On June 28, the Department of Finance of Binh Dinh province announced that the Provincial People's Committee had issued a certificate of investment registration for the Mixed-use Apartment project at land plot No. 72B Tay Son Street, Ghenh Rang Ward (Quy Nhon City), to Arita Joint Stock Company (headquartered in Nghe An province).
The project has a total area of over 7,000m2, of which the construction area is nearly 4,000m2, the rest is for technical infrastructure, trees, yards and internal roads. The land is assessed to have a prime location as it is located near the center of Quy Nhon city, close to the sea and major traffic routes.
The total investment capital of the project is more than 3,500 billion VND. The project is expected to have a maximum of 4 basements and from 35 to 46 upper floors, not including the technical floor, attic and escape floor.
The project is expected to be completed and put into use in December 2028. The project's operating period is 50 years, and apartment buyers are granted stable and long-term land use rights.
Previously, the land at 72B Tay Son Street was the headquarters of the Department of Labor, War Invalids and Social Affairs of Binh Dinh Province. After rearranging administrative units, the Provincial People's Committee has directed the organization of auctions for land use rights to implement housing projects.
On January 19 and May 5, the Binh Dinh Province Property Auction Service Center organized a land auction with a starting price of more than 311.3 billion VND. As a result, Arita Joint Stock Company won the auction with a price 18.6 billion VND higher than the starting price. On June 13, 2025, the People's Committee of Binh Dinh province recognized the auction results and assigned the project implementation rights to the enterprise.
