Binh Dinh extends completion time of trillion-dollar hotel and apartment project

Binh Dinh extends completion time of trillion-dollar hotel and apartment project

The completion time of Cadia Quy Nhon project has been adjusted. Meanwhile, the number of rooms of SALA Hotel project has been adjusted to reduce.

The hotel is in a prime location

On July 4, 2024, the Chairman of Binh Dinh Provincial People's Committee agreed to adjust the implementation progress of the High-class Hotel Service Trade Center Project (5-star hotel) at No. 01 Ngo May, Nguyen Van Cu Ward, Quy Nhon City.

Cadia Quy Nhon is located at the intersection of Ngo May, Nguyen Tat Thanh, An Duong Vuong, Xuan Dieu and Dien Hong streets, facing the sea. Photo taken in March 2024.

The Department of Planning and Investment of Binh Dinh province is assigned to guide investors in implementing procedures to adjust the Investment Registration Certificate according to regulations; at the same time, request investors to focus capital and human resources to implement the project to complete it according to the committed schedule.

It is known that Binh Dinh Provincial People's Committee agreed in principle that the project completion time is until the first quarter of 2026.

According to the Department of Construction of Binh Dinh province, the project at land plot No. 01 Ngo May Street, Quy Nhon City has the commercial name Cadia Quy Nhon; the Chairman of the Provincial People's Committee approved the results of the auction of land use rights to implement the project in Decision No. 3396, dated September 20, 2019.

The winning bidder is the Joint Venture of Phat Dat Real Estate Development Joint Stock Company, AKYN Investment Trade Service Joint Stock Company and 559 Investment Joint Stock Company (starting price is over 120 billion VND, winning bid price is over 126 billion VND).

Perspective of the High-class Hotel Service Trade Center Project (5-star hotel) at 01 Ngo May. Photo: Cadia Quy Nhon.

According to the approved detailed planning (in Decision No. 3580, dated October 7, 2016, adjusted and supplemented on March 6, 2018), the land area is 8,109.16 m2, construction density = 20 floors.

The project's implementing company is Ngo May Real Estate Investment Joint Stock Company, with a total investment capital of more than VND 1,126 billion. Regarding progress, the project has been granted Construction Permit No. 14/GPXD-SXD, dated August 19, 2022 for the foundation, basement and body of Area A - tourist apartments combined with commercial services. As of November 2022, the Department of Construction said that the investor is constructing the foundation and basement.

In May 2023, the People's Committee of Binh Dinh province sent a document requesting the Ministry of Construction to consider supporting and removing obstacles in investing in the construction of high-rise buildings with basements in the province (including the Cadia Quy Nhon Project).

As of October 2023, Ngo May Real Estate Investment Joint Stock Company is carrying out the procedures for approving fire prevention and fighting designs at the Fire Prevention and Fighting Police Department.

Project 2 adjustments

On July 14, 2024, the People's Committee of Binh Dinh province decided to adjust the investment policy of the SALA Hotel Project at 124 Phan Chu Trinh Street, Le Loi Ward, Quy Nhon City, invested by Binh Dinh Tourism Joint Stock Company.

Perspective of Sala Hotel Project. Source: IPC Binh Dinh.

Accordingly, the project adjusted the construction scale of the 4-star luxury hotel with a capacity of 150 rooms down to 118 rooms.

Previously, on April 26, 2024, the SALA Hotel Project was also adjusted in principle by the People's Committee of Binh Dinh Province. Accordingly, the project's completion schedule was adjusted, initially put into operation from the third quarter of 2021 to the third quarter of 2023, and adjusted to the second quarter of 2025.

Binh Dinh Tourism Joint Stock Company was approved by the People's Committee of Binh Dinh province to invest in the SALA Hotel Project on August 19, 2021; total investment capital is 198 billion VND. The planned construction land area is 587.8 m2.

In addition to the SALA Hotel Project, Binh Dinh Tourism Joint Stock Company is also the investor of the Quy Nhon 2 Hotel Project at 109S Tran Hung Dao Street, Hai Cang Ward, Quy Nhon City. The project was approved in principle by the People's Committee of Binh Dinh Province on August 18, 2021, with an investment capital of VND 370 billion and an expected construction land area of ​​1,827.5 m2.

After that, the investment policy of this project was also adjusted by the People's Committee of Binh Dinh province on June 12, 2023 with 2 contents. Including, the project scale was increased from 240 rooms (hotel and apartment) to 277 rooms, the project operation time in the third quarter of 2023 was adjusted to the fourth quarter of 2025.

Source: https://baodautu.vn/batdongsan/binh-dinh-gia-han-thoi-gian-hoan-thanh-du-an-khach-san-can-ho-nghin-ty-d220430.html