Ho Chi Minh City sets ₫14.5 trillion starting price for Thu Thiem re-auction
The three sites span more than 23,600 square metres. Their 2021 auction results were cancelled after successful bidders failed to pay as required.
Three sites in Ho Chi Minh City's Thu Thiem New Urban Area are due to return to auction, with combined opening prices of ₫14.5 trillion. Decisions issued by the municipal People's Committee authorise the sale of land-use rights for the plots in An Khanh ward.
An earlier auction took place in 2021, but the city subsequently cancelled its results because the successful bidders did not fulfil their payment obligations. The sites together occupy more than 23,600 square metres.
The largest opening price, ₫10.198 trillion, applies to plot 1.K3.5.HH, which exceeds 10,000 square metres. Its zoning allows housing and services, with residential use accounting for 95%. Buildings may rise to 25 floors, accommodating around 3,420 residents. Bidders must have equity exceeding ₫2.39 trillion.
For plot 1.K3.1.OD, the starting price is ₫2.63 trillion and the minimum equity requirement is ₫587 billion. The residential site allows buildings no higher than 10 floors, with an estimated population of 1,067.
Plot 1.K3.3.HH has an opening price of ₫1.75 trillion and requires ₫410 billion in equity. It spans more than 5,000 square metres, with housing and services planned in buildings capped at 10 floors for around 811 residents.
The auction plans provide for state allocation lasting 50 years, starting on the allocation decision date, against payment of land-use fees. Successful bidders must fulfil regulatory procedures covering investment, construction, land, housing and property business. For development sites below 20 hectares, companies need equity equal to at least 20% of estimated total investment.
The municipal Department of Agriculture and Environment will oversee proceedings alongside the HCMC Land Fund Development Center and other agencies. Their responsibilities include verifying bidders' qualifications and ensuring transparency and legal compliance.
