Nam Long Group faces inspection over real estate violations

The Government Inspectorate of Vietnam has identified a series of legal and financial violations involving Nam Long Group across five real estate projects located in Ho Chi Minh City, Dong Nai, and Tay Ninh.

Key findings include failures to fulfill land-related financial obligations, mismanagement of apartment maintenance funds, and selling properties before completing required infrastructure or obtaining necessary bank guarantees. Specifically, at the Akari Hoang Nam project, the developer reportedly withheld maintenance funds and handed over homes before a medical station was constructed. In other projects, such as the Dong Nai Waterfront, contracts were signed before public information disclosure, and land use terms were omitted from sales agreements.

Nam Long Group stated that it has addressed several of the identified issues and has committed to completing all remaining recommendations issued by the Inspectorate.