NOXH Ly Thuong Kiet: developer tightens brokerage activities and deposits

CTCP Đức Mạnh has issued a notice prohibiting all employees and the project management board from facilitating brokerage activities, making promises, or accepting deposits for apartments under the NOXH Ly Thường Kiệt social housing project. The investor said sales and related procedures must comply with legal regulations and be carried out through the competent state agencies.

Investor reiterates ban on brokerage and deposits

In a notice dated April 7, 2026, signed by Nguyen Thi Chi, General Director and legal representative, Đức Mạnh stated that all company staff and the project management team are strictly prohibited from guiding brokerage, promising, or accepting deposits for apartments at NOXH Ly Thường Kiệt.

The investor also emphasized that it has not received any purchase applications or deposits to date, whether directly or from any organization or individual. Đức Mạnh further said it has no agreement, cooperation, or authorization with any unit, real estate agency, or individual to advertise, broker, or receive deposits for apartments.

According to the notice, the company will not be responsible for any employee or project manager who unilaterally directs brokerage, promises, or deposits to any unit or individual. If such conduct is found, the employee will be terminated and held legally accountable.

Registration stage previously announced; not a formal purchase application

In early March 2026, Đức Mạnh publicly announced on its corporate website instructions to register to purchase NOXH Ly Thường Kiệt and the “Registration Form for the Purchase/Lease of Social Housing at 324 Ly Thuong Kiet.” At that time, the project was described as being in the information disclosure stage and not yet accepting purchase applications.

Regarding the registration form, the developer previously stated it would accept purchase or lease registrations from February 1 to March 31, 2026. Đức Mạnh clarified that this is only a registration of interest, not a full purchase application with proof of eligibility, and therefore different from the official application process for social housing.

“Accepting registrations during this stage helps the investor gauge public interest and provides a basis for compiling information and preparing subsequent steps. This is not a formal reception of purchase applications,” Đức Mạnh said.

Legal process for receiving purchase files

On the timing of receiving purchase files, Đức Mạnh said that before the sale, the company must report to the Department of Construction to publicly announce the start and end dates for filing purchase applications. It must also disclose the number of units, areas, and prices. The announcement must be made at least 30 days before officially receiving purchase applications.

Project scale and location

The Ly Thường Kiệt NOXH project is located in Dien Hồng Ward, District 10, Ho Chi Minh City, on Ly Thuong Kiet Street at a crossroads with wholesale centers in Districts 5, 10, and the old District 11. The site is 6 km from Tan Son Nhat airport and 2.5 km from Saigon Station.

The project includes four 25-story towers with a total of 1,254 units: 755 NOXH units for sale (34.53–77.01 m2), 270 NOXH units for rent (34.53–73.38 m2), and 229 commercial housing units.

Demand and beneficiary allocation noted by industry

Commenting on the project, Le Hoang Chau, Chairman of HoREA, said NOXH Ly Thường Kiệt has specific characteristics related to land origin and beneficiary distribution. He noted that under regulations, 50% of units are reserved for armed forces, while the remainder is allocated to civilians. Of the remaining stock, about 70% is expected to go to a special priority group, including households and individuals affected by state land recall.

Mr. Chau said that through discussions with the developer, public demand exceeds the project’s capacity. With a scale of about 770 units, the project has recorded more than 12,000 registration applications for purchase.