Ninh Binh auctions 366 land lots; Office rental prices hit new peak

Ha Nam approves investment in 5 social housing projects; Long An calls for investment in an urban area worth nearly 9,300 billion VND; Auction schedule for 19 land plots in Thu Thiem.

Ninh Binh auctions 366 land plots, prices starting from 3.6 million VND/m2.

In April 2024, Tuan Linh Asset Auction Partnership Company will hold an auction for 366 land plots in Nho Quan and Gia Vien districts of Ninh Thuan province. The lowest land price offered is 3.6 million VND/m2.

Land auctions are currently taking place actively in many localities across the country. Photo: Freepik

Specifically, in Nho Quan district, the company will hold an auction for the right to use 154 land plots on April 21st. These include 39 plots in Dong Tam village, Cuc Phuong commune; 5 plots in the Dong Tam - Nam Giang area, Nho Quan town; one plot in My Thinh village, Gia Thuy commune; and 109 plots in the Ham Rong residential area, Phu Loc commune, Nho Quan district. The land plots range in size from 108 to 440 m2. The starting price is from 3.6 to 5.9 million VND/m2.

In Gia Vien district, Tuan Linh Company will also hold an auction for the right to use 212 land plots on April 27th. The auctioned land plots are located in Lien Son and Gia Phu communes, Gia Vien district. The plots range in size from 100 to 350 m2, with starting prices from 6 to 7.5 million VND/m2.

Ha Nam province approves investment in 5 social housing projects.

According to the Department of Construction of Ha Nam province, as of the first quarter of 2024, the Provincial People's Committee had approved the investment in 5 social housing projects with approximately 2,000 units. These include 2 social housing projects for low-income earners in urban areas and 3 social housing projects for workers and laborers working in industrial zones.

However, the Department of Construction of Ha Nam province frankly stated that many businesses are facing difficulties in implementing projects. Accordingly, most investors often encounter obstacles in land clearance work, because people with land within the project area refuse compensation, demanding higher compensation rates than stipulated...

Regarding legal policies, many businesses are facing difficulties in adjusting investment plans and extending project implementation timelines. Furthermore, determining the 20% land allocation for social housing development within commercial housing projects, and calculating land use fees for these projects, are also significant challenges for investors.

Long An calls for investment in an urban development project worth nearly 9,300 billion VND.

Recently, the Long An Provincial Department of Planning and Investment called for investment in the Binh An Duc Hoa urban area with a total capital of nearly 9,300 billion VND. The project is located in Duc Hoa Ha commune, Duc Hoa district, and covers an area of nearly 13.2 hectares.

Rendering of the Binh An Duc Hoa urban area project.

The preliminary housing product structure in the project is commercial apartments. Upon completion, the urban area is expected to be home to approximately 10,000 people.

The project's operating period is 50 years. The project implementation schedule will take approximately 2 years, starting from the date of the investor approval decision.

Rental prices for Grade A office space in Ho Chi Minh City reach a new peak.

According to CBRE, office rental prices in Ho Chi Minh City recorded an upward trend in the first quarter of 2024. In particular, Grade A office space reached a rental price of up to US$47.2/m²/month, a 2.6% increase compared to the previous quarter. This is the highest figure in the last 15 years. For Grade B office space, rental prices fluctuated around US$26/month, a 1% increase compared to the previous quarter and a 2% increase compared to the same period last year.

Office rental prices in Ho Chi Minh City have surged primarily due to the increasing occupancy rates of new buildings. Additionally, the completion of renovations and upgrades in some buildings will also contribute to the rise in rental prices. However, in 2024, prices are not expected to cool down significantly, as Ho Chi Minh City is not expected to see any new supply of Grade A office space.

Auction schedule for 19 land plots in Thu Thiem

The Ho Chi Minh City Department of Natural Resources and Environment has just reported on the plan to auction off 19 land plots in the Thu Thiem new urban area, Thu Duc City.

This year alone, the Department will auction off three land plots, including plots 1-2, 1-3, and 3-5. Afterward, the agency will learn from this experience and proceed with auctioning the remaining 16 plots. However, only eight of these plots have detailed auction plans for 2026 developed by the Ho Chi Minh City Department of Natural Resources and Environment.

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