Nha Trang Airport Land: A 'Diamond' Plot Lies Idle Amidst Corruption Trial

A prime piece of real estate at the former Nha Trang airport in Vietnam, envisioned as a bustling urban, commercial, and service center, lies dormant years after its handover to a developer. The 62-hectare site, strategically located along the coastal Tran Phu street, was transferred to Phuc Son Group in 2016 for a project estimated at 10,000 billion Vietnamese dong (approximately $410 million). The plan included over 1,100 residential plots, villas, and commercial facilities.

Despite initial investments in basic infrastructure like internal roads, lighting, and greenery, the majority of the land remains undeveloped and overgrown with weeds. Fenced off and locked, the site shows no signs of construction activity. This stagnation is reportedly linked to legal issues and alleged corruption involving Nguyen Van Hau, the former chairman of Phuc Son Group, and officials from the Ministry of Defense and the Khanh Hoa Provincial People's Committee.

Prosecutors allege that officials improperly transferred the 62 hectares of military land to Phuc Son Group. Hau, aware of the project's legal uncertainties, allegedly signed 983 land use rights transfer agreements with 683 individuals and organizations, collecting over 7,000 billion Vietnamese dong (approximately $285 million). The contrast is stark: vibrant high-rise buildings line the Nha Trang coast, while this valuable 'diamond' land sits empty, a testament to years of stalled development.