Long An Province Transforms 200 Hectares of Rice Fields into a VND 17 Trillion Urban Area

Long An Province Transforms 200 Hectares of Rice Fields into a VND 17 Trillion Urban Area

The Vietnamese government has approved the conversion of 201 hectares of rice fields in Ben Luc district, Long An Province, into non-agricultural land for the development of an eco-urban area. Deputy Prime Minister Tran Hong Ha recently signed a document allowing the Long An Provincial People's Committee to convert 201 hectares of rice fields into non-agricultural land for the construction of eco, commercial, and tourism urban areas, based on the evaluation and proposal from the Ministry of Natural Resources and Environment.

The Deputy Prime Minister requested the Long An Provincial People's Committee to be responsible for the content and data of the report, organize inspections and reviews of the current state of land use to ensure consistency between documents and actual conditions, and to ensure compliance with the rice land targets allocated by the Prime Minister.

The Long An Provincial People's Committee is fully legally responsible to the Prime Minister for the decision to convert the purpose of rice cultivation land, ensuring compliance with land laws and other relevant laws; ensuring land use is economical and efficient, preventing waste and loss.

The eco-urban project, commercially named Eco Retreat, is jointly invested by DB Investment Development Co., Ltd. and the Ecopark Corporation. The project spans 220 hectares with a total investment of nearly VND 17 trillion.

The project includes over 4,950 low-rise residential plots, 4,300 high-rise mixed residential units, 180 resettlement plots, and various public facilities and green spaces. The project is expected to be completed by 2028, accommodating more than 37,000 residents.

Nomura Real Estate Group from Japan is a development partner of Ecopark for this project.

In December 2023, the leadership of Long An Province held meetings with Japanese enterprises. The provincial government hopes both parties will continue to exchange, sign cooperation agreements, and quickly initiate the project to ensure completion on schedule.

Recently, Long An Province has continuously attracted investments from real estate magnates, launching several billion-dollar projects.

In 2023, multiple groups have signed memoranda of understanding with the province to study investments in areas such as infrastructure, industry, urban development, environment, entertainment complexes, social housing, and high-tech agriculture.

For more information about real estate projects in Ho Chi Minh City and neighboring provinces, please contact FTT LAND!

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