Before the groundbreaking ceremony, Vinhomes' 85,000 billion VND super project in Cam Ranh continuously has new moves: From capital mobilization to speeding up site clearance work.

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Before the groundbreaking ceremony, Vinhomes' 85,000 billion VND super project in Cam Ranh continuously has new moves: From capital mobilization to speeding up site clearance work.

Project news

29/03/2025

In March 2025, there was a lot of information about the implementation of Cam Ranh Bay Urban Area (Cam Ranh City, Khanh Hoa Province), from the announcement of eligibility for capital mobilization to the urgent completion of site clearance work...

Khanh Hoa Department of Construction recently sent a document to Cam Ranh Investment Joint Stock Company announcing that it is eligible to mobilize capital through investment and business cooperation at the Cam Ranh Bay Urban Area project.

According to the document, capital mobilization through capital contribution, investment cooperation, and business cooperation is regulated by the Housing Law 2023 - the capital mobilization level of the project is nearly VND 14,768 billion. The capital mobilization time is based on the project implementation progress (from the second quarter of 2023 to the first quarter of 2027).

Parties participating in capital contribution, investment cooperation, and business cooperation are only allowed to divide profits in cash or shares based on the capital contribution ratio as agreed in the contract as regulated by the Housing Law 2023.

The consortium of investors is not allowed to use the mobilized capital for other projects or other purposes. In case of misuse of mobilized capital or misappropriation of mobilized capital, the amount mobilized in violation of regulations must be returned, compensation must be paid (if causing damage) and administrative sanctions must be imposed according to the provisions of the law on administrative sanctions or criminal prosecution must be imposed according to the provisions of the law.

Previously, on March 12, 2025, Cam Ranh City People's Committee issued an official dispatch on urgently completing the site clearance work for the Cam Ranh Bay Urban Area project.

Accordingly, to ensure the basic completion of the site handover for the investor to organize the groundbreaking and implementation of the project in April 2025 - Cam Ranh City People's Committee requested relevant units to perform the following contents:

For Area 1 and Area 3, according to the overall progress, compensation payment for 80% of the recovered land area must be completed by the end of March. For Area 2, the Land Fund Development Center must complete the posting of the draft compensation plan, mobilize people to sign a commitment to receive money and hand over the site early...