The People’s Committee of Ba Ria-Vung Tau province plans to inaugurate the construction of the Urban Area on February 3 Road project on May 16. This urban area, spanning nearly 60 hectares in Ward 10 and Ward 11 of Vung Tau city, was recently auctioned on April 26, with a starting price of over VND 7,600 billion. The auction was won by Vung Tau Urban Investment and Development Company with a bid of over VND 7,728 billion.
The site being prepared for the inauguration ceremony
Two days later, the People’s Committee of Ba Ria-Vung Tau province issued a decision approving the auction results, confirming Vung Tau Urban Investment and Development Company as the winner.
Recently, Vung Tau Urban Investment and Development Company sent a report to the Provincial Party Committee of Ba Ria-Vung Tau on the progress of the Urban Area on February 3 Road project. According to our sources, Vung Tau Urban Investment and Development Company (headquartered in Vung Tau city) is a member of Sun Group.
Prime location adjacent to the sea and major roads in Vung Tau city
VIDEO: Overview of the site slated for urban development
Sun Group also registered to work with the Provincial Party Committee of Ba Ria-Vung Tau on the progress of the Urban Area on February 3 Road project, which is slated to commence construction on May 16. They also proposed several new projects in the province. The expected attendees from Sun Group include senior leaders and members from the Southern region.
Detailed planning of the Urban Area on February 3 Road
The above report was signed by Mr. Bui Thanh Trung, in his capacity as Chairman of the Members’ Council of Vung Tau Urban Investment and Development Company. Currently, within Sun Group, Mr. Bui Thanh Trung holds the position of Chairman of the Southern Region.
Previously, this site was approved by the People’s Committee of Ba Ria-Vung Tau province for investment in the Urban Area on February 3 Road project. The project aims to develop a commercial and tourism-oriented urban area, integrated with natural ecology, reflecting the image of a smart and modern city, in compliance with the approved detailed planning and the province’s development orientation.
The total investment cost for the project is estimated at VND 35,000 billion, and the project duration is 50 years from the date of land allocation or lease by the province.
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