Da Nang auctioned a thousand billion dong land plot with 4 street frontages twice but both were "unsold"

The People's Committee of Da Nang City has just reported to the City People's Council on the auction situation of large land plots, including the land plot coded A1-2-1 on the road axis from Han River Bridge to the sea on Pham Van Dong Street (Son Tra District).

The starting price for this land has been approved since January. The auction method is to pay land rent at one time, the total amount is about 1,336 billion VND.

Current status of land near Han River Bridge put up for auction by Da Nang (Photo: Hoai Son).

According to the report, the Da Nang City Land Fund Development Center has organized auctions for this land twice but failed because no one participated in the auction.

The above "golden land" area has an area of nearly 10,000m2 with 4 sides bordering the road. The city has completed the site clearance and completed the technical infrastructure.

The land is intended to be used to build a commercial center and offices for lease with a total estimated investment capital of nearly 2,000 billion VND from the winning bidder. Da Nang sets a condition that the participating bidder must pay 20% of the total value of the land in advance.

According to the People's Committee of Da Nang City, this year, the city has approved the starting price for land use rights auctions for 13 land plots.

Of which, 4 auctioned land plots pay land rent at once for the entire lease term with an amount of about 59.5 billion VND and 9 auctioned land plots pay land rent annually with an amount of about 7.8 billion VND/year.

Of the 13 land plots, the city has successfully auctioned 4 plots, 6 plots could not be auctioned because they did not meet the conditions for auction according to the provisions of the Law on Property Auction, and the remaining 3 plots are being considered for adjustment in accordance with regulations.

Source: https://dantri.com.vn/bat-dong-san/da-nang-2-lan-dau-gia-khu-dat-nghin-ty-dong-4-mat-duong-nhung-deu-e-20240911071243794.htm