Explaining the decision, the department said that the project developer, BRG Group, was no longer allowed to use the project location, and they also failed to offer a new investment location within six months of the revocation of land usage rights.
Last year, BRG Group also made a request to halt the project implementation in order to restart necessary procedures for investment in another location.
The project plan was approved in 2018. It consisted of with eight floors and an 80 percent construction density. The plan was announced in May 2019 on an area of nearly 30,000 square metres at 151-153 Yen Phu Street, Tay Ho District.
The project was planned to be completed in 2020, and would have become Sanrio’s first entertainment complex in Southeast Asia.
However, no construction work has been carried out for the past four years.
