Urban planning for the construction of urban areas in Tien Phong commune and Dong Son commune. Source: yendung.bacgiang.gov.vn
Project 2 is invested on an area of 40.9 hectares, mostly agricultural land, about 34 hectares with the goal of completing the infrastructure structure in accordance with the approved detailed planning.
Accordingly, the technical infrastructure part will be invested according to the approved detailed planning project by the Provincial People’s Committee, including items such as leveling, roads, parking lots, storm drainage systems, wastewater drainage systems, household water supply systems, power supply systems, public lighting systems, communication systems, greenery, sidewalks, parks, squares, lakes and cemeteries parks.
The housing construction part will include low-rise houses under construction, completing the façade of 364 houses on an area of about 4.6 hectares and high-rise apartments built on CT land plots with an area of about 1.8 hectares, construction density is 33%, high-rise from 25 floors.
In addition, the project will invest in the construction of a cemetery park on a land plot for cemeteries and crematoria on a total area of 2.35 hectares and 2.75 hectares respectively according to the dossier approved by the competent authority. As for the existing cemetery, an area of about 0.4 hectares, only renovation and beautification will be carried out.
It is estimated that project 2 will need 377 trillion VND for the whole project, not including the cost of compensation, support, and resettlement of 101 trillion VND with an operating period of 50 years from the date of approval of the investor, in which the land for residences, incomplete houses completed facades is 12 years.
In terms of progress, within 60 months from the date of approval, the investor will have to complete procedures for land, construction, and complete the construction work.
In which, the time to complete investment procedures, location permits is 24 months; 18 months for completing the renovation of technical infrastructure for handover and use; 24 months for rough construction, completion of the facade of the apartments as well as completion of construction of high-rise residential buildings.
According to regulations, to implement the project, Taseco Real Estate Investment Joint Stock Company (Taseco Land, UPCoM: TAL) needs minimum equity capital of 580 billion VND, equivalent to 30% of the total investment amount.
At the same time, the dossier also requires TAL to have experience in implementing a similar project in the field of urban areas, commercial houses with a minimum value of 1.3 trillion VND or 2.3 trillion VND depending on the role of the Company as an investor or main contractor for construction along with the condition that the project must be completed or mostly completed within 5-7 years.
Map of the area around Tien Phong commune, Bac Giang province. Source: BGP
At the end of 2021, the People’s Committee of Bac Giang province approved the detailed planning ratio of 1/500, the construction of urban areas in Tien Phong commune, Yen Dung district, and Dong Son commune, Bac Giang city.
Accordingly, the location of the land is located north of the road connecting QL17 with DT293, belonging to Tien Phong commune, Yen Dung district and Dong Son commune, Bac Giang city, with a total scale of 95.6 hectares and a population of over 12,000 people.
Also in this urban area, in the announcement on the national bidding system on the same day, D-Park Group Joint Stock Company is the only investor registered to participate in implementing zone 1, on an area of 48.9 hectares, along with similar technical infrastructure items like zone 2. The housing part includes only 353 houses under construction, completed facades on an area of nearly 4 hectares.
The total investment cost for zone 1 is about 1.3 trillion VND, not including the cost of compensation, support, and resettlement amounting to 134.5 billion VND with an operating period of only 12 years from the date of approval of the investor. The project has a similar progress to zone 2, except for the time to complete the construction of technical infrastructure as well as rough construction, completion of the facades of the apartments in just 18 months.
D-Park Group needs a minimum of 214 billion VND of equity capital along with experience in implementing a project with a minimum total investment amount of either 857 billion VND as an investor or 128.5 billion VND or 469 billion VND as a main contractor depending on the role of the Company, and the project must be completed or mostly completed within 5-7 years.
Established in 2020 in Nam Tu Liem district, Hanoi City, D-Park Group operates mainly in the real estate business, land use rights owned, used or leased by the owner.
In addition to D-Park, Mr. Duong also owns and is the Director of Dragon City Urban Development Joint Stock Company (headquartered in Vinh Phuc province, capital of 750 billion VND), Cuu Long Urban Infrastructure Joint Stock Company (Bac Giang province, 50 billion VND).
Initially, D-Park Group’s charter capital was 200 billion VND, in which Mr. Nguyen Tien Linh contributed 98%, the remaining part belonged to Mrs. Pham Thi Thanh Hong (1%) and Mrs. Nguyen Thi Bich Luong (1%). The legal representative at that time was General Director Dang Hoang Duong.
D-Park Group carried out an increase in charter capital to 800 billion VND at the beginning of 2021 before reducing it to 300 billion VND in 2023 with a registered total workforce of 5 people. Also in this year, the Company moved its headquarters to Tay Ho district.