Abandoned 4,200 billion VND model project in Quang Nam: Waiting for instructions from ministries
The housing construction investment project of Home Land Paraside Village Urban Area with an investment capital of 4,200 billion VND invested by Dana Home Land Urban Development and Investment Joint Stock Company has been abandoned for many years and has not been extended.
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| The Home Land Paraside Village Urban Area housing construction investment project has an investment capital of 4,200 billion VND. |
The 56.6 ha project was adjusted down to 31.4 ha.
The Office of the People's Committee of Quang Nam province said that it has just sent a report to the Provincial Party Secretary regarding the Home Land Paraside Village Urban Area Housing Construction Investment Project in Dien Nam - Dien Ngoc New Urban Area (Dien Ban town), invested by Dana Home Land Urban Development and Investment Joint Stock Company (abbreviated as Dana Home Land).
According to the People's Committee of Quang Nam province, the project was initially assigned to Quang Nam Traffic Construction Company as the investor. In 2007, the People's Committee of the province revoked and transferred the project to Chi Thanh Company Limited as the investor of Urban Area No. 6.
Chi Thanh Company Limited has adjusted the detailed planning (1/500) and has been approved by the Provincial People's Committee with an area of 56.6 hectares. The Provincial People's Committee also issued a decision on land recovery and land allocation to Chi Thanh Company Limited for investment in construction and infrastructure business, with an allocated land area of 56.6 hectares in 2008.
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| The project is expected to be completed by June 2022, but is still in disarray. |
By 2013, due to the adjustment of the Co Co River section bordering Da Nang City and Quang Nam Province to dredge and clear the river route from Da Nang to Hoi An, this new river route was located on a part of the land area of Urban Area No. 6, with an area of about 2.79 hectares. Therefore, the People's Committee of Quang Nam Province decided to adjust and reduce the area of Urban Area No. 6 from 56.6 hectares to 53.8 hectares.
By 2015, because Chi Thanh Company Limited did not pay land use fees according to regulations, the Provincial People's Committee issued Decision No. 4263/QD-UBND to reclaim about 22.45 hectares.
Due to many reasons, including financial difficulties, Chi Thanh Company Limited has borrowed and the mortgaged assets are assets formed from loan capital at Vietnam Public Commercial Joint Stock Bank.
On June 29, 2018, Vietnam Public Joint Stock Commercial Bank had a debt purchase contract with Dana Home Land Company. In which, Dana Home Land bought all the debt of Chi Thanh Company Limited from Vietnam Public Joint Stock Commercial Bank.
On November 14, 2018, Chi Thanh Company Limited and Dana Home Land Company met and agreed on a plan to hand over part of the Urban Area No. 6 project in the new urban area of Dien Nam - Dien Ngoc, Dien Ban town with the following contents: Chi Thanh Company Limited agreed to transfer an area of 27.96 hectares of the Urban Area No. 6 project to Dana Home Land Company as the investor.
For the remaining area of 3.38 hectares, Chi Thanh Company Limited proposed to agree in principle to allow continued investment and construction.
After being approved by the Provincial People's Committee for the transfer, Dana Home Land Company has completed the procedures for adjusting the detailed construction planning (1/500), approving the investment policy, approving the environmental impact assessment report, and appraising the construction design.
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| Up to now, the project has not been extended. |
At the same time, on the basis of the legal inheritance of the Urban Area No. 6 project, Dana Home Land Company continues to construct the technical infrastructure items of the project including leveling, traffic system, drainage, and most of the housing of the project according to the approved adjusted planning.
According to the People's Committee of Quang Nam province, this is the first project in the province to be implemented under Resolution No. 42/2017/QH14 of the National Assembly on piloting the handling of bad debts of credit institutions; regulations on land procedures are not yet specific. Up to now, the project has not been allocated land or determined financial obligations on land.
Quang Nam Provincial People's Committee also said that it has directed the Department of Natural Resources and Environment to preside over and coordinate with relevant agencies and units to inspect, review, and advise the Provincial People's Committee on documents to continue recommending to the Ministry of Natural Resources and Environment and relevant Central Ministries and branches for guidance to promptly determine the project's financial obligations on land in accordance with regulations.
The model project has not been renewed yet.
After completing the procedures until June 2020, the project will start construction and is oriented to be a 4.0 urban area, the first model green urban area in Quang Nam, with an expected population of about 3,200 people, including 94 villas, 570 townhouses and an apartment block with many modern internal facilities. The project has a total investment of up to 4,200 billion VND.
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| Road and drainage infrastructure is still in disarray, many roads in the campus have not been paved. |
According to the investment policy approval document of the Quang Nam Provincial People's Committee, by June 2022, the project must complete all technical infrastructure, be accepted, and put into use. However, nearly 2 years late, the project is still in disarray and unfinished.
According to the reporter's records, the project has no construction workers, a series of unfinished and shabby houses. The road infrastructure and drainage ditches are still in disarray, many roads in the area have not been paved. Currently, some villas and townhouses here are being completed, but most are still in disarray. In particular, many rows of houses and villas have been abandoned for a long time, with overgrown grass, and some items showing signs of damage and deterioration.
Mr. Nguyen Xuan Ha, Vice Chairman of Dien Ban Town People's Committee, said that the Homeland Paradise Village project has not yet been extended. This project has been stopped recently due to financial problems, procedures, debt trading and not yet determined financial obligations, etc. Up to now, the project has not yet issued red books to the people.
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