From "clean land" to "prime land" - Planning lessons seen from the GO! Yen Bai area.

Amidst a nationwide real estate market seeking equilibrium, the land auction in the Go! Yen Bai area, Yen Bai ward, Lao Cai province, on December 4th created a "boom" with over 1,000 applications and winning bids far exceeding expectations. Behind these record-breaking numbers lies not mere coincidence, but the result of systematic management thinking: Instead of selling "off-plan" land, the government proactively invested in comprehensive infrastructure, transforming undeveloped land into "prime land" before putting it on the market.

On the morning of December 4th, 2025, the atmosphere at the Cultural Center of Yen Ninh 13 residential area, Yen Bai ward, became more vibrant than ever. Hundreds of investors from many provinces and cities, including experienced capital from Hanoi , Phu Tho, and Bac Ninh, gathered here to seek opportunities to own land plots in the New Urban Area Project along the road from Bach Lam Bridge to Tuan Quan Bridge.

Infrastructure for the new urban area construction project (near Go! Yen Bai Shopping Center) is being completed.

The auction results shattered the sluggishness of the real estate market in the early months of the year. According to the official report from the organizing unit, out of 102 plots of land offered for auction, 87 found owners immediately. The total winning bids reached an impressive figure: over 322.7 billion VND. Notably, this figure exceeded the starting price by more than 21.2 billion VND, generating significant budget revenue and establishing a new price level for the southern commercial center of Lao Cai province.

Discussing the auction, Mr. Hoang Thanh Son - General Director of Nhat An Phu Auction Company, the unit that conducted the auction, could not hide his surprise at the project's appeal: "In November and early December, we held 4 auctions, but the auction in the Go! Yen Bai area truly exploded with a record number of applications, reaching over 1,000 sets."

Mr. Son also emphasized that the key factor contributing to the auction's unexpected success while maintaining security and order was the organizational method. "We applied an indirect voting system. This is the optimal solution to allow customers the freedom to choose their land plot and price independently, completely avoiding collusion, price manipulation, or interference from 'dummy bidders'. The winning price accurately reflects the actual market demand."

Present at the auction and fortunate enough to win the land use rights, Ms. Tran Thi Le Quyen, residing in Yen Bai ward, shared the reason for her investment decision. According to Ms. Quyen, the value of the land is not just on paper but is immediately apparent:

"I see great potential in this land. Firstly, technically, it's not a flood-prone area, it's not sloping land, the ground is very flat, and it has a direct view of the river."

Ms. Quyen further analyzed: "In terms of living amenities, this location is extremely convenient. Transportation connects directly to Bach Lam Bridge and Tuan Quan Bridge, making it easy to travel to the city center. Right next to it is Go! Shopping Center, near Ben Do Market and other urban areas, creating a very civilized living environment."

Ms. Quyen's assessment reflects the general sentiment of the vast majority of investors. They don't buy land to wait for planning changes; they buy ready-made developments. Being located next to the Go! supermarket and directly connected to the Noi Bai - Lao Cai expressway makes this a "golden location" for both residential and commercial purposes.

The new urban development project attracted over 1,000 bidding applications.

The success of the auction for the new urban area project was not a matter of market luck, but rather the "sweet fruit" of Lao Cai province's well-planned approach. Instead of chasing quantity and selling undeveloped land to quickly generate revenue, Lao Cai province chose to prioritize infrastructure investment.

Mr. Pham Duc Trung, Deputy Director in charge of the Land Development Center of Lao Cai province, said: "The unit has focused its efforts on solving the difficult problem of land clearance and investing in synchronized technical infrastructure."

"Regarding the land adjacent to the Go! supermarket, we have identified it as the face of the new urban area. Therefore, the prerequisite is to create a land plot with 'three no's' (no slopes, no flooding, and no legal issues). The entire site will be leveled, and electricity and roads will be 100% completed before being put up for auction," Mr. Trung added.

Mr. Trung further shared the province's long-term vision: "Not only focusing on individual residential areas, in the future, along with the development potential of the new Lao Cai province, we will advise on developing land funds according to the TOD (Transit-Oriented Development) model. Specifically, we will focus on developing satellite urban areas around the Lao Cai - Hanoi - Hai Phong railway stations, closely following the highway routes. This is a model that developed countries have implemented, aiming to maximize the added value from land."

The strategy of investing in complete infrastructure before attracting investment has significantly increased land values ​​in this area, yielding a double benefit: increased government revenue, and improved living conditions for residents. From a macroeconomic perspective, the auction on December 4th is crucial for shaping Lao Cai province's 2025 revenue targets.

According to data from the Provincial Land Development Center, the target for revenue collection from land use in 2025 is 1,539 billion VND. As of December 5, 2025, thanks to the successful auction of the New Urban Area construction project and revenue from 6 land plots in Yen Bai, Van Phu, Nam Cuong wards and Luc Yen district, the total amount of successful land auctions and allocations has reached approximately 825 billion VND.

Thus, the unit has completed over 53% of the journey. The pressure for the final "sprint" of the year is immense, but the leaders of the Provincial Land Development Center remain optimistic thanks to the "reserve" of high-quality projects that have been prepared in advance.

Mr. Pham Duc Trung revealed the "final sprint" plan for December: "From now until the end of the year, we will continue to auction three large land plots in the form of selecting investors to implement the projects. These land plots are mostly located in prime locations in Au Lau Ward and Yen Bai Ward, with a total estimated value of approximately 826 billion VND. If the market continues to absorb the projects as well as in the recent auction, we are completely confident that we will complete, or even exceed, the target of 1,539 billion VND assigned by the province."

Leaders from the Provincial Land Development Center and the auction unit inspected the land subdivision and infrastructure construction in the urban area.

From a vacant plot of land along the Red River, the Go! Yen Bai area has become a high-value investment hub. This success story offers profound lessons on planning for localities, especially in the context of administrative consolidation. With the systematic steps and strategies of the Provincial Land Development Center, the real estate market in Lao Cai province is opening up brilliant development opportunities, promising to bring about a modern and prosperous urban landscape.

Source: https://baolaocai.vn/tu-dat-sach-den-dat-vang-bai-hoc-quy-hoach-nhin-tu-khu-vuc-go-yen-bai-post888253.html