CTCP Quoc Cuong Gia Lai (QCG) has restarted its real estate and marina project in Da Nang (Marina Complex) after 6 years of halted construction. CEO Nguyen Quoc Cuong shared images of the restart on social media. This project, led by QCG’s subsidiary, is considered to have complete legal status and is expected to begin sales in Q4 2024 or Q1 2025, potentially yielding up to 1,000 billion VND in revenue. QCG’s stock has surged significantly since mid-January, recording a 27.6% increase after a prolonged slump, with two consecutive trading sessions reaching the ceiling price in early March. The Marina Complex spans 11.7 hectares, with phase 1 launched in 2016 featuring over 100 shophouses, but faced delays due to public concerns over impacts on the flow of the Han River. The project was approved in 2009 and has undergone several regulatory adjustments.
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