Hanoi People’s Committee Approves Results of Land Auction for Low-Rise Housing Project in Hoang Mai District
The Hanoi People’s Committee has recently announced the approval of auction results for land use rights to develop a low-rise housing project in the Nam Ho Linh Dam Urban Area, Hoang Liet Ward, Hoang Mai District (phase 1). The successful bidder was Song Loc Real Estate Investment Joint Stock Company.
Prior to this, Lac Viet Partnership Auction Company, in collaboration with the Hoang Mai District Land Development Center, organized a land auction for the implementation of the low-rise housing project on a land plot coded TT4 in the Nam Ho Linh Dam Urban Area.
The auctioned land has a total area of 43,944 square meters, including 20,061 square meters of residential land, 20,759 square meters of traffic land, and over 3,123 square meters of green space. The residential land area corresponds to 10 blocks and 262 land lots, with a construction density of about 49.7%, and a height of 4 floors.
Linh Dam Peninsula, Hoang Mai District, Hanoi. Source: VNExpress
According to the auction notice, the starting price for the first round was over VND 86 million per square meter. The starting price for the second round and subsequent rounds was equal to the highest valid bid in the previous round. The bidding increment was VND 500,000 per square meter, and the estimated deposit for participating in the auction was over VND 345 billion.
Song Loc Real Estate Investment Joint Stock Company won the auction with a bid of over VND 91 million per square meter, VND 5 million higher than the starting price. The total winning bid amount was over VND 1,827 billion.
The Hanoi People’s Committee assigned the Tax Department of Hoang Mai District to collect and submit the proceeds from the auction, as well as any penalties for late payment, to the state budget as stipulated.
In the event that the winner fails to pay or fails to pay the full amount of the winning bid within 120 days from the approval of the auction results, the Hoang Mai District Tax Department is responsible for notifying the Department of Natural Resources and Environment to propose the cancellation of the auction results to the City People’s Committee. The winner will not receive a refund of the deposit. If the winner has paid more than the deposit, the excess amount will be refunded by the State as per regulations.
Regarding the successful bidder, Song Loc Real Estate Investment Joint Stock Company was established on May 21, 2020, with its headquarters located at 15/24/8 Pham Mai Street, Pham Mai Ward, Dong Da District, Hanoi.
The legal representative is Pham Han Mai Yen, born in 1980, holding the position of Director. The company has a charter capital of VND 20 billion. In September 2020, the company increased its charter capital to VND 180 billion.
By March 2021, the company’s legal representative was Le Thu Trang, born in 1985, holding the position of General Director and Director. In June 2021, the company raised its capital from VND 180 billion to VND 300 billion.
In March 2022, the company increased its charter capital from VND 300 billion to VND 550 billion. At the same time, the company relocated its headquarters to Villa PL01-35, Vinhomes The Harmony Urban Ecological Area, Phuc Dong Ward, Long Bien District, Hanoi.
The latest update as of December 13, 2024, shows that the company has increased its charter capital from VND 550 billion to VND 630 billion. The total number of employees according to tax registration is 7 people.
