The municipal government has approved the Department of Natural Resources and Environment’s proposal to auction the four land lots as the compensation process for such lots has been completed.
The Department of Natural Resources and Environment and HCMC Land Fund Development Center were assigned to complete preparations for the auctions this year.
As for the remaining 11 land lots, the city government asked the Investment and Construction Authority of Thu Thiem New Urban Area to coordinate with the District 2 authorities and other relevant departments and agencies to complete the required procedures to hold early auctions for them.
The HCMC government had earlier assigned the Investment and Construction Authority of Thu Thiem New Urban Area to draw up a map of 15 land lots in areas 3 and 4.
The decision to hold auctions for the 15 land lots was made after the Government Inspectorate published the conclusions of an inspection of the Thu Thiem New Urban Area project. The auctions are aimed at preventing losses for the State budget and attracting more large investors.
The functional area No. 3 was designed to include a residential complex and a high-rise commercial center. The highlight of the area is a school and a museum across from a convention and exhibition center.
Meanwhile, the functional area No. 4 was expected to host a residential complex in the northern section of Thu Thiem Peninsula, together with commercial centers, three schools, a community center and local administrative agencies.
