The decision to revoke the land for the Dalat Plaza project in Da Lat city, Lam Dong province, is drawing public attention. The project was not only revoked due to violations of the Land Law but also linked to a major economic case involving Ms. Truong My Lan.
Dalat Plaza Project Site on Phan Nhu Thach Street, Ward 1, Da Lat City, Lam Dong Province (Photo: Minh Hau).
Reasons for Revoking the Dalat Plaza Project
The People’s Committee of Lam Dong province issued a decision to reclaim nearly 3,400 square meters of land previously granted to Delta Tourism Joint Stock Company (Delta Company). The primary reason is that the company failed to use the land after being granted multiple extensions according to legal regulations.
The Dalat Plaza project was approved by the People’s Committee of Lam Dong province in 2007 with the goal of building an integrated hotel and commercial center complex. The planned facilities included internal traffic systems, parking lots, water supply and drainage systems, and a 14-story service building. The initial estimated investment capital was approximately 267 billion VND.
However, over more than a decade since the land was allocated, Delta Company did not commence any construction activities. This led to the Department of Natural Resources and Environment of Lam Dong province recommending the reclamation of the land on May 3, 2024. The final decision was approved and implemented by the provincial government in 2025.
A corner of the Dalat Plaza Project site (Photo: Minh Hau).
SCB’s Statement
In related developments, Saigon Commercial Joint Stock Bank (SCB) submitted a document requesting the People’s Committee of Lam Dong province to halt the land reclamation process and cease project operations. SCB stated that the Dalat Plaza project had been used as collateral for a loan extended to a company involved in Ms. Truong My Lan’s economic case.
According to the bank, the reclamation of the land would severely impact their ability to recover debts. Additionally, this decision could alter the status of the collateral, complicating the ongoing investigation into the economic case.
Consequences and Lessons from the Case
The revocation of the Dalat Plaza project highlights not only the shortcomings in project management and execution by the enterprise but also raises questions about the accountability of regulatory agencies in overseeing the use of public land.
1. Lessons in Land Management
Current laws require developers to put land into use within specified deadlines. The repeated extensions without commencing the project, as seen with Delta Company, not only waste valuable resources but also affect community interests.
2. Economic and Social Impacts
The Dalat Plaza project was once expected to become a key tourism and commercial landmark in Da Lat. However, prolonged delays have caused missed development opportunities and economic resource loss for the local area.
3. Links to the Economic Case
With the involvement of Ms. Truong My Lan’s case, the situation becomes more complicated when the collateral is reclaimed. This requires close coordination among authorities to ensure compliance with land laws while addressing financial and legal issues.
Dalat Plaza Project, developed by Delta Company, was reclaimed due to violations of the Land Law (Photo: Minh Hau).
Conclusion
The revocation of the Dalat Plaza project serves as a notable lesson on the importance of adhering to land laws and efficient resource management. For investors, it is a reminder of their responsibility to proceed with projects on schedule.
To prevent similar cases in the future, enhanced supervision and strict handling of land use violations are necessary. Regulatory bodies must also carefully consider the implications before deciding on land reclamation, especially in cases involving collateral or complex legal issues.
Interested readers can find more information about land laws or updates on the case on the official website of the People’s Committee of Lam Dong province.
References:
- Dan Tri online newspaper
- Information from the People’s Committee of Lam Dong province
