HCMC expected to earn VND22 trillion from auction for 55 land lots in Thu Thiem

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The HCMC’s government expects to receive VND22,000 billion (US$990 million) from the auction of 55 land lots covering on an area of 793,089.6 m2 in the Thu Thiem New Urban Area in District 2.

Thu Thiem New Urban Area in District 2

Thu Thiem New Urban Area in District 2

According to the Investment and Construction Authority of Thu Thiem New Urban Area’s report sent to the municipal People’s Committee, the land lots will be divided into three groups.
The first group with 16 land lots costing more than VND4,788 billion covering on an area of 158,730 m2 will be auctioned in the 4th quarter of this year.
The city’s authorities will get over VND8,125 billion from an auction for 16 land lots on an area of 269,125 m2 in the second group that will be organized in the first quarter and at the end of 2020; and more than VND 9,012 billion from an auction for 23 land lots on an area of 365,234 m2 in the third group.
In addition, the Investment and Construction Authority of Thu Thiem New Urban Area has coordinated with the HCMC Land Fund Development Center and relevant departments to auction resettlement apartments to earn around VND 9,936 billion.
Therefore, the municipal government could receive over VND 14,725 billion from the auction for 16 land lots and 3,790 resettlement apartments.
As for an amount of money that has not been used, the Investment and Construction Authority of Thu Thiem New Urban Area has still kept more than VND7,754 billion.

By MAI HOA – Translated by Kim Khanh

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