Continue Auctioning Thủ Thiêm’s Prime Land
The Department of Natural Resources and Environment (DNRE) of Ho Chi Minh City has recently reported to the city’s People’s Committee regarding the adjustment of the timing for conducting the auction of land and 3,790 apartments in the new urban area of Thủ Thiêm, located in the Thủ Đức District.
Auctioning Prime Land
The DNRE has sent a proposal to the Department of Planning and Investment of Ho Chi Minh City to initiate the process of establishing and approving the investment decision for the plots of land 1-2, 1-3, 7-1, and 3-5. Furthermore, the department is currently developing a draft plan for the auction of the land use rights for these plots, seeking public opinion before submitting it to the People’s Committee for approval.
The land plots 1-2 and 1-3, which are part of functional area 1 in the new urban area of Thủ Thiêm, have respective areas of 7,886 m2 and 5,006 m2. These plots have been zoned for multifunctional residential purposes. The preparation of legal documents for the auction process is actively underway, with an expected completion date before May 14. The auction for these two plots is scheduled to take place before July 31.
Other Auctions
The land plot 3-5, located in functional area 3 of Thủ Thiêm, spans an area of 6,446 m2 and is planned for mixed-use residential and commercial purposes. The preparation of auction documents for this plot is expected to be completed by June 18, with the auction itself taking place before September 10.
The land plot 7-1, situated in functional area 7 of Thủ Thiêm, covers a large area of 74,393 m2 and is planned for the construction of an internationally standardized resort hotel. Uniquely built on a small islet, this project harmoniously blends with the surrounding water landscape and vegetation. The timeline for preparing the necessary documents and selecting a bidding execution unit is scheduled for completion before October 15. The auction for this plot is expected to take place before November 20, with possible adjustments depending on the auction results of other plots in the same area.
Furthermore, Ho Chi Minh City has planned to auction several other land plots. Among them are four plots located in functional area 1: plots 1-5 and 1-6 (planned for multifunctional residential purposes) and plots 1-9 and 1-10 (planned for multifunctional commercial purposes), with a total area of 35,700 m2. The auction for these plots is expected to take place before September 5, 2025.
Three land plots from functional area 3 will also be auctioned before November 28, 2025. Plot 3-8, covering 8,568 m2, is designated for residential apartments without commercial functions; plot 3-9, spanning 5,009 m2, combines residential and commercial functions; and plot 3-12, with an area of 10,059 m2, is planned for residential and commercial purposes. Additionally, six land plots in the sports and entertainment complex area will also be put up for auction.
Auctioning for Residential Units
As part of the program to build 12,500 resettlement apartments for residents affected by the Thủ Thiêm New Urban Area project, a total of 3,790 units are scheduled for auction. The preparation of documents for the auction process is expected to be completed before July 7, with the auction itself taking place before September 26.
These 3,790 residential units in Thủ Thiêm are state-owned assets created from the state budget. To ensure the strict adherence to the sequence, procedures, and decision-making authority for the sale of public assets in accordance with the law, the People’s Committee of Ho Chi Minh City has instructed the relevant departments and units to continue advising and proposing the necessary legal procedures.
Business Today is closely following the auctioning of prime land in Thủ Thiêm. Stay tuned to Business Today for updates on this exciting development in the real estate market.