The People’s Committee of Ba Ria – Vung Tau Province has recently issued a decision to organize an auction of land in Nghinh Phong Cape for the investment in a high-quality tourism, entertainment, and resort complex.
The land area is 13.8 hectares (located in Ward 2, Vung Tau City), with one side bordering Ha Long Street and the other three sides facing the East Sea. The total investment capital is over 10,700 billion VND. The winning bidder will pay a one-time lease fee for the entire 50-year lease period.
The investment goal is to develop a resort, entertainment, high-end commercial service complex, utilizing the existing natural landscape. The project includes a tourism and entertainment complex, hotels, and a 5-star or higher standard commercial center.
The People’s Committee of Ba Ria – Vung Tau Province has assigned the Department of Natural Resources and Environment to organize the auction and select investors. The architectural scale of the project must comply with the Partial Adjustment of the 1/2000 Master Plan for Nui Lon – Nui Nho in the Nghinh Phong Cape area. The detailed planning of the 1/500 scale will be carried out after the land auction winner is found.
Nghinh Phong Cape will become a premium tourism, entertainment, and high-end commercial service complex.
Nghinh Phong Cape is located in the South of Vung Tau City, considered as the most beautiful spot to watch the sunrise in Ba Ria – Vung Tau Province. Many visitors to Vung Tau don’t hesitate to wake up at 3 am to find a spot with a beautiful view.
Nghinh Phong Cape is one of the 7 land plots planned for auction by Ba Ria – Vung Tau Province in the second quarter of this year. In addition, there are also 3.9-hectare land plots (in Ward 11, Vung Tau City), 0.66-hectare, 0.47-hectare, and 0.68-hectare land plots (in Long Hai Town, Long Dien District), a 2.87-hectare land plot (in Thang Tam Ward, Vung Tau City – the old tourist market), and a 1.7-hectare land plot (in Phu My Ward, Phu My Town).
Previously, according to the plan for public land auction, from 2023 to 2025, Ba Ria – Vung Tau Province plans to auction 23 land plots. Specifically, in 2023, 6 land plots will be auctioned, in 2024, 14 land plots will be auctioned, and in 2025, 3 land plots will be auctioned.
However, up to now, only 7 land plots meet the conditions for infrastructure, planning, and land… to organize the auction. Among them, 6 land plots were transferred from the 2023 auction plan, and only 1 land plot out of the planned 14 land plots for the 2024 auction meets the necessary conditions for implementation.
According to the Department of Natural Resources and Environment of Ba Ria – Vung Tau Province, after reviewing the land plots planned for auction, they have noticed delays in approving procedures, determining starting prices, etc., so they have proposed to the People’s Committee of the province to adjust the auction plan to the second quarter of 2024.
Out of the 20 land plots planned for auction until the end of 2024, only 7 land plots meet the conditions, and the rest need to be processed to meet the necessary requirements.
Currently, all 7 land plots have been approved for auction plans. Among them, 5 land plots have had auction decisions made, and the remaining 2 land plots are being reviewed. At the same time, the Department of Planning and Investment has appraised and submitted to the People’s Committee of Ba Ria – Vung Tau Province for approval of the investment policy for 4 out of 6 land plots, and is currently appraising 3 land plots.
In the 2021 – 2022 period, Ba Ria – Vung Tau Province sets a plan to auction 7 land plots, with an expected revenue of about 12,293 billion VND for the provincial budget. However, the auctions cannot be organized due to many obstacles in terms of planning, infrastructure connections, site clearance, etc.
