Sun Group Wins Bid for Vung Tau Urban Area Project
A 60-hectare urban area project in Wards 10 and 11 of Vung Tau city was recently auctioned off on April 26. The successful bidder was Sun Group’s subsidiary, Vung Tau Urban Investment and Development Company, with a bid of over VND 7,728 billion.
The Vung Tau Urban Investment and Development Company has since submitted a report to the Ba Ria-Vung Tau Provincial Party Committee on the progress of the urban area project on 3 Thang 2 Street.
Site plan for the 3 Thang 2 Street urban area project
Sun Group has also registered to work with the Provincial Party Committee on the project’s commencement, scheduled for May 16, and proposed several new projects in the province.
The provincial government had previously approved the investment policy for this project, aiming to develop a commercial and tourism-oriented urban area integrated with eco-friendly natural spaces. The project is expected to showcase a smart and modern urban area, adhering to the approved detailed planning and the province’s development orientation.
The total investment cost for the project is estimated at VND 35,000 billion, with a 50-year operation period from the date of land allocation and lease by the province.
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