Central province seeks investors for $48 mln urban area

The central province of Quang Binh is seeking investors for its VND1,200 billion ($48 million) Ly Trach New Urban Area Project in Bo Trach district.

The province’s Department of Planning and Investment is inviting prospective investors to register for the project.

The project carries a preliminary implementation estimate of VND1,185 billion ($47.46 million); of which compensation and resettlement support costs are estimated at VND16 billion ($640,879). The project land area is approximately 19.9 hectares.

Investment is need for building and completing all technical infrastructure works within the scope of project implementation in accordance with authorized detailed plans.

This includes the completion of a commercial and service project with a built up floor area of around 0.6 hectares and a height of roughly three stories as well as a cultural housing project.

The housing segment will include a 12-story apartment complex with a construction floor area of around 5.5 hectares, totaling approximately 398 flats.

The works have to be completed within six years of the decision approving investor selection.

The deadline for investors to submit applications is 4:00 p.m., May 18, 2024.

The Department of Planning and Investment had previously invited interested investors to submit registration documents for other urban area projects in the province, including the upmarket Quan Hau (Quan Hau town, Quang Ninh district) with a total investment of VND798 billion ($32 million).

Another urban area project is planned to the west of Phan Huy Chu street in Dong Phu ward, Dong Hoi town. The project has an estimated investment value of VND998 billion ($40 million) and a total land area of 89,462 m2.

Another project that has invited prospective investors is a 2.7 hectare plus, VND420 billion ($16.8 million) urban complex to the north of the park in the center of Dong Hoi town in Dong Phu Ward.