Lang Van project mobilized more than 16,000 billion VND to develop housing

According to the Department of Construction, on July 11, the unit received an official dispatch from Vinpearl Joint Stock Company under Vingroup Corporation - the investor of Lang Van project regarding capital mobilization for construction investment in this project.

Lang Van project is located in Hai Van ward, Da Nang city. The land use area is 5,011,423 ^m2 , of which residential land is 1,013,898 ^m2 ). The total investment capital of the whole project is nearly 44,000 billion VND, of which residential land is about 19,823 billion VND. The project implementation progress is until the fourth quarter of 2029.

Pursuant to the provisions of law, Article 43 of Decree No. 95/2024/ND-CP dated July 24, 2024 of the Government and the documents provided by the investor, the Department of Construction said that the Lang Van project is eligible to mobilize capital for housing development in the form of capital mobilization through capital contribution, investment cooperation, business cooperation, joint ventures, and associations of organizations and individuals according to the provisions of the Housing Law.

The capital mobilization for housing development is about 16,850 billion VND (ensuring 85% of the investment capital for housing construction). For other items, the investor will mobilize capital according to legal regulations with a deadline until the end of the project's construction investment progress.

The Department of Construction requires Vinpearl Joint Stock Company to strictly comply with capital mobilization and use of housing development capital to ensure principles as prescribed in the Housing Law.

The investor shall implement the project in accordance with the provisions of law on investment, land, housing, construction, environmental protection, fire prevention and fighting and related laws; fully perform the responsibilities and obligations of the investor as prescribed.