New movement at the urban area project of nearly 100 hectares with 3 sides facing the sea

Da Nang : New movement in the urban area project of nearly 100 hectares with 3 sides facing the sea

Thuan Phuoc - Da Nang New Urban Area Project has an area of over 97 hectares, with a total investment of nearly 11,500 billion VND and is carrying out environmental procedures.

Project from 1,500 billion VND to nearly 11,500 billion VND

Thuan Phuoc Bay Urban Investment Joint Stock Company has just released an environmental impact assessment (EIA) report of the Thuan Phuoc - Da Nang New Urban Area Project on the environmental consultation portal of the Ministry of Natural Resources and Environment .

The project is implemented in Nai Hien Dong ward and Tho Quang ward, Son Tra district, Da Nang city.

Thuan Phuoc New Urban Area Project – Da Nang is known as Kim Long Ocean Thuan Phuoc (promoted and introduced since 2018).

According to the announced information, Thuan Phuoc Bay Urban Investment Joint Stock Company was approved as the investor to implement the Thuan Phuoc - Da Nang New Urban Area Infrastructure Construction Investment Project in Decision No. 2026, dated June 10, 2021 of the People's Committee of Da Nang City.

Accordingly, the total investment capital of the project is over 1,507 billion VND. The project implementation progress is within 48 months, expected to be completed by June 2025; the project operation period is 50 years.

In the total area of 97.6 hectares, the area for construction of townhouses and commercial townhouses is more than 20.5 hectares (Block B2) with 1,480 adjacent plots of land; the land for construction of villas is more than 24.7 hectares (Block B3) with 678 villa plots of land.

In this document, the People's Committee of Da Nang City requires the investor to only implement the project after completing the construction of the surrounding embankment and after contributing capital with land use rights to unify the owners.

On December 29, 2023, the People's Committee of Da Nang City issued Decision No. 2953 approving the adjustment of the investment policy and approving the investor (for the first time) with 4 adjusted contents.

First, the Project was renamed Thuan Phuoc – Da Nang New Urban Area Project.

Next, the project scale was adjusted to include the addition of a climate change embankment line with a length of more than 1.9 km.

The total area of the project was increased by 58 m2 (from 976,533 m2 to 976,475 m2). The adjusted products of the project include land for townhouses with an area of over 29.3 hectares with 1,880 units; land for villas with an area of 5 hectares with 212 units; apartments with an area of 3.3 hectares including 6 plots of land; high-rise commercial service buildings, hotels with an area of over 3.8 hectares with 6 plots of land.

In addition, the project adds items such as social infrastructure including schools, border guards, medical stations, cultural and sports centers, community centers, multi-storey parking lots with an area of over 5 hectares; and a theme park with an area of 16.5 hectares.

At this time, the Project increased its total investment capital to more than 11,493 billion VND (an increase of more than 9,985 billion VND). Of which, the investor's capital is 1,800 billion VND and the rest is capital mobilized from credit institutions.

The project progress has also been adjusted, including phase 1 including legal procedures until the fourth quarter of 2024, completing the climate change response embankment by the fourth quarter of 2026; phase 2 including technical infrastructure in the fourth quarter of 2028, social infrastructure in the third quarter of 20230, villas, townhouses, theme parks, high-rise buildings, commercial service buildings, hotels by the fourth quarter of 2030.

In 2024, the project was approved by the People's Committee of Son Tra district to adjust the detailed planning 1/500 on March 6 with a total area of more than 97.6 hectares.

Regarding this project, the Department of Natural Resources and Environment of Da Nang City said that according to Decision No. 2953, Thuan Phuoc Bay Urban Investment Joint Stock Company is in the process of completing legal procedures for the project to start construction in the fourth quarter of 2024 according to the adjusted investment schedule.

Information board at the investor's project.

Meanwhile, according to the investor, the entire land area of the Project is being updated and added to the 2024 land use plan of Son Tra district.

"The company is continuing to complete procedures for converting land use purposes according to regulations to ensure completion before putting the project into operation," the investor stated in the EIA report.

The investor behind the project

Although the project was officially approved in principle in 2021, Thuan Phuoc Bay Urban Investment Joint Stock Company was mentioned as the project implementation unit since 2010 in many documents issued by Da Nang City.

Specifically, the Urban, Commercial and Tourism Area Project in the North of Man Quang Bay (area of 92.6 ha) has been approved by Da Nang City for the detailed construction master plan of 1/500 in Decision No. 3302, dated April 28, 2010. This document mentions that Thuan Phuoc Bay Urban Investment Joint Stock Company is responsible for implementing the next basic construction steps.

Next, on June 9, 2017, the People's Committee of Da Nang City issued Decision No. 3133 approving the adjusted master plan of the 1/500 detailed construction planning of Thuan Phuoc New Urban Area. The basis of the decision mentioned the submission of Thuan Phuoc Bay Urban Investment Joint Stock Company.

The adjusted content changes the project name from the Urban, Commercial and Tourism Area Project North of Man Quang Bay to the Thuan Phuoc - Da Nang New Urban Area Project, with a total area of more than 97.6 hectares.

According to the investor, the entire land use area of the project (97.6475 ha) has been granted a Land Use Right Certificate (LURC) by the People's Committee of Da Nang City to Thuan Phuoc Bay Urban Investment Joint Stock Company for a term of 50 years. Including 8 LURCs for the purpose of using land for non-agricultural production and business; 1 LURC for the purpose of land for production and business facilities; 1 LURC for the purpose of land for urban construction. Of which, the first LURC was granted on February 10, 2010.

The current status inside the project is a small trail, surrounded by overgrown grass.

Thuan Phuoc Bay Urban Investment Joint Stock Company was first granted a business registration certificate by the Department of Planning and Investment of Da Nang City on November 10, 2009, and the 22nd change on September 20, 2022. Head office on the 2nd floor, Da Nang Plaza Building, No. 16, Tran Phu Street, Thach Thang Ward, Hai Chau District, Da Nang City. The company has a charter capital of VND 1,800 billion, with Mr. Truong Dinh Trung as General Director.

Mr. Truong Dinh Trung is currently the Chairman of the Board of Directors of Kim Long Nam Joint Stock Company. The tax registration address of Kim Long Nam Joint Stock Company is also the same as the registration address of Thuan Phuoc Bay Urban Investment Joint Stock Company.

According to the reporter of the Investment Electronic Newspaper at the project site, the entrance gate introduces the Kim Long Ocean Thuan Phuoc Project invested by Kim Long Nam Group. In addition, Thuan Phuoc Bay Urban Investment Joint Stock Company also has a notice board announcing the project is preparing to be implemented.

The land is still vacant, overgrown with grass and has no complete traffic system.

According to the investor, the three difficulties of the project include that most of the project area comes from reclaimed land (large investment for leveling); the project is surrounded by three deep water surfaces (the water surface in the bay area is facing pollution problems); the location is in the estuary and sea estuary area (coping with climate change, natural disasters and rising sea levels).

Source: https://baodautu.vn/batdongsan/da-nang-chuyen-dong-moi-tai-du-an-khu-do-thi-gan-100-ha-co-3-mat-giap-bien-d226404.html