
The reason for the revocation is that the land was leased by the State for a limited period but the land use was not extended; as stipulated in Point c, Clause 1, Article 82 of the 2024 Land Law. According to regulations, the investor has 24 months from the date of expiry of the land lease to dismantle and move assets on the land. The locality requires the investor to handle assets attached to the land and fully perform financial obligations as prescribed throughout the process to hand over the site to the State.

More than 20 years ago, Khanh Hoa province leased more than 28,000 square meters of coastal land to Sovico Khanh Hoa Company Limited for the Ana Mandara project. In early 2024, the province reclaimed 20,000 square meters and extended 8,000 square meters until the end of 2024.
In June 2025, the locality received an additional 6,200m2 along 90m of coastline. After taking over more than 1,815m2 of the above land, Khanh Hoa province completed the recovery of the entire area of the Nha Trang sea barrier project for renovation and public service.
Source: https://www.sggp.org.vn/khanh-hoa-hoan-tat-thu-hoi-toan-bo-dat-du-an-chan-bien-nha-trang-post814812.html
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