Binh Dinh terminates urban, commercial and service project worth nearly 740 billion VND

The joint venture of Nam Viet Real Estate Joint Stock Company and Saigon Construction Joint Stock Company terminated the investment project of the 10-hectare commercial and service urban area south of Do Doc Bao Street in An Nhon town.

Binh Dinh terminates urban, commercial and service project worth nearly 740 billion VND

The joint venture of Nam Viet Real Estate Joint Stock Company and Saigon Construction Joint Stock Company terminated the investment project of the 10-hectare commercial and service urban area south of Do Doc Bao Street in An Nhon town.

Boundary of the Commercial - Service Urban Area Project south of Do Doc Bao Street. Source: IPC Binh Dinh.

The People's Committee of Binh Dinh province has just agreed in principle and assigned the Department of Planning and Investment to carry out procedures to terminate the investment project of the Southern Commercial and Service Urban Area of ​​Do Doc Bao Street, Dap Da Ward, An Nhon Town. The project is invested by the joint venture of Nam Viet Real Estate Joint Stock Company and Saigon Construction Joint Stock Company.

The Department of Planning and Investment of Binh Dinh province said that the reason for termination was that the investor decided to terminate the project.

Along with terminating the project, the People's Committee of Binh Dinh province also abolished Decisions No. 395/QD-UBND, dated February 8, 2022 (approving the investment policy and approving the list of investment projects using project land) and Decision No. 848/QD-UBND, dated March 17, 2022 (approving the preliminary requirements for capacity and experience of investors registering to implement the above project).

After the termination, An Nhon Town People's Committee will review and re-propose the form of selecting investors to implement the Commercial - Service Urban Area Project South of Do Doc Bao Street.

The project of the Southern Commercial and Service Urban Area on Do Doc Bao Street has a total investment of over 739.8 billion VND (project implementation cost over 712 billion VND, over 27 billion VND for site clearance compensation), implemented on an area of ​​10 hectares. The investor was selected through bidding.

In May 2022, the joint venture of Nam Viet Real Estate Joint Stock Company and Saigon Construction Joint Stock Company was the investor that passed the preliminary assessment of capacity and experience in project implementation.

The project also attracted other registered investors, namely the Joint Stock Company - MBLand Corporation and HUD1 Investment and Construction Joint Stock Company. However, this joint venture was eliminated at the preliminary assessment stage of project implementation capacity and experience (not meeting the requirements related to financial statements not audited by an independent auditing agency).

It is known that the project progress is from the third quarter of 2022 to the third quarter of 2026. At the end of December 2023, the People's Committee of Binh Dinh province mentioned that the project was slow to implement; at the same time, the investor is carrying out procedures for 1/500 planning, site clearance compensation, land and construction procedures, etc.

The reporter also contacted the representative of Nam Viet Real Estate Joint Stock Company to find out the reason for terminating the project, but has not received a response.

Source: https://baodautu.vn/batdongsan/binh-dinh-cham-dut-du-an-khu-do-thi-thuong-mai-dich-vu-gan-740-ty-dong-d232896.html