Parcel B of Gamuda City belongs to the Vietnam government, developer clarifies

HANOI, Vietnam (May 23): Gamuda Land Vietnam has clarified that the 200ha of land meant for Parcel B of Gamuda City, Hanoi belongs to the Vietnamese government. The parcel has yet to be handed over to the developer for development, according to a statement by Gamuda Land today.

The company was clarifying a report saying Parcel B would be “returned” to the government. However, the parcel has all along belonged to the government of Vietnam.

“As the Vietnam government is unable to proceed with the resettlement of the current occupiers, the land will not be handed over to Gamuda Land Vietnam for development,” read the statement.

The proposed plan for Parcel B was for commercial developments which will occupy only 9% of the 200ha while the rest of the site comprises parks and lakes.

The projected US$2.5 billion (RM10.77 billion) gross development value (GDV) for Gamuda City does not account for Parcel B, the developer added. 

Excluding Parcel B, Gamuda City has a total of 172ha for development.