Vice Chairman of the Ho Chi Minh City People’s Committee Hoang Nguyen Dinh has signed a decision approving a plan to auction 3,790 apartment units in lots R1, R2, R3, R4 and R5 in An Khanh Ward, Ho Chi Minh City.
Under the plan, the auction must comply with directions from both central and local authorities, as well as ensure that the progress of the investor’s project implementation plan is aligned with the construction schedule of the Thu Thiem New Urban Area and Ho Chi Minh City’s socio-economic development plan.
Under the implementation roadmap, in March this year, the An Khanh Ward People’s Committee will complete the appraisal and approval of adjustments to the urban planning scheme, aiming to optimize architectural planning indicators, maximize land-use efficiency and ensure sustainable development.
From March to April, relevant authorities will carry out procedures such as selecting a unit to prepare the valuation certificate to determine the starting price, while simultaneously conducting procedures for the auction of public assets; determining the starting price for the auction; and selecting a licensed asset auction organization to conduct the public asset auction.
In May, the authorities will organize the asset auction and complete the issuance of the certificate of land use rights and ownership of assets attached to land, as well as update and adjust the land database and cadastral records in accordance with regulations.
The Ho Chi Minh City Department of Agriculture and Environment has been assigned to take the lead, in coordination with relevant agencies, in carrying out the auction procedures, collecting the winning bid payments, and completing all legal procedures for the buyer.
Previously, the Ho Chi Minh City People’s Committee approved the contents of reports and proposals submitted by the municipal Department of Construction in official dispatches regarding the continued implementation of the plan to auction 3,790 apartment units at lots R1, R2, R3, R4 and R5 in the 38.4-hectare area of the Thu Thiem New Urban Area in An Khanh Ward, designated for commercial housing, which had already received opinions from the Ministry of Construction.
3,790 apartment units have undergone at least three unsuccessful auctions. Businesses say that the main reason is that the units were auctioned in large lots with very high starting prices, making it difficult to attract investors.
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