Transfer of part of the New Urban Area Construction Project in Dong Anh District

Kinhtedothi - Hanoi People's Committee has issued a Decision allowing Vietnam Exhibition Fair Center Joint Stock Company to transfer part of the New Urban Area Construction Project in Xuan Canh, Dong Hoi, Mai Lam communes (Dong Anh district) to T&T New Era Joint Stock Company.

Accordingly, the City People's Committee approved the transfer of part of the real estate project to T&T New Era Joint Stock Company to Vietnam Exhibition Fair Center Joint Stock Company (investor).

The new urban area construction investment project is implemented in Xuan Canh, Dong Hoi, Mai Lam communes, Dong Anh district, Hanoi city.

The project investment scale has a total land use area of ​​261.46 hectares, the project is expected to serve about 37,300 people, with a total investment capital of up to 34,879 billion VND. The project is expected to be completed in the third quarter of 2025.

Vietnam Exhibition Fair Center Joint Stock Company will transfer a part of the project including: Land for construction of high-rise housing, low-rise housing, mixed-use buildings and public land for business purposes, with a total area of ​​up to 750,000 m2, of which 427,078.5 m2 is residential land and 323,318.3 m2 is public land to T&T New Era Joint Stock Company.

The investment scale of the above-mentioned transferred project is part of the overall New Urban Area Construction Investment Project in Xuan Canh, Dong Hoi, Mai Lam communes, Dong Anh district, Hanoi City, which has been approved by the City People's Committee in Decision No. 2729/QD-UBND dated June 26, 2020. With a total investment of the transferred part of about 30,360.5 billion VND.

Current status of the transferred project: Site clearance has been completed and construction is underway according to the approved investment project.

Reason for transfer: Implementing the Contract in principle of transferring part of the project No. 2111/HĐNTCNDA-VEFAC-T&T dated November 21, 2024 between Vietnam Exhibition Fair Center Joint Stock Company and T&T New Era Joint Stock Company

Responsibilities of the transferor and transferee: within 60 days from the approval decision, the parties must sign the transfer contract and complete the handover of the project part as prescribed. In case the cooperation units (units that have been mobilized capital by the investor through the form of business cooperation as prescribed), customers or related parties have opinions about their rights related to the project, the transferred project part, Vietnam Exhibition Fair Center Joint Stock Company is responsible for resolving in accordance with the provisions of law before signing the contract to transfer part of the project. After the above deadline, if the parties do not complete the provisions in this clause and the competent authority does not issue a decision allowing the transfer of the project part to extend the implementation period, this decision will expire.

Vietnam Exhibition Fair Center Joint Stock Company (the transferor) is responsible before the law for the legality, accuracy, and honesty of the content reported in the documents and records transferring a part of the project. Transfer its rights and obligations regarding the transferred part of the project to T&T New Era Joint Stock Company to continue investing in construction and business according to the project content approved by the City People's Committee and the provisions of law...

For T&T New Era Joint Stock Company (the transferee), it is responsible before the law for the legality, accuracy and honesty of the content of the reports in the documents and records of receiving the transfer of a part of the project. Inherit and exercise the rights and obligations for the part of the project transferred from Vietnam Exhibition Fair Center Joint Stock Company according to the provisions of law. Continue to implement investment, construction and business for the part of the project transferred according to the schedule, planning and approved content of the project, ensuring that the objectives and content of the project approved by the City People's Committee and the rights of customers and related parties according to the provisions of law...

Source: https://kinhtedothi.vn/chuyen-nhuong-mot-phan-du-an-xay-dung-khu-do-thi-moi-tai-huyen-dong-anh.html