The project spans over 49.5 hectares and received detailed construction planning approval with a 1/500 scale from the Dong Son District People’s Committee in May 2023.
The current status of the planned project land includes 452,886 m2 of rice land, 25,519 m2 of specialized water surface area (aquaculture), 204 m2 of cemetery land, existing sports field land, power company headquarters land, road infrastructure, and 16,421 m2 of inland dike and canal land.
The project’s investment capital exceeds VND 4,939 billion, including an estimated implementation cost of VND 4,827 billion and a compensation and resettlement support cost of nearly VND 112 billion. The selected investor must mobilize 100% legal capital sources to implement the project as regulated.
The preliminary product structure comprises 64 commercial houses, 165 adjacent houses, 2 villas, 2,356 social housing units in the form of completed apartments (planned), 607 adjacent land lots, and 90 commercial villa land lots transferred in the form of subdivided land plots. Additionally, there are social housing structures (SH-01, SH-02), a commercial and service center, cultural houses (CH-01, CH-02), and a multi-level school, among other facilities.
The project’s operational duration is 50 years from the date the investor receives the land allocation, land lease, or land use purpose conversion decision. The project implementation timeline must not exceed five years.
 Urban Area No. 01, Rừng Thông Town, Thanh Hóa. Source: BXD
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The People’s Committee approved the investment policy for the new urban area project No. 01 in Rừng Thông Town in May, calling for investment in early June. This period also witnessed leadership and charter capital changes among the three enterprises in the joint venture.
Landmark Real Estate Investment and Construction Joint Stock Company (Landmark Real Estate), established in 2021 in Thanh Hoa with a primary focus on residential construction, had an initial charter capital of VND 300 billion. The founding shareholders included Ms. Nguyen Thi Huong, who held the position of Chairwoman of the Board of Directors and legal representative with a 50% contribution, Mr. Nguyen Cong Dong, Director and legal representative with a 30% contribution, and Mr. Bui Quang Dong with a 20% contribution. In October 2023, Ms. Huong transferred her position to Mr. Nguyen Ba Dong. In March 2024, the company increased its capital to VND 430 billion, with Mr. Nguyen Cong Dong as the current Chairman of the Board of Directors and legal representative.
Ben Thanh Investment and Tourism Development Joint Stock Company, founded in June 2021 in Ho Chi Minh City, primarily operates in the tourism agency sector. With a charter capital of VND 300 billion, the founding shareholders from other provinces and cities included Mr. Nguyen Van Chien, who served as Chairman of the Board of Directors and legal representative with a 50% contribution, Mr. Dinh Trong Ngoc, Director and legal representative with a 30% contribution, and Mr. Nguyen Ba Dong with a 20% contribution. On June 26, Mr. Ngoc replaced Mr. Chien as Chairman of the Board of Directors and legal representative.
Vietnam Agrico Investment and Construction Joint Stock Company (Vietnam Agrico), established in February 2022 in Hanoi under the initial name of Vietnam Agrico Agricultural Investment Joint Stock Company, primarily engages in wholesale trading of agricultural, forestry, and aquatic products. Vietnam Agrico shares a founding shareholder with Landmark Real Estate. Specifically, with a charter capital of VND 50 billion, Ms. Truong Thi Yen contributed 80%, while Mr. Bui Quang Dong and Mr. Nguyen Cong Dong each contributed 10%. In April of this year, the company changed its name to the current one, with Mr. Dong serving as Chairman of the Board of Directors and legal representative. A month later, the company increased its capital to VND 150 billion, and Mr. Dam Canh Them assumed the position from Mr. Dong.
On July 8, the Thanh Hoa Province Planning and Investment Department announced the results of the project participation registration, and the position of Chairman of the Board of Directors and legal representative of Vietnam Agrico continued to change to Mr. Ngo Van Dich. Mr. Dich is known to be an automotive and airport construction engineer.
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