Under the plan, the auction is intended for the sale of commercial housing in An Khanh Ward.
The Ho Chi Minh City People’s Committee assigned the municipal Department of Agriculture and Environment to lead the process, coordinate with relevant agencies to select and contract an appraisal unit to determine the starting price of the land.
The department is tasked with setting the starting price for the auction and signing sale contracts with winning bidders.
The Ho Chi Minh City Department of Construction will submit to the HCMC’s People’s Committee a decision on the sale of public assets and oversee the handover of properties to winning bidders.
Previously, the Ho Chi Minh City People’s Committee approved the proposal from the municipal Department of Construction to continue auctioning the 3,790 apartments within the 38.4-hectare area of Thu Thiem New Urban Area, with the intended use as commercial housing, as endorsed by the Ministry of Construction.
These 3,790 apartments' sale failed in at least three previous auction sessions. According to businesses, the high total value of the lots has hindered investor participation in the previous auctions.
