The Bac Cuong Apartment Project has been granted permission to sell 112 apartments.

Da Nang : Bac Cuong Apartment Project authorized to sell 112 apartments.

The Bac Cuong Apartment Project (commercial name Danang Gold Tower), invested by Cuong Thinh Phat Land Joint Stock Company, is eligible to sell 112 commercial residential apartments under construction.

The Bac Cuong Apartment project is currently under construction (foundation and basement).

The Da Nang City Department of Construction has just issued a notice regarding future housing units that are eligible for sale at the Bac Cuong Tower Apartment Project of Cuong Thinh Phat Land Joint Stock Company.

The Department of Construction stated that, according to documents provided by the investor, 112 commercial apartment units under construction at the Bac Cuong Apartment Project are eligible for sale in accordance with Clause 1, Article 55 of the Law on Real Estate Business and Point b, Clause 2, Article 19 of Government Decree No. 99/2015/ND-CP.

However, the Department of Construction also mentioned that if, after the Department issues the above notification, the investor does not sell the houses but instead mortgages them, the sale of these houses after mortgaging can only be carried out when all conditions are met and there is a notification from the Department of Construction as prescribed.

In addition, the Department of Construction also requested Cuong Thinh Phat Land Joint Stock Company to mobilize capital and use the mobilized capital for the intended purpose of housing construction; before selling houses under construction, the investor must obtain a guarantee from a qualified commercial bank to cover the investor's financial obligations to customers in case the investor fails to deliver the houses according to the committed schedule.

"Real estate business must be conducted in accordance with the laws and regulations on housing and real estate business. The investor will be fully responsible before the law in case of violations in the investment, construction, and real estate business of the project," the Da Nang City Department of Construction requires.

According to the legal documents provided by the investor, the project received approval for investment policy and investor approval from the Da Nang City People's Committee on September 30, 2022; and the Hai Chau District People's Committee approved the detailed planning at a scale of 1/500 for the mixed-use apartment and office building on plot number 248, map sheet number 15, Hoa Cuong Nam ward on December 23, 2022.

The Department of Construction announced the results of the appraisal of the feasibility study report for the construction investment on May 4, 2023, and issued the construction permit on July 25, 2023…

According to the investment policy decision, the project's designed capacity is 112 apartments, comprising 2 basement floors, 20 above-ground floors, and a technical penthouse on a land area of ​​1,709.7 m2. The total investment capital for the project is 510.7 billion VND.

The Bac Cuong Apartment Project is being built at 40A Xo Viet Nghe Tinh Street, Hoa Cuong Nam Ward, Hai Chau District. The project's operating period is 50 years from the date of approval of the investment policy. The project is expected to be completed and operational in the fourth quarter of 2024.

The Bac Cuong Apartment project, currently marketed as Danang Gold Tower, is distributed by Dat Xanh Mien Trung. On the project's website (https://dananggoldtower.com.vn/), apartments are available in 2-bedroom (76 m2) and 3-bedroom (112 m2) configurations. The project is advertised as being ready for handover in Q4 2024 with a selling price of 50 million VND/m2.

Source: https://baodautu.vn/batdongsan/da-nang-du-an-chung-cu-bac-cuong-duoc-phep-mo-ban-112-can-ho-d221388.html