On December 16, Khanh Hoa Provincial People's Committee said it will hold a meeting to listen to reports on the implementation plan and prepare conditions for project investment after the zoning plan is approved for Project HH1-HH2-HH3 and Project TM1 of the Tan Lap Islet Residential Area project.
A long-running and repeatedly extended project
This is the latest development related to the Tan Lap Islet Residential Area project after Vice Chairman of the Provincial People's Committee Tran Hoa Nam concluded and assigned the Nha Trang City People's Committee to continue implementing land acquisition and site clearance for the Tan Lap Islet Residential Area project.
It can be said that by the end of 2024, the Tan Lap Islet Residential Area project has been implemented for more than 10 years and has been extended many times but still fails to complete as previously committed to Khanh Hoa province.
After reviewing the proposal of this project owner, Khanh Hoa province assessed that for cases where compensation, support and resettlement plans have been approved, compensation and site clearance work will continue to be carried out according to regulations.
For cases where compensation, support and resettlement plans have not been approved, the People's Committee of Khanh Hoa province assigns the People's Committee of Nha Trang city to be responsible for developing specific compensation and site clearance plans for each case affected by the project according to the provisions of the 2024 Land Law.
Not only are there problems with site clearance, but currently, customers who contributed capital to buy land at the TM1 commercial land plot of the Tan Lap Islet Residential Area project are complaining about the investor's joint venture but leaving the rights of the people untouched.
Previously in 2017, Khanh Hoa Provincial People's Committee decided to approve the transfer of part of the TM1 commercial land project to HP Hospitality Nha Trang Company Limited (in a joint venture with Song Da - Nha Trang Joint Stock Company).
Regarding the scale of investment in construction of the project on the TM1 land that has been transferred, it includes 14 floors and 1 basement with infrastructure of about 8,110m2.
Where did the billions of customers' capital contributions to TM1 land go?
Some customers who contributed capital said they had sent a complaint to the Department of Planning and Investment of Khanh Hoa province, requesting clarification of the members contributing capital to the TM1 land plot of the Tan Lap Islet Residential Area project.
The reason customers request clarification on the joint venture is because during the process of changing owners many times, their rights have not been guaranteed.
According to customers at the time they contributed capital to the TM1 project (2017), the registration certificate of HP Hospitality Nha Trang Company Limited (HP Hospitality Nha Trang) showed a charter capital of VND 226 billion. Of which, Song Da - Nha Trang Joint Stock Company had a capital contribution of VND 135.6 billion (60%). Meanwhile, Song Da - Thang Long Joint Stock Company had a capital contribution of VND 90.4 billion (40%).
By 2022, the capital contribution of Song Da - Nha Trang Joint Stock Company will be only 14% and the remaining 75% will belong to Hai Phat Investment Joint Stock Company (abbreviated as Hai Phat Group, headquartered in Hanoi).
In 2023, Hai Phat Group approved the policy of transferring the capital contribution that the company owns at HP Hospitality Nha Trang. After the transfer, Hai Phat Group still owns 10 billion VND, accounting for 4.5% of HP Hospitality Nha Trang's charter capital.
The customer requested clarification on the fact that Song Da - Nha Trang Joint Stock Company previously collected hundreds of billions of dong from customers but transferred all the capital and had no obligations to customers. In addition, the customer asked where the 46% capital contribution of Song Da - Nha Trang Joint Stock Company has gone?
