The Peninsulas’ Billion-Dollar Land Auction: Unlocking Vung Tau’s Potential

The People’s Committee of Ba Ria-Vung Tau Province has just announced 9 land plots to be auctioned off in 2024, expecting to collect over VND 10,000 billion.

Specifically, out of the 9 land plots to be auctioned for land use rights in Ba Ria-Vung Tau, 5 are located in Vung Tau City. These include the old Du Lich (Tourist) Market land plot, a 13.8-hectare land plot at Mui Nghinh Phong, a land plot retrieved from Vung Tau International Medical Initiative Co., Ltd., a 76.7-hectare land plot in the urban area on 3/2 Street, and a 1.4-hectare land plot known as “Tom Cang Xanh” (Green Mantis Shrimp).

Among these, the old Du Lich Market land plot, spanning over 2.9 hectares, will be planned for a high-end commercial, service, and tourism area. The 13.8-hectare land plot at Mui Nghinh Phong is planned for tourism services, entertainment, and resorts, while the land plot in Ward 11, retrieved from Vung Tau International Medical Initiative Co., Ltd., covers more than 4 hectares and will be planned for a hospital.

The 76.7-hectare land plot (urban area on 3/2 Street) is planned for a high-end tourism service and resort center, combining sea ecological tourism with mixed-use tourism, as well as a high-end commercial and entertainment center and urban residential area. The 1.4-hectare “Tom Cang Xanh” land plot is planned for commercial and service land use.

According to the Department of Natural Resources and Environment of Ba Ria-Vung Tau Province, the old Du Lich Market land plot in Thang Tam Ward and the land plot at Mui Nghinh Phong in Ward 2, Vung Tau City, have attracted a lot of attention. These two areas are planned for commercial and service land use and are located in the “golden” positions of Vung Tau’s tourism center.

Long Dien District has 3 land plots up for auction, including a 0.68-hectare land plot retrieved from Thanh Chi Joint Stock Company, a 0.71-hectare land plot retrieved from the Long Hai Seafood Warehouse, and a 1.11-hectare land plot retrieved from the Vietnam Sugarcane and Sugar Corporation II. All three land plots are planned for commercial, service, or tourism land use.

The last land plot is located in Phu My Town, covering an area of 1.7 hectares, and is planned for healthcare land use to implement a general hospital project with a capacity of 200 beds.

According to the Department of Natural Resources and Environment of Ba Ria-Vung Tau Province, the 9 land plots mentioned above are organized for auction by the Provincial Land Development Fund Center and have been approved by the Provincial People’s Committee in the 2024 land use plan. They have also received feedback regarding national defense and security and meet legal conditions in terms of land, planning, and infrastructure connectivity.

It is expected that after the successful auction of these land plots, the budget of Ba Ria-Vung Tau Province will collect over VND 10,000 billion, according to the temporary price of the provincial land price frame for the 5-year period of 2020-2024.