, Loc Son Ha Company "does not have obstacles" in procedures when doing it. Because, although the administrative apparatus has been arranged according to the two-level government model, some specialized units under the old district level still continue to process land dossiers.
Specifically, the branch of the land registration office of the old district currently still receives and processes dossiers normally, while the commune level does not have full functions and conditions to undertake all related procedures.
The transformation of the apparatus takes place quite quickly, if all dossiers are pushed to the commune level, it will be very difficult for the locality to handle them all. Therefore, the old district-level specialized units still have to continue to solve the work in the transitional period, and then gradually hand over according to the roadmap," Mr. Tu said and revealed that the investment cost in this area is relatively large due to the uneven terrain, and the cost of leveling and making infrastructure.
At the time the enterprise collected land, most of the area was mixed land, including garden land, residential land and even pond land.
“We have to buy each area, then gradually implement the conversion of land use purposes, leveling ground, completing infrastructure and carrying out related procedures. This process is gradually being implemented to form products like today,” Tu revealed.
Authorities intervene to inspect 1.3ha land
From January to February 2026, reporters continued to receive many updates on progress from sales staff of Loc Son Ha Company.
To verify the information, reporters sent images and documents related to the land to Yen Bai commune authorities for verification.
Talking to Lao Dong Newspaper, Mr. Le Khanh Duong - Deputy Head of the Economic Department of Yen Bai commune said that the commune leaders have directed on-site inspection of the reflected land area.
According to Mr. Duong, through initial inspection, functional agencies have prepared dossiers to handle violations for the act of destroying land, leveling land with specialized water surfaces, causing loss of land use capacity for the identified purpose. The two people named in the two land plots at the reflected location who were handled are Mr. Nguyen Ngoc Hoang (born in 1977) and Mr. Nguyen Anh Tu (born in 1998).
These individuals have a family relationship of father and son and have complied with the violation handling decision," Mr. Duong said.
According to information from local authorities, the above-mentioned land plots are currently not in the name of Loc Son Ha Real Estate Investment Joint Stock Company.
Therefore, functional agencies have not been able to clearly determine the role or legal responsibility of this enterprise for the land plot.
The company mentioned is not the entity named in the land plots, so the responsibility cannot be clearly determined," Mr. Duong said.
However, this is different from the information provided by the business representative to the reporter.
According to Mr. Tu, who claims to be the General Director of Loc Son Ha Company, the 1.3ha land plot actually includes 5 adjacent land plots under the land use rights of 5 different households. These land plots are said to have been collected by businesses to serve land subdivision.
According to Mr. Duong, this is not the first time a similar situation has appeared in this area. Previously, around 2020, a land plot near Yen Bai Lake was also formed in a similar way to the 1.3ha land plot that reporters reflected.
Mr. Duong also affirmed that he will continue to inspect, verify and handle violations for the remaining 3 land plots in the land area of 1.3ha.
On March 11, 2026, when reporters contacted the Yen Bai commune government, local leaders said that the entire land area believed to belong to Loc Son Ha Company (registered under Mr. Tu and his family's name) as previously reflected is still in its original state. According to the government's confirmation, there has been no infrastructure construction or road construction to subdivide plots for sale as Mr. Tu previously introduced information.
