Ho Chi Minh City appraises land prices for 22 projects, expected to collect more than VND 25,000 billion in the fourth quarter of 2024

In this list, expected revenue from Lotte Group's Lotte Eco Smart City Complex project accounts for more than half.

The Department of Natural Resources and Environment of Ho Chi Minh City recently sent a document to the Standing Committee of the City's Land Valuation Council detailing a list of 22 projects for land valuation in the fourth quarter of 2024.

This is to ensure the budget revenue estimate for 2024 from the land areas expected to collect financial obligations in the City. The total expected revenue from these 22 projects is about 25,483 billion VND.

Topping the list is the Lotte Eco Smart City Complex project of Lotte Group, with an estimated revenue of VND 16,000 billion according to the valuation certificate. This project was broken ground in September 2022 by Lotte Group (Korea) as the investor. However, due to financial obligations, it has remained dormant until now.

Lotte Eco Smart City has a total investment of VND 20,100 billion, built on a land area of 74,513 m2, of which the project development area is about 50,000 m2 in functional area No. 2A, Thu Thiem New Urban Area.

The second largest project is a 14.8-hectare land plot in An Phu Ward, Thu Duc City, to be paid for under the BT Contract for the Long Thanh - Dau Giay Expressway Parallel Road Project of Nguyen Phuong Real Estate Joint Stock Company. The estimated revenue from this project is VND 3,500 billion according to the valuation certificate.

Also included in the group of trillion-dollar projects is the land plot at 230 Nguyen Trai Street, Nguyen Cu Trinh Ward, District 1 of TNT Trung Thuy Real Estate Company Limited. The financial obligations of this project are expected to be over 3,2000 billion VND. The consulting unit is completing the certificate according to Decree 71.

In addition to the three projects with revenue of over a trillion, the list also includes projects with very large financial obligations such as the Diamond Riverside high-rise residential project of Nam Bay Bay Company with an estimated amount of over 729 billion VND; the project of Hoang Anh Company in District 7 with a financial obligation of 623 billion VND, the project of Phu Son Thuan Company in District 10 with an estimated land use fee of 281 billion VND; the project of Nha Khang Phuc Company in Binh Tan District with a financial obligation of 137 billion VND...

In addition, some other projects must also fulfill additional financial obligations such as the land plot in Binh Trung Tay ward of Binh Thien An company (146 billion VND); the land plot on road number 3, Truong Tho ward of Hung Thinh company (136 billion VND); the land plot at 256 - 258 Ly Thuong Kiet street, district 10 of Phu Son Thuan Construction Investment Joint Stock Company (281 billion VND) ...

Previously, at the September 2024 regular meeting on socio-economic issues, Mr. Phan Van Mai, Chairman of the Ho Chi Minh City People's Committee, requested to focus on resolving difficulties and backlogs of investment projects.

He assigned the City People's Committee Office to coordinate with the Department of Planning and Investment (Standing Committee for Solving Problems) and the Department of Construction (Standing Committee for Solving Problems of Real Estate Projects) to summarize how many problems and projects will be solved in October, November and December.

He requested that specific projects that need to be resolved be listed, focusing on projects in Thu Thiem and Hiep Phuoc. “If we can resolve financial obligations for large projects, we will attract a huge amount of investment capital, even tens of thousands of billions of VND,” he said, adding that from now until the end of the year, we need to focus on resolving large projects, not spreading them out.

Source: https://baodautu.vn/batdongsan/tphcm-dinh-gia-dat-22-du-an-du-kien-thu-hon-25000-ty-dong-trong-quy-iv2024-d227536.html