KITA Invest (a member of KITA Group) announced that it is continuing to complete the infrastructure of the Stella Mega City project in accordance with the approved 1/500 master plan.
A representative of the project developer stated that the company is currently carrying out procedures to transfer the project ownership from the former project owner to the auction-winning entity, KITA Invest Joint Stock Company. KITA Invest and KITA Group strictly comply with all legal regulations to ensure the project’s legal status and maximize the rights and interests of customers.
Accordingly, KITA Invest Joint Stock Company is the auction winner and has become the lawful owner/user of the asset comprising 602,225.8 square meters of land, for which the company is in the process of applying for Land Use Right Certificates. At the same time, the enterprise has fully completed 100% of the payment obligations for the entire auctioned asset.
Based on this, KITA Invest Joint Stock Company and Sacombank (under authorization from Ngan Thuan Construction Co., Ltd.) notarized the contract for the sale of the auctioned assets covering the entire auctioned property. In addition, Ngan Thuan Construction Co., Ltd. voluntarily handed over the site for the full land area.
It is known that in February 2020, the Land Registration Office under the Department of Natural Resources and Environment of Can Tho City processed the transfer of ownership to KITA Invest for 663 Land Use Right Certificates. On February 26, 2020, the Land Registration Office under the Department of Natural Resources and Environment of Can Tho City also received documents for the transfer of an additional 1,305 Land Use Right Certificates to KITA Invest.
The legal procedures related to the entire auctioned asset have been and are being carried out for transfer to KITA Invest in full compliance with the law. To date, the transfer has been completed for 487 Land Use Right Certificates in the name of KITA Invest (with one transferred certificate attached). The next step is to complete the transfer for the remaining 663 certificates, followed by the subsequent batch of 1,305 certificates (with receipt documents from the Department of Natural Resources and Environment of Can Tho City attached).
The Housing and Real Estate Market Management Division of the Can Tho Department of Construction further advised KITA Invest to closely coordinate with distribution agencies to ensure that accurate project information is conveyed to customers. At the same time, local authorities highly welcome and support KITA Group, as the enterprise is creating many jobs for local residents through the implementation of the Stella Mega City project.
