Recently, VietinBank has announced the sale of 396 land use rights in various provinces and cities nationwide, such as Hanoi, Ho Chi Minh City, Da Nang, Hoi An (Quang Nam), Can Tho, Phu Quoc (Kien Giang), Tay Ninh, Ba Ria – Vung Tau, Khanh Hoa… These are all collateral assets that need to be dealt with to recover debts for the bank.
Notably, VietinBank is selling the entire resort area in Binh Thuan for 42.4 billion Vietnamese dong. Specifically, the assets being sold are the land use rights and assets on the land with an area of 4,538 square meters. The designated use is for production and business purposes. The land use term extends until June 22, 2053.
According to the bank, the origin of land use is that the State leases the land and charges a lump sum for the entire lease period. The current condition of the assets on the land is the Feng Shui resort area located in Thuan Quy commune, Ham Thuan Nam district.
It is known that the investor of the Feng Shui Resort project is the Viet Uc Investment and Trading Services Joint Stock Company (Viet Uc Group). This company was established in 2006 and mainly invests in resort real estate, hotels, restaurants, tourism, and construction materials production.
According to the introduction, the company has invested and developed 15 real estate projects, including several billion-dollar real estate projects and resort areas in Binh Thuan province.
However, some projects of Viet Uc Group have encountered various issues after several years of implementation. Among them, the Aloha Beach Village project covers an area of over 15 hectares with a total investment of 3.2 trillion Vietnamese dong in Thuan Quy commune, Ham Thuan Nam district.
However, after more than 5 years, this project has still not been put into operation due to numerous irregularities in construction investment and has been fined several times by the Department of Construction of Binh Thuan province.
In addition, in Khanh Hoa province, this bank is also selling land use rights with an area of 228 square meters and the entire ownership of a house and other assets attached to the land with a building area of 75 square meters in Block C-13D of the Prime – Prime Resorts and Hotels ecological tourism area (Cam Lam district). The selling price for this asset is 31.3 billion Vietnamese dong.
Furthermore, VietinBank is also selling land use rights with an area of 623.9 square meters at the address of The Pearl Hoi An Ecological Sports Tourism Area (Hoi An city, Quang Nam) for nearly 62 billion Vietnamese dong.
Previously, Vietcombank has announced the continued sale of a real estate property, the My Khe resort area with a total area of nearly 3,700 square meters in Tinh Khe commune, Quang Ngai city, owned by the Quang Ngai Tourism Joint Stock Company. Notably, this asset was initially offered for sale by Vietcombank in August 2022 for 30.4 billion Vietnamese dong.
However, in this sale, Vietcombank has increased the starting price of the resort area by approximately 9.4 billion Vietnamese dong, with a starting bid price of nearly 39.8 billion Vietnamese dong, equivalent to an increase of over 30% in just 10 months.
Source: Vietnam Insider