Accordingly, this auction is scheduled to take place in the third quarter of this year.
The auction is one of the 210 projects prioritized by the city government for investment during this year. The project covers the land sites at Functional Section No. 1 for commercial and multifunctional services under the management of Thu Thiem New Urban Area Management Board. The section is located in the center of the new urban area.
HCMC will auction nine land lots, part of the Thu Thiem New Urban Area project. (Photo: Kien thuc)
Among the nine land sites covering a total of 77,600 sqm, six of them will be used to develop residential blocks with 10 to 15 floors, while the other three will be for commercial towers with 30-50 floors according to an anonymous source from the city’s Department of Planning and Investment.
Total investment capital for the nine sites is estimated at VND27 trillion, including costs for investment, infrastructure and land use fees.
Earlier, the HCMC government had approved the use of the city’s budget to invest in technical infrastructure for the nine sites to raise the value of these land lots. Accordingly, cost of developing technical infrastructure will be considered as part of the value of the land use rights when land prices are chosen for opening the expected auction.
The city’s Department of Transport also approved the project to invest in technical infrastructure for the nine sites and appointed Urban Traffic Management Unit No. 2 as the major investor.
