Hanoi villa project a ghost town

July 11, 2014 | 12:35

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French-style villas in Tu Liem Urban Development Joint Stock Company’s Lideco project are vacant, despite being sold more than a year ago, reported dantri.com.vn.

Weeds have taken over the once new pavement

Construction on the more than 600 French-style villas started at the end of 2007 and finished in 2013. By the end of 2013 more than 400 had been sold, but as of now only a few buyers have actually moved in while the remaining units sit abandoned.

No one has bothered to repair damaged lightposts

Tu Liem, which focuses on real estate and financial investment, was named among the 500 biggest companies in Vietnam by consultancy firm Vietnam Report. It posted net profits of VND9 trillion ($428.5 million) from revenue of VND40.9 trillion ($1.95 billion) in the first quarter of 2014.

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