The 20 trillion VND FLC Quang Binh project lies in ruins.

The FLC Quang Binh project occupies nearly 2,000 hectares of coastal forest land in Quang Binh province, stretching 5 km along the coastline of Hai Ninh commune (Quang Ninh district) and Hong Thuy commune (Le Thuy district). The project is expected to transform the area into an international-standard entertainment center and the largest real estate project in Central Vietnam.

A series of abandoned villas and mansions.

The FLC Quang Binh project, invested by FLC Group with a total investment of up to 20,000 billion VND, commenced construction in 2016. The project is planned into three functional zones: SeaHorse, Sea Pearl, and SeaStar; with a series of amenities including: a 6-star hotel and villa complex, shophouses, mini-hotels, a film studio; a comprehensive golf course complex, an international convention center, a series of coastal entertainment and recreation areas... along with a modern, world-class system of facilities.

Since March 2016, FLC Quang Binh has been extensively implementing infrastructure construction for the hotel, resort, and integrated golf course project, the largest in Southeast Asia, in phase 1 on a 2,000-hectare plot of land...

In phase 2, FLC Quang Binh has basically completed the infrastructure and begun construction of housing, villas, and an international convention center. Of particular note is the upscale 6-star villa and resort complex; which was once advertised for sale at $1 million USD for a luxury beachfront apartment.

Hàng loạt công trình biệt thự, villa của dự án FLC Quảng Bình xây dựng dở dang — A series of villas and mansions in the FLC Quang Binh project are left unfinished.

Former FLC chairman Trinh Van Quyet once affirmed that, upon completion, the entire project would become a self-contained, state-of-the-art coastal resort and urban complex. It would be a highlight of the Central Vietnam natural landscape, a rarity among similar projects.

However, after nearly 8 years of implementation, the FLC Quang Binh project has only put into operation two 36-hole interconnected golf courses and completed some model villas along the coast. The rest is a scene of desolation and ruin, with many unfinished construction items and vast empty plots of land, leaving anyone who witnesses it feeling regretful and saddened.

Inside the subdivisions lies a massive, abandoned construction site, with countless buildings including townhouses, villas, hotels, and shopping centers... only partially completed, with bare concrete blocks. Some other structures have only had their foundations built and have been left unfinished, their steel structures rusting and deteriorating over time. The area surrounding the project is desolate and neglected, covered in moss and weeds.

Mr. Le Van Minh (from Hai Ninh commune, Quang Ninh district - whose house is next to the FLC project) expressed regret at witnessing the sight of numerous villas and construction projects lying abandoned, overgrown with weeds. According to Mr. Minh, construction within the FLC project completely stopped around the end of 2022. Since then, he has no longer seen workers, machinery, or vehicles operating, leaving the area eerily quiet.

The fate of the mega-project hangs in the balance.

According to our investigation, after FLC chairman Trinh Van Quyet was prosecuted and arrested by the Ministry of Public Security for violations, all construction activities at the FLC Quang Binh project had to be temporarily halted, effectively ending in a "premature death." Only the golf course remains operational and welcomes guests. As for the construction site itself, no one knows when work will resume.

Speaking with a reporter from Nguoi Lao Dong newspaper, Mr. Pham Minh Huan, Chairman of the People's Committee of Hong Thuy commune, said that according to data, the FLC Quang Binh project will reclaim nearly 400 hectares of land in the locality, while the remaining 1,600 hectares belong to Hai Ninh commune. Of this, some smaller projects have already completed land reclamation and clearance; some land remains in its original state because it was halted before it could be implemented.

Meanwhile, Mr. Bui Van Kham, Head of the Economic and Infrastructure Department of the Quang Ninh District People's Committee, affirmed that the FLC Quang Binh project has completely halted all construction activities within the project area in Hai Ninh commune for nearly two years. This halt has resulted in numerous unfinished and dilapidated structures.

According to the Quang Binh Provincial Tax Department, in the list of 42 publicly disclosed tax-owing entities, FLC Group tops the list with over 277 billion VND in outstanding taxes. In addition, FLC Faros Construction Joint Stock Company – a business within the FLC ecosystem – also owes over 11.5 billion VND in taxes.

Mr. Ngo Van Thuan, Deputy Director of the Quang Binh Provincial Tax Department, said that for the time being, the units on the list of tax debtors, including FLC, have had their invoices enforced by the Provincial Tax Department for a period of one year. After one year, if the tax payment is still not completed, the enforcement measures will be extended. In addition, the Provincial Tax Department also issues monthly notices of tax debt and late payment penalties to FLC Group.

FLC Quang Binh has come under scrutiny from the Ministry of Public Security.

Recently, the Investigation Department of the Ministry of Public Security sent a document to the Chairman of the People's Committee of Quang Binh province requesting that relevant agencies be directed to provide documents and records related to FLC's projects in the locality. These include documents and records concerning projects invested in by FLC Group Joint Stock Company, FLC Faros Construction Joint Stock Company, and FLC Biscom Yacht and Golf Course Investment Joint Stock Company in Quang Binh province.

Projects under scrutiny include: FLC Quang Binh Hotel, Resort and Villa Convention Center; wildlife park; FLC Quang Binh Golf Links golf course; FLC adventure sports park; Hai Ninh high-end ecological and resort villa area...