Quang Ninh City People's Committee has just approved the investment policy and assigned the investor to implement the Social Housing project at Thuy San hill, Bai Chay ward.
Thuy San Hill is one of the highest hills currently in the center of Bai Chay ward. The land for the project is "clean" land, has completed site clearance and is currently managed by the State.
According to the decision, the project investor is the Joint Venture of IEC Construction and Mechanical Investment Joint Stock Company, CFI Trading Co., Ltd. and TTP Construction and Trading Investment Joint Stock Company.
IEC Construction and Mechanical Investment Joint Stock Company is proposed by the Investor Consortium to be the project investor.
The project has a total land use area of about 11,045m2, with an estimated population of about 1,273 people.
Regarding products, the project provides about 551 apartments. Of which, there are 399 social housing apartments for sale, lease, and lease-purchase and 152 commercial housing apartments for sale, lease, and lease-purchase.
The project will invest in 2 social housing apartment buildings (CT2, CT3) and 1 commercial housing apartment building (CT1) with 20 above-ground floors, with 1 basement. Construction density is about 27.9%, land use coefficient is about 5.3 times.
The total investment capital of the project is about 647 billion VND. Project implementation progress in the period 2026-2028.
The project's operating period is 50 years from the date the investor is granted a land allocation decision, a land lease decision or a decision to change the land use purpose.
According to the decision, the investor is allowed to allocate a maximum of 20% of the total residential land area within the project to invest in the construction of business services, commercial housing.
Investors are exempt from land use fees and land rent for the entire land area for social housing construction under the project. At the same time, investors do not have to carry out procedures to determine land prices, calculate land use fees and land rents that are exempt; do not have to carry out procedures to request exemption from land use fees and land rents and enjoy other incentives according to regulations.
