On the morning of December 13, the 21st session of the 10th-term People’s Council of Danang for the 2021-2026 tenure continued with an interrogation session directed at Ms. Tran Thi Thanh Tam, Director of the Department of Planning and Investment (DPI). Council member Nguyen Minh Huy inquired about the progress of handling three stagnant projects occupying prime land in the city center: Danang Center, Golden Square, and Diamond Square.
Regarding the Danang Center project, Ms. Tran Thi Thanh Tam shared that the DPI has introduced the project (of Vu Chau Long Real Estate Joint Stock Company) to several investors. However, none have agreed to a transfer or cooperation agreement with the company thus far.
According to Ms. Tam, the Chairman of the Danang People’s Committee has concluded that the project’s planning will be adjusted to allow Vu Chau Long Real Estate Joint Stock Company to continue its implementation.
The Danang Center project has become a polluted lake in the heart of Danang.
The DPI has requested the People’s Committee to direct relevant agencies to review the project’s legal aspects and advise on its continuation, considering the objectives and scale approved in 2008, and to identify any obstacles and propose solutions if necessary.
In the event that the project cannot proceed, the People’s Committee should organize a direct meeting with the investor to agree on a resolution, thus avoiding prolonged complaints and lawsuits.
Concerning the Golden Square project, the DPI Director informed that this project, belonging to Dong A Real Estate Joint Stock Company, was initially granted an investment certificate by the Danang People’s Committee in 2008. Based on the investor’s request to terminate the project, the DPI issued a notice of project termination.
On October 31, 2024, the Department of Natural Resources and Environment reported on the request for land-use right transfer and assets attached to the land at the Golden Square project by Dong A Real Estate Joint Stock Company, subject to the following conditions: the company must fulfill its financial obligations, including the amount of loss as per Conclusion 2852/2012 of the Government Inspectorate.
Dong A Real Estate Joint Stock Company must also resolve the dispute over the credit contract with Dong A Bank at the People’s Court of Phu Nhuan District, Ho Chi Minh City, and provide a commitment between the seller and the buyer that there will be no disputes or complaints related to the assets on the land after the transfer.
Dong A Bank and Dong A Real Estate Joint Stock Company have jointly petitioned the Danang People’s Committee, considering this an event of force majeure. This petition has been forwarded to the Department of Natural Resources and Environment for handling.
Golden Square, with an area of 10,664.0 m2, is located at the intersection of four streets: Pham Hong Thai, Nguyen Chi Thanh, Nguyen Thai Hoc, and Yen Bai.
As for the third project, Diamond Square, Ms. Tam provided information that the project, previously owned by Far East Vietnam Real Estate Joint Stock Company, was granted an investment certificate by the Danang People’s Committee in 2007. On November 14, 2019, the People’s Committee announced the termination of the project.
The land has been transferred to Kinh Bac Danang One-Member Limited Liability Company. The new investor has been issued a changed land-use right certificate, with the purpose of commercial and service land use.
Ms. Tam added that after Resolution 171/2024 of the National Assembly on the pilot implementation of commercial housing projects through agreement on the transfer of land-use rights or the use of land takes effect on January 1, 2025, the People’s Committee will submit to the People’s Council for approval the list of land plots expected for the pilot project.
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