Vingroup's Can Gio sea encroachment project approved for land price of over 27,300 billion VND

Vingroup - Photo 1.

Construction site of the coastal urban tourism project in Can Gio today - Photo: NGOC HIEN

The Ho Chi Minh City People's Committee has just issued Decision No. 3429 on approving land prices for the coastal urban area project in Long Hoa commune and Can Thanh town, Can Gio district (old), invested by Can Gio Urban Tourism Joint Stock Company (under Vingroup Group).

Accordingly, the total amount that the investor must fulfill financial obligations with the approved land price is more than 27,300 billion VND.

The approved land price is the basis for the investor, Can Gio Urban Tourism Joint Stock Company, to fulfill its financial obligations to the State, and is the legal basis for the next procedures in project construction.

In addition to the Can Gio coastal urban area project, the Thu Thiem Eco Smart complex project (Lotte Eco Smart City) of Lotte Group (Korea) has been approved for land price of 16,190 billion VND.

In addition to the two major projects above, Ho Chi Minh City also approved land prices for 7 other projects with a total land value of more than 8,500 billion VND.

The coastal urban tourism project in Can Gio, with the commercial name Vinhomes Green Paradise, was inaugurated by Vingroup on April 19. The project is built on a total area of 2,870 hectares.

After the groundbreaking ceremony, the investor also started construction of the sea reclamation items. Tuoi Tre Online ’s records these days show that many machines, equipment and human resources of the contractor… are speeding up the project development.

Ho Chi Minh City's land revenue is estimated at over 65,319 billion VND.

In the first 6 months of the year, the total budget revenue from land in Ho Chi Minh City (before the merger) was estimated at over VND65,319 billion. In addition to the 9 major projects mentioned above, the revenue realized in the first 6 months was over VND12,720 billion from land use fees, land rent, water surface rent, and real estate transfer revenue.

According to statistics, land revenue of Ho Chi Minh City has reached 90.72% of the target assigned in 2025 of 72,000 billion VND.

Vingroup - Photo 2.