From "clean land" to "golden land" - Planning lessons from the GO! Yen Bai area

In the context of the real estate market nationwide is finding its balance, the land auction in the Go! Yen Bai area, Yen Bai ward, Lao Cai province on December 4th created an "explosive push" with more than 1,000 participating applications and the winning bid far exceeded expectations. Behind these record numbers is not just a coincidence, but the result of a methodical management mindset: Instead of selling "green rice", the state proactively invested in synchronous infrastructure, turning raw land into "golden land" before putting it on the market.

On the morning of December 4, 2025, the atmosphere at the Cultural House Hall of Yen Ninh 13 Residential Group, Yen Bai Ward became more exciting than ever. Hundreds of investors from many provinces and cities, including experienced capital flows from Hanoi, Phu Tho and Bac Ninh gathered here to seek opportunities to own land plots in the New Urban Area Project on the road from Bach Lam Bridge to Tuan Quan Bridge.

Infrastructure of the New Urban Area Construction Project (near Go! Yen Bai Commercial Center) is being completed.

The auction results broke all the lulls of the real estate market in the first months of the year. According to the official report from the organizer, out of 102 plots of land put up for auction, 87 plots found their owners immediately. The total winning bid reached an impressive figure: over 322.7 billion VND. Notably, this figure exceeded the starting price of more than 21.2 billion VND, creating a large source of budget revenue and establishing a new price level for the commercial center area in the South of Lao Cai province.

Discussing the auction, Mr. Hoang Thanh Son - General Director of Nhat An Phu Joint Stock Auction Company, the auction operator, could not hide his surprise at the attraction of the project: "In November and early December, we held 4 auctions, but the auction in the Go! Yen Bai area really exploded with a record number of documents of more than 1,000 sets".

Mr. Son also emphasized that the key factor that helped the auction succeed beyond expectations while still ensuring security and order was the organization method. "We apply the indirect voting method. This is the optimal solution for customers to have the freedom to choose the land plot and the independent price, completely avoiding collusion, price suppression or intervention by 'blue and red teams'. The winning price results accurately reflect the actual demand of the market."

Present at the auction and fortunately winning the land use rights, Ms. Tran Thi Le Quyen, residing in Yen Bai ward, shared the reason for deciding to invest. According to Ms. Quyen, the value of the land is not on the drawing but is present right before her eyes:

"I see this land fund as very potential. Firstly, technically, this is a non-flooding area, not a slope, the land is very beautiful and has a direct view of the river."

Ms. Quyen further analyzed: "In terms of living amenities, this location is very convenient. Traffic connects directly to Bach Lam bridge, Tuan Quan bridge, easy to travel to central areas. Right next to it is Go! Shopping Center, near Ben Do market and other urban areas, creating a very civilized living landscape".

Ms. Quyen's comment is also the common mentality of the majority of investors. They do not buy land to wait for planning, they buy ready-made completion. Being located next to Go! supermarket and directly connected to Noi Bai - Lao Cai highway makes this place a "golden coordinate" for both real estate needs and commercial business.

The new urban area construction project attracted over 1,000 bidding documents.

The success of the auction of the New Urban Area Project is not a "luck" of the market, but the "sweet fruit" of the systematic planning thinking of Lao Cai province. Instead of chasing quantity, selling raw land to quickly collect budget, Lao Cai province has chosen: Investing in infrastructure first.

Mr. Pham Duc Trung - Deputy Director in charge of Lao Cai Province Land Fund Development Center said: "The unit has focused its efforts to solve the difficult problem of site clearance and synchronous investment in technical infrastructure".

"For the land fund adjacent to Go! supermarket, we identify this as the new urban face. Therefore, the prerequisite is to create a "3 no" land fund (no slope, no flooding and no legal problems). The entire land is leveled, electricity and roads are 100% completed before being put up for auction" - Mr. Trung added.

Mr. Trung shared more about the province's long-term vision: "Not only stopping at single residential areas, in the future, along with the development space of the new Lao Cai province, we will advise on developing land funds according to the TOD model. Specifically, focusing on developing satellite urban areas around Lao Cai - Hanoi - Hai Phong railway stations, closely following the highways. This is a model that developed countries have done, aiming to maximize the added value from land".

The strategy of completing infrastructure investment before calling for investment has helped land value in this area increase sharply, bringing double benefits: the State increases budget revenue, while people enjoy a high-quality living environment. From a macroeconomic perspective, the auction on December 4 has a decisive meaning for the 2025 budget revenue scenario of Lao Cai province.

According to data from the Provincial Land Fund Development Center, the budget revenue target from land use sources assigned in 2025 is 1,539 billion VND. As of December 5, 2025, thanks to the success of the auction of the New Urban Area Construction Project along with revenue from 6 land funds in Yen Bai, Van Phu, Nam Cuong wards and Luc Yen district, the total amount of successful auctions and land allocations has reached about 825 billion VND.

Thus, the unit has completed more than 53% of the journey. The pressure for the "sprint" phase at the end of the year is very large, but the leaders of the Provincial Land Fund Development Center are still optimistic thanks to the "reserve" of high-quality projects that have been prepared.

Mr. Pham Duc Trung revealed the "sprint" plan in December: "From now until the end of the year, we will continue to organize auctions of 3 large land funds in the form of selecting investors to implement the project. These land funds are mostly located in prime locations in Au Lau Ward and Yen Bai Ward, with a total estimated value of about 826 billion VND. If the market continues to absorb well like the last auction, we are completely confident that we will complete, even exceed the target of 1,539 billion VND assigned by the province."

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

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

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