According to a report from the Department of Agriculture and Environment of Lam Dong province, the southeastern region of the province currently has 14 projects for tourism areas, urban areas, commercial housing, industrial parks, etc. that are looking for land valuation units. Of these, 8 tourism projects are facing difficulties.
Business in a dilemma
Delays in land valuation have made it impossible for businesses to pay land use fees or land leases, and thus unable to continue implementing construction projects as planned. This situation has seriously affected investment progress, disbursement and the overall development of the area.
The 8 specific stuck projects include 1 project where the consulting unit is conducting land valuation, which is Hon Rom Hill; 2 projects are selecting consulting units, which are Royal Ruby Villa and Ocean Valley; 2 projects stuck in planning, which are Honey Beach and Hoa Sen; 3 projects expected to be removed from the list, which are NDMREAL, Tan Dai Duong and De La Gi. In addition, the nearly 1,000-hectare NovaWorld Phan Thiet super project invested by Delta-Valley Binh Thuan Company Limited (a member of Novaland Group) has also been struggling to implement land valuation for many years.
Before the merger, the People's Committee of Binh Thuan province said that there were dozens of projects that had not yet determined specific land prices. This delay not only caused a waste of social resources, but also hindered local development.
The issue is further complicated by legal changes. Since Decree 71/2024/ND-CP (regulations on land prices, effective from August 1, 2024), the land valuation process has been divided into two directions. For projects that lease land with annual payments, the province can apply the K coefficient method - that is, multiplying the land price in the price list with the adjustment coefficient to determine a specific price, simpler and faster. However, projects that switch to land lease with one-time payment for the entire lease term must apply complex methods such as surplus, comparison, income, etc. These methods require complete legal documents, rich market data and hiring an external consulting unit.
In reality, there are very few consulting firms that are qualified to carry out valuation dossiers as required. Many consulting firms are afraid of legal risks or offer high quotes, making the selection process difficult. Even when a suitable unit has been selected, the process of preparing and appraising dossiers is lengthy because it involves many departments and branches.
Lessons from NovaWorld Phan Thiet
A typical example of this situation is the Ocean Valley Tourism Complex project in Tien Thanh ward, Lam Dong province. The project, with the commercial name NovaWorld Phan Thiet, has many items in the tourist area that have been put into operation, some are under construction and according to plan, the entire project will be completed by the end of 2028. However, the change in land use form from annual lease to one-time lease for the entire period has forced the project to wait for the determination of specific land prices to fulfill financial obligations. It is expected that the entire project will be completed by the end of 2028.
NovaWorld Phan Thiet project has an area of over 986 hectares. To date, the investor has handed over more than 1,300 out of a total of more than 8,000 real estate products to customers.
Mr. Nguyen Minh, Vice Chairman of Lam Dong Provincial People's Committee, said that up to now, the difficulties and problems of the NovaWorld Phan Thiet project have been basically resolved.
Mr. Minh proposed that the Department of Finance advise the Provincial People's Committee to establish a Council for appraising specific land prices and a working group in July 2025.
Previously, on June 27, 2025, the NovaWorld Phan Thiet project was permitted by the Provincial People's Committee to change the land use form to one-time land lease. Currently, the Department of Agriculture and Environment is implementing the cost estimate and selecting a consulting unit to determine the specific land price, as a basis for collecting one-time land lease fees for this project.
Regarding the specific land valuation of projects in the Southeast of the province, Mr. Nguyen Minh requested the Department of Agriculture and Environment to urgently review and summarize the contents related to the process, procedures, and steps that need to be implemented according to legal regulations. In particular, it is urgent to request relevant departments, branches, and localities to provide documents; ensure the implementation of all work related to the determination of specific land prices that have been determined.
Mr. Minh also requested to calculate all the work, submit to the Provincial People's Committee for approval of the budget estimate for the consultancy package to determine specific land prices. Actively and proactively contact units to select consulting units, proactively send notices inviting units to participate in determining land prices for projects.
Don't waste investment resources
According to Lam Dong Provincial People's Committee, in recent years, the Southeast region of the province has had more than 40 projects whose land prices have not been determined, wasting investment resources and social resources. Thanks to the locality's determination, up to now, 21 more projects have calculated land prices to fulfill financial obligations, serving as a basis for implementing the next steps.
Source: https://baolamdong.vn/go-nut-that-dinh-gia-dat-vung-ven-bien-lam-dong-383974.html
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