The People’s Committee has granted permission for Thien An JSC to continue land use for 24 months from the date of termination of the investment project as stipulated by investment laws (from April 18, 2025, to April 18, 2027).
Within this 24-month period, Thien An Company is responsible for handling assets attached to the land as per regulations. If the company fails to complete the handling of these assets by the deadline of April 18, 2027, the state will revoke the land without providing compensation for either the land or the attached assets.
The project encompasses an area of over 78.3 hectares, featuring 18 holes, a cluster of villas for relaxation, and several auxiliary constructions. The total investment capital amounts to VND 1,885 billion.
Project commencement ceremony back in 2020.
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The project initially received its investment certificate in 2007 and underwent multiple adjustments to its timeline, most recently in 2021, with completion scheduled for 2023.
In 2022, the Government Inspectorate uncovered delays in the land acquisition, approval, and compensation payment processes, which spanned nearly four years. There were also repeated redesign adjustments, particularly with the 1/500 planning approval, leading to timeline discrepancies and subsequent requests for deadline extensions.
More than 58 hectares of land have been compensated for and granted land-use rights certificates, while the remaining nearly 20 hectares are in the process of finalizing land lease procedures.
In mid-2023, Thien An Company pledged to finalize the entire project by December 2025.
Established in 2006, Thien An Company was initially chaired by Mr. Hoang Ngoc Nhat. In 2019, Mr. Dinh Truong Chinh, former Director of Vietnam Hân Trading and Advertising Construction Company and ex-Chairman of Housing Development and Trading Joint Stock Company (HDTC), assumed the role of Chairman. As of January 2024, Mr. Ho Thinh replaced Mr. Chinh and currently holds this position. The company’s chartered capital stands at VND 500 billion.
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