THANH HOA: INVESTING EAST ASIAN SEA ECOLOGY URBAN PROJECT

The people’s committee of Thanh Hoa province transferred Department of construction hosting, collaborating with the relevant units to guide East Asia group of real estate company Ltd. finishing record, the procedure of project investment of East Asian sea ecology sea urban area, Sam Son cities according to the regulations.

Previously, regarding the approval of the investment of East Asian sea ecology urban area project, Ministry of construction had written the number 2398 sending people’s committee of Thanh Hoa province.

Accordingly, for invested approval jurisdiction: East Asian sea ecology urban area project is located in Sam Som city, Thanh Hoa province having the land use scale of 60.46 ha. According to the provisions in Decree No. 11/2013 date 14th of January, 2013 of the Government on development, investment, and management urban, the project is approved by people’s committee of Thanh Hoa province after uniting comments through the text of the Ministry of construction.

Projects’ profile includes The legal documents related to projects, project demonstration, facility design, the profile of the investors’ capability which are enough conditions to give opinions as stipulated in Decree No. 11/2013.

The project of East Asia sea ecological urban area, Sam Son city, Thanh Hoa province

For project investment approval: conformity with urban planning, urban development program, urban development area and urban development implement plan: East Asian sea ecology sea urban area, Thanh Hoa province having the scale of 60.46 ha approved the adjustment of detailed planning 1:500 ratio by Thanh Hoa province people’s Committee in decision No. 1215 on 8th April 2017. The project has been updated to adjust general planning Sam Son city, Thanh Hoa province to the year 2040 approved in decision No. 2525 on 17th of July, 2017.

For the necessary for investment: the invested project will create the complex of about 256 villas, 1000 hotel rooms, commercial services, entertainment to serve to nearly 10000 people contributing to promote socio-economic development of Sam Son city. The project is located in the beautiful ecological landscape creating the important urban point for Sam Son becoming the tourism municipality of Thanh Hoa province, Northern areas and country bring international stature with the overall plan adjustment Sam Son city, Thanh Hoa province to the year 2040.

For project implementation capacity of the investor: East Asia group of real estate company Ltd. is certificated the business registration certificate No. 2800327086 by Department of planning and investment of Thanh Hoa province having the function of infrastructure construction and real estate business in accordance with the current regulations.

According to the business registration certificate No. 2800327086 certificated by Department of planning and investment of Thanh Hoa province on 28th of March, 2017, the capital of the company owner is 583 billion dong ensuring to achieve more than 20% of the expectedly total investment to implement the first phase of project (the expectedly total investment of phase I of the project is 1116.79 billion dong) according to the provisions of article 16 of Decree 11/2013.

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For the form of investment and implementing progress: project is invested under the form of East Asia group of real estate company Ltd. is an investor offering the capital to implement clearance, building synchronous infrastructure under planning and exploiting the land fund to create capital to offset the cost of infrastructure investment and continue to implement the architectural works in the project.

The progress of the project consists of two phases: Phase 1: construction of infrastructure in 4 years (from the 1st quarter of 2018 to 4th quarter of 2021) with expectedly total investment capital of 1200 billion dongs; phase 2: construction of the architectural works in 6 years (from 2020 to 2026).

Some contents need to modify and study: this project is implemented in the area being directly influenced of the phenomenon of climate change, hence proposing Thanh Hoa province of people’s Committee to instruct investors to supplement the solutions to deal with the extreme phenomena  due to the climate change, especially the phenomenon of rising sea-level, storms, landslides.

Proposing Thanh Hoa province of people’s Committee guide Department of construction and the relevant authorities to clarify some of the contents: the categories of infrastructure works of the project transferred to the State; the obligation of the investor for the State, local; support, incentives of the State for projects in the decision to approve the investment. Reviewing the regulations on social housing to have arranged solutions Land Fund implement in appropriate areas, ensure compliance with the provisions of the law on housing development.

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