The Capital Gains a New Skyscraper in the Model Urban Area

Vinaconex to Develop a New Office Building Project in Hanoi

The Hanoi People’s Committee has issued a decision to amend Decision No. 5096 dated November 7, 2012. Accordingly, the purpose of the land use has been adjusted from a Center for High-end Fashion and Traditional Craft Services to the Vinaconex Office Building Project.

In addition, the land use duration has been extended from 40 years, counting from June 13, 2000, to 50 years, starting from January 15, 2025. The land use form is annual land rent payment.

According to the Hanoi People’s Committee, the adjustment was made due to their decision to approve the investment proposal and select Vinaconex as the investor on January 15, 2025.

The land rent will be determined based on the current regulations of the Ministry of Finance and the Hanoi People’s Committee.

Other contents mentioned in Decision No. 5096 dated November 7, 2012, of the Hanoi People’s Committee remain valid.

The Hanoi People’s Committee assigns Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) to coordinate with the Department of Agriculture and Environment to complete procedures for land rent cost determination, land lease agreement adjustment, and obtain necessary permits regarding the environment and land use rights in accordance with regulations.

Vinaconex is also responsible for contacting the Area I Tax Department to declare and pay land rent, non-agricultural land use tax, and other financial obligations (if any) annually as prescribed.

Vinaconex must comply with laws on land management and use, ensure environmental sanitation, and adhere to fire prevention and fighting regulations as stipulated in the Vietnam Construction Standards. Changing the purpose of land use is not permitted without authorization from the Hanoi People’s Committee.

The Hanoi People’s Committee also assigns the Departments of Agriculture and Environment, Finance, Planning and Architecture, Construction, and other related departments, as well as Area I Tax Department, to perform their respective functions and tasks to inspect and guide Vinaconex in fulfilling its obligations as a land user.

The Hanoi Land Registration Office is responsible for updating and adjusting land and asset-attached-to-land information in the land registry in a timely manner.

The People’s Committee of Thanh Xuan District and Nhan Chinh Ward are assigned to regularly inspect Vinaconex’s land use in accordance with the contents specified in this Decision, promptly detect and handle violations within their authority, and report to the Hanoi People’s Committee.