Vingroup wins bid for 41,000 billion VND urban area project in Bac Ninh

Vingroup's consortium has just been approved as the investor of the new urban area in the Northwest of Bac Ninh City (area 1) with a total capital of about 41,270 billion VND.

The People's Committee of Bac Ninh province has just issued a decision approving the results of selecting investors to implement the new urban area project in the Northwest of Bac Ninh city (Area 1).

According to the decision, the winning investor is the consortium of Vingroup Corporation - Thanh Binh Trade Development Investment Consulting Company Limited - New Life Real Estate Investment and Development Company Limited - Phu Tho Land Joint Stock Company.

The project is located in Hoa Long Ward, Bac Ninh City, with a total estimated investment of over VND 41,270 billion. The project's operating period is 50 years. The urban area has a population of about 33,000 people.

The investment preparation and project implementation progress is 7 years from the date of selecting the investor. In which, the investment preparation stage is one year from the date of selecting the investor to prepare, appraise and approve the detailed planning 1/500, prepare and approve the feasibility study report; the project implementation stage is 6 years from the date the investor is handed over the land.

An area in Bac Ninh province (Illustration: Tran Khang).

The project has a land use scale of about 277 hectares, of which the expected land use demand includes 60.5 hectares of residential land; 98.9 hectares of social infrastructure land; 11.5 hectares of green land; 69.7 hectares of traffic land...

According to the zoning plan, the project has allocated 9.5 hectares for the construction of social housing projects (equivalent to 16.2% of the total land fund for housing and mixed-use projects in the project). Therefore, the selected investor is responsible for paying the corresponding value of the land fund invested in building the technical infrastructure system to build social housing, equivalent to a land fund with an area of ​​about 22,300m2.

Regarding the investor consortium, according to the consolidated financial report for the first quarter, Vingroup Corporation had a total consolidated net revenue of VND 84,053 billion, an increase of 287% over the same period in 2024. Consolidated profit after tax reached VND 2,243 billion, an increase of 68% over the same period last year.

Source: https://dantri.com.vn/bat-dong-san/vingroup-trung-thau-du-an-khu-do-thi-41000-ty-dong-o-bac-ninh-20250517024410046.htm