The Hanoi People’s Committee recently issued Decision No. 5438/QĐ-UBND, allocating 170,912.1 m² of land (Phase 1) in Quang Minh Commune to C.E.O International LLC for the development of the CEO Me Linh New Urban Area project.
According to the confirmation from the Quang Minh Commune People’s Committee in Document No. 184/UBND-KT dated August 1, 2025, the aforementioned land area has completed land clearance procedures.
The total land area of 170,912.1 m² includes: 61,110.9 m² of residential land, comprising 26 adjacent lots and villa plots BT01, along with two mixed-use lots CT01 and CT02; and 15,910.9 m² designated for social housing (plots NOXH02, NOXH03, NOXH04).
For the above two land portions, the state allocates land with land use fees, granting the investor a usage period until July 18, 2058. Homebuyers, however, will enjoy perpetual and stable land use rights as per current regulations.
Additionally, 93,890.3 m² is allocated for green spaces and transportation infrastructure. C.E.O International LLC is responsible for synchronously developing approved infrastructure works and handing them over to local authorities for management.
Notably, the land allocation was granted without a land use rights auction or investor selection tender. This method applies to previously approved projects resuming after prolonged legal formalization delays.
The Hanoi People’s Committee requires C.E.O International LLC to collaborate with the Department of Agriculture and Environment to determine land prices, fulfill financial obligations, and receive boundary demarcation on maps and at the site. Upon completion, the company will be guided to obtain the Land Use Rights and Ownership Certificate for assets attached to the land.
Importantly, the investor is prohibited from transferring or changing the project’s implementing entity without written approval from the Hanoi People’s Committee.
Rendering of the CEOHomes Hana Garden Urban Area. Photo: CEO Group
The project to construct technical infrastructure and adjacent housing, villas within the CEO Me Linh New Urban Area has a total investment of nearly VND 2,282 billion. It is being developed in Me Linh, Dai Thinh, Trang Viet, and Van Khe communes, Me Linh District, Hanoi (now Quang Minh Commune, Hanoi).
C.E.O International LLC is a wholly-owned subsidiary of CEO Group Joint Stock Company (CEO Group, stock code: CEO, HNX).
In related developments, on October 23, CEO Group approved a plan to borrow nearly VND 1,287 billion from the Thanh Xuan branch of the Bank for Investment and Development of Vietnam (BIDV).
The loan aims to cover legal expenses, issue guarantees, and open letters of credit for the CEO Me Linh New Urban Area project’s technical infrastructure and adjacent housing, villas. This includes interest during construction, calculated within the project’s total investment.
The loan is secured by all assets owned or used by CEO International LLC, formed from the BIDV Thanh Xuan branch’s capital.
CEO Group commits to maintaining at least 65% equity in CEO International LLC throughout the loan period. If the group transfers equity, reducing ownership below 65%, such transactions require project sales, sufficient equity contribution by CEO International LLC, and written bank approval.
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