Projected auction of around 500 land parcels to kickstart Belt and Road 4 project
The district of Mê Linh has approved a plan and is set to auction approximately 500 land parcels as part of the Belt and Road 4 project. These plots of land are strategically located to initiate the development of the Vành đai 4 road project. The revenue generated from the land use rights auction will be invested in infrastructure development, fostering economic and social growth in order to meet the criteria for becoming a district by 2025 and a city under the direct control of the capital by 2030.
Auctioning prime plots of land
These auctioned land parcels have been planned in attractive locations that align with the Vành đai 4 project. The revenue from the land use rights auction will be concentrated on building infrastructure to support economic and social development. By developing these parcels, the district aims to transform into a district by 2025 and eventually become a city under the direct management of the capital by 2030.
The auction process
From February 27th to March 13th, in collaboration with the Vietnam Auction Consortium, the center facilitated the sale and acceptance of bids for the land use rights of 19 parcels located in Chu Tran village, Tien Thinh commune, Mê Linh district, Hanoi. These plots of land range in size from 90.7 square meters to 101.1 square meters, with starting prices ranging from 23.2 million dong per square meter to 30 million dong per square meter. The auction is scheduled to take place on March 16th.
Strategic location and advantages
The auctioned land parcels are adjacent to the provincial road 308 and are in close proximity to the commune’s People’s Committee and Tien Thinh High School. These plots benefit from excellent transportation connectivity and have been developed with modern infrastructure and a complete range of amenities, including street lighting, clean water, underground cables, drainage systems, green spaces, internal roads, and various other facilities. Notably, these parcels are located approximately 1 kilometer from the intersection of the Vành đai 4 and Mê Linh roads, making them highly convenient for economic development and business services.
Previous successful auctions
In December 2023 and the end of January 2024, Mê Linh district successfully auctioned off 93 land parcels in Chu Tran village, Tien Thinh commune. The total revenue generated from these auctions exceeded 280 billion dong. The bidding process for each land parcel involved a closed-door voting round (one bidding round), with plot sizes ranging from 83.7 square meters to 297.1 square meters and starting prices ranging from 20.4 million dong per square meter to 31.9 million dong per square meter. The highest winning bid was 56.1 million dong per square meter, while the lowest was 20.6 million dong per square meter.
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