Bac Ha Thanh project by Phat Dat granted construction permit for remaining infrastructure work

Following the construction permit for public works and technical infrastructure, Bac Ha Thanh project, developed by Phat Dat Real Estate Development Corporation (HOSE: PDR), has recently secured a permit from the Binh Dinh Department of Construction to implement the remaining infrastructure construction (groundwork) of Phase 1 as specified in the land allocation decision.

Bac Ha Thanh Residential and Urban Renovation Project is located in Phuoc Thuan Commune, Tuy Phuoc District, Binh Dinh Province.

On December 6, 2023, the Binh Dinh Department of Construction issued Construction Permit No. 11/GPXD for Bac Ha Thanh Residential and Urban Renovation Project by Phat Dat Real Estate Development Corporation.

Earlier, on October 17, 2023, Construction Permit No. 08/GPXD was granted by the Binh Dinh Department of Construction, specifically for public works and technical infrastructure (including green spaces, parks, and transportation) on an 114,292.2 m2 site (allocated land without associated fees).

With the latest construction permit issued on December 6, 2023, Phat Dat is authorized to construct infrastructure on a total area of 98,699.8 m2. This includes 91,433.37 m2 for housing and 7,266.43 m2 for public works, as allocated by the Provincial People’s Committee in Decision No. 3419/QD-UBND dated September 15, 2023. This decision pertains to land allocation and lease (Phase 1) to Phat Dat for the implementation of Bac Ha Thanh Residential and Urban Renovation Project in Phuoc Thuan Commune, Tuy Phuoc District, which also involves the construction of N6 Road and associated technical infrastructure along N6 Road within the framework of transportation works.

This large-scale urban development, spanning 43.16 hectares and backed by an investment of approximately VND 2.343 trillion, is progressing rapidly in the implementation of permitted items. Positioned as a pivotal project in Binh Dinh, it is poised to transform the local urban landscape, providing top-tier products tailored to the genuine needs of customers. Envisioned as a contemporary model urban area, it is expected to generate positive cash flow for Phat Dat in 2024.

Concurrently, as part of the endeavor to carry out legal procedures for its projects and launch high-quality products to the market early, Phat Dat has meticulously fortified its financial foundations for prepayment. The company is committed to fully clearing outstanding bond debts by the end of this year.