Unable to change name, auction winner of Thuy Ta restaurant asks to 'withdraw'

The story of Mr. Doan Hai Ha (Bac Tu Liem District, Hanoi ) winning the "huge" auction to lease the Thuy Ta restaurant in Da Lat City for 15.15 billion VND/year (with a one-time payment for 10 years totaling over 151 billion VND), which caused a stir in public opinion recently, has officially come to an end.

Thuy Ta Restaurant on the scenic Xuan Huong Lake

On November 23, the Da Lat City People's Committee announced that 15 days after the Lam Dong Provincial People's Committee approved the auction results (November 8) for the lease of assets on the land and the land lease for Thuy Ta restaurant (10-year term, one-time payment), Mr. Doan Hai Ha had withdrawn his investment.

Da Lat proposes canceling the results of the Thuy Ta restaurant auction.

According to the Da Lat City People's Committee, the reason is that Mr. Ha submitted a request to change the name of Thuy Ta restaurant to another name, but the Da Lat City People's Committee did not approve it. Mr. Ha then requested to "withdraw," and the City People's Committee agreed.

The person who won the auction to rent the Thuy Ta restaurant at an exorbitant price has withdrawn their bid.

Previously, Thanh Niên newspaper reported, On October 30th, the Lam Dong Provincial Asset Auction Service Center held an auction for the lease of land and assets on the land for Thuy Ta Restaurant, and Mr. Doan Hai Ha won with a "huge" bid of 15.15 billion VND/year.

After the Lam Dong Provincial People's Committee approved the auction results (November 8th), the Lam Dong Provincial Asset Auction Service Center sent a notice to the winning bidder requesting payment to complete the subsequent procedures. The Da Lat City People's Committee also assigned relevant units to prepare the necessary procedures to contact Mr. Ha to sign a lease agreement for the Thuy Ta restaurant, ensuring compliance with regulations and timelines. However, for the reasons mentioned above, Mr. Ha ultimately officially withdrew.

Thuy Ta Restaurant boasts one of the most prime locations in Da Lat.

The total land area of ​​Thuy Ta restaurant is 3,876 ^m² , of which the covered building area is 383.3 ^m² ; the flower bed area is 893.1 ^m² ; and the remaining grounds and yard area is 2,599.6 ^m² .

This plot of land boasts one of the most prime locations in Da Lat City, situated on an island within the national scenic area of ​​Xuan Huong Lake. Opposite the restaurant is the Doi Cu Golf Course, and it's only a few hundred meters from Lam Vien Square, Yersin Park, Anh Sang Park, Xuan Huong Park, and Da Lat Market.

Quick update at 8 PM: The surprising decision of the tycoon who won the auction for Thuy Ta restaurant.

Although it is "prime land," because this property is part of the Xuan Huong Lake national scenic area, it is leased in its current state, without any expansion, new construction, or addition of structures (except in cases where the urban design is partially adjusted).

The fact that Mr. Ha won the auction to lease the Thuy Ta restaurant at an exorbitant price, nearly five times higher than the starting price (the starting price was just over 3.04 billion VND/year), has shocked the public and raised suspicions that he might forfeit the contract, as such a price would make it very difficult to run a profitable business.