In 2015, Mrs. Truong My Lan, through MINERVA Joint Stock Company, purchased this villa for USD 35 million (equivalent to around VND 700 billion). After the purchase, she restored the villa to its original condition in 2019. As the villa is part of the heritage list, the owner is only allowed to renovate and repair it without any new construction. After Mrs. Truong My Lan was prosecuted and detained, the construction work was halted.
During the court hearing on March 15, when asked about the resolution of the real estate properties involved in the case, including this vintage villa, the defendant, Truong My Lan, argued that the villa is a historic property that requires restoration and preservation. She requested that the court does not seize the villa and return it to her family. Furthermore, her daughter has been working on the restoration process for the past 5 years, which is still incomplete.
Up close with a 700 billion VND ancient mansion that Truong My Lan refuses to list
The renovation of a $700 billion villa has been put on hold due to the arrest of Truong My Lan. During the court hearing on March 15th, Ms. Lan requested not to include this villa as evidence.