How is the 11,000 billion VND super project that Ronaldo once 'purchased' now?

TPO – The Cocobay project (Da Nang) was once widely advertised, even with football superstar Cristiano Ronaldo “buying” it, but is still inactive due to unresolved issues.

11/29/2024 | 10:38

Da Nang:

TPO – The Cocobay project (Da Nang) was once widely advertised, even with football superstar Cristiano Ronaldo “buying” it, but is still inactive due to unresolved issues.

The Cocobay project in the coastal area of ​​Truong Sa Street, Hoa Hai Ward (Ngu Hanh Son District, Da Nang) has a total investment of 11,000 billion VND, built on an area of ​​about 31 hectares. The project was advertised as a tourism and entertainment complex with many items such as indoor and outdoor performance stages, tourist squares, walking streets and a system of condotels (hotel apartments) and hotels.

Speaking to reporters, a representative of the Da Nang Department of Construction said: The project investor has reported on the project's progress. However, since the report was released, the project has remained at a standstill and has not been re-implemented.

Accordingly, recently, Thanh Do Investment Development and Construction Joint Stock Company - the project investor has made recommendations regarding the issuance of certificates of land use rights, house ownership rights and other assets attached to land for qualified assets. However, these problems are beyond the authority of the city, so the government has reported to the Central Government for comments.

This project was also widely promoted, even football superstar Cristiano Ronaldo "ordered" a house in the project. According to records, inside the project, the entire project area is still in a state of disarray, many areas and construction items are abandoned, surrounded by grass and trees.

According to the investigation, after the investor announced the unilateral termination of the contract with customers of the Cocobay project, the authorities also received many letters of "denunciation and urgent help" from customers who bought real estate here. The authorities of Da Nang requested the investor to urgently work with customers and report on the project implementation status.

In April 2024, the investor submitted a report to the People's Committee of Da Nang City and the Department of Construction of Da Nang. In which, the investor mentioned that the preparation work is being urgently implemented and proposed a plan to implement the project in the coming time, such as: Infrastructure works, landscape of the whole area, implemented from April 15, expected to be completed by the end of December 2024.

HH3 subdivision – Co Co 1 commercial apartment building, high-end apartment building, started on April 26, expected to be completed in October 2024; the garden townhouses in September 2024. HH5 subdivision – Co Co 2 commercial apartment building, high-end apartment building, expected to be completed in August 2025….

HH7 subdivision – Co Co 4 high-end commercial and apartment building will be implemented from April 26, 2024 and is expected to be completed in April 2025. The remaining block of townhouses and garden houses will be completed in March 2025; townhouses – shophouses, semi-detached villas, school – service block in December 2024. HH6 subdivision: 2 – 3-storey single villas, expected in March 2025….

According to the investor’s announcement, the company is in the process of restructuring and preparing resources to launch the project. Therefore, the extension of sales contracts with customers in the past is undesirable…

According to the representative of the Department of Construction of Da Nang City, the "bottlenecks" of the project are waiting for the National Assembly's Resolution to be passed to have a basis to remove the obstacles related to the previous Conclusion 2852 of the Government Inspectorate. If these "bottlenecks" are removed, the project will be able to continue to be implemented.

Source: https://tienphong.vn/sieu-du-an-11000-ty-dong-ma-ronaldo-tung-dat-mua-gio-ra-sao-post1695690.tpo