Billionaire Pham Nhat Vuong's 23,000 billion super project in Hai Phong receives good news

(Dan Tri) - The project to build a new urban area in Duong Kinh and Kien Thuy districts (Hai Phong) invested by Vinhomes Joint Stock Company is eligible to mobilize capital to develop the project.

The Department of Construction of Hai Phong City has sent a notice to Vinhomes Joint Stock Company (stock code: VHM) about the project to build a new urban area in Duong Kinh district and Kien Thuy district (excluding housing projects for resettlement), eligible to mobilize capital to invest in the construction of commercial housing through capital contribution.

The project covers an area of ​​about 240 hectares and is located in Hoa Nghia Ward, Duong Kinh District and Dong Phuong and Dai Dong Communes, Kien Thuy District, Hai Phong City. This location is adjacent to Highway 5B connecting Hanoi - Hai Phong - Quang Ninh. The total investment of the project is more than VND 23,218 billion (nearly USD 1 billion).

In early March, Vinhomes sent a notice requesting to raise capital with a total amount of VND 13,500 billion to develop the project. This amount of money will be used to build housing projects and technical infrastructure for the project part that has been allocated land and leased land by Hai Phong City (excluding housing projects for resettlement).

Of which, Vinhomes will receive a loan of VND7,920 billion from the Bank for Foreign Trade of Vietnam (Vietcombank) to pay for land use fees and construction costs. To date, Vietcombank has disbursed about VND4,806 billion.

Perspective of new urban area project in Duong Kinh district and Kien Thuy district (Photo: EIA report).

On this basis, the Department of Construction announced that Vinhomes' capital mobilization level through capital contribution, investment cooperation, business cooperation, joint ventures, and associations of organizations and individuals does not exceed the proposed capital mobilization level of VND 13,500 billion and is responsible for continuing to implement and complete the project according to the approved schedule.

According to the environmental impact assessment (EIA) report published in 2024, the project in Duong Kinh - Kien Thuy is expected to begin trial operation in 2026, after completing major items such as traffic infrastructure, housing areas, public works and schools. The entire urban area is expected to be completed in the second half of 2029.

Regarding planning, the project allocates 69.4 hectares for the development of housing types, of which 13.9 hectares are planned for social housing construction with a maximum construction density of 25%, up to 10 floors in height. It is expected that the urban area will provide about 5,000 townhouses on an area of ​​36.6 hectares and 1,300 villas on an area of ​​about 18.8 hectares.

This is Vinhomes’ fourth urban area project in Hai Phong, after Royal Island, Marina and Imperia. Of which, Royal Island on Vu Yen Island is the largest project the company has ever implemented in this locality, with an area of ​​877 hectares and a total investment of up to 2.4 billion USD.

Source: https://dantri.com.vn/bat-dong-san/sieu-du-an-23000-ty-cua-ty-phu-pham-nhat-vuong-tai-hai-phong-don-tin-vui-20250326035403011.htm