Thua Thien Hue auctions "golden" land of more than 1,600 m2 to carry out commercial project

Thua Thien Hue will conduct an auction to sell assets on land at the land plot at 47 Hai Ba Trung Street, Hue City to implement the Commercial Service Area project at the above location.

Thua Thien Hue auctions "golden" land of more than 1,600 m2 to carry out commercial project

Thua Thien Hue will conduct an auction to sell assets on land at the land plot at 47 Hai Ba Trung Street, Hue City to implement the Commercial Service Area project at the above location.

The People's Committee of Thua Thien Hue province said that on December 7, the Land Fund Development Center - Department of Natural Resources and Environment in coordination with Quang Nam Joint Stock Company for Finance and Price Auction will conduct an auction to sell assets on land, transfer land use rights in the form of land lease to implement the investment project of the Commercial Service Area at the land plot No. 47 Hai Ba Trung, Hue City.

Accordingly, the land plot at 47 Hai Ba Trung has an area of ​​1,646.6 m2; with assets on the land attached to the auctioned land including a 3-storey office building, a 2-storey office building, a guard house with a construction area of ​​685 m2, floor area of ​​1,628 m2. With a land use term of 50 years, from the date of the Land Lease Decision of the People's Committee of Thua Thien Hue province, the money is collected once for the entire lease term.

Current status of land plot No. 47 Hai Ba Trung Street, Hue City will be auctioned to implement the project.

The expected starting price for the auction of the land and house is 100.42 billion VND. Of which, the starting price for land use rights is 93.47 billion VND, the starting price for assets attached to the land is 6.94 billion VND. With a deposit of more than 20 billion VND, each price step for land use rights is 1.8 billion VND, for assets attached to the land is 140 million VND.

According to the People's Committee of Thua Thien Hue province, after the auction, the land will be invested in a 9-storey commercial and service area project. The products and services provided by this project are essential commercial, service, tourism, entertainment and recreation services.

The project has a total investment of more than 233,047 billion VND. Of which, the investor's capital contribution must ensure at least 20% of the total project investment capital. The project implementation progress shall not exceed 36 months from the date of land allocation or land lease, in which the construction commencement shall not exceed 12 months from the date of land allocation or land lease.

According to the People's Committee of Thua Thien Hue province, the subjects participating in the land auction must have an investment project report in accordance with the planning parameters and ensure the requirements of the auction plan, including explanations and project drawings. The investment project must demonstrate socio-economic efficiency, in accordance with the investment calling objectives of the province.

In addition, the auction participants must have a commitment to the project implementation progress according to the schedule specified in the decision of the People's Committee of Thua Thien Hue province on approving the investment policy of the Commercial Service Area project at Land Lot 47 Hai Ba Trung, shown through a detailed project implementation progress table for each construction item and the investment amount consistent with the investment progress of each construction item. There are records and documents proving that the owner's equity to implement the project is not less than 20% of the total investment of the project, that is, from 46.6 billion VND or more, shown through a report explaining the financial capacity of the investor, attached with other legal documents as prescribed by the Investment Law.

The People's Committee of Thua Thien Hue province assigned the Land Fund Development Center - Department of Natural Resources and Environment to preside over and coordinate with relevant departments and branches to organize the appraisal of the conditions for participating in the auction to implement investment projects of investors registering to participate in the auction according to regulations.

Previously, the People's Committee of Thua Thien Hue province also issued a Plan to conduct auctions of land use rights for subdivided land funds, auctions of real estate facilities, and land plots for investment projects in the last 4 months of 2024. Specifically, Thua Thien Hue province will auction 166 land plots, including many "golden land" plots and is expected to collect more than 1,888 billion VND.

Source: https://baodautu.vn/batdongsan/thua-thien-hue-dau-gia-khu-dat-vang-hon-1600-m2-de-thuc-hien-du-an-thuong-mai-d231350.html