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Two land lots in Thu Thiem find owners

The Saigon Times

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HCMC – The 3-5 and 3-8 land lots with a respective area of some 6,400 and 8,500 square meters, two of the four land lots in the Thu Thiem New Urban Area in HCMC’s Thu Duc City put up for auction, has been auctioned successfully at VND3.82 trillion and VND4 trillion, 6.6 and four times higher than the starting prices, respectively.

The Property Auction Service Center under the HCMC Department of Justice today, December 10, held auctions for the four land lots, which are located in the third functional area of the Thu Thiem New Urban Area, with the starting price of nearly VND5.3 trillion in total.

The starting prices of the 3-5 and 3-8 land lots were over VND578 billion and VND1 trillion, respectively, Tuoi Tre Online newspaper reported.

Dream Republic Corporation beat 21 others to win the auction for the 3-5 land lot, while Sheen Mega JSC overcame five others to win the auction for the 3-8 land lot.

Under the city’s planning, these firms can develop projects with four to 10 floors and a basement each on the land lots.

Each land lot can accommodate a maximum of 113 apartments with 1,067 people.

The auction winners can use the land lots for 50 years.

The HCMC government in May approved a plan to auction the four land lots. Besides the 3-5 and 3-8 land lots, the 3-12 and 3-9 land lots have a respective area of around 10,100 and 5,000 square meters and the staring prices of more than VND2.9 trillion and VND728.6 billion, respectively.

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