On October 2nd, the Dong Nai Provincial Land Fund Development Center held an auction for land use rights for two plots in Binh An commune, with a starting price of over 6.5 trillion VND.
The first plot, spanning 77.28 hectares, is designated for a commercial center, services, and residential areas. Approximately 38 hectares were auctioned, including residential land, social infrastructure land, and commercial service land. The remaining area, comprising transportation, greenery, and technical infrastructure, will be allocated without charge for investors to develop synchronized infrastructure before handing it over to local authorities.
The starting price for this plot was 4.7 trillion VND. After three rounds, a real estate joint-stock company successfully bid for the land with a final price of 4.897 trillion VND.
The auction took place on October 2nd. Photo: Construction Newspaper
The second plot, covering over 35.64 hectares, is planned as a residential area. More than 17 hectares were auctioned, including residential land, educational facilities, healthcare, and cultural land. The starting price for the second plot was over 1.7 trillion VND, and a company successfully bid for it with a final price of over 1.811 trillion VND.
The remaining portion of the land, primarily technical infrastructure, was not auctioned. Most of this area is vacant land, with some rubber trees awaiting liquidation and an old administrative office building.
These two prime plots are adjacent to National Highway 51, the Bien Hoa – Vung Tau Expressway, and near Long Thanh Airport.
According to the Director of the Dong Nai Provincial Land Fund Development Center, in recent years, the locality has faced challenges in land auctions. The main reasons identified are the sluggish real estate market and some plots not yet completing the necessary legal procedures for auction.
Not long ago, the Dong Nai Provincial Land Fund Development Center successfully auctioned a nearly 500m² plot in Tam Hiep Ward; the winning bidder paid over 34 billion VND for the plot. This was the first successful land auction in Dong Nai Province since 2021.
As planned, from now until the end of 2025, the Dong Nai Provincial Land Fund Development Center will auction 40 plots, including several large-scale residential projects, with an expected revenue of approximately 20 trillion VND. This will contribute to achieving Dong Nai Province’s 2025 budget collection target.
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