229 houses along Hoa Quy - Dong No riverside have been funded

On April 12, Mr. Tran Van Hoang, Deputy Director of the Department of Construction of Da Nang City, signed Decision 2202/SXD-QLN on capital mobilization for the project to expand the Hoa Quy - Dong No riverside urban area to the East.

Accordingly, 229 houses in the project to expand the Hoa Quy - Dong No Riverside Urban Area to the East, Hoa Hai Ward, Hoa Quy (Ngu Hanh Son District), are eligible to mobilize capital through capital contributions, business cooperation, joint ventures, and associations of organizations, households, and individuals according to the provisions of Clause 2, Article 69 of the 2014 Housing Law and Clause 3, Article 19 of Decree No. 99/2015/ND-CP.

The Department of Construction of Da Nang City requires the investor, Dia Cau Joint Stock Company, to be responsible for the accuracy of the information and attached documents.

At the same time, capital mobilization through capital contribution, investment cooperation, business cooperation, joint ventures, and associations of organizations, households, and individuals must be through capital contribution contracts or investment cooperation contracts or business cooperation contracts; ensuring the contents according to regulations.

Parties participating in capital contribution, investment cooperation, business cooperation, joint venture, and association are only allowed to share profits, in cash or shares, based on the capital contribution ratio as agreed in the contract.

Investors are not allowed to apply the above-mentioned capital mobilization form or other capital mobilization forms to divide land use rights in the project to the capital mobilized party, except in the case of contributing capital to establish a new legal entity to be assigned by the State as the investor of the housing construction project.

In case of capital contribution to establish a new legal entity to be assigned as the investor, the business cooperation contract shall be implemented in accordance with the provisions of the law on investment and relevant laws.

The signing of contracts for the purchase and sale, or lease-purchase of future housing in the project to expand the Hoa Quy - Dong No riverside urban area to the East must comply with the provisions of Article 55 of the 2014 Law on Real Estate Business and Point b, Clause 2, Article 19 of Decree No. 99/2015/ND-CP.

The Department of Construction requested that the investor use the mobilized capital for the right purpose of building commercial housing in the project to expand the Hoa Quy - Dong No Riverside Urban Area to the East.

Real Estate - Da Nang: 229 riverside houses in Hoa Quy - Dong No mobilize capital — Project to expand Hoa Quy - Dong No Riverside Urban Area to the East.

In case of misuse of mobilized capital or misappropriation of mobilized capital, the amount mobilized in violation of regulations must be returned, compensation must be paid and administrative sanctions must be imposed according to the provisions of the law on administrative sanctions or criminal liability must be prosecuted according to the provisions of the law.

Dia Cau Joint Stock Company implements the project in accordance with the provisions of law on investment, land, housing, construction, environmental protection, fire prevention and fighting and related laws. At the same time, this enterprise mobilizes capital and conducts real estate business in accordance with the provisions of law on housing and real estate business.

The investor is fully responsible before the law in case of violations in project investment, construction, and real estate business at the project.

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