The Ho Chi Minh City People’s Committee has issued a directive from the Chairman regarding the auction of land use rights for plots in the Thu Thiem New Urban Area.
Accordingly, Chairman Nguyen Van Duoc has tasked the Department of Agriculture and Environment (DAE) with leading and coordinating the Land Fund Development Center and relevant agencies to develop a detailed auction plan for the plots in the Thu Thiem New Urban Area.
Once the plan is finalized, it must be submitted to the Standing Committee of the Party Committee of the People’s Committee and the Standing Committee of the City Party Committee for review and approval of the auction initiative scheduled for 2026. This applies to plots with completed surrounding transportation connections.
The plots eligible for land use rights auction, as per Article 125, Clause 2 of the 2024 Land Law, include:
Plots 3-8, 3-9, 3-12 in Functional Zone 3; Plots 7-1, 7-17 in Functional Zone 7; Plot 1-12 in Functional Zone 1; and Plot 4-21 in Functional Zone 4.
Additionally, the Chairman has directed the An Khanh Ward People’s Committee and the Urban Development Management Board to expedite compensation and land clearance for Plot 1-20. This will enable the DAE and Land Fund Development Center to propose an auction plan as required.
Selected plots in Thu Thiem slated for re-auction
Simultaneously, the completion of technical infrastructure and investment proposals for Plots 3-17 (Functional Zone 3) and 5-3 (Functional Zone 5) must be submitted to the People’s Committee for approval.
The Department of Finance is tasked with compiling an investment solicitation list and conducting land-based project bidding for plots within the Sports and Entertainment Complex in Functional Zone 2c, as well as Plots 8-1, 8-2, and 8-3 in the Ecological Park project.
Among the seven plots, Plots 3-8, 3-9, and 3-12 in Functional Zone 3 were previously auctioned by the city in December 2021.
Plot 3-8, spanning over 8,500 m², was successfully auctioned for VND 4 trillion. Plot 3-9, with an area of 5,009.1 m², fetched VND 5.026 trillion. Plot 3-12, covering 10,059.7 m², was auctioned for VND 24.5 trillion.
However, the winning bidders for these plots subsequently forfeited their deposits.
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