Đồng Nai investigates Alibaba Real Estate’s unlicensed land sales

Viet Nam News HCM CITY – The People’s Committee of Đồng Nai Province has instructed the provincial police to investigate the sale of house foundations by Alibaba Real Estate Joint-Stock Company in the province’s Long Thành District. Alibaba Real Estate advertised plots with foundations on social media. The real estate projects were located near the planned Long Thành International Airport, which was connected to National Highway No 51. However, none of the projects have been licensed. Many customers and real estate investors paid deposits on plots of land in Long Thành District, hoping to have a property near the airport. Chairman of the district People’s Committee Võ Tấn Đức said no real estate projects by Alibaba were licensed in the district, and asked customers to be careful when considering purchasing land from the company. Đức said Alibaba had advertised projects covering over 60 hectares of land in the communes of Phước Bình, Phước Thái, Long Phước and An Phước, which are all located near the planned airport. In Hamlet Four of Phước Bình Commune, the company advertised a 5.5ha project named Alibaba Centre Park II with over 340 house foundations. Đức said a woman from Bình Dương Province who is the director of real estate company Tia Chớp, had sold foundations through “co-operation contracts”. But in recent inspections, Long Thành District authorities found that no licence had been granted to the projects. In Long Phước Commune, inspectors found that Alibaba had leveled the ground and developed infrastructure to build a 20ha residential… [Read full story]