Dong Nai authorities seize prime land in Tran Bien ward

Authorities in Tran Bien ward, Dong Nai City, have carried out a forced seizure of a prime land area measuring approximately 14 hectares. The land, located near busy streets including Vo Thi Sau, was previously owned by the Tan Mai Paper Company and served as collateral for bank loans.

In 2015, the land was auctioned as a bad debt asset by Vietcombank - Dong Nai Branch for 270 billion VND. Hung Thinh Construction Production Trading Joint Stock Company won the auction, subsequently forming Tan Mai Real Estate Joint Stock Company with the Tan Mai Group.

Local officials stated that while the company purchased the assets on the land, the land itself remained under a lease from the state. Following the expiration of the lease, the government decided to reclaim the land for re-auctioning. Although the company filed a lawsuit to contest the reclamation, the first-instance court dismissed the case. Consequently, authorities proceeded with the administrative penalties and the seizure to hand the land over to the Dong Nai City Land Fund Development Center.