Recently, the leader of the Department of Natural Resources and Environment of Ho Chi Minh City in the program "People ask - the government answers" mentioned that the City Party Committee and the City People's Committee have approved the content of the land auction plan for the Thu Thiem area. Accordingly, in 2024, the auction plan for land lots in the Thu Thiem new urban area and areas outside Thu Thiem will be developed.
Previously, in July 2023, the Department of Natural Resources and Environment of Ho Chi Minh City proposed to the City People's Committee to re-auction 4 land lots in Functional Area No. 3 (which had been successfully auctioned in 2021 but the enterprise withdrew the deposit) and auction 3,790 resettlement apartments.
The stock market has reacted quite positively to the above information. The shares of some enterprises with land funds in Thu Thiem are all excited. Some other stocks such as DXG of Dat Xanh or NVL of Novaland have increased. In particular, CII stock of Ho Chi Minh City Infrastructure Investment has also hit the ceiling.
Ho Chi Minh City Infrastructure Investment Company (stock code: CII) owns 8 projects with an area of nearly ten hectares in Thu Thiem, according to the 2022 annual report. The handed over projects include Lakeview 1, Lakeview 2, with a total area of more than 2 hectares, located on key roads of Thu Thiem such as Vong Cung Boulevard, Mai Chi Tho, Luong Dinh Cua...
CII also has The River 1 and The River 2 projects near the foot of Thu Thiem 1 bridge and the frontage of Vong Cung Boulevard. The total area of the two projects is about 3.5 hectares, of which The River 1 is almost completed and handed over, while River 2 is in the investment phase.
In 2022, CII also handed over about 95% of the D'verano project, with an area of nearly 9,500m2.
CII's land fund has not been deployed yet, and is in the investment preparation stage, with about 2.5 hectares at the corner of Nguyen Co Thach and To Huu streets - the core of Thu Thiem center, at lots 4.8 and 3.6 and the Riverfront Residence project.
Preparing for Thu Thiem land auction (Illustration photo: Hai Long).
Novaland Group (stock code: NVL) also owns a large land fund adjacent to Thu Thiem Urban Area. The company has a 30.2ha The Water Bay project in Binh Khanh Ward, Thu Duc City, which is in the process of being unstuck. The project has been invested about 6,000 billion VND.
Or The Sun Avenue project on Mai Chi Tho street, An Phu ward, Thu Duc city is also directly connected to Thu Thiem. The project was handed over in 2018, including 8 towers with more than 1,400 apartments.
Some other investors also own large projects in Thu Thiem such as Thaco with Sala Urban Area of over 113 hectares; Son Kim Land developing luxury complex The Metropole Thu Thiem; Tien Phuoc - Tran Thai - Gaw Capital - Keppel Land joint venture with Empire City project of 14.5 hectares with the highlight of 86-storey tower.
Lotte Group also participated with the Lotte Eco Smart City Thu Thiem smart complex, with a total investment of about VND20,000 billion. Another Korean enterprise, GS E&C, also developed the Thu Thiem Zeit project with a scale of 3.3 hectares.
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