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The People’s Committee of Khanh Hoa province has recently approved the selection of investors for the Cam Lam New Urban Area project.
The winning bidder is the Cam Lam New Urban Joint Stock Company, a consortium of prominent real estate companies: Vinhomes Joint Stock Company, Phat Dat Real Estate Investment and Development Company Limited, Truong Loc Real Estate Investment and Development Company Limited, Green City Commerce and Construction Joint Stock Company, and Phu Tho Land Joint Stock Company.
Earlier, in March, the Prime Minister issued a decision approving in principle the investment policy for the Cam Lam New Urban Area project in Cam Lam district.
Spanning almost 10,400 hectares across multiple wards and communes in Cam Lam district and Cam Ranh city, the Cam Lam New Urban Area is approximately 20 times the size of Hanoi’s Hoan Kiem district (529 hectares).
With a preliminary investment of VND 260,200 billion (over USD 10 billion), excluding compensation and resettlement costs estimated at VND 25,000 billion, the project encompasses a diverse range of residential options, including over 58,000 villas and adjacent houses, more than 9,800 apartments, 33,000 social housing units, approximately 58,500 land plots, a 36-hole golf course, and more. The project is expected to accommodate a population of around 584,000 people.
Scheduled for completion between 2025 and 2037, the new urban area will serve as a regional hub, encompassing administrative, political, financial, commercial, cultural exchange, educational, and innovative functions.
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