Yes, Phú Mỹ Hưng apartments have pink books, with the vast majority of developments having completed the full issuance of pink books to residents thanks to 3 core factors: a methodical legal management model meeting international standards, a continuous commitment to issuing pink books on schedule for more than 30 years, and brand credibility tested in practice by tens of thousands of residents. In particular, this is rare in Vietnam’s property market, where delays in issuing pink books remain common among many other developers.
However, some PMH developments are still recorded as having unresolved legal issues and have not been issued pink books, notably Hưng Phúc Premier, where residents have been waiting for 4 years, as well as 4 other developments being addressed by Ho Chi Minh City’s Working Group 1645 in 2025. Therefore, buyers need to clearly distinguish between developments that have received pink books in full and those still undergoing procedures in order to make an accurate investment decision.
In addition, when compared directly with major developers in Ho Chi Minh City, Phú Mỹ Hưng continues to lead in the rate of pink books issued on schedule, with document-processing times faster than the industry average and the lowest history of legal disputes in the high-end segment.
To begin, the article below provides a comprehensive analysis of the pink-book status of Phú Mỹ Hưng apartments for each specific development, explains the foundations of the 30-year legal commitment and helps buyers accurately identify risks before committing their funds.
Do Phú Mỹ Hưng Apartments Have Pink Books?
Yes, Phú Mỹ Hưng apartments have pink books for 3 main reasons: the developer has maintained its legal commitment continuously for more than 30 years, most completed developments have finalised the procedures for issuing pink books to residents, and PMH’s legal-document management model was designed to international standards from the day it was established.
More specifically, the pink-book status of Phú Mỹ Hưng apartments is considered one of the rare bright spots in the history of property development in Ho Chi Minh City. While many other developers have faced waves of complaints over delays in issuing pink books lasting for years, Phu My Hung Development Corporation has recorded an outstanding rate of pink books issued on schedule, becoming a benchmark that homebuyers in Ho Chi Minh City commonly use when assessing a developer’s legal credibility.
What Underpins Phú Mỹ Hưng’s 30-Year Legal Commitment?
Phú Mỹ Hưng’s 30-year legal commitment is built on 3 core foundations: its international joint-venture origins with strict legal standards, a specialised internal document-management process, and the pressure of its brand to maintain its reputation in the high-end segment.
First, Phú Mỹ Hưng was established in 1993 as a joint venture between Taiwan’s Central Trading and Development (CT&D) and Vietnamese partners, operating under an international legal framework and project-management standards from the outset. This created a fundamental difference from purely domestic developers accustomed to fragmented, unsystematic legal-document management.
Second, Phu My Hung Development Corporation built an in-house legal department dedicated to working alongside each phase of project development. Instead of waiting until apartments are handed over before beginning to worry about pink-book procedures, as many other developers do, PMH completed the legal documentation (completion certification, acceptance, land-use fee payment) in parallel with the construction completion phase, significantly shortening post-handover processing time.
Third, brand reputation in the high-end segment creates counter-pressure: PMH’s target customers are high-income Vietnamese and foreigners, a customer group particularly sensitive to legal risk. Any delay in issuing pink books immediately affects brand value and sales. It is precisely this market constraint that is the strongest driver forcing PMH to maintain long-term legal commitments.
What Evidence Confirms That PMH Issues Pink Books on Time?
There are 3 specific groups of evidence confirming that PMH issued pink books on time over the course of 30 years: a list of major projects where certification has been completed for all units, positive feedback from tens of thousands of actual residents, and recognition from Ho Chi Minh City state agencies regarding the developer’s level of legal compliance.
Specifically, PMH’s major projects such as Sky Garden 1, 2, 3; Scenic Valley; Riverside Residence; The Panorama; Midtown (M-One, M-Infinity); Happy Residence; and many villa areas in Nam Thông, Mỹ Thái and Hưng Thái were all issued full pink books for every resident years ago. These projects represent thousands of apartments and villas with valid ownership certificates.
In addition, reviews by the PMH resident community across many reputable real estate forums consistently record that PMH’s issuing of pink books on schedule is the factor most often mentioned when users share their home-buying experience. This is social proof with higher practical value than any commitment from the developer.
Which Phú Mỹ Hưng Projects Have Pink Books?
