More than 37,000 billion VND auctioned 4 golden land lots in Thu Thiem

Avatar of Nick John By Nick John Dec20,2023 #auctioned #More #Thiem
More than 37,000 billion VND auctioned 4 golden land lots in Thu Thiem 2
More than 37,000 billion VND auctioned 4 golden land lots in Thu Thiem 2

On December 10, the Asset Auction Service Center (Ho Chi Minh City Department of Justice) organized an auction of land lot number 3 in functional area 3 (Northern residential area), Thu Thiem New Urban Area (

Attending the auctions were dozens of `giants` in the real estate sector and other large businesses such as Phat Dat Real Estate Development Joint Stock Company, Cat Tuong Real Estate Group Joint Stock Company,

Mr. Tran Quy Thanh, CEO of Tan Hiep Phat Beverage Group, was present at four auctions on December 10.

In the morning session, the Center conducted an auction of land lots with symbols 3-5.

Lot 3-5 has an area of ​​6,446 m2, starting price of more than 578 billion VND.

After that, land lot 3-8, larger than 8,500 m2, was also successfully auctioned for VND 4,000 billion, an increase of 4 times compared to the starting price.

Land areas 3-8 can be built with 4-10 floors and a basement, the maximum construction density of the podium is more than 72% and the tower block has a construction density of more than 54% of the land area.

More than 37,000 billion VND auctioned 4 golden land lots in Thu Thiem

Mr. Le Hoa Binh – Vice Chairman of Ho Chi Minh City People’s Committee took souvenir photos with representatives of Viet Star Real Estate Investment Company Limited.

In the afternoon auction, land lot 3-9 attracted 14 businesses to participate, with a starting price of more than 728 billion VND.

The land lot has an area of ​​more than 5,009 m2, the purpose of use is a mixed-use apartment complex (multi-functional residential land) with a combination of commercial and service functions.

The final auction is land lot number 3-12, starting price is more than 2,942 billion VND.

The land lot has an area of ​​nearly 10,060 m2, the purpose of use is a mixed-use apartment complex (multi-functional residential land) with a combination of commercial and service functions.

At the end of the day, all 4 plots of land were successfully auctioned for a total of 37,346 billion VND, 7 times the starting price.

Sharing at the auction, Mr. Le Hoa Binh – Vice Chairman of Ho Chi Minh City People’s Committee said that the event was carefully prepared at all stages by the relevant authorities, in the spirit of openness and transparency.

Mr. Binh said that the next auction of land plots in Thu Thiem New Urban Area is expected to take place in January 2022.

Talking to VnExpress, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), said that watching the auctions on December 10 took place in a dramatic manner, with close competition between the parties.

According to Mr. Chau, this is a great success for the city when it attracts many famous businesses to participate in the auction. Not only Ho Chi Minh City businesses but also units with parent corporations in the North also won the auction.

Chairman of HoREA analyzed that according to Thu Thiem’s ​​plan, there are about 19 plots of land scheduled for auction. With the success of 4 plots on December 10, we can hope that the remaining 15 plots will also have many opportunities to achieve success.

From this auction, we can see the huge auction potential of Ho Chi Minh City’s land resources.

According to Mr. Chau, this development may open up a trend in the near future that real estate developers may consider choosing the auction method because they do not have to worry about compensation for delayed site clearance.

`From there, the Ho Chi Minh City Land Fund Development Center also has a basis to adequately compensate for site clearance at market prices, compensate people fairly, resettle people thoughtfully, and then

More than 37,000 billion VND auctioned 4 golden land lots in Thu Thiem

Functional area 3 is located opposite District 1 across the Saigon River (between Thu Thiem bridges 1 and 2).

Located on the East bank of the Saigon River with an area of ​​657 hectares, Thu Thiem urban area is divided into 8 functional areas with separate functions.

Functional area No. 3 is a multi-functional commercial area located along the Arc Avenue.

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