Over 216 billion VND was raised from the auction of land use rights along the Red River embankment.

On December 12th, the land use rights auction to select an investor for the New Rural Residential Area Project in Ngoi Dong 1 residential area, Au Lau ward, Lao Cai province, was successfully held, bringing in over 216 billion VND for the local budget from land along the Red River embankment.

The auctioned land is located within the province's key urban development plan, boasting a prime location along the Red River with significant potential for commerce and services. The project is planned with a diverse product structure, including 47 semi-detached villas on an area of ​​6,933 m²; 15 detached villas (unfinished interior, completed exterior) on an area of ​​3,697 m²; and 95 terraced houses (unfinished interior, completed exterior) with a total area of ​​10,200 m².

The project is located along the Red River bank, near the beginning of Gioi Phien Bridge.

The successful auction of a large land fund in the last month of the year demonstrates investor interest in the local real estate market, especially the riverside segment, and also contributes significantly to the state budget of Lao Cai province in 2025.

The project's infrastructure is comprehensively and fully developed.

Previously, on December 4th, the Lao Cai real estate market also witnessed a vibrant land use rights auction in the GO! Yen Bai area (Yen Bai ward), attracting over 1,000 applications. As a result, the auction generated over 322.7 billion VND for 87 out of 102 land plots, exceeding the starting price by more than 21.2 billion VND. This result demonstrates the effectiveness of well-planned development and synchronized infrastructure investment prior to the auction in the area.

Source: https://baolaocai.vn/thu-ve-hon-216-ty-dong-tu-dau-gia-quyen-su-dung-dat-doc-ke-song-hong-post888854.html