This morning, April 20 2016, the Official Signing Ceremony for “Construction Contract – Transfer of the Infrastructure Development Project at Northern Residential Area and Completion of the North-South Axis Road in Thu Thiem New Urban Township” between CII and Ho Chi Minh City People’s Committee took place at Ho Chi Minh City People’s Committee Office.

As payment for Thu Thiem infrastructure development BT project, CII has received land transfer and land leasing resolution from Ho Chi Minh City People’s Committee. Accordingly, Ho Chi Minh People’s Committee transfers to CII 90,078.3 m2 land designated for long-term use (for residential purpose) and 6,053.6 m2 land designated for 50-year lease (for office space usage); all land lease payment will be made at once for the entire lease term. 

The official singing of Thu Thiem BT contract marked an important milestone for CII, assuring CII with solid legal foundation to continue progressing with investment and infrastructure development work in Thu Thiem, and, meanwhile, to start preparing to develop the land assigned after all actual land transfer is completed.