The provincial People’s Council’s resolution on November 11 included the Nha Trang mixed-use urban area in the list of projects for which land must be revoked. The project is located in Vinh Thai commune and Phuoc Long ward, Nha Trang city, with an area of over 226.7 hectares of land to be revoked.
Project’s planned location. Source: Khanh Hoa Newspaper
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According to the provincial People’s Council’s resolution, the Nha Trang mixed-use urban area project will be open for investors through a bidding process, scheduled for Q4/2024 to Q1/2025. The provincial Planning and Investment Department will be the agency in charge of the investor selection bidding process.
On November 12, the People’s Committee of Khanh Hoa province issued a decision approving the investment policy for the Nha Trang mixed-use urban area project in Vinh Thai commune and Phuoc Long ward. The project will be open for bidding to select investors.
The project aims to invest in the construction of a mixed-use urban area with a comprehensive range of functions, including technical infrastructure, commercial housing, and service, tourism, and resort facilities in the form of leasing, lease-purchase, or sale.
Additionally, the project will feature public works and services for residential and urban areas, such as schools, commercial centers, cultural houses, museums, and more. The project’s land use scale is approximately 226.7 hectares, with a planned population of 20,000 people. The total investment capital for the project is over VND 17,330 billion, including nearly VND 1,060 billion for site clearance costs. The project is expected to be implemented within six years, from Q4/2024 to Q4/2030. The operation duration of the project is 50 years.
The planned product mix includes 4,200 units and 1,500 social housing apartments (in the form of condominiums). Over 5.9 hectares of land is allocated for social housing development.
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