HCMC Task Force 1645 Moves to Issue Pink Books at Ha Do Group's Cat Lai Project

Overview

Ho Chi Minh City’s Task Force 1645 met on 25 September with developers to clear obstacles and consider issuing land-use certificates, known locally as pink books, to homebuyers at six commercial housing projects. Among them is the Khu dan cu Ha Do project in Cat Lai ward, developed by Cong ty Co phan Tap doan Ha Do (HDG, HOSE), where 106 of 112 lots remain uncertificated. The outcome matters because unresolved title issuance has frozen resale, mortgage and handover activity across the city’s residential stock.

Key Facts

• Task Force 1645, chaired by Nguyen Toan Thang, Director of the HCMC Department of Agriculture and Environment, met developers on 25 September.
• Six commercial housing projects were reviewed for pink book issuance.
• Ha Do Group’s Cat Lai project comprises 112 lots; 6 houses already hold pink books and 106 lots do not, of which 104 have been built.
• SetiaBecamex’s R8A subdivision within the EcoLake My Phuoc residential area covers 392 terraced houses.
• Long Hung’s Rach Dua housing project for officials and workers spans 34 terraced houses on more than 2,700 sqm.
• Song Than 2 apartment building in Di An ward has 119 units, with 58 certificated between 2014 and 2016.
• Two further projects, Van Gia Phuc in Binh Phu ward and Tan Thoi Nhat in Dong Hung Thuan ward, were also placed under review.

What Happened

At the working session, Nguyen Toan Thang reviewed the Cat Lai file and agreed in principle to issue pink books for the lots where houses have already been constructed. For the Rach Dua project, the task force agreed to grant certificates to buyers, but the developer must coordinate with the HCMC Land Registration Office to compile a document addressing the conclusions of the project inspection before the Department of Agriculture and Environment submits the matter to the city People’s Committee for direction.

For SetiaBecamex’s R8A subdivision, the task force agreed to proceed with pink book issuance for residents. At Song Than 2, the remaining apartments beyond the 58 certificated in 2014-2016 were cleared for issuance, subject to the developer clarifying environmental responsibilities at the site. The session was reported by Sai Gon Giai Phong. The article does not disclose a timeline for certificate delivery or any financial penalties attached to the unresolved lots.

Market Context

HDG closed at VND 15,850 on 25 September 2026 on the Ho Chi Minh Stock Exchange. The stock sits within the real estate sector, which has been sensitive to administrative bottlenecks around land pricing, inspection conclusions and certificate issuance rather than to demand alone. Pink book clearance is a recurring theme in HCMC policy meetings because unresolved titles suppress transaction velocity in completed projects and delay recognition of handover revenue for developers.

Strategic Significance

For HDG, the Cat Lai decision addresses the bulk of a project where 104 built lots have been waiting on title. Certificate issuance converts those units from contested inventory into transactable assets, which supports secondary-market pricing, unlocks mortgage collateral for buyers and reduces the legal overhang that has weighed on the developer’s project pipeline. The broader signal is procedural: the task force is resolving files project by project through inspection follow-up rather than through a blanket amnesty, so the pace of clearance depends on each developer’s documentation.

What to Watch

• Formal certificate issuance at Cat Lai and whether the count moves beyond the current 6 of 112 lots.
• Submission of the Rach Dua inspection-response document to the HCMC People’s Committee.
• Any HDG disclosure on Cat Lai handover or revenue recognition tied to certificate progress.
• Follow-up Task Force 1645 sessions covering the Van Gia Phuc and Tan Thoi Nhat files.
• HCMC Department of Agriculture and Environment guidance on environmental responsibility at Song Than 2.