The "prime land" at 4 Tran Phu Street will be reclaimed if the project is not implemented promptly.

The nearly 13,500 square meter plot of land at 4 Tran Phu Street, May To Ward, Ngo Quyen District, Hai Phong City , was previously a port warehouse and residential area for several households. In March 2019, the Hai Phong City government made a partial adjustment to the land use plan, changing it from residential land to mixed-use residential and commercial/service land to facilitate the investor's project.

According to Nguoi Dua Tin's investigation, in November 2019, the People's Committee of Hai Phong City decided on the investment plan for a complex project including a hotel, shopping center, and office building with 72 floors on this land (known as the FLC Diamond 72 Tower), with a total investment of nearly 4,000 billion VND, with FLC Group as the investor. After the groundbreaking ceremony, FLC still did not carry out the necessary procedures such as: depositing investment funds, design appraisal, applying for construction permits, etc.

Real Estate - Hai Phong: 'Prime land' at 4 Tran Phu Street to be reclaimed if development is delayed. — The prime real estate plot at No. 4 Tran Phu Street, May To Ward, Ngo Quyen District, Hai Phong City.

In response to this situation, in November 2020, the Hai Phong City government issued a decision to terminate the investment policy decision for the FLC Diamond 72 Tower project. Subsequently, in June 2021, the land was put up for auction with a starting price of 739 billion VND. The winning bidder was An Phat Real Estate Management and Business Company Limited (An Phat Company), with a winning bid of over 1.3 trillion VND. An Phat Company planned to develop a high-rise mixed-use apartment complex with two apartment towers (35 and 40 stories high) and a commercial and service area (a commercial, service, hotel, and office tower).

In August 2021, due to An Phat Company's request to withdraw from the project, the People's Committee of Hai Phong City issued a decision to cancel the previous auction results. In December 2021, the Hai Phong City government held a re-auction for the land plot at 4 Tran Phu Street. HDMON Hai Phong Construction Investment Joint Stock Company won the auction with a winning bid of nearly 967 billion VND, with a land lease term of 50 years from the date of the decision recognizing the winning bid for land use rights.

According to our reporter's observations, after winning the auction, HDMON Hai Phong Construction Investment Joint Stock Company has left the project stalled, just like the two previous owners. The entire large plot of land right next to the central area of Hai Phong City is enclosed by corrugated iron fences, with weeds growing rampant inside.

Real estate - Hai Phong: 'Prime land' at 4 Tran Phu Street will be reclaimed if development is slow (Figure 2). — Weeds grow profusely inside plot number 4, Tran Phu Street, May To Ward, Ngo Quyen District, Hai Phong City.

Speaking to Nguoi Dua Tin (The Informer), Mr. Nguyen Quoc Minh, residing at 12 Tran Phu Street, May To Ward, Ngo Quyen District, Hai Phong City, said that residents in the area are deeply saddened by the situation of this "prime land" being left vacant for many years. Currently, the price of land along Tran Phu Street near the project area has reached 200-250 million VND/m2.

Local residents are hoping that the Hai Phong City government will soon revoke the project and hand it over to a capable unit, or rezone the land for residential use and then organize an auction for the land use rights. This would not only prevent the waste of land resources but also increase revenue for the budget.

In response to this situation, on June 14, 2023, the People's Committee of Hai Phong City issued Decision No. 1642 extending the land use rights for 24 months for HDMON Hai Phong Construction Investment Joint Stock Company at 4 Tran Phu Street. Along with the extension, the Hai Phong City authorities requested the company to promptly put the land into use.

Furthermore, the People's Committee of Hai Phong City has assigned the City's Department of Natural Resources and Environment to take the lead in coordinating and monitoring the implementation of the project by the enterprise. If, after the extension period, the investor fails to put the land into use (has not completed the construction of the project according to the approved plan), Hai Phong City will reclaim the land. In that case, HDMON Hai Phong Construction Investment Joint Stock Company will not be compensated according to regulations.

Tan Thang

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