The Hanoi People's Committee has issued a decision to allow Vietnam Exhibition Center Joint Stock Company to transfer a part of the New Urban Area Construction Project in Xuan Canh, Dong Hoi, Mai Lam communes (Dong Anh district) to T&T New Times Joint Stock Company.
The investment project to build a new urban area is implemented in Xuan Canh, Dong Hoi, Mai Lam communes, Dong Anh district, Hanoi with a total land use area of 261.46 hectares. The project is expected to serve about 37,300 people, with a total investment of up to VND34,879 billion. The project is expected to be completed in the third quarter of 2025.
Vietnam Exhibition Center Joint Stock Company will transfer a part of the project including: Land for the construction of high-rise housing, low-rise housing, mixed-use works and public land for business purposes, with a total area of up to 750,000m2, of which 427,078.5m2 is residential land and 323,318.3m2 is public land to T&T New Times Joint Stock Company.
The investment scale of the above transfer project is included in the overall Investment project to build a new urban area in Xuan Canh, Dong Hoi, Mai Lam communes, Dong Anh district, Hanoi City, which was approved by the City People's Committee on June 26, 2020. With a total investment of about VND 30,360.5 billion in the transfer part.
The current status of the transfer project has completed site clearance and is under construction according to the approved investment project.
The reason for the transfer request is implemented according to the Principle Contract for the transfer of a part of the project No. 2111/HDNTCNDA-VEFAC-T&T dated November 21, 2024 between Vietnam Exhibition Center Joint Stock Company and New era Joint Stock Company T&T.
Responsibilities of the transferor and the transferee within 60 days from the approval decision, the parties must sign a transfer contract and complete the handover of the project according to regulations.
In case the cooperating units (units that have been mobilized capital by the investor through the form of business cooperation as prescribed), customers or related parties have opinions on their rights related to the project or the transferred project, Vietnam Exhibition Center Joint Stock Company is responsible for resolving the matter according to the provisions of law before signing a partial transfer contract for the project.
After the above deadline, if the parties do not comply with the provisions in this clause and the competent authority does not issue a decision allowing the transfer of the project to extend the implementation period, this decision will expire.
Vietnam Exhibition Center Joint Stock Company (transfer) is responsible before the law for the legality, accuracy, and honesty of the reporting content in documents and documents for the transfer of part of the project. Transferring its rights and obligations for the project transfer to T&T New Times Joint Stock Company to continue investing in construction and business according to the project content approved by the City People's Committee and regulations of law...
T&T New Times Joint Stock Company (receiving the transfer) is responsible before the law for the legality, accuracy, and honesty of the reporting content in documents and records receiving the transfer of a part of the project. Inheriting and performing the rights and obligations for the project transferred from Vietnam Exhibition Center Joint Stock Company according to the provisions of law.
At the same time, continue to implement investment in construction and business for the project to receive the transfer in accordance with the approved schedule, planning and content of the project, ensuring that it does not change the goals and content of the project that have been approved by the City People's Committee and the rights of customers and related parties according to legal regulations...
