HCMC – The People’s Committee of HCMC has announced plans to put up for auction 3,790 resettlement condo units in the Thu Thiem New Urban Area, An Khanh Ward in May.
The resettlement condos was built in Thu Thiem in 2013-2015 to supply housing for people affected by the development of the Thu Thiem New Urban Area. However, they have been left vacant until now.
Previously, the condo units in blocks R1-R5 went through four unsuccessful auctions as they were offered in large lots with starting prices set too high. In March last year, the city transformed these homes into commercial use to attract investors, planning to divide them into two groups for the upcoming auctions.
According to the plan, An Khanh Ward and the Urban Development Management Board will complete checking and approving the adjusted area planning within this month to optimize architectural indicators and improve the efficiency of land use.
Relevant authorities will select a valuation unit to determine the starting price and also select an auction organization before holding in May.
The auctions aim to effectively utilize the housing fund formed from budget capital, reduce waste, and supplement revenue for the budget and increase the housing market supply.
