Vu Dai Thang, Quang Ninh Province Party secretary, has instructed local authorities to speed up land acquisition procedures for Vingroup to start work on its VND456.64 trillion (US$17.3 billion) urban project.
Following a recent inspection of the progress made on the Ha Long Xanh integrated urban area, he said “one of the largest urban projects in the country” is of much significance to Quang Ninh’s economic development and should be able to break ground on Dec. 19 as planned.
Ha Long Bay in Quang Ninh Province, northern Vietnam. Photo by Unsplash/Valeriy Ryasnyanskiy |
The urban area, close to Ha Long Bay, will comprise more than 3,100 hectares in Ha An Ward and 1,000 ha in Tuan Chau Ward.
Tuan Chau authorities have handed over the land to Vingroup, while Ha An has completed 81% of site clearance.
Vingroup has said Ha Long Xanh will cost VND456.64 trillion, almost double its 2020 estimate following expansions to the original plan and its largest project to date. Ha Long Xanh will have more than 55,000 apartments, condotels, shophouses, villas, and hotel rooms.
Quang Ninh aims to become a smart, ecological urban area that leverages the value of UNESCO world heritage site Ha Long Bay.
Benefiting from its location and landscapes, the Quang Ninh property market has grown rapidly in recent years with a wide range of products such as apartments, condotels, villas, and townhouses.
Other major developers like Sun Group and Bim Group are also active in the province.
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