Vinhomes joint venture's $3.5 billion project in Khanh Hoa mobilizes capital

(Dan Tri) - Vinhomes joint venture mobilized capital through investment and business cooperation for the Cam Ranh Bay Urban Area project.

Khanh Hoa Province Department of Construction recently sent a document to Cam Ranh Investment Joint Stock Company announcing that it is eligible to mobilize capital through investment and business cooperation at the Cam Ranh Bay Urban Area project.

The announcement clearly stated that the capital mobilization through capital contribution, investment cooperation, and business cooperation is in accordance with the provisions of the Housing Law 2023. The capital mobilization level is nearly 14,768 billion VND. The capital mobilization period is according to the project implementation progress from the second quarter of 2023 to the first quarter of 2027.

Parties participating in capital contribution, investment cooperation, and business cooperation may only distribute profits in cash or shares based on the capital contribution ratio agreed upon in the contract as prescribed in the Housing Law 2023.

Perspective of Area 1 of Cam Ranh Bay Urban Area project (Photo: Khanh Hoa Newspaper).

The document clearly states that the consortium of investors is not allowed to use the mobilized capital for other projects or other purposes. In case the investor misuses the mobilized capital or misappropriates the mobilized capital, it must return the amount mobilized in violation of regulations, compensate (if causing damage) and be administratively sanctioned according to the provisions of law or prosecuted for criminal liability.

The Cam Ranh Bay Urban Area is implemented on a total area of ​​1,254 hectares, located in the wards of Cam Loi, Ba Ngoi, Cam Thuan, Cam Nghia, Cam Phuc Nam, Cam Phu, Cam Linh, Cam Phuc Bac and the communes of Cam Thinh Dong and Cam Lap (Cam Ranh City).

The investor is a consortium of Cam Ranh Investment Joint Stock Company (representative) - Vinhomes Joint Stock Company - VinES Energy Solutions Joint Stock Company.

In terms of scale, the project includes nearly 8,500 townhouses, more than 10,000 villas and nearly 20,000 social housing units (18,450 apartments and nearly 1,400 townhouses). The total preliminary cost of implementing this project is VND85,294 billion (equivalent to about more than USD3.5 billion). The cost of compensation and resettlement support is more than VND997 billion.

In Long An, Vingroup has just started construction of the Vinhomes Green City urban complex on an area of ​​over 197 hectares in Duc Hoa district.

Source: https://dantri.com.vn/bat-dong-san/du-an-35-ty-usd-cua-lien-danh-vinhomes-tai-khanh-hoa-duoc-huy-dong-von-20250326163037053.htm