Ho Chi Minh City is about to auction 3 land lots in Thu Thiem, starting price over 5,000 billion VND

Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment of Ho Chi Minh City, said that 3 land lots with symbols 1-2, 1-3, 3-5 in the new urban area of Thu Thiem will be auctioned this year with an expected starting price of over 5,000 billion VND.

Mr. Nguyen Toan Thang, Director of the Department of Natural Resources and Environment of Ho Chi Minh City, said that 3 land lots with symbols 1-2, 1-3, 3-5 in the new urban area of Thu Thiem will be auctioned this year with an expected starting price of over 5,000 billion VND.

At the Ho Chi Minh City People's Committee meeting on the socio-economic situation and results in February; tasks and solutions for March 2025 held on the morning of February 28, Mr. Nguyen Toan Thang, Director of the City Department of Natural Resources and Environment, presented solutions to generate revenue for the City in the coming time.

Specifically, regarding the land auction plan in Thu Thiem New Urban Area (Thu Duc City), according to the plan, this year the City will select 3 land lots to organize auctions, then learn from experience to organize further auctions.

It is expected that in the second quarter of 2025, the legal procedures related to the auction of 3 land lots marked 1-2, 1-3 and 3-5 will be completed. The expected price list applied to calculate the starting price is about over 5,000 billion VND.

Three land lots marked 1-2, 1-3, 3-5 in the new urban area of Thu Thiem to be auctioned this year are expected to have a starting price of over VND5,000 billion. Photo: Le Toan

According to the plan to organize the auction of land lots in Thu Thiem New Urban Area that the City People's Committee previously approved, 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 (coded 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.

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.

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.

Besides organizing auctions of land lots in Thu Thiem, the Director of the City Department of Natural Resources and Environment also pointed out a number of other solutions to generate revenue for the City.

Specifically, regarding the work of granting certificates for commercial housing projects in the city, Mr. Nguyen Toan Thang said that the current procedures have changed in terms of order compared to before.

Previously, to handle the procedures for granting certificates for commercial housing projects, the unit had to carry out the inspection procedure and issue a document confirming eligibility. However, now there is no need to carry out this procedure, only a working group meeting to agree on issuing a document confirming eligibility for issuance.

Thanks to that, since the beginning of the year, the City has resolved 50 qualified housing projects, with the number of multi-level apartment certificates reaching over 49,000 units.

“Compared to before, the progress of granting certificates for commercial housing projects has been shortened, the number of certificates granted is also greater than before, creating products for the real estate market and generating revenue,” said Mr. Thang.

Regarding registration work, Mr. Thang said that in the first two months of 2025, the situation of registration of purchase and sale and settlement of records reached over 74,000 certificates. Compared to the first two months of 2024, it was 67,000.

“From the settlement of records and procedures for buying and selling, revenue from this group has increased,” Mr. Thang said, adding that in the first two months of the year, the City collected over VND1,500 billion compared to the revenue of VND1,100 billion in 2024, an increase of 34%. Thus, the main solution of the Department of Natural Resources and Environment from now until the end of the year is to focus on settling these procedures, creating revenue from buying and selling, transferring records of buying and selling in the real estate market.

Another content that also has a great impact on revenue solutions is the promulgation of regulations on revenue and cost forming factors according to the 2024 Land Law. This regulation will help reduce the time for appraising specific projects.

On average, previously, if these factors were not issued, from the time of hiring a consultant, coordinating the appraisal to issuing the certificate, it would take about 6 months. If this regulation is issued, it will be shortened to about 1 month.

“Currently, the Department of Natural Resources and Environment has submitted it to the City People’s Committee. If this regulation is issued soon, the procedure for handling price appraisals of the 24 projects submitted to the City People’s Committee will be faster. This revenue is expected to be over 30,000 billion VND,” Mr. Thang added.

Source: https://baodautu.vn/batdongsan/tphcm-sap-dau-gia-3-lo-dat-tai-thu-thiem-gia-khoi-diem-tren-5000-ty-dong-d249789.html