Urban area worth over 3,200 billion VND in Me Linh continues to look for investors

Currently, only one enterprise meets the preliminary requirements to implement the Me Linh new urban area project. Therefore, the Hanoi Department of Planning and Investment has extended the registration period to continue looking for more investors.

Recently, the Hanoi Department of Planning and Investment has extended the registration for the Me Linh new urban area project in Me Linh and Van Khe communes, Me Linh district until 5:00 p.m. on November 20. The reason is that currently there is only one investor, Taseco Real Estate Investment Joint Stock Company, that meets the preliminary requirements on capacity and experience when the registration deadline expires on August 31.

The Me Linh new urban area project has a population of about 5,060 people. The total land use area is about 40.6 hectares. Of which, low-rise residential land is about 10.556 hectares, equivalent to about 657 apartments. Social housing land is about 3.52 hectares, expected to provide about 809 apartments...

The total cost of implementing the project (excluding compensation, site clearance support and resettlement costs) is approximately VND 2,905 billion. The estimated cost of implementing compensation, site clearance support and resettlement is approximately VND 303 billion.

The investment project's duration is 50 years, starting from the date the State decides to allocate land, lease land, or change land use purpose to the investor. The project implementation progress is from 2024 to 2028.

Real estate projects are contributing to changing the face of Me Linh district. Photo: HUD Me Linh

With the advantage of being adjacent to Noi Bai airport and having Ring Road 4 passing through, Me Linh district is becoming the destination of a series of large real estate projects. Some names that can be mentioned are Cienco 5 Me Linh, Diamond Park, HUD Me Linh, Ceo Me Linh, Tien Phong Me Linh urban area, Ha Phong urban area...

Taseco Land – the unit aiming to be the investor of the project – was established in 2009 and was formerly An Binh Real Estate Investment Joint Stock Company. This enterprise used to be the investor of apartment projects in the Diplomatic Corps area (Hanoi), along with many urban villa and shophouse projects such as Green Park Mong Cai (Quang Ninh), Green Park Hai Ha (Thanh Hoa)…

At the general meeting of shareholders held at the beginning of the year, Taseco Land's board of directors said that the company will continue to seek good investment opportunities, research and develop land fund expansion and project fund expansion in many potential localities in Hanoi, Hai Phong, Thai Nguyen, Bac Ninh, Bac Giang, Hung Yen, etc.

This year, the company will continue to focus on implementing key projects in 2024, including project No. 4 - new urban area in the center of Thanh Hoa City; building NO1-T6 of project NO1-T6, T7 of the Diplomatic Corps (Hanoi); mixed-use commercial service building and Alacarte apartment building (Quang Ninh).

In 2024, Taseco Land aims to achieve consolidated revenue of VND3,040 billion and after-tax profit of VND475 billion. However, after the first 6 months of the year, the company has only achieved about 30% of the revenue plan and less than 5% of the profit target.

Source: https://baodautu.vn/batdongsan/khu-do-thi-hon-3200-ty-dong-o-me-linh-tiep-tuc-tim-chu-dau-tu-d229118.html