Kinh Bac pays land use fee for Trang Cat Urban and Service Area ahead of schedule

Kinh Bac Urban Development Corporation announced on April 17 that its subsidiary has paid a land-use rights fee of VND6.86 trillion ($265.2 million) for residential land in Trang Cat Urban and Service Area.

Including a levy paid in 2020, the corporation has paid VND17.8 trillion ($688 million). Trang Cat Urban and Service Area has now collected fees for the entire long-term housing land. The project has been invested in by KBC since 2006.

The Trang Cat complex is located adjacent to the 5B Hanoi – Haiphong Highway. It takes about 50 minutes to travel from Hanoi to the urban area by car. It boasts convenient and easy access to Hai Duong, Hung Yen, Thai Binh, and Quang Ninh provinces, which are fast-growing.

Under the plan, KBC will start construction of a 50-hectare social housing area in Trang Cat Urban and Service Area in May. In the past year, SHP, a subsidiary of KBC, has become a major social housing construction company. SHP has built and handed over thousands of social housing units with a stable profit of 10 per cent. The company's social housing projects in Bac Giang, Danang, and Haiphong have provided a large amount of affordable housing.

In the first quarter, KBC signed a 68-ha land lease (accounting for over 30 per cent of the plan for the year). With more than 20 years of operations and having experienced many significant fluctuations in the domestic and foreign markets, KBC upholds stable and sustainable development with diverse business plans.

Thanh Van

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