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Keangnam seeks deadline extension on maintenance fee refunds

Released at: 11:39, 10/06/2015

Keangnam seeks deadline extension on maintenance fee refunds

Developer and management board still to agree on exact sum and other matters as June 10 deadline approaches.

by Thu Hoang

Keangnam Vina is still in negotiations with the Keangnam Hanoi Landmark Tower management board over extending the deadline for refunding maintenance fees to residents.

Under a recent direction from the Nam Tu Liem District People’s Committee, Keangnam Vina must refund the fees, which are equal to 2 per cent of the combined value of apartments purchased, to residents prior to June 10.

“The developer and the management board have not yet agreed on a number of issues, such as the final sum, the total area that was charged maintenance fees, and the specific payment method,” according to a representative from Keangnam Vina.

The developer has calculated that maintenance fees collected from residents totaled some VND125 billion ($5.6 million), while the management board puts the figure at VND160 billion ($7.4 million).

“The two sides will hold further discussions to come to an agreement on inviting an independent auditor to determine the sum,” the representative said.

Keangnam Vina is working with the Nam Tu Liem district government and the management board to secure an extension to the June 10 deadline, so that agreement can be reached on all the abovementioned issues.  

The 72-storey tower, also known as Landmark 72, is located in Hanoi’s Nam Tu Liem district and is the tallest building in Vietnam. A court in Seoul recently issued a decision permitting the South Korean-based Keangnam Enterprises to sell the tower to address its debts.

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