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According to the newly issued Decision of the People’s Committee of Soc Trang Province, FLC Group Joint Stock Company is the investor who wins the bid for Ho Nuoc Ngot New Urban Area project.
Accordingly, the project has a total implementation cost of VND 2,467 billion (excluding compensation costs for site clearance). The land use area of the project is 47.13 hectares in Ward 5 and Ward 6, Soc Trang City. Of which, public land is 19.84 hectares and recovered land is 27.32 hectares.
The contract implementation period is 50 years, of which the time for construction and completion of the work is 3 years (from the date of issuance of the land allocation decision). Land use time is 50 years.
Overall perspective of Ho Nuoc Ngot New Urban Area project. (Photo: Soc Trang newspaper)
The goal of the project is to build an urban area associated with amusement parks, including residential functions, general commercial services, cultural centers, physical training and sports centers and urban facilities. Other catering needs of people in the area.
According to the research, during the prequalification period of investors implementing the Project (from 12/3 – 11/4/2019), there were 3 investors attending, including: DHS Joint Venture (including Dat Xanh Group Joint Stock Company) – Ha Thuan Hung Construction Trading and Service Co., FLC Group JSC, Cat Tuong Real Estate Group JSC.
By June 2019, according to the notice of Soc Trang Construction Department, FLC Group Joint Stock Company was the only investor who won the prequalification and was appointed to perform the project.
The two investors participating in the preliminary round that were overcome by FLC are big men who own a lot of land in the provincial markets.
In particular, Dat Xanh JSC (Code: DXG) is known as a real estate developer operating both in the field of project distribution with a total assets of over 21,000 billion dong.
Meanwhile, the second investor who failed to pass the preliminary stage was Cat Tuong Real Estate Group JSC (from Long An). The enterprise was established in 2011, formerly known as Cat Tuong Duc Hoa Real Estate JSC.
According to information on the website of Cat Tuong, this investor has a series of real estate projects across the southern provinces (Ho Chi Minh City, Long An, Binh Duong, Binh Phuoc ). The land fund of this business is also up to thousands of hectares.
For winning businesses, FLC Group (Code: FLC) is known as a multidisciplinary group with areas such as real estate, tourism, construction, agriculture, mining and aviation.
In real estate, this group owns many big projects in Hanoi. Besides, there are real estate projects with large scale in many localities across the country such as Thanh Hoa, Quang Ninh, Quang Binh, Binh Dinh, Quang Ngai,
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