Close-up of 3 'super projects' on prime land in Da Nang abandoned for 15 years

"Super projects" holding prime land in the center of Da Nang .

The Department of Planning and Investment of Da Nang has just announced a plan to handle 3 "super projects" located in the city center, which have been assigned to investors for many years but have not been implemented, including Da Nang Center, Vien Dong Meridian and Golden Square.

Specifically, the first project is the Golden Square high-end commercial complex, hotel office, high-end apartment of Dong A Real Estate Joint Stock Company with an area of ​​10,664.0m2 located at the 4 frontages of Pham Hong Thai - Nguyen Chi Thanh - Nguyen Thai Hoc - Yen Bai, which was granted an investment certificate by the People's Committee of Da Nang City in 2008. The scale of the project will be to invest in the construction and business of a 36-storey high-end apartment complex, a 21-storey high-end commercial center, conference center and office for rent, and a 27-storey high-class 3-4 star hotel. After the grand opening ceremony, the project has just completed the surrounding wall, 2 basements and 4 upper floors.

The project was licensed from February 2008 to February 2011, with the implementation progress extended to October 31, 2018, and then the People's Committee of Da Nang City continued to extend the land use period by 24 months. On June 14, 2019, Dong A Real Estate Joint Stock Company issued an official dispatch requesting the transfer of the entire project "Golden Square Trade Center, Hotel and Apartment Complex". After that, Da Nang had a policy to allow Dong A Real Estate Joint Stock Company to terminate the project, transfer land and assets on the land to a new investor according to regulations to continue implementing the project. In 2021, Dong A Real Estate Joint Stock Company approved the transfer plan to auction assets including land use rights and assets on the land. However, the auction could not be carried out due to some legal procedures.

Therefore, on March 17, the Department of Planning and Investment of Da Nang City announced the termination of the project. The handling of land use rights and assets attached to the land after the termination of the investment project shall be carried out in accordance with the provisions of the law on land and other regulations. In case after 24 months from the date of termination of the investment project, the investor fails to sell its legal assets attached to the land to another investor, the State shall reclaim the land in accordance with the regulations.

Opposite the Golden Square Project is the Trade Center, Office, Hotel, Luxury Apartment Project - Vien Dong Meridian, No. 84 Hung Vuong of Vien Dong Vietnam Real Estate Joint Stock Company, which was granted an investment certificate by the People's Committee of Da Nang City on May 6, 2007. The project is scheduled to be implemented within 36 months, expected to start construction in May 2008 and officially come into operation in the second quarter of 2011. However, the project is currently an empty lot, overgrown with grass and reeds. In 2020, the project was transferred to Kinh Bac Da Nang One Member Co., Ltd. To date, the company has not been able to prove its right to use residential land or its right to use residential land and other non-residential land that meets the conditions for permission to change land use purposes to implement the investment project.

Therefore, the Department of Planning and Investment of Da Nang City has proposed that the City People's Committee assign the Department of Construction to contact Kinh Bac Da Nang Investment Company Limited to adjust the planning of Area D - luxury apartments including 30 floors above ground to suit the purpose of using land as commercial service land to implement the project investment and construction. At the same time, it is recommended that the Da Nang City People's Committee assign the Department of Natural Resources and Environment to inspect the progress of putting the land into use to have measures to handle the act of delaying putting the land into use according to regulations.

The third "super project" is the Danang Center Project with an area of ​​7,878m2 located at the 3 fronts of Phan Chau Trinh - Hung Vuong - Nguyen Thi Minh Khai, invested by Vu Chau Long Real Estate Joint Stock Company, and granted an investment certificate in 2008. Up to now, the project has only completed the diaphragm wall and bored piles. "Hung" for many years, the project area has now formed a large pond with deep water that is very dangerous.

In 2019, the People's Committee of Da Nang City decided to withdraw the project to implement the project of walking garden combined with underground parking lot. However, the estimated compensation cost is about 850 billion VND, so the investor was asked to continue implementing the project.

For this project, the Department of Planning and Investment proposed that Da Nang City should request the Standing Committee of the City Party Committee to allow the project to be implemented. In case the City Party Committee does not agree, the city will assign the Department of Planning and Investment to carry out the procedures to terminate the project. In case the City Party Committee agrees and the investor continues to implement the project, the investor must contact the Department of Construction to carry out the procedures to adjust the planning in the direction of no more apartments and condominiums and to fulfill financial obligations to the State. In case the investor does not agree to continue the implementation, the city will assign the Department of Natural Resources and Environment to carry out the procedures to auction assets on land and land to implement the project in accordance with the purpose of land use and the newly approved planning.

Source: https://vtc.vn/can-canh-3-sieu-du-an-tren-dat-vang-da-nang-bo-hoang-suot-15-nam-ar829842.html