In late 2012, the Phu Quoc International Airport was inaugurated, rendering the old airport, built during the French colonial era, obsolete. The vast 78.88-hectare plot of land lay abandoned until November 2022, when the People’s Committee of Kien Giang (now An Giang) province established a steering committee and task force to oversee the auction of the land use rights.
Phu Quoc Old Airport Site Expected to Fetch VND 35,000 Billion at Auction
On August 1, the An Giang Land Development Center reported to the provincial People’s Committee on the review of the land auction of the old Phu Quoc airport site. The review revealed that the site currently does not meet the conditions for auction due to incomplete legal documents and procedures.
One of the main reasons is that during the management transfer to the People’s Committee of Phu Quoc City (now Phu Quoc Special Administrative Region), a number of households encroached upon and illegally built houses on the land, which has not been resolved conclusively. Additionally, the detailed 1/500 planning for the site has not been approved by the competent authority.
Furthermore, according to the Investment Law, the project of the old Phu Quoc airport site must obtain investment approval before organizing the land use right auction, and after the auction, the investor approval procedures must be carried out in accordance with regulations.
To facilitate the auction of the old Phu Quoc airport site, the Land Development Center proposed that the provincial People’s Committee direct the departments, sectors, and Phu Quoc Special Administrative Region to urgently advise on the reorganization of the steering committee and task force for the land auction. They also recommended conducting a specific land price appraisal through the provincial Land Price Council for approval of the starting price for the auction.
According to the An Giang Land Development Center, the expected revenue from the auction of the old Phu Quoc airport site is approximately VND 35,000 billion.
For many years, this area has been used as a parking lot and driving practice area, and at one point, it became a gathering spot for social vices such as drug abuse.
According to the old plan, the Phu Quoc old airport site had a maximum construction height of 29 floors and a land use coefficient of up to 12 times, with only about 1.9 hectares allocated for residential use and over 17 hectares for mixed-use development.
In the latest adjustment, the site is envisioned as a mixed-use urban-resort, commercial, and financial area with a series of buildings up to 99 floors. The land use coefficient has been adjusted to a maximum of 13 times, and for special lots with unique architectural and landscape requirements, serving as iconic landmarks for the entire Phu Quoc Island, the coefficient can go up to 18 times.
Rendering of the mixed-use urban-resort, commercial, and financial area with buildings up to 99 floors at the Phu Quoc old airport site
Phu Quoc old airport site: Past and future
The Phu Quoc old airport site is awaiting the completion of legal procedures for the auction, with expected revenue of VND 35,000 billion from the land auction.
Reporters noted that the old Phu Quoc airport site has completed the construction of the main Vo Van Kiet road, with vacant land on both sides. This road stretches from east to west, connecting Ho Chi Minh Square with the Phu Quoc International Passenger Port.
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