Accelerate the finalization of legal processes for the Euro Villas project

At the Euro Villas project, the investor HVC Hoa Binh is presently engaged in active collaboration with the management authorities of Hoa Binh province to expedite the finalization of legal procedures and attain significant advancements.

Recently, the Garden Villas, Forest Plantation, and Eco-tourism project in Mong Hoa Commune, Hoa Binh City, Hoa Binh Province (commercially known as Euro Villas) has been actively coordinated by the investor, HVC Investment Company Limited, and Hoa Binh Sword Lake (HVC Hoa Binh, a subsidiary of HVC Group), in collaboration with relevant departments in Hoa Binh to expedite the completion of legal procedures.

Recently, HVC Hoa Binh received Decision No. 63/QD-UBND from the People's Committee of Hoa Binh Province, which approves the adjustment of the project investment schedule. Specifically, the timeline for basic construction and the commencement of project operations or exploitation has been revised to the period from 2023 to early 2028.

In February 2025, HVC Hòa Bình fulfilled its obligation to plant replacement forests following a change in land use. On May 20, HVC Hòa Bình received Decision No. 1167/QĐ-UBND from the People's Committee of Hòa Bình Province regarding the conversion of 3.54 hectares of forest for other purposes to implement the Euro Villas project.

Previously, the conversion of forest land for other purposes was often regarded as a significant barrier to numerous real estate investment projects. Therefore, Decision No. 1167/QĐ-UBND not only affirms the approval of Hoa Binh Province for the overall planning of Euro Villas but also provides sufficient clean land resources necessary for the implementation of the planned components, ensuring the project's coherence and comprehensiveness.

In recent times, HVC Hòa Bình, in collaboration with the Hòa Bình Land Development Center, has conducted a comprehensive survey, measurement, and inventory of the entire project. Recently, on June 9th, the People's Committee of Hòa Bình City issued Decision 2867/QĐ-UBND approving the compensation, support, and resettlement plan for the Euro Villas project following the state's land acquisition.

Immediately after the issuance of the decision, HVC Hòa Bình swiftly implemented a comprehensive plan, working in close partnership with local authorities to finalize the subsequent steps in the land recovery process. Currently, the investor is executing the initial phase of compensation payments for land clearance to the affected households. This payment process is anticipated to continue for seven days, after which HVC Hòa Bình will obtain the land recovery decision.

Simultaneously, the investor submitted the Environmental Impact Assessment Report to the Department of Agriculture and Environment of Hoa Binh province, which is anticipated to receive acceptance and approval in June 2025. Concerning the documentation submitted for the appraisal of the Feasibility Study Report for project investment, HVC Hoa Binh is currently in the process of supplementing and finalizing it for review and approval by the Department of Construction of Hoa Binh province.

With the robust legal framework that has been established, HVC Hòa Bình is committed to initiating the project at the earliest opportunity, with the goal of establishing Euro Villas as a prominent entity in the Hòa Bình real estate market, pledging to provide a luxurious living and resort experience at the gateway to the Northwest region.