In mid-June 2024, Quang Minh School Joint Stock Company, the investor of the QMS Top Tower project (located at the Vu Trong Khanh - To Huu intersection, Hanoi) announced the restart of the project and will complete the project. later this year.
This project has been licensed for construction since 2018, expected to be completed in 2020. However, after topping out in April 2020, the project suddenly stopped construction and has been "under construction" since then.
QMS Top Tower project has a total investment capital of nearly 2,000 billion VND, with a scale of 490 apartments. Currently, apartments in this project are being offered for sale on the market with popular prices ranging from 50-60 million VND/m2. According to the plan, the distributor and investor are expected to hold an official opening ceremony in July 2024.
Similarly, at the Vicem Operation and Transaction Center tower project (Vicem Tower) at Lot 10E6, Cau Giay new urban area, City. Hanoi is preparing to restart.
Accordingly, a representative of Vietnam Cement Corporation (Vicem) recently said that after many years of stopping construction, the project has been approved by the Government to resume implementation. Currently, Vicem is promoting licensing procedures and adjusting the project to continue construction. It is expected that the project will be put into operation by the end of 2025 or early 2026.
Vicem Tower was approved on a plot of land of 8,476 square meters, including a 31-storey building and 4 basement floors. The total initial investment of the project was 1,952 billion VND, then the investment capital increased to 2,743 billion VND.
In the southern market, the investor of the Ecity Tan Duc Urban Area project is also making moves to prepare for the restart of this project.
At the recently held 2024 Annual General Meeting of Shareholders, the board of directors of Tan Tao Investment and Industry Joint Stock Company (ITACO, code: ITA) said that ITACO has just been granted a 12-month extension to implement the slow implementation of Ecity Tan Duc Urban Area. since 2008.
According to business leaders, the extension is only for the purpose of overcoming difficulties and investing in infrastructure, but to complete the entire project according to planning, it will take at least 3-5 years. In 2024, ITACO will continue to invest in technical infrastructure with bank loans or by cooperating with secondary investors to develop projects to quickly recover capital.
Notably, information that the Cocobay Da Nang project was about to restart last May also caused a stir among real estate investors.
Previously, Thanh Do Construction and Development Investment Joint Stock Company, the project investor, had written a report to the Da Nang Department of Construction on the implementation time of the super project Cocobay Da Nang. This project is expected to restart in May 2024.
According to the plan, subdivision HH6 includes 2-3-storey single villas expected to be completed in March 2025; HH2 subdivision is expected to be completed in June 2025. The remaining subdivisions will be completed in 2026 - 2028.
