On July 28, news from the Department of Agriculture and Environment of Khanh Hoa province said that it had issued a notice inviting consulting units to participate in the bidding package to determine specific land prices for the Nhat Tien Plaza Project at No. 39 - 41 Nguyen Thi Minh Khai, Nha Trang ward.
According to the notice, the Sub-Department of Land Management under the Department of Agriculture and Environment has a need to hire a consulting unit to determine the specific land price of the project.
The determination of land prices is to serve as a basis for additional collection of land use fees (if any) due to adjustments to the previous architectural plan. The time for determining land prices is August 2015 and June 2019.
The Department of Agriculture and Environment invites consulting organizations to determine land prices that meet operating conditions according to the provisions of law to register to participate in the consulting package.
Currently, on land plot No. 39 - 41 Nguyen Thi Minh Khai, there are two 5-star hotels, Regalia Gold Hotel and Virgo Hotel. Among them, Virgo Hotel is invested by Virgo Nha Trang Trading Co., Ltd.
In 2015, Khanh Hoa Provincial People's Committee issued a document agreeing on the architectural plan of Nhat Tien Plaza Project at No. 39 - 41 Nguyen Thi Minh Khai, invested by Nhat Tien Investment Trading and Service Joint Stock Company.
The project is invested with the goal of building tourist apartments and commercial service areas on a land area of more than 4,000m2, divided into two zones.
By 2019, Khanh Hoa Provincial People's Committee will continue to agree to adjust the architectural and planning indicators, including the scale of floor height, rearview and some other contents for projects in this land area.
Accordingly, the Nhat Tien Hotel Project is adjusted to 40 above-ground floors and 2 basements; the Virgo Hotel and Tourist Apartment project has a scale of 40 above-ground floors, 2 basements; while the Thien An Hotel and Helios Hotel Project has a scale of 22 above-ground floors and 1 basement.
The architectural and planning indicators after adjustment are the basis for the Department of Natural Resources and Environment (formerly) to re-determine land prices, land use fees, land rent and additional amounts to be paid (if any) for Nhat Tien Investment Trading and Service Joint Stock Company.
Difficult to determine land prices
At the end of 2025, functional agencies also announced bidding invitations to determine land prices for the Nhat Tien Plaza Project at 39 - 41 Nguyen Thi Minh Khai. However, the determination of land prices for this project is difficult and has not been implemented.
At the 2nd session of the Khanh Hoa Provincial People's Council in July 2026, Mr. Nguyen Duy Quang - Director of the Department of Agriculture and Environment of Khanh Hoa province - explained regarding the continuous adjustment of planning for many projects.
Accordingly, in the process of implementing urban area projects, many investors have adjusted planning and changed designs many times.
In addition, the work of re-determining land prices also faces many difficulties due to the limited number of consulting units participating, and land price determination dossiers have to be supplemented and completed many times.
To remove obstacles, the Department of Agriculture and Environment has strengthened officials to participate in determining and controlling land prices; and at the same time working directly with consulting units to accelerate the progress of land valuation.
