Vingroup raises capital to develop housing in Da Nang

(NLDO) - The Lang Van Tourism and Urban Resort Complex project invested by Vingroup has just been confirmed to be eligible to mobilize capital.

The Department of Construction of Da Nang City has just announced that the Lang Van Tourism and Urban Resort Complex project invested by Vinpearl Joint Stock Company ( Vingroup Corporation) is eligible to mobilize capital for housing construction according to current regulations.

Accordingly, the project is located in Hai Van ward, Da Nang city, with a total land area of more than 500 hectares, of which residential land area accounts for more than 100 hectares.

The total investment of the entire project is nearly 44,000 billion VND, of which the investment in housing construction alone is about 19,823 billion VND, expected to be completed in the fourth quarter of 2029.

The Lang Van project implementation area is located at the foot of Hai Van pass, Hai Van ward, Da Nang city.

The Department of Construction said that, based on the Housing Law 2023 and related decrees, the Lang Van project is eligible to mobilize capital for housing development activities through forms of capital contribution, investment cooperation, business, joint ventures, and associations with organizations and individuals.

Mobilizing capital of 16,850 billion VND, ensuring 85% of housing investment capital

The maximum mobilized capital is 16,850 billion VND, equivalent to 85% of the total investment capital for housing construction, the mobilization period lasts until the end of the investment progress.

However, the Department of Construction also requires the investor Vinpearl to strictly comply with legal regulations on investment, land, housing, construction, fire prevention and fighting, environmental protection and fully perform responsibilities according to the provisions of the Law on Real Estate Business 2023.

The Department of Construction also emphasized the responsibility to publicize project information and report progress according to regulations and affirmed that the investor will be fully responsible before the law if there are any violations in investment activities, capital mobilization or real estate business at this project.

At the end of June, Vinpearl Joint Stock Company officially started the Lang Van Tourism and Urban Resort Complex project. The project is planned according to the international "resort city" model, low density of accommodation, fully integrating the functions of resort, accommodation, entertainment, commerce, healthcare and education .

Source: https://nld.com.vn/vingroup-duoc-huy-dong-hang-ngan-ti-phat-trien-nha-o-tai-da-nang-19625072712042846.htm