As announced by the Danang Land Development Centre on May 23, the 1,795 sq m land lot at 16 Bach Dang Street, Thach Thang Ward, Hai Chau District, will be auctioned with a starting price of over VND 173.2 million/sq m, equivalent to nearly VND 311 billion for the total area.
The land boasts a prime location at the corner of two main streets, Bach Dang and Tran Phu, by the Han River. It is zoned for high-end commercial and service facilities such as hotels, tourist apartments, and offices.
The site and surrounding infrastructure are ready for development, with land clearance completed and technical infrastructure in place. There are no assets on the land.
Notably, just a few months ago, in February 2025, the Danang People’s Committee approved the auction plan for this lot with a starting price of only VND 59.2 million/sq m. The significant adjustment to the current price (almost three times higher) reflects the special interest and potential of this land.
Previously, the land lot was leased to Construction Joint-Stock Company Bac Nam 79, owned by Vu “Nhom,” in 2014, for VND 45 billion for 50 years, with a one-time payment for the entire lease period. However, the Government Inspectorate concluded that the land allocation was not in accordance with regulations, leading to the land being seized during the investigation in 2018. It was not until May 2024 that the Danang People’s Committee issued a document lifting the temporary suspension of transactions related to Vu “Nhom.”
 16 Bach Dang land lot ready for auction. Photo: KH
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In addition to this land lot, Danang will also auction 32 residential land lots with a total area of nearly 7,062 sq m and a starting price of nearly VND 228 billion. Among them, Ngu Hanh Son District has the most with 18 lots, followed by Son Tra District with 11 lots, Cam Le District with 2 lots, and Hoa Vang District with 1 lot. The starting prices range from VND 21.2 million to VND 61.5 million per sq m, depending on the location and area.
The application and registration period for the auction is from May 22 to June 4, and the auction for the 32 residential land lots is expected to take place on June 9, 2025.
– 11:44, May 27, 2025
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