In November 2009 the Quang Nam People's Committee gave the green light to the Agricultural and Rural Investment Consulting and Sports Tourism Services STO company to build it next to the Dien Nam-Dien Ngoc industrial complex.
The project was to span 18 ha and cost over VND708 billion (US$29 million).
Infrastructure and 3,688 houses were to be built and around 300 plots of land were to be sold. The project was supposed to be completed in 2012.
But with the developer falling behind schedule, in 2016 the Quang Nam People's Committee reduced the project area to 12.6 ha, with 2.4 ha used to build six towers with 1,176 apartments for workers and low-income people.
After 14 years, no infrastructure has been built, and only three of the six apartment blocks have even been started. One of them is near completion, while the other two only have a barebones structure.
At the apartment block that is near-complete, each apartment spans around 15 m2, including an attic. As they have been abandoned for long periods of time, they have been degraded.
Authorities said the main cause of the issue was due to STO's financial incompetence.
At a Quang Nam People's Council earlier this month, the provincial inspectors said there were signs of several violations by the main investor, including property appropriation. The matter is being investigated by the police.