Binh Dinh Finalizes Land Use Fee Calculation for Quy Nhon Iconic

Phat Dat Real Estate Development Corporation (PDR) has recently received official notifications from the tax authorities of Binh Dinh Province regarding the detailed land use fees for the entire allocated land area at Quy Nhon Iconic (Bac Ha Thanh Urban Area).

On December 13, 16, and 17, the Tuy Phuoc – Van Canh Regional Tax Department of Binh Dinh issued multiple notices concerning land use fees, one-time lease payments for the entire lease period, registration fees for real estate, and non-agricultural land use taxes for the remaining allocated land area of Quy Nhon Iconic. These notices include:

1. Notice LTB2450719-TK0016748/TB-CCT dated December 13, 2024;
2. Notice LTB2450719-TK0016757/TB-CCT dated December 13, 2024;
3. Notice LTB2450719-TK0016758/TB-CCT dated December 13, 2024;
4. Notice 2426/TB-CCTKV dated December 13, 2024;
5. Notice LTB2450719-TK0016834/TB-CCT dated December 16, 2024;
6. Notice 2434/TB-CCTKV dated December 17, 2024;
7. Notice 2436/TB-CCTKV dated December 17, 2024;
8. Notice 2437/TB-CCTKV dated December 17, 2024;
9. Notice 2438/TB-CCTKV dated December 17, 2024.

Previously, Quy Nhon Iconic was qualified by the Binh Dinh Department of Construction to meet the conditions for selling off-the-plan properties in phase 1, covering 92 shop-houses. Shortly afterward, Phat Dat successfully completed sales purchase agreements with buyers for all 92 shop-houses, generating over VND 500 billion in revenue.

Quy Nhon Iconic boasts a prime location in one of the most promising areas of Quy Nhon, with a master plan offering comprehensive amenities and an upscale living environment. The project spans a vast area and caters to various customer needs. Thanks to its proximity to key transport routes, Quy Nhon Iconic provides excellent connectivity along with well-integrated amenities, including parks, commercial areas, educational institutions, and top-tier healthcare services in the region.

This is the first project in Quy Nhon to complete land use fee calculations under the new law, affirming Phat Dat’s credibility and legal competence in project development. Thus, in the product selection event on December 3, all 181 products available were fully booked. With a fast payment method for all customers, Phat Dat expects to record over VND 1 trillion in revenue from this project by Q4.2024.

All 181 products fully booked at the product selection event on December 3, 2024,

In addition to Quy Nhon Iconic, Phat Dat is actively developing several large-scale projects during the 2024-2027 period, including Q1 Tower (No. 1 Ngo May, Quy Nhon, Binh Dinh), Nhu Nguyet Commercial and Service Complex (Da Nang), Thuan An 1 & 2 Residential Complex (Binh Duong), Poulo Condo Resort Complex (Con Dao, Ba Ria – Vung Tau), and Serenity Phuoc Hai Commercial Complex (Ba Ria – Vung Tau). These projects are expected to generate total revenues of VND 50 trillion for Phat Dat by 2027.