The Ninh Binh Provincial People’s Committee in northern Vietnam has issued Decision No. 478, officially leasing land to Muong Thanh Group JSC for the implementation of the "North Hong Phu Bridge Commercial and Service Area" project.
The project is situated on a prime plot of land covering more than 12,500 sq.m. It boasts a strategic location, bordered by Le Hoan Street (National Highway 1A) to the east, Ngo Quyen Street to the west, the Hong Phu Bridge access road to the south, and existing residential traffic routes to the north. This area is considered a vital transportation hub with high potential for commercial and service growth.
According to the approved plan, the project has a total estimated investment of over VND575 billion (nearly $22 milion). The development will feature a commercial and service building reaching a maximum height of 27 stories, with a building density of 35%. The project will also include a synchronized and modern technical infrastructure system.
Previously, the starting auction price for the land use rights was set at nearly VND585 billion. The Ninh Binh Asset Auction Service Center had announced the second auction for this project in late 2024 to find a qualified investor.
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