Binh Dinh approves investment policy for mixed-use apartment project worth 2,200 billion VND | Gia Lai Electronic Newspaper

On May 24, the People's Committee of Binh Dinh province announced that it had just issued a decision approving the investment policy for the project to build a mixed-use apartment building at land plot No. 72B Tay Son Street (now No. 25 Tay Son Street, Ghenh Rang Ward, Quy Nhon City), in the form of auctioning land use rights to select investors.

Land plot No. 72B Tay Son Street, Quy Nhon City (formerly the headquarters of the Department of Labor - Invalids - Social Affairs of Binh Dinh Province) was put up for auction for a mixed-use apartment building project.

The project covers an area of over 7,000 m2, of which residential land and mixed-use apartment building construction is over 5,500 m2, and traffic land - technical infrastructure (sidewalks outside the project boundary) is 1,575 m2. The project population is about 4,200 people. The total investment capital of the project is over 2,200 billion VND.

The project is designed and constructed for residential purposes and other purposes, such as: office, service, commercial, apartment, office combined with accommodation... according to national technical standards on apartment buildings. The project's operating period is 50 years, calculated from the date the investor is decided to allocate land, decide to lease land, decide to change the land use purpose.

The project aims to concretize the detailed planning 1/500 at land plot No. 72B Tay Son Street, Ghenh Rang Ward, Quy Nhon City; at the same time, create a residential land fund to invest in building mixed-use apartment buildings to beautify the urban area.

Within 12 months from the date of the decision of the People's Committee of Binh Dinh province recognizing the results of the land use rights auction, the investor must complete the investment preparation procedures in accordance with current regulations to start construction of the project items.

The construction period of the project shall not exceed 30 months from the date of issuance of the construction permit. During the project implementation, if the investor violates the above schedule, the project and land will be considered for revocation, financial handling and the auction winning amount paid will be confiscated to the state treasury in accordance with current law.

Binh Dinh Provincial People's Committee assigned the Department of Natural Resources and Environment to preside over and coordinate with relevant agencies to organize land use rights auctions according to regulations.

According to the reporter's records, the above land has 3 frontages, is located in a prime location and is only more than 100m from Quy Nhon beach.