On July 19, the People’s Committee of Da Lat City, Lam Dong Province, approved the plan to organize an auction for the lease of Thuy Ta Restaurant, which includes the right to lease the land on a yearly basis. The restaurant is located in Ward 1.
Thuy Ta Restaurant is one of two floating islands in the National Scenic Site of Xuan Huong Lake.
According to the plan, the total area of the restaurant and its land is 3,876 square meters, including a covered area of over 383 square meters, flower beds spanning more than 893 square meters, and a courtyard of nearly 2,600 square meters. The assets attached to the land include a two-story building with a construction area of nearly 268 square meters.
In terms of planning and architectural indices, the winning bidder must maintain the current state and is not allowed to build additional structures on this prime land. As Thuy Ta Restaurant falls within Zone I of the National Scenic Site of Xuan Huong Lake, its name is intrinsically linked to the structure of this nationally recognized scenic spot. Therefore, any change to this toponym falls under the jurisdiction of central government agencies and not the People’s Committee of Da Lat City.
Da Lat City also proposed leasing the property as-is, without allowing any additions, new constructions, or insertions of structures—except in cases where urban design is locally adjusted. The winning bidder is only permitted to repair, renovate, and upgrade the interior space and color scheme of the restaurant while maintaining its white paint and restoring its wooden doors. Prior to any major repairs or renovations that may affect the load-bearing structure, written approval must be obtained from the lessor, and a construction permit must be granted by the Construction Department after their review.
The winning bidder will lease the property for a period of 10 years for commercial and service purposes (restaurant business). The starting bid for the auction is set at over VND 3.645 billion per year, including VND 3.267 billion for land lease and VND 378 million for building lease. The auction is expected to take place at the Da Lat City Administrative Center, with a bidding format that involves oral bidding and an increment of VND 150 million per bid.
Any change to the toponym “Thuy Ta Restaurant” requires the approval of central government agencies.
Bidders must submit a deposit equivalent to 20% of the starting bid, amounting to nearly VND 730 million. They must also provide a written commitment to fulfill their financial obligations as per the auction results and the subsequent lease agreement. In the event of a winning bid, the full payment for the entire lease period must be made upfront. Regarding the lease of the water surface area, the winning bidder needs to coordinate with the unit managing the water body to reach a separate agreement.
If the winning bidder fails to pay or does not pay the full amount within 60 days after the auction, the People’s Committee of Da Lat City reserves the right to terminate the lease agreement and request the People’s Committee of Lam Dong Province to annul the decision recognizing the auction results. In such a case, the winning bidder will not be refunded their deposit.
Regarding the auction of the lease for Thuy Ta Restaurant, representatives of Dalat Tourist Joint Stock Company, which currently manages and operates the restaurant, asserted that their lease agreement for the restaurant had expired at the end of 2020, while the land lease agreement is valid until 2046.
According to the terms of the lease agreement, Dalat Tourist has the right of first refusal when the contract expires. Therefore, allowing the company to continue the lease would be consistent with the land lease and in line with the treatment of state-owned assets. Moreover, the assets and land of Thuy Ta Restaurant are not subject to rearrangement or disposal, nor do they fall under the category of land subject to revocation.
Consequently, Dalat Tourist believes that putting the restaurant and its land up for auction at this time is not in accordance with legal regulations and may adversely affect the company’s rights and legitimate interests.
Previously, on October 30, 2023, the lease for the restaurant and its land was auctioned for the first time. Mr. Doan Hai Ha from Hanoi outbid several large corporations and won the auction with a bid of VND 15.15 billion per year. However, he subsequently forfeited his deposit.
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