On May 7, the People's Committee of Ba Ria - Vung Tau province issued a decision to administratively sanction Long Gia An Company Limited (headquartered at 517 30/4 Street, Rach Dua Ward, Vung Tau City) for violations in real estate business activities.
Previously, this enterprise signed a deposit contract with Ms. B.T.K.H to transfer land at the Gia An Residential Area project, Long Tan commune, Dat Do district (now Long Dat district). However, at the time of signing the contract, this real estate did not fully meet the conditions according to the law. That is, there is no written notice to the provincial housing management agency about the real estate that is eligible for sale or lease-purchase.
For the above violation, the Provincial People's Committee decided to fine Long Gia An Company Limited VND 500 million. At the same time, suspend real estate business activities for the Gia An Residential Area project for 4 months and 15 days, from the date of issuance of the penalty decision.
