Approval granted for investment policy of Ky Phu Residential Area No. 3 Project (Ky Phu Central Area)

Van Phu Commune, with its favorable location, promises to be an attractive investment destination for investors

Accordingly, the Project has a land use scale of nearly 101,700 m², with a population scale of approximately 1,370 people. The implementation of the Project will result in a housing product structure and a land fund for social housing development, including: Residential land with completed technical infrastructure eligible for land use rights transfer in the form of plot division and lot sales for residents to build their own houses in accordance with regulations on land, housing and real estate business.

The Project has a preliminary total investment of over VND 140,700 billion, including: Preliminary project implementation costs of VND 91,754 billion; and preliminary compensation, support and resettlement costs of VND 49,015 billion. The investor selected to implement the Project must mobilize lawful capital sources to carry out the Project in accordance with regulations. The aforementioned preliminary investment capital is indicative only and shall not be used for calculating land use fees, land rent, or the financial obligations of the selected investor. The determination of land use fees and land rent for the Project shall comply with legal regulations.

The Project will be implemented in Van Phu Commune, Dai Tu District, Thai Nguyen Province, with an operation period not exceeding 50 years from the date the investor is allocated or leased land by competent authorities; implementation schedule from the second quarter of 2025 to the end of the fourth quarter of 2028.

Ky Phu Residential Area No. 3 Project (Ky Phu Central Area), once completed, will form a model urban area with shophouses

Regarding the investment and construction plan and management of urban infrastructure within and beyond the Project boundaries, the implementation will be as follows: The investor shall invest in constructing the entire technical infrastructure system within the Project boundary in accordance with the approved planning, ensuring synchronization and connectivity with external infrastructure systems; manage and operate urban infrastructure within the Project until it is handed over to competent agencies or organizations for management and use in accordance with regulations.

Upon completion of the investment and construction, the investor shall have the right to conduct real estate business activities such as selling, leasing and transferring when all conditions prescribed by law are met. At the same time, the investor must hand over to the authorities or organizations all technical and social infrastructure, including connection works to external infrastructure systems in accordance with the approved planning and public land.