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Request for revocation of Nam Dan Plaza project related to Trinh Xuan Thanh

Request for revocation of Nam Dan Plaza project related to Trinh Xuan Thanh

District People’s Committee of Nam Tu Liem (Hanoi) requested the City People’s Committee to inspect, inspect and consider the Nam Dan Plaza project due to slow progress of many years.

Nam Dan Plaza (located on Pham Hung Street, Nam Tu Liem District, Hanoi). The project has a total land area of ​​9,584 sqm, a 44-storey building permit, a total investment of $ 220 million (of which construction value is $ 185 million, $ 25 million land use value).

On 18 October 2002, the People’s Committee of Hanoi has decided to recover 9.584sqm of land in My Dinh commune, Tu Liem district (now My Dinh 1 ward, Nam Tu Liem district) for Trans Thai Service Co., Ltd. Binh Duong rent to build civilization funeral center.

Request for revocation of Nam Dan Plaza project related to Trinh Xuan Thanh
Request for revocation of Nam Dan Plaza project related to Trinh Xuan Thanh

In January 2006, the City People’s Committee officially granted the land use right certificate to Trans-Pacific Services Company Limited.

As of November 9, 2006, the City People’s Committee allowed the company to convert its purpose of using 9,484 square meters of land from the purpose of building a civilized funeral center to a five-star hotel. However, after this project was not implemented.

In 2010, PetroVietnam Real Estate Joint Stock Company – PVP Land (the biggest shareholder of the Trans Pacific Company with 50.5% of capital) has the policy of transferring the contributed capital in Xuyen Joint Stock Company Pacific.

PVP Land is controlled by PetroVietnam Construction Joint Stock Corporation (PVP). Therefore, in order to transfer the contributed capital of PVT Land Company, PVP Land must consult PVC.

Trinh Xuan Thanh, then, as Chairman of PVC, instructed PVP leaders to sell all of its capital in the Trans-Pacific Company at a price below the actual value to collect tens of billions of dong.

Seven years after the deal, the investigating body prosecuted Trinh Xuan Thanh and co-defendants on charges of “embezzlement of property.”

On the charges, the People’s Court of Hanoi sentenced Judge Trinh Xuan Thanh to life in prison and sentenced 11 years in prison to Dinh Manh Thang (defendant Dinh La Thang).

 

According to VietnamFinance, currently the project area is still vacant land, there are some temporary works.

The People’s Committee of Nam Tu Liem district reported that the project had been handed over to the project owner, but the investor did not carry out the project.

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