The auction winner, Quy Nhon Ngoc Tin Company Limited (referred to as Ngoc Tin Quy Nhon Company – a member unit of Ngoc Tin Investment Group Joint Stock Company), is located in Group 3, Area 1, Ghềnh Ráng Ward, Quy Nhon City.
Planning of the Tay Nam Nhon Ly Urban Area. Photo: Binh Dinh Economic Zone Management Board.
With a starting price of VND 537,436 billion, Ngoc Tin Quy Nhon Company won the auction with a winning bid of VND 548,185 billion.
The winning bid was VND 10,749 billion higher than the starting price, achieving the target revenue in the land-use right auction plan approved by the Binh Dinh Economic Zone Management Board (expected revenue increase of 2% to 10% compared to the approved starting price, resulting in a 2% increase).
The Cat Tien Project was officially started by Ngoc Tin Group on July 28, 2024 (in the picture: Leaders of Binh Dinh Provincial People’s Committee and Leaders of the Group perform the groundbreaking ceremony)
The Binh Dinh Provincial People’s Committee directs the Economic Zone Management Board, the Department of Planning and Investment, the Department of Construction, and related agencies and units to guide and urge Ngoc Tin Quy Nhon Company to implement the project as prescribed, ensuring the progress within 72 months from the date of the land and lease decision.
The Tay Nam Nhon Ly Urban Area project was approved for investment adjustment by the Binh Dinh Economic Zone Management Board on September 25, 2024; and was put up for auction on November 23, 2024.
The Tay Nam Nhon Ly Urban Area project is located in the planning of Nhon Hoi Tourism Urban Area (Sub-area 03), Nhon Hoi Economic Zone, Nhon Ly commune, Quy Nhon city, with an area of over 21.3 ha (5.9 ha of residential land and over 1.7 ha of commercial service land)
It is known that the total investment of the project will include a minimum capital investment (excluding the land-use right auction price) of VND 2,264 billion plus the land use fee, the land rent paid once for the whole lease term according to the starting price of the land-use right auction.
The project has a total of 106 semi-detached houses combined with commercial services, 229 villas, and 300 social apartments. In addition, the project also includes a 9-storey hotel and a 3-storey auxiliary service building…
Thus, after 5 auction notices for land-use rights in 2024 (January 13, March 2, April 25, June 1, and July 27) and reducing the starting price of the asset from over VND 639.6 billion to VND 537,436 billion, Binh Dinh has found an investor for the Tay Nam Nhon Ly Urban Area project.
In Binh Dinh province, Ngoc Tin Group is implementing projects such as the International Bai Xep Beach Resort Project and the Cat Tien Residential Area 05 Project located in Point No. 3, along the road axis of the extended Economic Zone, Cat Tien town, Phu Cat district, Binh Dinh province…
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