On the morning of December 13, the 21st session of the 10th Da Nang People's Council, term 2021-2026, continued the questioning session with the Director of the Department of Planning and Investment (DPI) of Da Nang, Ms. Tran Thi Thanh Tam. Delegate Nguyen Minh Huy asked about the progress of handling 3 suspended projects on prime land in the city center, namely the Danang Center Project, the Golden Square Project and the Diamond Square Project.
Regarding the Danang Center Project, according to Ms. Tran Thi Thanh Tam, the Department of Planning and Investment has introduced the project (Vu Chau Long Real Estate JSC) to a number of investors. However, no investor has yet agreed to accept the transfer or cooperate in investment with Vu Chau Long Real Estate JSC.
According to Ms. Tam, the Chairman of the People's Committee of Da Nang City has concluded that the planning will be adjusted appropriately so that Vu Chau Long Real Estate Joint Stock Company can continue to implement the project.
Danang Center project has now become a polluted lake in the center of Danang.
The Department of Planning and Investment has requested the City People's Committee to direct relevant agencies to review the project's legal status to advise on whether the project can continue to be implemented according to the objectives and scale granted in 2008 to see if there are any problems and propose solutions (if any).
In case the project is not continued, the City People's Committee will organize a direct meeting with the investor to agree on a solution, avoiding prolonged complaints and lawsuits.
Regarding the Golden Square Project, the Director of the Department of Planning and Investment said that this is a project of Dong A Real Estate Joint Stock Company, which was first granted an investment certificate by the People's Committee of Da Nang City in 2008. Based on the investor's request to terminate the project, the Department of Planning and Investment issued a notice to terminate the project.
On October 31, 2024, the Department of Natural Resources and Environment reported on the proposal to transfer land use rights and assets attached to land at the Golden Square Project of Dong A Real Estate Joint Stock Company when the following conditions are met: Dong A Real Estate Joint Stock Company has fulfilled all financial obligations at the project, including the amount of lost revenue according to Conclusion 2852/2012 of the Government Inspectorate.
Dong A Real Estate Joint Stock Company has resolved the dispute over the Credit Contract with Dong A Bank at the People's Court of Phu Nhuan District, Ho Chi Minh City and added a written commitment between the seller and the buyer that there will be no disputes, complaints, or lawsuits related to the property on the land after receiving the transfer.
Dong A Bank and Dong A Real Estate Joint Stock Company have both sent a petition to the Da Nang People's Committee requesting that this be considered a case of force majeure. The petition has been forwarded to the Department of Natural Resources and Environment for processing.
Golden Square project of Dong A Real Estate Joint Stock Company has an area of 10,664.0m2 located at 4 frontages of Pham Hong Thai - Nguyen Chi Thanh - Nguyen Thai Hoc - Yen Bai.
The third project is Diamond Square, Ms. Tam provided information about the previous project of Vien Dong Vietnam Real Estate Joint Stock Company which was granted an Investment Certificate by the People's Committee of Da Nang City in 2007. On November 14, 2019, the City People's Committee announced the termination of the project.
The land has been transferred to Kinh Bac Da Nang Company Limited. The new investor has been granted a new Land Use Right Certificate, the purpose of use is commercial service land.
Ms. Tam said that after Resolution 171/2024 of the National Assembly on piloting the implementation of commercial housing projects through agreements on receiving land use rights or having land use rights takes effect from January 1, 2025, the City People's Committee will submit to the People's Council for approval the list of land areas expected to implement the pilot project.
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