Authorities of northern Hai Phong port city have approved three companies to implement a pilot program on commercial housing project development through agreements on land-use rights transfers or on land already under legal use rights, in line with the National Assembly’s resolution.
The approved firms are Petrol Transportation and Petroleum Supply JSC, Hai Phong Import-Export Trading JSC, and Thanh Dong Real Estate JSC.
Petrol Transportation and Petroleum Supply JSC has been authorized to develop a commercial housing project on a 5,440-sq.m site at 64-66 Tran Khanh Du Street in Ngo Quyen Ward. The project carries an estimated investment capital of VND75.76 billion (approximately $2.9 million).
Meanwhile, Hai Phong Import-Export Trading JSC received approval for a larger commercial housing development on a 26,108-sq.m land plot at 746 Nguyen Van Linh Street in An Bien Ward, with total projected investment estimated at VND1.075 trillion (around $41 million).
Thanh Dong Real Estate JSC was approved to develop a commercial housing project on a site spanning more than 30,648 square meters in Chu Van An Ward. More than 26,858 sq.m of the land area is currently designated for rice cultivation. The project’s estimated investment capital stands at VND136 billion ($5.17 million).
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