Vingroup 's Can Gio sea encroachment project has been approved for a land price of over VND27,300 billion. In the photo: A corner of the construction site of the current Can Gio sea encroachment urban tourism project - Photo: NGOC HIEN
The Ho Chi Minh City People's Committee has just issued decisions approving land prices for 9 real estate projects in the city, before merging and expanding administrative boundaries.
Speaking with Tuoi Tre Online on July 9, a representative of the Department of Agriculture and Environment of Ho Chi Minh City said that with these 9 projects alone, Ho Chi Minh City is expected to collect 52,599 billion VND from land use fees.
Specifically, the project with the largest revenue is the coastal urban area project in Long Hoa commune and Can Thanh town, Can Gio district (old), invested by Can Gio Urban Tourism Joint Stock Company (under Vingroup Group). The total amount that the investor must fulfill financial obligations with the approved land price is 27,317 billion VND.
The next project with the largest revenue is the Thu Thiem Eco Smart complex (Lotte Eco Smart City) in functional area 2a - Thu Thiem new urban area, of Lotte Group (Korea) invested by Lotte Properties HCMC Co., Ltd., with land value of VND 16,190 billion.
Ranked third on this list is the 14.8ha land plot in An Phu Ward, Thu Duc City (old) to be paid under the BT contract for the Long Thanh - Dau Giay Expressway parallel road project, from Mai Chi Tho Street through Nam Rach Chiec residential area, invested by Nguyen Phuong Real Estate Company Limited. The expected revenue from this project is 3,469 billion VND.
The 14.8ha land plot in An Phu ward, Thu Duc city (old) to be paid under the BT contract for the parallel road project of Long Thanh - Dau Giay expressway, from Mai Chi Tho street through Nam Rach Chiec residential area, was approved for VND 3,469 billion - Photo: NGOC HIEN
The next project with land use fees of thousands of billions of VND is the Le Minh Xuan Industrial Park expansion project in Le Minh Xuan commune, Binh Chanh district (old), invested by Khang Phuc Housing Trading Company Limited with land fees of 2,689 billion VND.
Meanwhile The residential project in Phu Thuan ward, District 7 (old) invested by Phat Dat Real Estate Development Joint Stock Company also had its land price approved, with an expected revenue of 2,222 billion VND.
In addition, the Phu Thuan residential area project in Phu Thuan ward, District 7 (old), invested by Anh Tuan Investment Joint Stock Company, was approved for land price with a revenue of 513 billion VND.
In addition to the above large projects, the Phu Dinh Riverside commercial housing project in Ward 6, District 8 (old) invested by Saigon Nam Do Real Estate Company Limited was approved for land price of 143 billion VND.
Phuong Viet apartment project in Ward 6, District 8 (old) invested by Phuong Viet Investment Joint Stock Company has approved land price of 38 billion VND.
The additional land area in Phu Huu ward, Thu Duc city (old) belonging to the Nam Phan housing project invested by Nam Phan Investment Joint Stock Company was approved for land price of 18 billion VND.
Land revenue increased sharply
A plot of land that has just had its land price approved by the Ho Chi Minh City People's Committee - Photo: NGOC HIEN
The Department of Agriculture and Environment of Ho Chi Minh City said that in the first 6 months of the year, the total budget revenue from land in Ho Chi Minh City (before the merger) was estimated at more than 65,319 billion VND. In addition to the 9 major projects mentioned above, the revenue realized in the first 6 months was more than 12,720 billion VND from land use fees, land rent, water surface rent, and revenue from real estate transfers. According to the department, the revenue from land has reached 90.72% of the target assigned in 2025 of 72,000 billion VND.
If businesses complete their land financial obligations, this will be a huge revenue, as in recent years the land revenue in Ho Chi Minh City has been below VND20,000 billion/year, including years when the revenue was significantly lower than the estimate.
After merging Binh Duong and Ba Ria - Vung Tau into Ho Chi Minh City, the administrative boundaries of Ho Chi Minh City have expanded on a large scale, and land revenue for the "super city" Ho Chi Minh City will also increase sharply after July 1, 2025.
Source: https://tuoitre.vn/9-du-an-se-mang-ve-cho-tp-hcm-khoan-tien-su-dung-dat-khung-gan-52-600-ti-dong-20250709203812368.htm
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