Ho Chi Minh City has approved a new auction of land-use rights for three plots in the Thu Thiem New Urban Area in An Khanh Ward. The plots cover more than 23,600 square metres in total, with combined starting prices above VND 14.5 trillion.
The plots, numbered 1.K3.5.HH, 1.K3.1.OD and 1.K3.3.HH, will be auctioned at starting prices of more than VND 10.198 trillion, VND 2.632 trillion and nearly VND 1.745 trillion, respectively.
Plot 1.K3.5.HH covers more than 10,000 square metres and is planned for a mixed-use development with housing and services. Housing will account for 95% of the project. It may be built up to 25 storeys and is planned for about 3,420 residents.
Plot 1.K3.1.OD is planned for a residential development of up to 10 storeys with about 1,067 residents. Plot 1.K3.3.HH covers more than 5,000 square metres and is planned for a housing and services complex of up to 10 storeys, with about 811 residents.
Under the approved plan, the state will lease the plots for a fee through the auction, for 50 years from the date of the land-allocation decision for the winning investor. After winning, the investor must complete procedures covering investment, construction, land, housing and real-estate business as required by law.
The auction winner must also complete procedures related to investment, construction, land, housing, real-estate business and other relevant matters. For a company entering the auction to develop a real-estate business project, equity must be at least 20% of the expected investment because the projects use less than 20 hectares of land.
The minimum equity requirement is more than VND 2.393 trillion for plot 1.K3.5.HH, more than VND 587 billion for plot 1.K3.1.OD and more than VND 410 billion for plot 1.K3.3.HH.
The Department of Agriculture and Environment was assigned to organise the auction with the Ho Chi Minh City Land Fund Development Centre and relevant agencies, check participants' eligibility and ensure transparency and compliance with the law.
The plots were previously auctioned in 2021 under the names 3-12, 3-9 and 3-8. Their starting prices were VND 2.942 trillion, VND 728 billion and VND 1.018 trillion, respectively. The results were later cancelled because the winning companies failed to meet their financial obligations.
Sources: Dân Trí
