“Unveiling the Preschool’s Worth: The ‘Aluminum Baron’ Affair”

On March 20, the Danang Center for Land Fund Development under the Department of Agriculture and Environment of Danang City announced an invitation to participate in the assessment of the remaining quality of the works and determination of the value of assets on the land for the works at 908 Ngo Quyen Street, An Hai Bac Ward, Son Tra District, Danang City, known as ABC Kindergarten.

Specifically, the Danang Center for Land Fund Development invited a unit to assess the remaining quality of the works on the land (ABC Kindergarten) and, at the same time, determine the value of assets on the land (ABC Kindergarten) at 908 Ngo Quyen Street, An Hai Bac Ward, Son Tra District.

The kindergarten was granted a construction permit to a company belonging to Phan Van Anh Vu (also known as Vu Nhom) for land lease purposes.

The land lot with ABC Kindergarten, involved in the case of Phan Van Anh Vu, was declared in the appellate verdict No. 346 dated June 13, 2019, of the Hanoi Court of Appeals. Since May 2016, Phan Van Anh Vu has leased this land lot to I.V.C Limited Company at a price of VND 30 million/month for investment, construction, and business of ABC Kindergarten. The investigation agency’s seizure order seized all assets, including land use rights, ownership of houses, and other assets attached to the land.

However, in reality, ABC Kindergarten is still operating normally, with about 200 students and about 40 staff and teachers. The verdict only stated the transfer of land use rights without mentioning the handling of assets on the land, leading to difficulties in actually handing over the land to the Danang People’s Committee…

Regarding this land lot, previously, the Danang People’s Committee assigned the Son Tra District People’s Committee and the Department of Construction to implement procedures for adjusting the planning subdivision to suit the implementation of the land-use right auction. The Son Tra District People’s Committee is in charge of carrying out procedures in the order prescribed in Article 51 of the 2009 Urban Planning Law so that the competent authority can adjust the local planning subdivision from “kindergarten land” to “commercial service land” for land-use right auction as prescribed.

At the same time, the Land Fund Development Center has also sent documents to IVC Company, the Department of Construction, and the Investigation Police Agency – Ministry of Public Security to collect the project’s drawings, project settlement records, construction time, and time of putting the project into use, and other related documents (if any) at the 3,264m2 land lot on Ngo Quyen Street, An Hai Bac Ward, Son Tra District, as a basis for determining the remaining value on the land.

The Department of Natural Resources and Environment has also organized a meeting to agree on the land use purpose and the time limit of 50 years for the Land Fund Development Center to have a basis for submitting to the competent state agency the procedures for auctioning the land use right. It is expected to be completed in the second quarter of 2025.