On June 14, the Office of the People's Committee of Hoa Binh province said that the People's Committee of this province has approved the investment policy for the Central Market and Housing Area project of Thanh Cao commune, Luong Son district.
The project has a total investment of more than 170 billion VND, a population of about 1,320 people, with the goal of building a modern rural residential area with synchronous technical infrastructure and social infrastructure.
The project will be implemented on a total area of over 95,000m2, of which adjacent residential land accounts for about 31,267m2, expected to form 330 low-rise housing lots.
In addition, the project also includes items: commercial service land, trees, parking lots, technical infrastructure and internal traffic systems.
The capital source for implementation comes from the winning investor, in which the owner's capital must ensure at least 20% of the total investment. The project's operation period is 50 years from the date of approval by competent authorities.
According to the plan, the project will be implemented within 4 years, divided into three phases. Phase 1 (from the second to fourth quarters of 2025) will focus on completing legal procedures and organizing bidding to select investors.
Phase 2 (from the first quarter of 2026 - the third quarter of 2028), implementing the construction of technical infrastructure, social infrastructure, commercial works and housing clusters.
Phase 3 (from the fourth quarter of 2028), will be completed, the infrastructure will be handed over to state management agencies, and the entire project will be put into business operation.
The project is divided into two housing clusters, implemented in parallel with the corresponding technical infrastructure system.
The People's Committee of Hoa Binh province requires investors to strictly comply with legal regulations throughout the implementation process. Investors must build roughly and complete the outer surface of 12 houses on the frontage of DT431 road, and are allowed to transfer land use rights with technical infrastructure to individuals to build their own houses, according to current regulations.
