Sun City approved to invest in 10,540 billion VND real estate project in Thu Duc City

Sun City Real Estate Investment and Development Company Limited was approved by Thu Duc City People's Committee for investment policy and investor of the 10,540 billion VND real estate project in An Khanh ward.

Sun City approved to invest in 10,540 billion VND real estate project in Thu Duc City

Sun City Real Estate Investment and Development Company Limited was approved by Thu Duc City People's Committee for investment policy and investor of the 10,540 billion VND real estate project in An Khanh ward.

Thu Duc City People's Committee has just issued Decision No. 15080/QD-UBND approving the investment policy and approving the investor of the Project of Residential Area combined with trade, services, and high-rise offices in An Khanh Ward, Thu Duc City.

According to the Decision, Sun City Real Estate Investment and Development Company Limited is allowed to build apartments for sale, lease, and lease-purchase to organizations and individuals in need of housing in accordance with the law.

The project is built on an area of ​​8.96 hectares with a total investment proposed by the investor of VND 10,540 billion, including investor's contributed capital, borrowed capital, capital mobilized from organizations and individuals in accordance with legal regulations.

Project implementation progress is 8 years from the date of investment policy approval and project investor approval.

According to the progress proposed by the investor, from 2024 - 2026, complete the project's legal procedures and proceed with investment in the complete construction of the project's technical infrastructure.

From 2026 - 2032, invest in the construction of residential projects combined with commercial services, offices, public utility functional works... and acceptance and handover.

The Decision also clearly states that investors are responsible for reserving 20% ​​of the total residential land area (excluding existing residential land and resettlement land) within the project to build social housing (according to Decree No. 100/2024/ND-CP of the Government).

In addition, the investor is responsible for investing in the construction of urban infrastructure within and outside the project scope according to the planning approved by the competent authority and in accordance with the commitment in Document No. 08/2024/SC-CVCC dated September 24, 2024 of the investor.

For technical infrastructure systems (traffic, public trees, flower gardens, etc.), investors are responsible for completing construction, then preparing completion records, inspecting the quality of the project before putting it into use and handing over the infrastructure within the project to local authorities or specialized management agencies according to regulations.

Source: https://baodautu.vn/batdongsan/sun-city-duoc-chap-thuan-dau-tu-du-an-bat-dong-san-10540-ty-dong-tai-tpthu-duc-d230748.html