On October 31, the Ministry of Construction issued Notice 273/TB-BXD (hereinafter referred to as the Notice) on “Results of inspection of State management in the field of housing and real estate business in Phu Tho province”. In which, there are some contents related to the Southwest Urban Area Project of Viet Tri City (also known as the Palm Manor Project) invested by Global Real Estate Investment Joint Stock Company (GP Invest). This enterprise has responded to the above content.

View of the Southwest Urban Area Project of Viet Tri City.

Specifically, the inspection of State management in the field of housing management and real estate business in Phu Tho province was conducted by the Ministry of Construction from December 4 to December 8, 2023. Therefore, the inspection results announced on October 31, 2024 according to the Notice reflect the contents at the time of inspection in December 2023.

Regarding the project scale and investor name, according to the Notice, the Southwest Urban Area Project of Viet Tri City was approved by the People's Committee of Phu Tho Province as the Investor according to Decision No. 523/QD-UBND dated February 28, 2013, with a land use scale of 58.5 hectares (the Notice mentioned "Actual project scale") and the Investor is Global Petroleum Investment Joint Stock Company - the name of Global Real Estate Investment Joint Stock Company in 2013.

On August 19, 2015, Global Petroleum Investment Joint Stock Company officially changed its name to Global Real Estate Investment Joint Stock Company (GP.Invest), without changing the business code according to the Joint Stock Company Business Registration Certificate, registered for change on August 19, 2015.

According to Decision No. 2292/QD-UBND dated October 30, 2023, the detailed planning at a scale of 1/500, the approved land area for investment is 56.4 hectares. Based on that, the Investor GP. Invest has been implementing the project in accordance with the approved planning and decision.

Regarding real estate business activities at the project, at the time of December 2023, GP. Invest's report sent to the Department of Construction of Phu Tho province confirmed that the Southwest Urban Area Project of Viet Tri City had not conducted any real estate business transactions, reflecting the actual situation at that time. By April 4, 2024, the Project had received a written notice from the Department of Construction of Phu Tho province on its eligibility to sell future housing according to Document No. 509/SXD-QLN&PTDT.

The investor of the Southwest Urban Area Project of Viet Tri City commits to implementing the project in accordance with legal regulations, ensuring quality and construction progress.

Thuy Trang