Southern Ha Tinh residential area infrastructure "escaped stagnation", auction exceeded starting price of 53.5 billion VND

(Baohatinh.vn) - The infrastructure project for the residential area in the South of Ha Tinh, which had failed in five auctions and had been stagnant for the past 10 years, suddenly increased in the latest auction, recording a price exceeding the starting price of 53.5 billion VND after auctioning 48 lots.

The auctioned land includes 28 townhouses and 20 villas.

The auctioned land includes 28 adjacent lots and 20 villa lots located in the Southeast Ky Anh District Urban Residential, Commercial and Service Infrastructure Project (Phase 1) located in Ky Khang and Ky Hoa communes.

The project has a scale of 38.7 hectares (phase 1 investment scale of 17.2 hectares) was implemented since 2015 and by September 2017, construction was temporarily suspended due to site clearance problems, the construction volume reached about 85%. From the end of 2017, the project began to be auctioned with 194 residential land lots (58 adjacent lots and 136 villa lots) phase 1. However, due to many problems, although it has been organized 5 times, it has failed and has not received the attention of investors. The project, which is located in a prime location, has been put into backlog for many years.

The auction of 28 adjacent plots of land received the attention of many investors.

In response to practical needs, especially the requirement to handle backlogged projects, ensure transparency, promote the effectiveness of land fund development and generate State budget revenue in 2026, the Provincial Land Fund Development Center has coordinated with local authorities, departments and branches to review all project documents, re-evaluate the current status to find solutions to remove "bottlenecks" to bring the "golden" land back to the auction floor.

The auction of 28 adjacent plots of land, each plot area from 135 - 150 ^m2 , starting price from 975 million VND to 1.4 billion VND/plot, located in a quite favorable location, parallel to National Highway 1, was organized by Hong Linh Joint Stock Auction Company and the results were announced on December 5.

According to records, the auction to find owners for 28 plots of land has created an explosive impression, attracting nearly 400 registrations with more than 200 bidders, the price paid for each plot of land is higher than the starting price, the number of bids is large. Mr. Chu Van Quyen, an investor from Nghe An province, said: “This is a land plot located in a prime location, near National Highway 1, the “gateway” of Vung Ang Economic Zone; the infrastructure of the residential area is invested synchronously and modernly, which is an ideal condition for investors to put money and expect high price increases after the auction. I voted to bid for 2 plots of land with bids exceeding 25 and 27 steps respectively and luckily won both. With the starting price offered, I think it is completely suitable for the market”.

The land is located in a prime location, near Highway 1, the "gateway" of Vung Ang Economic Zone; the residential area's infrastructure is invested synchronously and modernly.

Through the results, on average, each plot of land had from 8 to 15 bidders, paying from 22 price steps or more/plot of land. Notably, there were 2 plots with prices exceeding up to 50 price steps (each price step was 60 million VND), namely plot NLP.1.1 with an area of ​​147.5 ^m2 , sold for 4,150.5 billion VND, exceeding the starting price by 3 billion VND; plot NLP.1.28 with an area of ​​135.5 ^m2 , sold for 4,333.32 billion VND, exceeding the starting price by more than 3 billion VND. In addition, there were 7 plots of land with prices exceeding 25 - 29 price steps; 5 plots exceeding 30 - 35 price steps; 100% of the plots of land were successfully auctioned. The total amount collected after the auction exceeded expectations, reaching 75,082 billion VND, exceeding 43.5 billion VND compared to the total starting value.

The auction of 28 adjacent plots of land had 400 applications with 200 attendees.

Mr. Nguyen Quang Linh - Director of Hong Linh Joint Stock Auction Company said: "As the unit organizing the auction of 28 land lots in the Southeast Ky Anh District Urban Residential, Commercial and Service Infrastructure Project, the company has carefully prepared all stages. From completing the documentation, fully complying with the procedures and regulations of the law on property auctions, publicly announcing widely; at the same time, promoting propaganda to attract the attention of residents and investors".

One day before (December 4), the auction of 20 plots of land in the villa area was also successful. Unlike the adjacent plots, the large villa plots with an area of ​​459 - ^523m2 , received less attention from investors but also received 94 applications, successfully auctioning 100% of the plots with a total revenue of more than 82.3 billion VND, exceeding the total starting value by more than 10 billion VND.

48 land lots put up for auction in the first phase raised more than 157.3 billion VND, exceeding the starting price of 53.5 billion VND.

The successful auction has officially “lifted the curse” and “erased the unsold status” of the project located on the prime land in the South of Ha Tinh . This also proves that the solutions in the efforts to resolve the backlog of asset auctions by all levels, sectors and localities have been effective, creating trust for people and investors, and unlocking resources for urban development.

According to the representative of the Provincial Land Fund Development Center, as soon as it was reorganized from July 1, 2025, the unit proactively followed the direction of the Provincial People's Committee, coordinated with departments, branches and localities to find ways to remove and handle problems related to this backlog project, not only attracting investors but also performing the task assigned by the Provincial People's Committee to collect the budget in 2026. In the coming time, the Center will propose to complete the project investment according to the plan and continue to auction the remaining land fund.

It is known that this time, the Center will auction 3 rounds with a total of 76 land lots of the project, including 20 villa lots and 56 townhouse lots. The third round of auctioning 28 townhouse lots is expected to complete the collection of documents on December 16 and open the auction on December 19, 2025.

Source: https://baohatinh.vn/ha-tang-khu-dan-cu-phia-nam-ha-tinh-thoat-e-dau-gia-vuot-khoi-diem-535-ty-dong-post300692.html