HCMC TO AUCTION NINE LAND LOTS IN THU THIEM

HCMC is calling on investors to attend an auction for the rights to use nine land lots, part of the Thu Thiem New Urban Area project in District 2, Nguoi Lao Dong newspaper reported.

The auction of the land lots is expected to take place in the third quarter of 2019.

This is one of the 210 projects prioritized by the city for investment in 2019. The project covers the land sites at Functional Section No. 1 for commercial and multifunctional services, which are managed by the Thu Thiem New Urban Area Management Board. Functional Section No. 1 is located in the heart of the new urban area.

A source from the municipal Department of Planning and Investment said that among the nine land sites covering a total of 77,600 square meters, six will be used to develop residential blocks with 10 to 15 floors, and the other three will be for commercial towers with 30-50 floors.

Required investments in the nine sites are estimated to reach a total of VND27 trillion, including investment costs, land use fees and infrastructure costs.

The HCMC government had earlier allowed the use of the city’s budget to invest in technical infrastructure for the nine sites to raise the value of these land lots. The 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 auction.

The HCMC 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 main investor.

Source: The Saigon Times