Housing

Officially reclaiming land of Da Lat Plaza project related to Ms. Truong My Lan

TH (according to Vietnamnet) January 21, 2025 14:00

Delta Company was assigned land to invest in a hotel and commercial center complex project but has not been implemented for nearly 20 years. This project is related to the criminal case of Ms. Truong My Lan and her accomplices.

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Land at 33 Phan Nhu Thach, Ward 1, Da Lat City

Lam Dong Provincial People's Committee has just issued a decision to reclaim land assigned to Delta Tourism Joint Stock Company (Delta Company) due to violations of land laws.

Specifically, Lam Dong Provincial People's Committee reclaimed the entire 3,377.5m2 of land at No. 23 (now No. 33) Phan Nhu Thach, Ward 1, Da Lat City. The land reclamation was due to Delta Company violating land laws, and the progress was extended but the land has not yet been put into use.

This is a case of land recovery due to violation of land law, so Lam Dong Provincial People's Committee will not compensate for land and assets attached to land according to the provisions of the 2024 Land Law.

Delta Company is responsible for handing over land and documents on land use rights to the competent authority. In case of non-compliance, it will be subject to enforcement according to the land recovery decision.

Ward 1 People's Committee, Da Lat City is assigned to receive and manage land plot No. 33 Phan Nhu Thach during the unused period, not allowing encroachment.

In June 2007, Delta Company was assigned the above land to implement the Dalat Plaza Hotel and Commercial Center Complex project. However, the company did not implement the project. In the period 2019-2021, the company was granted an extension of the land use schedule twice, but the Dalat Plaza project is still "on paper".

Before the Lam Dong Provincial People's Committee issued a notice to reclaim the land assigned to Delta Company in October 2024, SCB Bank issued a document stating that the land use right certificate of the Da Lat Plaza project is currently the collateral for the VND 734 billion loan of Oak Hill Investment Joint Stock Company.

SCB Bank is concerned that if the Da Lat Plaza project's land is reclaimed and operations are terminated, it will affect the bank's ability to recover debt.

In addition, SCB Bank also said that the land use rights of the Da Lat Plaza project are currently on the list of prohibited and restricted transactions and transfers at the request of the Ministry of Public Security's Investigation Police Agency due to their involvement in the criminal case of Ms. Truong My Lan and her accomplices.

TH (according to Vietnamnet)
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Officially reclaiming land of Da Lat Plaza project related to Ms. Truong My Lan