Close-up of the super project that Ms. Truong My Lan wants to use to remedy the consequences of the case

In a recent trial, Ms. Truong My Lan - Chairwoman of Van Thinh Phat Group - proposed using the "super project Amigo" in the quadrangle of Nguyen Hue - Ngo Duc Ke - Ho Tung Mau - Huynh Thuc Khang (District 1, Ho Chi Minh City) to remedy the consequences for bondholders.

This project has a prime location, owning 4 facades in the center of District 1. One side of the project is on Nguyen Hue Street, opposite Times Square building, also owned by Van Thinh Phat Group.

The project facade on Ngo Duc Ke street is opposite Bitexco Financial Tower. The facade on Huynh Thuc Khang street is opposite Sun Wah building, where many office workers gather.

The land is home to many residential buildings, many large brands rent business premises, mainly in the F&B (food and beverage) industry and there are some buildings managed by the State.

This area is also visited by many tourists, because of its convenient location, close to famous tourist attractions of Ho Chi Minh City.

Ms. Lan said that this super project has a total value 3 times higher than Times Square. The defendant agreed to bring Amigo to remedy the consequences of the case and requested the court and all levels to support the project's revival.

According to Ms. Lan, the Amigo super project has a total area of ​​11,158m2 (of which 8,342m2 is privately owned land, and the State is managing more than 2,815m2). Up to now, the investor has negotiated and compensated households with an area of ​​7,931m2.

Of which, Van Thinh Phat Investment Joint Stock Company has a land use right certificate for 2,019m2; the remaining 5,912m2 of land, the investor has signed a memorandum of agreement with households.

The project has been approved by the Government for investment and compensation over the past 30 years and is only about ten percent complete, Ms. Lan said.

Ms. Lan said she had called on many foreign investors to cooperate and before the defendant was arrested, the Government had agreed to restart the project.

Regarding this project, Ms. Lan said she is lending SCB dozens of red books, the remaining 100 red books were seized in phase 1 of the case related to Van Thinh Phat Group.

The super project has a prime location, fronting Nguyen Hue Street, near famous places in Ho Chi Minh City such as Independence Palace, Ho Chi Minh City People's Committee, Bach Dang Wharf, Thu Thiem Tunnel... (Photo: Google Maps).

Source: https://dantri.com.vn/bat-dong-san/can-canh-sieu-du-an-ba-truong-my-lan-muon-dung-khac-phuc-hau-qua-vu-an-20240929083938459.htm