The Department of Agriculture and Environment of Ho Chi Minh City has announced that the city is expediting preparations for the auction of three prime land plots in the Thu Thiem New Urban Area this December.
Aerial view of the three prime land plots in Functional Zones 1 and 3 up for auction.
These three plots, located in Functional Zones 1 and 3, are highly sought-after due to their prime locations, each boasting four road frontages.
Specifically, Plot 1.2 spans 7,886 m² and is designated for a multi-functional residential area with 205 apartments. Plot 1.3 covers 5,006 m² and is planned for a similar multi-functional residential area with 152 apartments. Both plots are being auctioned for the first time.
Plot 3.5, measuring 6,446 m², is zoned for a mixed-use residential and commercial complex with 76 apartments, accommodating up to 608 residents. This plot was previously auctioned in December 2021 for VND 3.82 trillion, 6.6 times its starting price. However, the winning bidder, Dream Republic Corporation, failed to meet financial obligations, leading to the auction result being voided.
The combined starting price for these three prime plots is set at VND 5.7 trillion. According to the Department of Agriculture and Environment, this pricing aligns with the new land price table under the 2024 Land Law.
Plot 3.5’s starting price is higher than in 2021 to reflect market dynamics. Plots 1.2 and 1.3 are priced based on their prime locations and potential for commercial and residential development.
Plot 1.2: 7,886 m², planned for a multi-functional residential area with 205 apartments.
Plot 3.5: 6,446 m², zoned for mixed-use residential and commercial development.
Aerial view of the three prime land plots up for auction in Thu Thiem.
Plot 1.3: 5,006 m², planned for a multi-functional residential area with 152 apartments.
Plot 1.3: 5,006.6 m², surrounded by R12, To Huu, N12, and D10 roads.
Plot 1.3: 5,006 m², planned for a multi-functional residential area with 152 apartments.
The auction, originally scheduled for Q2, was postponed to ensure feasibility and effectiveness. Given their prime locations, high development potential, and notable auction history, these plots are expected to attract significant interest from domestic and international investors.
The December auction of these prime plots not only offers opportunities for investors but also marks a strategic milestone for Ho Chi Minh City in developing a modern, integrated new urban area with advanced infrastructure and services.
The auction results will lay a crucial foundation, ensuring budget revenue while bolstering market confidence and sustainable development for the Thu Thiem New Urban Area and Ho Chi Minh City as a whole.
Aerial view of the three prime plots, all with four road frontages, including To Huu Street.
In addition to these three plots, Thu Thiem has 49 more plots planned for auction in the coming years.
Aerial view of the three prime land plots up for auction in the Thu Thiem New Urban Area.
The Thu Thiem New Urban Area was approved by the Prime Minister in 1996, covering 930 hectares, including 770 hectares for the new urban area and 160 hectares for resettlement. It is strategically located on the eastern bank of the Saigon River, opposite Ho Chi Minh City’s central business district.
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