What information about real estate projects must be disclosed before commencing business operations?

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What information about a real estate project must be disclosed before conducting business?

The Law on Real Estate Business 2023 (No. 29/2023/QH15) clearly stipulates the disclosure obligations of real estate business enterprises. This is a prerequisite condition before any purchase and sale, transfer, lease, or installment sale transactions are conducted.

"Before putting real estate or a real estate project into business, a real estate business enterprise must fully, honestly and accurately disclose information [...] on the housing and real estate market information system in accordance with the provisions of this Law and on the information website of the real estate business enterprise."

— Clause 1, Article 6, Law on Real Estate Business 2023 (No. 29/2023/QH15)

What legal information of a real estate project must be disclosed?

According to Clause 2, Article 6 of the Law on Real Estate Business 2023 (No. 29/2023/QH15), the legal information of a project comprises four mandatory document categories:

• Decision on investment orientation or approval of investment orientation or approval of project investment;
• Decision on land allocation, land lease, or approval of change in land use purpose by the competent state agency;
• Information on detailed planning approved by the competent state agency;
• Sample contracts used for execution in real estate business transactions.

Additionally, according to Decree 94/2024/NĐ-CP, the legal information of a project also includes information as guided in Decree 96/2024/NĐ-CP (Clause 1, Article 9 of Decree 94/2024/NĐ-CP).

What information must be disclosed for residential buildings and construction works to be completed in the future?

According to Clause 3, Article 6 of the Law on Real Estate Business 2023 (No. 29/2023/QH15), enterprises must fully disclose the following information for residential buildings and construction works to be completed in the future:

• Type of real estate; location, scale, construction progress, usage function; information on the common use area for apartment buildings, mixed-use buildings;
• Basic design in the investment feasibility study report for construction that has been appraised; building permit (if applicable); construction notice; technical infrastructure acceptance documents and foundation completion acceptance (for apartment buildings, mixed-use buildings with residential units);
• Documents on land use rights;
• Guarantee agreement in the sale or installment sale of residential buildings to be completed in the future;
• Documents from the competent state agency confirming that the residential building to be completed in the future meets conditions for sale or installment sale;
• Restrictions on ownership rights, use rights (if any); mortgage status of residential buildings, construction works, land use rights, or real estate projects put into business.

What information must be disclosed for existing residential buildings and construction works?

According to Clause 4, Article 6 of the Law on Real Estate Business 2023 (No. 29/2023/QH15), for existing real estate, the information to be disclosed includes:

• Certificate of ownership of residential building and land use rights (or equivalent certificates under land law provisions). For residential buildings or structures in a project by an investor, only the certificate of land use rights for the land area where the real estate is constructed is required;
• Restrictions on ownership rights, use rights of real estate (if any); mortgage status of real estate, land use rights, or projects put into business.

What information must be disclosed for land use rights with technical infrastructure in a project?

According to Clause 5, Article 6 of the Law on Real Estate Business 2023 (No. 29/2023/QH15), for land use rights with technical infrastructure in a project (land subdivision and sale form), mandatory information includes:

• Certificate of land use rights for the land area that has technical infrastructure in the project;
• Documents from the competent state agency confirming that the land use rights meet conditions for transfer to individuals for self-construction of residential buildings;
• Documents on completion of construction investment of technical infrastructure works in accordance with the detailed planning and project progress approved by the competent state agency;
• Documents on completion of financial obligations related to land by the project investor, including land use fees, land rent and related taxes, fees, and land-related charges (if any) to the State for the land area with technical infrastructure in the project put into business;
• Restrictions on land use rights with technical infrastructure in the real estate project (if any); mortgage of land use rights or the real estate project put into business.

Where must enterprises disclose information on product structure and project transactions?

In addition to legal information, according to Article 9 of Decree 94/2024/NĐ-CP, enterprises must also submit to the national housing information system data on product structure (quantity, area of each type of real estate in the project) and transaction status, including: quantity, transaction prices, inventory of each real estate type, information on purchase and sale contracts, transfer contracts and project transfer data (if any).

What should enterprises pay attention to when fulfilling their information disclosure obligations?

Information disclosure must be conducted before executing any transaction contract — including sale, transfer, lease, or installment sale of real estate. Information must be posted simultaneously on the housing and real estate market information system managed by the State and on the information website of the enterprise itself. Information must ensure completeness, honesty and accuracy — violation may lead to serious legal consequences for both transactions and the enterprise.

If your enterprise is preparing to put a real estate project into business and needs to review the list of disclosure documents, establish a compliance legal process, or draft sample contracts in accordance with regulations, A&D Law Firm — a business law consultant in Vietnam — is ready to provide in-depth support.

This article is for general legal reference purposes only and does not substitute for legal advice for specific cases. For accurate advice suited to your enterprise's situation, please contact a lawyer specializing in the real estate business field.

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