Learn about the legal status of The Arena project

The Arena project with solid legal status, every customer can completely rest assured safe investment in this resort project.

Probably legal is one of the first core issues that investors find out before deciding whether to invest in the project. Especially big projects, high-end apartments, the legal status should be placed on top. Understanding this, the investor of Nha Trang Bay has completed the full documentation of the project The Arena Arena right before the project was officially launched. And this is also a commitment to the safety and solidity of the project that the investor wants to send to all customers, potential investors.

Panoramic Cam Ranh panoramic

Panoramic Cam Ranh panoramic view extremely modern with a prime location in Cam Ranh, Khanh Hoa at night

Then what legal documents of The Arena are completed with the papers? How is the Condotel model of The Arena? The answer will be in the article below.

What is Condotel? What is the legal status of Condotel?

Although Condotel has emerged and flourished in recent years, Condotel has not officially been listed in construction, housing or any real estate business. And in the land law, land based on the Condotel type is also just commercial land so Condotel apartments can not be owned permanently. That is why every customer interested in this market is always worried about the legal status of these condotel projects.

What is Condotel? Condotel is a type of real estate that combines the flexibility of apartments and hotels. Due to its new nature, many investors are hesitant because of the legal nature of the project, so they do not dare to invest heavily, although this is a form of business that brings great profit. The explanation of Condotel’s ownership deadlock will be the basis for all customers to gain access to more real estate products.

The Arena Cam Ranh project

The Arena Cam Ranh project

Explanation of the legal status of Condotel in Nha Trang.

As mentioned above, Condotel is a combination of two types of apartments and resorts. The form of the apartment is covered by the Housing Law but the form of the hotel is managed by the Tourism Law. For long-term residential customers, As for hotels, buyers can only rent land for a limited period of time. Condotel, which has both characteristics, is still unclear.

However, until now, some localities such as Nha Trang, Da Nang or Phu Quoc have taken measures to change the purpose of using commercial land to residential land without forming housing units, thus helping The buyer is allowed to own a permanent property with his.

The Arena is granted long-term ownership.

The Arena project is operated and developed by the owner of Nha Trang Bay – the investor with many super projects in Nha Trang, so the Arena project will have more advantages when receiving the main the priority of Khanh Hoa Province, especially in dealing with legal issues on land use rights.

The Arena is an integration of three flexible forms of ownership that are mutually agreed between the owner and the owner, including: residential, business and self-employed. This will help the customer’s property to be clearly identified and every owner will be granted long-term ownership. Therefore, every investor who invests in The Arena can completely be assured when deciding to invest in this project. The Arena will be an asset to long-term investors and even property that can be left to later generations is not a problem.

The Condotel The Arena Long Beach

Living space in dream at The Arena Nha Trang

Basic legal documentation of The Arena project.

To be licensed to start construction of The Arena project Nha Trang Bay has completed the licensing procedures with the following certificates:

Land use right certificate: This is the legal basis to prove the ownership of the investor with the land plot. The Arena has a certificate of land use right, ownership of housing and assets attached to land ssos BV412821, issued on June 29, 2015.

Certificate of business of investors: Nha Trang Bay investors have business license number 4201610309 issued on August 18, 2014. The location of this investor is at 6, Le Hong Phong II, Phuoc Hai, Nha Trang, Khanh Hoa. Main investment area of ​​Nha Trang Bay is  in real estate and resort.

Construction permit: The Arena was granted construction permit No. 20 / SXD- KTQH issued by Khanh Hoa Construction Department on February 07, 2013. This is the condition to ensure the entire project during the construction process, avoid the suspension due to wrong regulations on the construction permission of this project.

So, with the legal clarity, solid, you can completely secure the investment in The Arena. Coming to the project to feel it.

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