Breaking News: Saigon Dai Ninh Project Updates Linked to Tycoon Nguyen Cao Tri

The entire 1,428-hectare land area previously allocated to Sai Gon Dai Ninh Tourism and Investment Joint Stock Company has been officially reclaimed by the People’s Committee of Lam Dong Province. This decision stems from the company’s violations of land laws and prolonged delays in developing the planned urban area over several years.

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On January 13th, Vice Chairman of Lam Dong Provincial People’s Committee, Le Trong Yen, signed a decision to reclaim the entire land area previously allocated, leased, and permitted to Sai Gon Dai Ninh Tourism Investment Joint Stock Company for land use conversion due to violations of land laws in the Dai Ninh Urban, Commercial, Tourism, and Eco-Resort project (hereinafter referred to as the Sai Gon Dai Ninh project).

The reclaimed land area, as per legal documents, is 1,428.356 hectares, with an actual area of nearly 1,435 hectares—an increase of over 6 hectares due to recalculations. The land is located in Duc Trong, Ninh Gia, and Ta Hine communes.

Abandoned and incomplete constructions at the Sai Gon Dai Ninh project. Photo: Hoang Giam

According to the decision, the reason for the reclamation is that Sai Gon Dai Ninh Tourism Investment Joint Stock Company violated land laws as stipulated in point i, clause 1, Article 64 of the 2013 Land Law (now clause 8, Article 81 of the 2024 Land Law) and failed to utilize the land despite receiving extensions.

The Lam Dong Provincial People’s Committee has assigned the Duc Trong Protective Forest Management Board and the Provincial Land Fund Development Center to manage the reclaimed land.

Sai Gon Dai Ninh Tourism Investment Joint Stock Company is required to comply with the land reclamation decision, hand over the land and land use documents to the competent authorities, and settle any outstanding financial obligations and any arising financial obligations as per the law (if applicable).

If the company fails to comply with the land reclamation decision, it will be subject to forced execution as per regulations.

The Sai Gon Dai Ninh project was granted an investment certificate by the Lam Dong Provincial People’s Committee in 2010, with a total investment of over 25 trillion VND, making it a mega-project in the locality.

According to the plan, the project was to be implemented from 2010 to 2018. However, to date, only about 20km of internal roads and some other components have been constructed, with an investment of approximately 2,296 billion VND.

In June 2020, the Government Inspectorate concluded that the project had land and investment violations and requested the termination of activities and land reclamation.

In July 2021, the Government Inspectorate adjusted some contents, suggesting that the locality guide the enterprise to carry out procedures for extending the project timeline, adjusting the project according to the 2014 Investment Law, extending land use according to the 2013 Land Law, and urgently implementing the project as approved.

Related to the Sai Gon Dai Ninh project, from 2023 to 2024, several high-ranking inspection officials and former secretaries and chairmen of Lam Dong Province were arrested for Abuse of Power and Bribery, and have since been sentenced to prison.

In this case, Nguyen Cao Tri, General Director of Sai Gon Dai Ninh Company, was proposed for prosecution for Bribery. The amount of bribery was determined to be 7.05 billion VND.

Quang Hung

– 15:51 13/01/2026

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