It is expected that in June 2025, Ho Chi Minh City will auction 3 land lots in Thu Thiem.
It is expected that in June 2025, Ho Chi Minh City will auction 3 land lots in Thu Thiem in Functional Areas No. 1 and No. 3 with a total area of 19,300 m2.
The Ho Chi Minh City People's Committee has just issued a plan to organize auctions of land lots in the Thu Thiem New Urban Area (Thu Duc City). The goal of the plan is to restart the real estate market, speed up the auction process, and increase the city's budget revenue.
Accordingly, in the period of 2024 - 2025, the city will terminate the auctioned asset sale contract signed with the winner of 4 land lots in Functional Area No. 3 (symbols 3-5, 3-8, 3-9, 3-12).
These are 4 plots of land that were successfully auctioned with a record winning price of more than 37,000 billion VND at the end of 2021, but then the winning bidders all withdrew their deposits.
During this period, the City also auctioned three land lots (coded 1-2, 1-3, 3-5) belonging to Functional Areas No. 1 and No. 3. Of which, lot 1-2 has an area of nearly 7,900 m2, lot 1-3 has an area of more than 5,000 m2, both of which are planned as multi-functional residential areas.
The remaining lot is more than 6,400 m2 wide and is planned as a mixed-use residential area combined with commercial services.
The termination of the asset sale and purchase contract and the re-auction of the three land lots are expected to be completed in June 2025.
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| The resumption of the auction plan aims to restart the real estate market, speed up the auction process, and increase budget revenue for Ho Chi Minh City. Photo: Le Toan |
In the period of 2025 - 2026, after the successful auction results of the above 3 land lots, the city will learn from experience and continue to auction 8 other land lots in functional areas 1, 3 and 7. The expected organization time is from July 2025 to 2026.
Specifically, functional area 1 has 4 land lots, including two lots (coded 1-5, 1-6) planned as multi-functional residential areas and two lots (1-9, 1-10) planned as multi-functional commercial areas.
Functional area No. 3 has two lots (3-9, 3-10) with areas of 5,000 m2 and 10,000 m2 respectively, planned for apartments combined with commercial services. Lot 3-8 with an area of more than 8,500 m2 is planned for apartments without commercial services.
Functional area number 7 has a land lot coded 7-1, with an area of nearly 74,400 m2, planned to become an international standard resort hotel located on a small island.
The auction of the above land lots is expected to take place from July 2025 to 2026.
In addition to the land lots available for auction, Thu Thiem New Urban Area also has 6 lots in the 2C sports and entertainment complex. Ho Chi Minh City People's Committee assigned Thu Duc City to coordinate with the Department of Planning and Architecture to carry out procedures to adjust the 1/2000 scale zoning plan and the 1/500 scale detailed construction plan according to regulations. The Department of Natural Resources and Environment was assigned to submit to the City People's Committee for agreement on selecting investors through auction.
For the two land lots 1-12 and 1-20, the People's Committee of Thu Duc City reported to the City People's Committee on the progress of compensation and site clearance. The Department of Natural Resources and Environment was assigned to report to the City People's Committee on the agreement to select an investor through auction.
The City Land Fund Development Center is also assigned to organize and conduct land use rights auctions according to regulations; organize, implement and sign contracts to hire units and organize auctions according to bidding regulations.
Source: https://baodautu.vn/batdongsan/du-kien-thang-62025-tphcm-se-dau-gia-3-lo-dat-tai-thu-thiem-d224396.html
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