Da Nang: MAT 5 - 6 building in Capital Square 3 urban area is qualified for business

Capital Square 3 urban area project (Ngo Quyen Street, An Hai Ward, Da Nang City) is invested by SIH Real Estate Company Limited, with a land use area of over 29,400m2. The project scale includes 7 high-rise apartment blocks and 1 VLC block. Of which, the MAT5-6 apartment block has 24 floors + elevator penthouse, with 586 apartments with an apartment floor area of 902.3m2.

The investor reported that the project's Land Use Rights Certificate has not been mortgaged. Based on the opinions of relevant agencies and units and the actual inspection of the construction progress at the project, the Da Nang Department of Construction confirmed that future housing (NOHTTTL) at the Capital Square 3 urban area project (MAT5-6 building) is eligible for sale according to regulations.

The project investor is responsible for the completeness, accuracy, and honesty of information about the project, the investor, and the NOHTTTL at the project; is responsible for ensuring that the NOHTTTL at the project meets the conditions for sale as prescribed in Article 24 of the Law on Real Estate Business. The signing of the contract for the sale of NOHTTTL must comply with the regulations and meet the conditions as prescribed by the law on real estate business.

The Da Nang Department of Construction requires investors to make the first payment for the sale of NOHTTTL not exceeding 30% of the contract value (including the deposit), the next payments must be consistent with the construction progress but the total must not exceed 70% of the contract value when the house has not been handed over to the buyer. No more than 95% of the contract value can be collected when the buyer has not been granted a certificate of land use rights and ownership of assets attached to the land according to the provisions of the law on land.

Deposits of no more than 5% of the house sale price may only be collected when the house has met all the conditions for being put into business as prescribed. Money collected from the buyer must be used to invest in the construction of the project for the correct purpose as agreed in the signed contract; comply with the provisions of the law on anti-money laundering.

Set up an account to receive and manage the maintenance fund for apartment buildings according to the provisions of Article 153 of the 2023 Housing Law; within 5 days of opening the account, the investor must notify the Department of Construction in writing of the account holder's name, the account number opened, the name of the credit institution where the account is opened, and the deposit term.

Implement the project in accordance with the laws on investment, land, housing, construction, environmental protection, fire prevention and fighting and related laws; fully perform the responsibilities and obligations of the investor and the house seller as prescribed.

Source: https://doanhnghiepvn.vn/kinh-te/da-nang-toa-nha-mat-5-6-khu-do-thi-capital-square-3-du-dieu-kien-kinh-doanh/20250806043630080