Approval of tourism project worth over 267 billion VND in Luong Quan Alluvial Area in Hue

Hue City Department of Finance said that Hue City People's Committee has just decided to approve the investment policy of the DDV Tourism Service Area project at Luong Quan Alluvial Area, Thuy Xuan Ward, Hue City.

The project selects investors through bidding, in compliance with the provisions of law on bidding to select investors.

According to the approval decision, the project's objective is to concretize and gradually complete the Zoning Planning Project (scale 1/2000) of Thuy Xuan area; contribute to completing the urban landscape of Thuy Xuan ward and forming a modern eco- tourism and resort experience area in the center of Hue city.

This is considered a new highlight in exploiting eco-tourism on both sides of the Huong River, contributing to the effective use of land funds, creating jobs for people and increasing local budget revenue.

In addition, the project is also an important legal basis for management, investment attraction, promoting socio-economic development and shifting the local economic structure towards services and tourism.

Luong Quan area, Thuy Xuan ward, Hue City.

Investment items include: hotel system, resort villas, bungalow area, and auxiliary works such as parking lot, reception hall, coffee area, restaurant, spa and other ecological experience services.

The main products and services of the project are accommodation - resort complex and eco-tourism experience, meeting the accommodation, entertainment and relaxation needs of tourists when coming to Hue.

The total investment capital of the project is about 267.8 billion VND (excluding land rent), of which the cost of project implementation is estimated at 242.4 billion VND and the cost of compensation, support and resettlement is about 25.4 billion VND. The project duration is 50 years, calculated from the date of the decision on land allocation, land lease or permission to change land use purpose.

Regarding the implementation progress, according to the Hue City Department of Finance, the progress of capital contribution and capital mobilization will be implemented after the results of investor selection approval are available. Investors must ensure financial capacity with a minimum equity capital of VND 53.56 billion (20% of total investment capital); the remaining part, about VND 214.2 billion (80%), will be mobilized from credit institutions and other legal capital sources.

Project implementation time shall not exceed 48 months from the date of land allocation, land lease or change of land use purpose; in which, construction must commence within 12 months from the date of land allocation or lease.

Source: https://baodautu.vn/chap-thuan-du-an-du-lich-hon-267-ty-dong-khu-bai-boi-luong-quan-tai-hue-d417360.html