The auction site spans an area of 10,776m2. It is bounded on the east by An Duong Vuong Street, on the west by the BMC complex, on the south by the existing residential area, and on the north by Nguyen Trung Tin Street. The intended function of the land is to develop a 5-star hotel, office space for lease, and a commercial and service center. The project cost is estimated at VND 2,500 billion, excluding land use fees for the winning bid.
The land use form is a one-time state land lease for the entire lease period through an auction of land use rights. The project has a 50-year term, commencing from the date of the competent authority’s decision to allocate land. The investor must complete all investment preparation procedures in accordance with current regulations within 12 months from the date of the Provincial People’s Committee’s decision to recognize the auction results of the land use right, and the construction time for project items must not exceed 30 months from the date of the construction permit.
Eligible participants in the auction for land use rights to implement the project include organizations and individuals who meet the conditions for participating in the auction of land use rights as prescribed by the Land Law, Asset Auction Law, and other relevant legal documents. They must register to participate in the auction of land use rights.
The auction is expected to take place in Q4/2024. The unit assigned to organize the auction is the Land Development Center under the Department of Natural Resources and Environment of Binh Dinh province.
The prime K200 land plot is planned to host a 5-star hotel, leased office space, and a commercial and service center.
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In September 2023, the Asset Auction Service Center under the Department of Justice of Binh Dinh province announced an auction of land use rights to implement a project on K200 land on An Duong Vuong Street, with a starting price of nearly VND 250 billion.
The total project investment is the sum of the project cost (m1) and the land use fee at the starting price of the auction of land use rights. Investors participating in the project must have an ownership capital of no less than 20% of the total project investment.
In addition to the K200 land project, on October 22, 2024, the Management Board of Binh Dinh Economic Zone decided to approve the adjustment of the investment policy for Project Point No. 2 (2-2) in Nhon Ly – Cat Tien beach tourism area. The total expected investment capital for this project is over VND 2,216 billion, and it will be implemented in Cat Chanh, Phu Cat district, within the Nhon Hoi Economic Zone in Binh Dinh province. The project is expected to utilize over 40.2 hectares of land. Its objectives include investing in tourism areas in accordance with the master plan, encompassing hotels, tourist villas, resorts, a square, and commercial service facilities such as restaurants, souvenir shops, karaoke bars, and general stores, as well as swimming pools and a public beach park.
The project must be completed within 60 months from the date of the decision on land lease by the state agency (including a maximum of 12 months for the completion of investment preparation procedures). The project has a 50-year term, starting from the date of the state agency’s decision to lease the land. The form of investor selection is through an auction of land use rights for project implementation.
Once operational, the project will connect seamlessly with other tourist attractions along the Nhon Ly – Cat Tien beach, including high-end destinations like Laimian Paradise, Phuong Mai Bay Resort, and Maia Quy Nhon Beach Resort. It will contribute to diversifying tourism services in the Nhon Hoi Economic Zone and promoting the local tourism potential. Additionally, the project will create regular jobs for locals, improving their income and quality of life.
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