Elusive Alpha King to feel brunt of angered buyers 20:55 | 09/06/2021
At least one homebuyer of the former Alpha City project is threatening to go to court with Alpha King, the Hong Kong-based developer which transferred the project to new ones, but has thus failed to fulfil its obligations to former customers of its sold units.
Elusive Alpha King to feel brunt of angered buyers
The customer told VIR that for a year, she has continuously approached Alpha Kingâs office in Ho Chi Minh City to ask for a refund of her deposit after purchasing three units.
VIR reported in March that several of Alpha Kingâs projects had been transferred to other developers, while representatives of the company were unable to be contacted. In 2019 and 2020, various parts of the business were handed over to others, while leadership at Alpha King changed with little information being available.
Alpha King status uncertainty with ventures handed over 10:38 | 10/03/2021
With an inactive website and telephone system, the resignation of a range of staff and officials, and projects appearing in the portfolio of other developers, inevitable doubts have arisen over the status of Hong Kongâs Alpha King in the Vietnamese market.
Alpha City, located in District 1 of Ho Chi Minh City, was transferred to Masterise Group in 2020, photo Le Toan
Alpha King Vietnam Real Estate Development JSC was established in Vietnam in 2012 developing complex real estate projects of office buildings, trade centres, and luxury apartment projects.
Alpha King became famous in Vietnam with the announcement of a range of mergers and acquisitions to develop the first three high-end projects in 2018: Alpha City, Alpha Town, and Centennial Saigon. All of those projects are located in prime locations in the heart of Ho Chi Minh City with sky-high prices.