There are 3 groups of PMH projects by pink-book legal status: those with full pink books (the majority), those in the process of completing procedures, and a small group still facing legal obstacles and not yet issued.
Below is a summary table of the pink-book status of typical projects in the Phú Mỹ Hưng urban area, District 7, Ho Chi Minh City, helping buyers verify legal status before transacting. The table is categorised into 3 statuses: pink book issued, being processed, and still facing obstacles.
| Project | Type | Pink book status | Land-use term |
| Sky Garden 1, 2, 3 | Apartment | Full pink book issued | Long-term (Vietnamese) |
| Scenic Valley | Apartment | Full pink book issued | Long-term (Vietnamese) |
| Riverside Residence | Apartment | Full pink book issued | Long-term (Vietnamese) |
| The Panorama | Apartment | Full pink book issued | Long-term (Vietnamese) |
| Midtown (M-One, M-Infinity) | Apartment | Full pink book issued | Long-term (Vietnamese) |
| Nam Thông and Mỹ Thái villas | Detached/semi-detached villas | Separate pink book issued | Long-term (Vietnamese) |
| Lot C12B-2, Lot S4-3 | Mixed-use apartments | Being resolved (2025) | 50 years until 19/5/2043 |
| Plot C17-2, Plot CR8-2B | Mixed-use apartments | Being resolved (2025) | 50 years until 19/5/2043 |
| Hưng Phúc Premier | Apartment | Still subject to outstanding issues | Not yet determined |
More importantly, buyers need to verify the specific legal status of each apartment through 2 official sources: online searches on the information portal of the Ho Chi Minh City Department of Natural Resources and Environment, or by visiting the Ho Chi Minh City Land Registration Office in person at 60 Truong Dinh, District 3.
Which PMH Projects Are Facing Legal Issues and Have Not Yet Been Issued Pink Books?
As of May 2025, 5 PMH projects are facing legal issues and have not yet been issued pink books, divided into 2 levels: projects being actively resolved through Working Group 1645 and projects still awaiting more complex resolution.
Projects being actively resolved comprise 4 projects for which Working Group 1645 finalised a plan at its meeting on 15/5/2025:
- Plot C12B-2 (Tan My Ward): 12 apartments and 18 shops. The Ho Chi Minh City People’s Committee has issued a pink book for the project, with a 50-year term until 19/5/2043. The developer has fulfilled financial obligations amounting to more than VND 45 billion. Individual apartments are awaiting separate processing.
- Plot S4-3 (Tan My Ward): 242 apartments and 18 shops. A pink book has been issued for the project land, covering an area of 4,630 m², with a 50-year term until 19/5/2043. Tax obligations are being completed so that individual pink books can be issued.
- Plot C17-2 (Tan My Ward): 19 apartments and 19 shops. A construction permit was issued in March 2024, and acceptance confirming eligibility for use was completed in 2025. The developer has paid more than VND 50 billion in financial obligations.
- Plot CR8-2B (Tan My Ward): 76 apartments and 9 shops. The Department of Agriculture and Environment has issued a land pink book covering an area of 2,643.6 m², with a 50-year term until 19/5/2043. Obligations of more than VND 28 billion have been fully settled, and acceptance was completed in 2023.
Projects still awaiting more complex resolution comprise Hung Phuc Premier, where the delay in issuing pink books has continued since 2020. Under the direction of the Ho Chi Minh City People’s Committee, the relevant departments and agencies are urgently reviewing the matter, and the outstanding issues are expected to be resolved by September 2025.
Why Have Some PMH Projects Been Delayed in Obtaining Pink Books?
There are 3 main reasons why some PMH projects have been delayed in obtaining pink books: difficulties in the process of determining financial obligations with the tax authority, delays in inter-agency coordination between the Land Registration Office and the Regional Tax Department, and the fact that some PMH plots have a 50-year land-use term and require more complex legal procedures.
More specifically, the pink-book issuance process in Ho Chi Minh City requires sequential coordination between several different state agencies. The developer submits the application to the Land Registration Office, which forwards it to the Tax Department to calculate and collect the registration fee, after which it is sent back for processing and the issuance of pink books for individual apartments. Each transfer between departments can take from several weeks to several months when there is an administrative backlog.
