On October 30, the People’s Committee of Gia Lai Province approved the selection of investors for the Phu Hoa Lake Urban – Tourism – Culture – Sports Area project (abbreviated as Phu Hoa Lake Urban Area, located in Quy Nhon Bac, Quy Nhon Nam, and Quy Nhon wards). The project boasts a total investment of over VND 21.9 trillion and spans nearly 280 hectares.
Panoramic view of the Phu Hoa Lake Urban Area in Quy Nhon Bac, Quy Nhon Nam, and Quy Nhon wards (Gia Lai Province) after a decade of abandonment.
According to the decision, the consortium comprising Geleximco Group, Glexhomes JSC, Phuc Loc JSC, and CIENCO 8 has been selected as the investor for the Phu Hoa Lake Urban Area project.
The project is envisioned as a modern, integrated urban area, blending tourism, sports, and cultural spaces. The Phu Hoa Lake Urban Area includes various components: low-rise residential areas, commercial apartments, social housing, public facilities, services, tourism, education, healthcare, sports, along with transportation systems, parking lots, green parks, and an ecological lake. It is expected to accommodate approximately 34,500 residents.
The total investment for the project exceeds VND 21.9 trillion, with land clearance costs amounting to over VND 1.161 trillion. Phase 1 (2025–2028) will focus on land clearance and infrastructure development for the social housing area; Phase 2 (2028–2040) will complete all infrastructure, commercial, service, and tourism facilities for operation.
Abandoned machinery and equipment, rusted and deteriorated, within the project site after 10 years.
The People’s Committee of Gia Lai Province emphasizes that the Phu Hoa Lake Urban Area is a key project to realize urban development goals for the 2020–2035 period. It also contributes to the housing development program by 2025, driving socio-economic growth in Gia Lai’s central region.
After nearly a decade of neglect, the massive Phu Hoa Lake site, located in the heart of Quy Nhon’s coastal city, saw the final procedures completed by Gia Lai Province’s People’s Committee on June 30 to conduct an open tender and select a new investor.
Residents near Phu Hoa Lake endure dilapidated homes, unable to renovate due to the project’s suspension for nearly 10 years.
In 2013, Phuc Loc Group JSC (Ninh Binh) proposed investing in two projects: the extension of Dien Bien Phu Street and the upgrade of Phu Hoa Lake’s drainage system in Quy Nhon City under a Build-Transfer (BT) contract. In return, Binh Dinh Province would use the Phu Hoa Lake Urban – Tourism – Culture – Sports Area project as a counterpart asset.
In July 2015, the Phu Hoa Lake Urban – Tourism – Culture – Sports Area project was launched with a total planned area of nearly 320 hectares; the investment area covered approximately 286 hectares. The project was located in Nhon Phu, Quang Trung, and Ngo May wards.
After nearly a decade, the project, with an investment of over VND 5 trillion, remains a vast wasteland with a dilapidated construction site, significantly impacting local residents’ lives.
The entire infrastructure system within the prime land area, lacking management, has become severely degraded and unsightly.
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