Overview of the 1,700 billion VND real estate project turned into a goat herding place in Kon Tum

The FLC Group Joint Stock Company (FLC Group) Commercial, Entertainment and Townhouse Complex Project in Kon Tum City (Kon Tum Province) has an investment capital of 1,700 billion VND. A series of villas and townhouses worth hundreds of billions of VND in this project are abandoned because the project will cease operations.

Overview of the 1,700 billion VND real estate project turned into a goat herding place in Kon Tum

Thursday, December 5, 2024 14:43 PM (GMT+7)

The FLC Group Joint Stock Company (FLC Group) Commercial, Entertainment and Townhouse Complex Project in Kon Tum City (Kon Tum Province) has an investment capital of 1,700 billion VND. A series of villas and townhouses worth hundreds of billions of VND in this project are abandoned because the project will cease operations.

On December 4, a source from Dan Viet reporter said that the Department of Planning and Investment of Kon Tum province has announced the termination of the FLC Group's Commercial Complex, Entertainment Services and Townhouses Project. The reason why FLC Group decided to terminate the project was due to "many different objective and subjective reasons that led to the investor not completing the construction goals".

The project has a total investment of 1,700 billion VND, started in 2019, and is expected to be operational in 2020. Currently, only some items such as gates and houses have been completed.

Some houses have been painted but doors have not been installed.

Some housing projects leave exposed brickwork.

The project has invested in electricity, roads and trees.

The project still has security guards. Through investigation, the security guards were hired by a bank to guard the project.

In the campus, many buildings are still under construction.

Most of the land is vacant and overgrown with grass.

The project is becoming a place for people to raise goats.

Van Tung

Source: https://danviet.vn/toan-canh-du-an-bat-dong-san-tri-gia-1700-ty-dong-thanh-noi-chan-de-o-kon-tum-20241204214021463.htm