According to an announcement on September 29, 2025, the People’s Committee of Lam Dong Province stated that land reclamation from Saigon Construction and Trade Investment Company Limited was due to violations of land laws under Clause 8, Article 81, of the 2024 Land Law.
Previously, this area had been approved by the former Lam Dong Provincial People’s Committee for a change in land use purpose to develop the Da Lat Flower Valley residential project. Despite extensions granted for land utilization, the project remains inactive.
The Provincial People’s Committee has mandated that within 45 days from September 29, Saigon Construction and Trade Investment Company Limited must independently manage asset disposal on the land. Failure to comply will result in the province issuing a land reclamation decision as per regulations.
Over 13 Years of Inactivity
The project site, located on Dang Thai Than Street, Ward 3, Da Lat City (now Ward Xuan Huong), spans over 1.5 hectares. It received an investment certificate in early 2012 with an initial capital of over 266 billion VND, later adjusted to 113 billion VND.
The project was slated for completion in 2015 but remains stalled despite multiple extensions, with only land clearing completed to date.
Situated on high ground overlooking a residential area, the land clearing process previously raised concerns among residents of Alley 2, Dang Thai Than Street, regarding potential landslides and risks to property and safety. In 2023, the former Da Lat City People’s Committee ordered a halt to construction at elevated sites pending assessment and mitigation measures.
Da Lat Flower Valley Project Site
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Clarification Requested on Proposed Timeline Adjustment for Da Lat Flower Valley Project
Who is Saigon Construction and Trade Investment Company Limited?
Established in 2002 and headquartered in Ho Chi Minh City, Saigon Construction and Trade Investment Company Limited primarily operates in the short-term accommodation sector.
As of April 2017, the company had a registered capital of 350 billion VND. Its shareholders included Ms. Nguyen Thi Ngoc Anh (50%), Mr. Nguyen Minh Hoang (45%, also serving as Chairman and legal representative), and Mr. Nguyen Kim Duc (5%). Notably, Mr. Hoang and Ms. Anh share the same residential address in Ward Linh Dong, former Thu Duc District.
In September 2019, the company reduced its registered capital to 318.5 billion VND, with Ms. Anh increasing her stake to 54.95% and Mr. Duc’s share dropping to 0.05%. Mr. Hoang’s holdings remained unchanged. By late 2020, the capital was further reduced to 293.4 billion VND.
In February 2023, the Ho Chi Minh City Police Investigation Agency requested the Lam Dong Provincial People’s Committee to provide evidence and documents related to an investigation into alleged fraud involving Saigon Construction and Trade Investment Company Limited.
The agency sought comprehensive project documentation for the Da Lat Flower Valley residential area, including land origins, legal status, implementation progress, and investor violations.
To support the investigation, the agency also requested a temporary halt to transactions (such as land ownership transfers, mortgages, authorizations, donations, or gifts) involving plots 39, 40, 41, and 42 on map sheet 27 in Ward 3, Da Lat City, as well as land use rights held by Saigon Construction and Trade Investment Company Limited and associated entities or individuals.
– 14:35 01/12/2025
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