On April 25, the People’s Committee of Binh Dinh Province approved the plan for auctioning land use rights for the implementation of a mixed-use apartment building project at 72B Tay Son Street, Ghềnh Ráng Ward, Quy Nhon City.
This is one of the most prime locations in the city, boasting four street frontages on Tay Son, Tong Phuoc Pho, Be Van Dan, and Dao Phan Duan Roads.
 Project implementation area
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The total area of land put up for auction is 7,094 square meters, of which 6,307 square meters are allocated for the construction of mixed-use apartment buildings, with the remaining area designated for transportation and technical infrastructure.
The project’s scale involves the construction of a maximum of four basement levels and 46 floors above ground, including a maximum of three floors for the podium and 43 floors for the tower. The total investment cost exceeds VND 3,178 billion, excluding land use fees from the auction.
The land use term is 50 years from the date of land handover to the investor, and apartment owners are granted stable long-term land use rights.
In terms of progress, the Provincial People’s Committee requires that within 12 months from the date of auction result approval, the investor must complete the investment preparation procedures for construction commencement. The construction period should not exceed 30 months from the date of obtaining the construction permit.
Upon completion, the project will not only increase the supply of high-rise housing in the coastal city but is also expected to contribute to urban renovation towards modernity and civilization, in line with the strategy of expanding urban space and attracting diverse residents to Quy Nhon.
– 14:59 27/05/2025
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