The project “scandal” Chi Lang stadium is expected to be built about eight blocks tall building on 33 floors.
Danang City People’s Committee has approved the master plan of architectural highlights around Chi Lang Stadium and Trung Vuong Theater.
Accordingly, the area of 8.5 hectares surrounding the Trung Vuong Theater and Chi Lang Stadium will include two high-rise buildings that will create an architectural highlight for urban space.
Specifically, Zone A on 33 floors, including 3 land lots: Lot of Chi Lang Stadium in the North, Le Duan Street in the North, Hung Vuong Street in the East, Ngo Gia Tu Street in the East, Ngo Biem Street in the West; Chi Lang (former Empress Dowager); the eastern land of Trung Vuong Theater (Far East Tower), the North borders the residential area, Hung Vuong Street to the South, Yen Bai Street to the East, Nguyen Chi Thanh Street to the East; Dong An Complex (Golden Square), Nguyen Thai Hoc street in the North, Pham Hong Thai Street in the South, Yen Bai Street in the East, Nguyen Chi Thanh Street in the East.
Area B is 16 – 25 storeys high. It is on the west side of Trung Vuong Theater. It borders on the residential area to the North, Hung Vuong Street to the South, Phan Chau Trinh Street to the East, Nguyen Thi Minh Khai Street to the West. Especially, the 5.5 hectare Chi Lang stadium is expected to build about 8 blocks of 33-storey buildings.
It is known that Chi Lang Stadium is located in Hai Chau District – Da Nang city center with four facades: Le Duan, Hung Vuong, Ngo Gia Tu and Chi Lang. This is considered to be the ‘golden land’, the most prime location in the city.
In August 2010, Da Nang People’s Committee granted investment license for Thien Thanh Chi Lang Plaza (Chi Lang Stadium) for Thien Thanh Group. Pham Cong Danh is the Chairman of the Board cum General Director.
The land area of 55,061 sqm was allocated to Thien Thanh Group at the price of nearly VND 1,400 billion, equivalent to VND 25.3 million / sqm (land price in this area at that time amounted to VND 80 million / sqm).
Thien Thanh Group then allocated 14 plots of land and pledged to Construction Bank and Agribank to borrow more than VND 4,000 billion. After Mr. Pham Cong Danh and his associates were arrested in the Construction Bank, the project mobilized Chi Lang to the dead end.
Construction Bank was later bought by the State Bank at the price of “0 dong”, the right of land use at the Chi Lang Stadium also follows the assets of the State Bank.
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