Taipei Hotel Construction Project: Why Recall?

The Taipei Hotel construction investment project was granted an investment certificate in 2009 and was allocated land by the State in 2015. However, after 15 years of being granted an investment certificate and 9 years of being allocated land, the investor did not implement the construction according to the committed plan. Therefore, recently, the Provincial People's Committee issued a decision to reclaim the land area assigned to the investor and hand it over to Thai Nguyen City for management according to the planning. Thereby, demonstrating the province's determination in handling projects that violate the...

Thai Nguyen City authorities protect land recovery for Taipei Hotel construction investment project.

The Taipei Hotel construction investment project is implemented at Group 25, Phan Dinh Phung Ward, Thai Nguyen City, invested by Taipei TNKS Investment Joint Stock Company, with a total capital of nearly 255 billion VND, on a land area of ​​8,288m2. The project has been implemented since the first quarter of 2010, and is expected to be completed and put into use in the fourth quarter of 2011.

By 2020, Taipei TNKS Investment Joint Stock Company requested to adjust the "Taipei Hotel Construction Investment Project" to "Taipei Residential Area Project", with the content of building houses for sale or rent, with a height of no more than 5 floors, construction density of about 60%, traffic land 35%, green land 5%; the area was adjusted from 8,288m2 to 10,004m2; the total investment capital was 150 billion VND. The progress after adjustment was completed is 24 months, from the date of issuance of the decision to adjust the investment project policy. The investor also committed that, after being granted the decision to adjust the project, it would carry out the procedures to adjust the planning and land use purpose; prepare technical design documents for construction, submit to the competent authority for approval; carry out construction; prepare the project settlement documents for completion and send to the Department of Finance for appraisal; fulfill financial obligations to the State.

Despite such commitment, the "Taipei Hotel Construction Investment Project" previously and now called "Taipei Housing Project" is still a vacant land. The investor did not implement the project, so the Provincial People's Committee requested the competent authorities to conduct an inspection and pointed out many shortcomings, such as: Slow progress, not put into use for more than 5 years compared to the investment certificate; slow compared to the time of land handover in the field; the investor has not prepared a dossier to declare and settle land rent according to regulations. The cause of the above incident is assessed as the investor's weak financial capacity, unable to implement the project.

In 2023, based on the inspection results, the Department of Natural Resources and Environment proposed the Provincial People's Committee to reclaim the land area assigned to the investor. By February 2024, the Provincial People's Committee had decided to reclaim 8,288m2 of the Project's land and hand it over to Thai Nguyen City for management according to the planning. The reason for the revocation was that the investor did not put the land into use to implement the Project continuously for 12 months from the date of land handover in the field and did not complete the procedures to extend the Project implementation progress according to regulations.

Mr. Ma Van Nguyen, a resident of Phan Dinh Phung Ward (Thai Nguyen City) said: This project has been left unimplemented for too long, causing loss of urban beauty and wasting land resources. We, the people of Thai Nguyen Province and City, fully support the withdrawal of the Taipei Hotel construction investment project.

Mr. Tran Dinh Thin, Chairman of Phan Dinh Phung Ward People's Committee, said: Over the past years, at meetings with voters, people have petitioned the relevant agencies to urge the implementation of the Taipei Hotel construction investment project or to revoke it if the project is not feasible. Implementing the province's decision, Phan Dinh Phung Ward has recently coordinated with specialized departments and offices of Thai Nguyen City to protect and revoke over 8,288m2 of this project. The locality hopes that in the coming time, the city will attract potential investors to implement new projects, contributing to the construction of more and more spacious streets and wards.

This valuable land continues to be carried out by the authorities of Thai Nguyen City to attract investment in accordance with the provisions of law.

After this project was revoked by the competent authority, Thai Nguyen City continued to implement steps to auction land use rights to attract businesses and investors to implement other projects, in order to avoid wasting land resources.

In addition to the above project, currently, the authorities of Thai Nguyen province are strengthening inspections and resolutely revoking projects that violate regulations and are behind schedule to improve management efficiency and promote land resources. This work has received the approval of officials, party members and people in the province.

Source: https://baothainguyen.vn/thoi-su-thai-nguyen/202407/du-an-xay-dung-dai-bac-hotel-vi-sao-phai-thu-hoi-f2f109c/