The Department of Natural Resources and Environment (DNRE) of Ho Chi Minh City has announced that it is selecting a consulting firm to appraise the value of the ‘golden land’ at 2-4-6 Dong Khoi, Ben Nghe Ward, District 1. This is the 6th time that the DNRE has publicly selected an appraisal unit.

This land is located at the intersection of Dong Khoi and Ton Duc Thang streets, with three road frontages, and is considered the most prime location in Ho Chi Minh City. The land has a total area of ​​1,522.2m2, including 1,458.1m2 without encroachment on the boundary and 64.1m2 encroaching on the boundary.

According to the plan, the land will be developed into a complex project, including hotels, commercial and office spaces, with a scale of 20 floors.

The ‘golden land’, with an area of over 1,500m2 at 2-4-6 Dong Khoi, District 1. (Photo:

According to the DNRE of Ho Chi Minh City, the valuation of this land was conducted in November 2015 for the purpose of providing a basis for the land user to fulfill financial obligations to the State as regulated.

According to our investigation, the owner of the ‘golden land’ at 2-4-6 Dong Khoi, District 1 mentioned above is the Vietnam Seafood Corporation (Seaprodex). Although Seaprodex has already paid for the land use of this plot, it has not been granted a certificate as of March 2023.

In a related development, at the end of 2023, a subsidiary of Novaland became a major shareholder of Seaprodex.

Specifically, Nova Hospitality acquired a total of 17.65 million shares of Seaprodex, thereby increasing its ownership stake in Seaprodex to 18.65%. It is known that these transactions were carried out in early December 2023 with a total value of over 435 billion VND.

Prior to that, a subsidiary of Novaland already owned 5.64 million shares, equivalent to 4.52% of Seaprodex’s charter capital.

In September 2023, an extraordinary general meeting of shareholders of Seaprodex approved the addition of two members to the Board of Directors for the term 2020 – 2024. These two individuals are Ms. Luong Thi Thu Huong and Ms. Bui Thi Thanh An.

Ms. Thu Huong is known as the Director of Legal Affairs at Novaland, while Ms. Thanh An previously held the position of Director of Foreign Affairs and Assistant to the Chairman of NovaGroup.

By Phuong

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