Developing new urban areas in the two townships of Tu Trung and Vinh Tuong, Vinh Tuong district, Vinh Phuc province

06/05/2020

Vinh Phuc announces land - used project

The northern province of Vinh Phuc issued official information on a land - used investment project in Vinh Tuong district.

Project name: Developing new urban areas in the two townships of Tu Trung and Vinh Tuong, Vinh Tuong district, Vinh Phuc province.

Objectives: Developing new-style and modern urban areas with synchronous social and technical infrastructure system; meeting local housing demand and those for commercial, cultural and educational services and sports.

Investment scale: Project scale: 29,0208 ha; population size: some 5,000 people; six major types of land uses:

- Residential land covers a total of 125,517.3 m2. Of which, 66,891.1 m2 are allocated for semi-detached houses, 24,557.5 m2 are used for the residential land associated with commercial use, 24,062.2 m2 for villas, and 10,042.5 m2 for mixed residential land;

- Public land stretches 16,681.3 m2. Of which, 14,652.6 m2 are dedicated to developing educational facilities, 1,410.7 m2 are used for cultural facilities, and 618.0 m2 for medical establishments;

- Commercial land totals 1,384 m2;

- Land for green trees, water surface, sport and physical fitness facilities with a total area of 24,744.9m2. Of note, the land for green trees and flower gardens covers a total area of 13,361.5m2, including 2,798.8 m2 for isolated green land and 2,829.1 m2 for green space for sports and physical fitness facilities while the water surface stretches 5,755.5 m2;

- Land for focal technical infrastructure has a total area of 1,234 m2;

- Land used for internal transport infrastructure reaches 120,646.5 m2. Of which, the land for internal roads has a total area of 107,830.3 m2 while parking lot covers 12,816.2 m2.

Scale of construction investment:

-Investing in technical infrastructure items, including ground leveling, internal roads, clean water supply, rain-water and wastewaterdrainage systems, electricity supply and lighting systems,  telecommunication networks, and green trees.

- Investing in building social infrastructure items, includingschools, healthand cultural facilities, and five-storey shopping malls.

- Investing in housing units, including two 10-floor mixed-use housing facilities with one basement for parking, two six-floor mixed-use buildings with one basement, a cluster of low-rise houses which include 579 semi-detached units for housing only, 218 semi-detached units combined with commercial use, and 77 villas. The project investoris responsible for building houses as prescribed in the investment certificate granted by the Vinh Phuc provincial People’s Committee.

Preliminary costs for the project are estimated at VND1.668 trillion, encompassing the estimated ground clearance worth VND68.5 billion and that for other items reaching VND1.6 trillion.

There are some basic conditions required for the project.  Main requirements focus on building new urban areas coupled with synchronous social and technical infrastructure systems and contributing to perfecting the overall planning of Vinh Tuong and Tu Trung townships.

The investment capital comes from the investor’s equity and other legal capital sources. The capital could be mobilized from commercial banks and secondary investors in compliance with the current Lawon Real Estate Business and the Housing Law.

The project is scheduled to be completed after 60 months as from the date of the investor approved by the provincial authorities.

The requirements for location, land area, land use, and planning criteria are needed. Location for the project: Tu Trung and Vinh Tuong townships, Vinh Tuong district, Vinh Phuc province.

The planning criteria include the residential density of 23.09 m2/person, the green space at 2.67 m2/person (encompassing the area for sport facilities), the land for educational facilities at 2.93 m2/person, healthcare facilities stretching 618 m2, two culture houses, and the land for parking at 2.56 m2/person.

Shopping malls will be part of the mixed-use housing blocks and the shopping streets in Vinh Tuong and Tu Trung townships. More details are prescribed in the Decision No. 509/QD-UBND issued by the Vinh Phuc provincial People's Committee on March 13, 2020 and Decision No. 1010/QD-UBND issued by the Vinh Phuc provincial People's Committee on April 27, 2020.

The land allocated for the project is now mainly used for rice and subsidiary cropcultivation, agricultural irrigation canals, internal roads.

The investor to by approved by the provincial authorities must meet preliminary requirements in terms of financial power and experience.The investor has to mobilize at least 15 per cent (VND250.3 billion) of the total investment capital while its average minimum net asset value is not lower than its equity at least VND250.3 billion during the past five years. The selected investor is likely to arrange loan capital worth VND1.418 trillion.

As for its experience, the investor must have implemented similar projects with the total investment equivalent to at least 50% of that for this project. The minimum equity of the investor is equal to that required for the project investor.The similar projects deployed by the investor  have been completed during the past five years and they must include primary items such as technical infrastructure, rainwater and wastewater drainage systems, and electricity supply.

The selected investor have not had the investment certificate of their similar urban area and housing projects revoked by competent agencies due to their infringement of legal regulations or delayed progress.

The similar urban area and housing projects cover the participation of investors as a equity contributor.

Besides, the selected investor must meet other legal regulations regarding bidding, real estate business, and the development of urban area and housing.

Eligible investors could apply for bidding and implementing the project within 30 days since the project - related information is issued.

They could make their registration for bidding and implementing the project on the Vietnam National E-Procurement System (VNEPS). In case the Ministry of Planning and Investment has yet to issue the detailed guidance as prescribed in Article 91 of this Decreeeligible investors could submit their procedures and make the registration for bidding and implementing the project to the Vinh Phuc provincial Department of Planning and Investment.

In order to register for implementing the project, eligible investors must submit a registration form, procedures on legal status, technical and financial competence, and experience, and other relevant procedures.

All the procedure should be sent to the Vinh Phuc provincial Department of Planning and Investment at No 40, Nguyen Trai street, Dong Da ward, Vinh Yen city, Vinh Phuc province. Telephone: (+84) 211.386.2480. Fax: (+84) 211.386.2480. Email: sokhdt@vinhphuc.gov.vn.