The Department of Natural Resources and Environment of Ho Chi Minh City has reported to the Ho Chi Minh City People’s Committee regarding the adjustment of the implementation timeline for the detailed plan on organizing the auction of land and 3,790 apartments in the new urban area of Thu Thiem (Thu Duc District).
In 2018, the Ho Chi Minh City People’s Committee organized an auction for 3,790 apartments, but no organization registered to participate in the auction, so the auction was unsuccessful. |
The Department of Natural Resources and Environment has also sent a report to the Department of Planning and Investment to carry out the procedures for establishing and approving the investment policy for lots 1-2, 1-3, and 3-5. At the same time, they will develop a draft auction plan for the right to use these 3 plots of land and send it to the Task Force 3588 (the advisory task force of the Ho Chi Minh City People’s Committee) for feedback before reporting to the Ho Chi Minh City People’s Committee for approval.
Notable Timeframes
Specifically, lots 1-2 and 1-3 (belonging to functional area 1) have areas of 7,886 m2 and 5,006 m2, respectively, with a multi-functional residential planning. The legal documents must be prepared to serve the auction before May 14, and the auction is scheduled to take place before July 31.
Lot 3-5 (functional area 3) has an area of 6,446 m2, planned as a mixed-use residential apartment area (multi-functional residential land) combined with commercial and service functions. The documents for the auction must be completed before June 18, and the auction is expected to be held before September 10.
Lot 7-1 (belonging to functional area 7) has an area of 74,393 m2, planned as an international standard resort hotel, built on a small island, harmonizing with the natural landscape and vegetation. The documents and selection of the auction executing unit must be completed before October 15, and the auction is expected to take place before November 20. The expected timeframe may be adjusted depending on the auction results of the aforementioned 3 plots of land.
In addition, several other plots of land are also planned for auction, including 4 plots of land (functional area 1) – lots 1-5, 1-6 (planned as multi-functional residential areas), and lots 1-9, 1-10 (planned as multi-functional commercial areas) with a total area of 35,700 m2. These plots of land are expected to be auctioned before September 5, 2025.
The auction of 3 plots of land (belonging to functional area 3) is scheduled to take place before November 28, 2025. Specifically, lot 3-8 with an area of 8,568 m2 is planned as a residential apartment area without commercial and service functions; lot 3-9 with an area of 5,009 m2 is planned as a residential area combined with commercial and service functions; lot 3-12 with an area of 10,059 m2 is planned as a residential area combined with commercial and service functions…
Furthermore, 6 plots of land in the sports and entertainment complex will also be put up for auction.
Regarding the plan to organize the auctions for the plots of land and 3,790 apartments in the new urban area of Thu Thiem, in the report sent to the Ho Chi Minh City Committee, Secretary of the Party Central Committee and Secretary of the Ho Chi Minh City People’s Committee Phan Van Mai stated that after the auction results for the 3 plots of land (1-2, 1-3, 3-5) are available, the Ho Chi Minh City People’s Committee will instruct the relevant agencies to learn from and implement the detailed plan for the auction of the remaining plots of land.
As for the 3,790 apartments in the new urban area of Thu Thiem, the auction assets are established using funds from the state budget. To ensure strict compliance with the legal procedures and authority for deciding on the sale of state-owned assets in accordance with the law, the Ho Chi Minh City People’s Committee has directed the departments and units involved to continue proposing the legal procedures as required. Therefore, it is necessary to have time to complete the related legal procedures before the planned auction in September 2024.
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The Ho Chi Minh City People’s Committee has instructed the units to propose a report on the conversion of the resettlement fund objectives into commercial housing, establishing public ownership of shared facilities, corridors, staircases, parks, pathways, parks, and submit the report to the Ho Chi Minh City People’s Committee to establish the state ownership of state assets for auction. |
QUOC ANH
