On April 29, the People’s Committee of Ba Ria-Vung Tau Province announced its decision to approve the auction results for the usage rights of a nearly 60-hectare land lot in Wards 10 and 11, Vung Tau City.
According to the decision, Vung Tau Urban Investment and Development JSC (headquartered in Ward 10, Vung Tau City) won the auction for the aforementioned land lot with a bid of over VND 7,728 billion.
 The auctioned land lot fronts 3 Thang 2 Road, Vung Tau City. Photo: Quang Hung |
As observed by our reporters, the land lot fronts 3 Thang 2 Road, one of the three main roads leading into Vung Tau City. The remaining sides border tourism projects, residential areas, and hotels.
Previously, on April 26, the auction organizer and the Land Development Center of Ba Ria-Vung Tau Province held an auction for this land lot, with a starting price of over VND 7,628 billion.
Two enterprises participated in the auction. In the first round, both enterprises offered a price VND 50 billion higher than the starting price. In the second round, one enterprise withdrew, leaving Vung Tau Urban Investment and Development JSC as the winner with a bid of over VND 7,728 billion, a difference of VND 100 billion from the starting price.
The remaining sides of the land lot border tourism projects, residential areas, and hotels. Photo: Quang Hung |
Current state of the land lot. Photo: Quang Hung |
The specific area of the auctioned land lot is 597,475.7 square meters (equivalent to over 59.7 hectares), including over 19.1 hectares of residential land, over 35.6 hectares of commercial service land, and over 5 hectares of service-public works land.
The land will be allocated with a payment for land use rights for residential land and a one-time land rent payment for the remaining area. The land use duration is 50 years from the date of allocation.
On August 26, 2024, the People’s Committee of Vung Tau City issued Decision No. 7179/QD-UBND approving the detailed planning at a scale of 1/500 for the urban area on 3 Thang 2 Road, Wards 10 and 11, Vung Tau City. Photo: Quang Hung |
According to the Land Development Center of Ba Ria-Vung Tau Province, this land lot is planned for the implementation of the 3 Thang 2 Road Urban Area project, aiming to build a commercial and tourism-oriented urban area combined with eco-friendly and smart modern features.
The project includes a complex of adjacent houses, villas, apartments, and social housing. It will also feature commercial and service structures of varying heights, hotels, water parks, and more, catering to a population of approximately 13,000 people.
This is the land lot with the highest starting price ever offered for auction by the People’s Committee of Ba Ria-Vung Tau Province as of this date.
Quang Hung
– 13:30 29/04/2025
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