Nẹnh Town Area. Source: bacgiang.gov.vn
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The Department of Planning and Investment of Bac Giang province has announced the record of opening registration files to implement the project of residential area in the southwest of Nẹnh Town (part of the detailed plan for the new urban area of Nẹnh Town, Việt Yên district). Hung Yen Investment and Development Corporation (a subsidiary of Kinh Bac Urban Development Corporation – KBC (HOSE: KBC)) and Ho Chi Minh Museum Construction Corporation (UPCoM: HMS) are two investors who have registered to participate in the project.
The project covers an area of about 3ha. The duration of use is up to 50 years from the date of investor approval. The preliminary estimated implementation cost is about VND 244 billion, along with VND 6 billion for compensation and resettlement support.
The project will invest in technical infrastructure works on an area of about 2ha, including transportation, leveling, communication, power supply, water supply, public lighting, stormwater drainage, wastewater drainage, sewage treatment system, etc.; invest in the construction of a 41m wide and 220m long road.
In terms of housing, the residential area will construct a total of 108 houses on an area of over 1ha, with a height of 5 floors and a building density of 80-100%, including in the areas LK.1 (47 houses on an area of 0.43 ha), LK.2 (35 houses on 0.34 ha), LK.3 (26 houses on 0.28 ha).
The project will be implemented within 36 months (from the date the investor is granted the competent authority’s approval) to complete procedures for land, construction works, completion and acceptance. Specifically, the time to complete land procedures is 12 months, and the remaining 24 months will be used to complete the construction of technical infrastructure works and the construction of adjacent houses.
The investment in the construction of the new southwest urban area of Nẹnh Town aims to complete the infrastructure structure according to the approved plan to meet the socio-economic development requirements of the locality, thereby contributing to the formation of the urban infrastructure structure for Nẹnh Town in particular and Việt Yên district in general.
In addition, the project aims to exploit the potential of land resources in the new urban area of Nẹnh Town and neighboring areas, at the same time, satisfy the urban housing demand for local residents, contribute to forming urban landscape architecture and ensure harmonious connectivity with the surrounding infrastructure.
Investors are required to arrange a minimum owner’s capital of VND 50 billion along with experience in implementing 1 project in the field of urban area, commercial housing under the role of capital contribution or main contractor. In case the investor has participated as a capital contributor, the total minimum investment requirement is VND 150 billion, and it has been completed or mostly completed within 7 years, of which the investor must contribute at least VND 30 billion.
In case the investor has participated as the main contractor for the construction, the project only requires a minimum value of VND 94.8 billion and has been completed or mostly completed within 5 years.
KBC “leaves its mark” on many urban projects in Bac Giang
At the beginning of 2021, Hung Yen Investment and Development Corporation (Hung Yen Group) was approved for establishment with a charter capital of VND 1.8 trillion, of which 60% of the capital is from KBC and 30% of the capital is from Saigon Telecommunication and Technologies Corporation (SaigonTel) (HOSE: SGT) (an associated company, KBC holds 21.48%), the remaining 10% is from Sai Gon – Hai Phong Industrial Zone Joint Stock Company (a subsidiary company, KBC holds 89.26%). The capital contribution representative at SGT is Mr. Pham Van Luc, and KBC is Mr. Dang Thanh Tam.
By the end of 2022, KBC received a transfer of 25% of shares in Hung Yen Group from SGT, increasing the voting shares and benefits ratio to 95% and 93.65%. SGT still retains 5% of shares. Currently, Mr. Dang Thanh Tam, Chairman of the Board of Directors of KBC, is also the Director of Hung Yen Group and Chairman of the Board of Directors of SGT.
According to the information, at the end of 2023, Hung Yen Group received a decision on the conversion of agricultural land use purposes for two industrial clusters at Dang Ly and Kim Dong in Hung Yen province with a total area of 134ha.
The two projects, Dang Ly and Kim Dong industrial clusters, are located in the overall plan of Kim Dong – An Thi Industrial, Urban and Service Complex with a scale of 825ha. The complex includes 5 adjacent industrial clusters with a total area of 375ha, 1 400ha industrial zone, and 1 50ha urban area in Kim Dong and An Thi districts.
It is known that the Saigon – Hai Phong Industrial Zone is also participating in a joint venture to implement two projects in the new urban area of Nẹnh Town: one is a social housing area for workers with a scale of VND 2.3 trillion; the other is a social housing project for workers in lots CT3 and CT4 with a scale of VND 1.7 trillion.
Rendering of Kim Dong – Dang Ly – Chinh Nghia Complex. Source: Hung Yen Group
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Meanwhile, HMS is strong in construction activities, accounting for 86% of revenue in 2022. Some previous projects implemented by HMS include the Ho Chi Minh Mausoleum, Ho Chi Minh Museum, Ba Dinh Conference Hall, National Assembly House (New Ba Dinh Conference Hall), EVN headquarters on Cua Bac street, Samsung industrial zone in Thai Nguyen, etc.
At the beginning of 2023, HMS stated that it is planning to participate as a contracting party to implement construction of the first social housing area in the urban area and social housing complex in Van Trung, Việt Yên district, with HMS Urban Investment and Development Corporation as the investor.
According to the research, this project will be built on an area of 5.6ha, with more than 4.1 thousand apartments/houses and a total investment of over VND 3.2 trillion. The project is scheduled for completion within 42 months from the date of investor approval.
Similarly, in Kim Dong and An Thi districts, HMS is implementing the Pham Ngũ Lão – Nghĩa Dân industrial cluster project on an area of 75ha, with a capital of VND 915 billion. In addition, the company is also cooperating to invest in the construction of adjacent housing for sale, supermarkets, restaurants, and TTT Kindergarten in Khoai Chau district, Hung Yen province.
Pham Ngũ Lão – Nghĩa Dân industrial cluster project. Source: HMS
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