Agribank Branch 3 (HCMC) has just announced the auction of land use rights of 278m2 and house ownership rights located at 60B Nguyen Van Thu (Dakao Ward, District 1, HCMC). This land is being used to build a 3-storey house with a floor area of ​​121m2 (total usable area of ​​325m2).

The starting price is 119,037 billion VND.

This is Mr. Nguyen Minh Hoang's property mortgaged to the bank under the credit contract signed in 2018 to ensure payment obligations to Hoa Lam Agricultural Joint Stock Company.

Mr. Nguyen Minh Hoang is known as the Director of Saigon Investment Construction Trading Company Limited (60B Nguyen Van Thu, Dakao Ward, District 1). This is the investor of the project "Da Lat Flower Valley Residential Area".

The project covers an area of ​​over 1.5 hectares and was granted an investment certificate in early 2012. The investor expected to complete the project in 2015, then extended for 24 months and then another 18 months.

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Dalat Flower Valley housing project after being asked to stop construction. Photo: Hoang Giam

At this project, while in the stage of digging the ground and making internal roads, the People's Committee of Ward 3 and the Urban Order Management Team of Da Lat City organized an inspection and made a working record on July 5, 2023, requesting the investor to stop construction and move machinery and equipment elsewhere due to the potential risk of landslides. The investor must take measures to collect surface water and wastewater, cover areas at risk of landslides and delimit dangerous areas.

In August 2023, Lam Dong provincial leaders also requested the investor to stop construction and implement measures to prevent landslides, ensure safety for people living around the project, and only invest in construction of project items, including embankments, when permitted by competent authorities.

Up to now, this project has not been resumed, although this is one of 6 projects in Da Lat City approved by Lam Dong Provincial People's Committee to transfer land use rights in the form of dividing plots and selling them to people to build their own houses according to the plan.

Regarding Hoa Lam Agricultural Company, this is a business whose director is Mr. Nguyen Hoang Son (born in 1989). Hoa Lam also has an address at the place where the bank is selling.

This enterprise was established in 2007, operating in the field of fruit tree planting with a scale of more than 1,000 hectares and a farm with thousands of dairy cows and beef cattle in Ba Ria - Vung Tau.

In addition to Hoa Lam, Mr. Nguyen Hoang Son is also the director of Flower Valley Trading and Service Company Limited (real estate sector), Saigon Passion Trading and Service Company Limited (agricultural sector) and Vietnamese Cow Farm Company Limited (cow farming).