The Da Nang People’s Committee has recently approved the auction plan for the land use rights of Lot 16 Bach Dang, Hai Chau District.
The lot is located on a prime spot with frontage on both Bach Dang and Tran Phu Streets, overlooking the Han River. It spans an area of 1,795 square meters and is zoned for commercial and service use, with permitted structures including offices, high-end hotels, tourist apartments, and other tourism-related services.
The starting price for the land is expected to be VND 59.2 million per square meter, totaling over VND 106 billion.
Lot 16 Bach Dang to be auctioned. Photo: KH
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Bidders are required to submit a deposit equivalent to 20% of the total land value based on the starting price.
The auction winner will be responsible for implementing the approved investment project. The projected investment for the project is over VND 300 billion, and the expected completion time is 24 months from the date of the city’s decision to lease the land.
The auction plan also encourages the winner to consider increasing the building setback beyond the minimum requirement to create a more open and green space, as well as provide additional parking areas.
According to the land price framework for Da Nang city for the period of 2020-2024, Bach Dang Street commands a high price, with rates exceeding VND 140 million per square meter.
This lot was previously involved in the case of Phan Van Anh Vu, commonly known as Vu “Nhom.”
In 2014, the Da Nang city government leased the land to Construction Joint Stock Company Bac Nam 79, owned by Phan Van Anh Vu, for a period of 50 years. The land lease and sale of the existing house and structures were priced at VND 45 billion, paid in a lump sum for the entire lease period.
The Government Inspectorate concluded that the lease of the property located at 16 Bach Dang by the Da Nang authorities was not in accordance with regulations.
In 2018, the Ministry of Public Security investigated cases in Da Nang City related to Phan Van Anh Vu, and this lot was among the assets seized in connection with his case.
In 2023, the Ministry of Public Security sent a document to the Da Nang People’s Committee regarding the cancellation of the temporary suspension of transactions involving assets of companies related to Mr. Phan Van Anh Vu.
In May 2024, the Da Nang People’s Committee sent a document to relevant agencies and units regarding the lifting of the temporary suspension of transactions involving assets of companies related to Phan Van Anh Vu and his wife.
Ho Giap
– 18:39 23/02/2025
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