Kosy Joint Stock Company faces customer disputes in Thai Nguyen

Kosy Joint Stock Company is facing significant backlash from hundreds of customers in Thai Nguyen province regarding its real estate projects. The company has reportedly used loan and capital contribution agreements as a method to bypass regulations for capital mobilization, rather than standard sales contracts.

In projects such as the Kosy Song Cong Urban Area and Kosy City Beat, many customers have paid up to 95% of the land costs but have yet to receive their land or land use certificates. Affected individuals report that despite making substantial payments, they are unable to build homes or access bank loans due to the nature of their legal agreements with the developer. Many customers have expressed frustration as they continue to receive only vague assurances from the company's management.