Officials from the Ho Chi Minh City People’s Committee have announced that the city will hold an auction, in the third quarter of this year, for the rights to nine land plots in the Thu Diem District 2 area.
HCMC recently published a list of 210 projects in the city that its seeing investment in, and the nine land plots are included in this list. The nine land plots are located in a key area of the Thu Thiem area and will comprise a total of 77,600 square meters.
The nine land plots include six plots that will be used for integrated residential area with buildings planned that will be 10 to 15 stories in height. The remaining three land plots planned to have 30 to 50 floors of multi-functional commercial area. Tran Vinh Tuyen, Deputy Chairman of the HCMC People Committee, said these land plots would be auctioned off on a one-by-one basis, so that the city has time to evaluate each bid, and to ensure that the investors who are approved are capable of implementing their projects.
The city’s Department of Transport has issued a decision on approving the investment projects for technical infrastructure for the nine land plots and their total investment projected at $1.1 billion USD, which will include the investment costs, land use fees, and technical infrastructure costs. Investors that the city selects must be able to prove that they have the management and operations expertise as well as financial capability to manage their projects.