In addition, a distinctive feature of PMH compared with most other housing projects is that many plots in this urban area were granted permits with a 50-year land-use term from 1993 to 2000. This requires additional confirmation from the land management authorities regarding extension conditions and the appropriate type of pink book, creating a further delay in the process.
More importantly, buyers need to clearly distinguish between 2 types of delay in obtaining pink books in order to assess the level of risk accurately:
- Delay caused by administrative procedures: The project meets the legal requirements, and the documents are being processed within the system, while the buyer’s actual ownership rights remain protected. This is the situation with the 4 projects being resolved by Working Group 1645.
- Delay caused by legal disputes or incomplete financial obligations: This is a high-risk situation that should be avoided when buying a secondary-market apartment from a reseller.
Is Phú Mỹ Hưng More Legally Trustworthy Than Other Developers?
PMH leads in the proportion of certificates issued on time and its clean legal record, while other developers perform better in terms of the speed of expanding their housing portfolios. Overall, PMH offers the strongest legal reputation for buyers seeking a home or a long-term investment in Ho Chi Minh City’s premium segment.
More specifically, the table below directly compares the 4 largest developers in Ho Chi Minh City according to the 4 key legal criteria that apartment buyers need to consider before signing a contract. This information has been compiled from actual market data and residents’ feedback, rather than being a subjective assessment.
| Criteria | Phú Mỹ Hưng | Vingroup | Novaland | Hưng Thịnh |
| Proportion of projects with pink books issued | High (over 85%) | High (over 80%) | Average (60-70%) | Average (55-65%) |
| History of legal disputes | Very low | Low | Above average | Average |
| Average time from handover to certificate issuance | 6–12 months | 12-18 months | 18-36 months | 18-30 months |
| Property development experience | 30 years (since 1993) | 20 years (since 2001) | 15 years (since 2007) | 20 years (since 2000) |
However, it should be noted that this comparison is relative and depends heavily on each specific project. Even PMH has projects that have encountered legal obstacles, as analysed in the section above. What matters is that PMH has a system for addressing and resolving issues more quickly and transparently, with fewer cases in which delays in certificate issuance escalate into prolonged disputes.
Furthermore, foreign investors benefit from PMH’s particular advantage as one of the few developers in Vietnam familiar with the process of issuing pink books to foreign individuals and organisations for a 50-year term, a process that is considerably more complex than issuing long-term pink books to Vietnamese nationals.
If a PMH Apartment Is Slow to Receive Its Pink Book, How Are Buyers’ Rights Protected?
Yes, the rights of buyers whose PMH apartments are slow to receive their pink books are protected by 3 mechanisms: the 2023 Housing Law clearly stipulates the developer’s responsibilities and penalties; the complaints mechanism through Ho Chi Minh City’s Working Group 1645; and buyers’ right to carry out the procedures themselves on behalf of the developer when necessary.
More specifically, although delays in issuing pink books cause inconvenience and concern for residents, the current legal framework gives buyers more practical tools to protect their rights than before, particularly since the 2023 Housing Law came into effect.
What Penalties Does the PMH Developer Face If It Fails to Issue Pink Books on Time?
The PMH developer is subject to administrative penalties if it fails to submit an application for a pink book within 50 days of handing over the apartment, pursuant to Clause 8, Article 39 of the 2023 Housing Law. Buyers have the right to file complaints with the Department of Construction, the Department of Natural Resources and Environment of Ho Chi Minh City, or report the matter directly to Working Group 1645 for assistance in resolving the issue. If the developer refuses to co-operate in providing the documents, buyers may bring a civil claim before a court, requesting that the developer fulfil its contractual obligations. This is a right clearly protected by law and does not depend on the developer’s goodwill.
Is the Value of a PMH Apartment Affected When It Does Not Yet Have a Pink Book?
Yes, the value of a PMH apartment is affected when it does not yet have a pink book, with an actual discount of 5% to 15% compared with an apartment in the same location that has a complete pink book, depending on the level of legal risk and the expected waiting time. An apartment without a pink book cannot be used independently as security for a bank loan and cannot be sold through a standard notarised transaction; instead, it must go through a complex contract-transfer process. This reduces liquidity and limits the owner’s ability to optimise the asset in the short term. Once the project has been issued with complete pink books, the apartment’s value generally recovers and rises back to normal market levels.
