On January 24, 2024, the People's Committee of Nghe An province issued Decision No. 15/QD-UBND approving the consortium of North Central Real Estate Investment Joint Stock Company and Hung Phat Phu Quoc Tourism Construction and Real Estate Business Investment Joint Stock Company as the investor to implement the Urban Area project in Thanh Chuong town, Thanh Chuong district, Nghe An province.

The project has a preliminary total implementation cost of 889.266 billion VND, an area of ​​109,438 ^m2 ; a population of 1,200 people. The construction scale includes a commercial service area with a land area of ​​1,963.10 ^m2 , 3 floors high; a low-rise residential area with a total area of ​​40,618.2 ^m2 , a total of 315 plots of land, 4 floors high; trees, sports, landscape, square with a total land area of ​​9,824.9 ^m2 ; cultural house, kindergarten, wastewater treatment plant, technical infrastructure system...

The project's operating period shall not exceed 50 years from the date of land allocation to the investor. The project shall be completed within 4 years from the date of meeting the conditions for commencement of construction as prescribed by law.

According to the project, the investor's capital contribution is 211 billion 765 million VND; mobilized capital is 677.5 billion VND. Capital contribution progress is according to project progress.

The decision also clearly states the responsibilities of relevant agencies and units in implementing the project.

Specifically, investors must make advance payments for site clearance compensation to competent state agencies to implement the approved compensation plan; and make a deposit to ensure project implementation in accordance with the provisions of the Investment Law and implementing guidelines.

Carry out environmental protection procedures according to the provisions of Decree 08/2022/ND-CP; Collect and treat waste generated from the project to ensure compliance with current environmental protection standards.

During project implementation, investors are responsible for fully complying with legal regulations on investment, construction, environmental protection, labor, synchronous infrastructure connection and ensuring traffic safety and related legal regulations.

The project can only be implemented after all procedures regarding land, environment, construction, etc. and related legal regulations have been completed.

The project can only be put into operation (real estate business, sale of project houses...) when it ensures the legal conditions on housing, real estate business and related legal regulations.

Quarterly and annually, report to relevant sectors on project implementation status.