On October 9-10, the Da Nang City People’s Committee announced that Vice Chairman Phan Thai Binh signed a decision allowing Phuc Tin Service Joint Stock Company to lease the land plot at 16 Bach Dang Street (Hai Chau District) after the company successfully won the land use rights auction.
According to the decision, Phuc Tin will lease 1,795m² of commercial and service land for a 50-year term, with a one-time payment for the entire usage period. Previously, the company secured the land in an auction at a price of over 200 million VND per square meter, totaling more than 359 billion VND, nearly 49 billion VND higher than the starting price of over 310 billion VND (173.2 million VND/m²).
The 16 Bach Dang land plot is located along the Han River in Da Nang City.
Notably, compared to the February auction, the starting price was only 59.2 million VND per square meter (over 106 billion VND), indicating a significant increase in the recent auction.
The 16 Bach Dang land plot is in a prime location in the city center, with two frontages on Bach Dang and Tran Phu streets, overlooking the Han River, and directly connected to key service and tourism routes.
Previously, the land was leased to Bac Nam 79 Construction Joint Stock Company, owned by Phan Van Anh Vu (Vu “Nhom”), in 2014. However, following an inspection and investigation by the Ministry of Public Security, the asset was seized. In 2023, the Ministry of Public Security issued a document requesting the cancellation of the transaction suspension, allowing the city to dispose of the asset as per regulations.
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