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Hanoi to examine Keangnam management fees

Released at: 14:48, 26/05/2015

Hanoi to examine Keangnam management fees

Deputy PM Hai directs People's Committee to investigate claims that management fees are still to be reimbursed.

by Quynh Nguyen

Deputy Prime Minister Hoang Trung Hai has told the Hanoi People’s Committee to investigate media reports that bring into the question the payment of maintenance fees at Vietnam’s tallest building, Keangnam Hanoi Landmark Tower, and then report to the Prime Minister.

South Korean media have already reported that the tower is up for sale with a price tag of $770 million, and residents have previously expressed their anxiety over losing maintenance fees totaling $7.4 million, with a petition having been submitted to the government.

The $7.4 million was collected by the investor, Keangnam Enterprises, from more than 900 customers who purchased apartments since 2010. As a rule, buyers must pay maintenance fees in advance, with reimbursement coming as soon as a building management department is established.

According to residents, however, the building management department was elected and set up three years ago but the maintenance fees have not been returned.

There is also some dispute over the total, with Keangnam saying $5.8 million was collected, not $7.4 million.

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