Auctioning the Most Beautiful Sunrise View Land in Ba Ria-Vung Tau
Ba Ria-Vung Tau Provincial People’s Committee has recently made a decision to auction a plot of land at Nghinh Phong Cape for the development of a high-quality tourist service, entertainment, and resort complex.
The Land and Investment Details
This land, located in Ward 2, Vung Tau City, covers an area of 13.8 hectares. It is bordered by Ha Long Road on one side and the East Sea on the other three sides. The total investment capital for this project is over 10,700 billion VND. The winning bidder will pay a one-time lease fee for a 50-year period.
The investment objective is to develop a resort, entertainment, and high-end commercial service complex, utilizing the existing natural landscape. The project will include tourist services, entertainment facilities, hotels, and 5-star or above standard shopping centers.
The Ba Ria-Vung Tau Provincial People’s Committee has entrusted the Department of Natural Resources and Environment to organize the auction and select the investor. The architectural scale of the project must comply with the local planning adjustment of the 1/2000 Nui Lon – Nui Nho zone at Nghinh Phong Cape. Detailed planning at the 1/500 scale will be carried out after the land auction winner is determined.
Caption: Nghinh Phong Cape will become a high-end tourist resort and entertainment complex.
Nghinh Phong Cape: The Most Beautiful Sunrise Spot
Nghinh Phong Cape, located in the southern part of Vung Tau City, is considered as the most beautiful sunrise spot in Ba Ria-Vung Tau. Many tourists are willing to wake up as early as 3 a.m. to secure a spot with a beautiful view.
Nghinh Phong Cape is one of the seven plots of land that Ba Ria-Vung Tau intends to auction in the second quarter of this year. Other plots include a 3.9-hectare plot in Ward 11, Vung Tau City, and 0.66, 0.47, and 0.68-hectare plots in Long Hai Town, Long Dien District. There is also a 2.87-hectare plot in Thang Tam Ward, Vung Tau City (former tourist market), and a 1.7-hectare plot in Phu My Ward, Phu My Town.
According to the land auction plan, Ba Ria-Vung Tau aims to auction 23 plots of public land from 2023 to 2025. Six plots are scheduled for auction in 2023, 14 plots in 2024, and three plots in 2025. However, only seven plots currently meet the requirements in terms of infrastructure, planning, and land conditions.
After reviewing the plots of land to be auctioned, the Department of Natural Resources and Environment of Ba Ria-Vung Tau Province identified delays in approving procedures and determining starting prices. Consequently, they proposed adjusting the auction plan to the second quarter of 2024.
Out of the 20 plots of land in the auction plan until the end of 2024, only seven plots meet the necessary conditions, and the rest require further processing.
Currently, all seven plots of land have approved auction plans, with five plots having been approved for auction and two plots undergoing review. The Department of Planning and Investment has assessed and submitted investment proposals for four out of six plots, while three plots are currently under evaluation.
During the 2021-2022 period, Ba Ria-Vung Tau Province planned to auction seven plots of land, expected to generate approximately 12,293 billion VND for the budget. However, due to challenges related to planning, infrastructure connectivity, and land clearance, the auctions have not been conducted yet.
For more finance and economic news, visit Business Today.