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Ho Chi Minh City helps Quoc Cuong Gia Lai project

Quoc Cuong Gia Lai project is in front of the possibility of a clean space before October

HCMC People’s Committee assigned Nha Be District People’s Committee to inspect the land use of the households living in the project area of ​​Bac Phuoc Kien – Nha Be residential area owned by Quoc Cuong Gia Lai Joint Stock Company (HoSE: QCG) invest.

Accordingly, administratively sanctioned cases of encroachment on public land and construction of illegal houses and works.

Quoc Cuong Gia Lai project is in front of the possibility of a clean space before October
Quoc Cuong Gia Lai project is in front of the possibility of a clean space before October

City People’s Committee Ho Chi Minh City requested the Department of Natural Resources and Environment to coordinate with Nha Be District People’s Committee in proposing the direction of recovering the remaining land area of ​​Bac Phuoc Kien – Nha Be residential area and other similar projects. Investors can not agree compensation with the households.

Phuoc Kien Residential Area has an area of ​​91 ha, has been implemented nearly 10 years but so far only 92% of the area. The remaining land is only about 7 hectares but in the last 2 years, the land clearance works in place.

According to information from Quoc Cuong Gia Lai, 8% of the area is not compensated due to two problems. First, 4% of the land area is dyke (public land), so Quoc Cuong Gia Lai has to pay for the state. Secondly, 4% of the remaining land is not allocated to the people, so the company also has to pay for the state, but households have been building houses on this land for a long time, if not resolved well, The company will have to compensate 2 times (just compensation for the people, just to pay for the state).

At present, there are about 100 spontaneous houses on the land, with an area of ​​about 7,000 sqm; 30% of the houses are built from agricultural land, 70% is encroachment on the dyke and canal.

Previously, Quoc Cuong Gia Lai received $ 50 million advance from Sunny Island partner to settle the loan at BIDV.

According to the terms of the contract, by the end of October, 2017, if Quoc Cuong Gia Lai does not clear the site and can not deliver clean land in Phuoc Kien Residential Area, the Company will have to compensate $100 million or transfer Phuoc Kien project to Sunny Island.

In August, 2017, Nguyen Thi Nhu Loan, President of Quoc Cuong Gia Lai, threatened to sue the People’s Committee of Nha Be district because of loose land management.

“We have repeatedly asked Nha Be district to resolve the problem, but the district authorities have always avoided it,” she said, “and we will consider appealing to the district authorities if things are not resolved satisfactorily.”

However, with this guidance the City People’s Committee HCM City, Phuoc Kien project will have clean space before October.

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