HCM City will hold an auction to find investors for projects on nine land plots in the Thu Thiem new urban area in District 2 (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City willorganise an auction to seek investors for the right to use nine land plots inthe Thu Thiem new urban area in district 2.
The auction is expected to be held in the thirdquarter of this year.
The nine land plots are on the city’s list of210 projects that are calling for investors.
The nine land plots are located in an areaexpected to be a highly dense multi-functional commercial centre.
To be eligible, investors must ensure progresson the project, and prove their management capacity to develop the project withthe surrounding area.
Tran Vinh Tuyen, Vice Chairman of the municipalPeople’s Committee, said these land plots will be auctioned one by one to givetime for review and evaluation, and to ensure that the selected investors arecapable of implementing the project
According to the municipal Department ofPlanning and Investment, the nine land plots have a total area of 77,606 sqm,which have completed land clearance and compensation.
The nine land plots include six plots planned tohave 10 to 15 floors of multi-functional residential area and three land plotsplanned to have 30 to 50 floors of multi-functional commercial area.
The total investment of nine land plots is 27trillion VND (1.1 billion USD) including investment costs, land use fees, andtechnical infrastructure costs.
The city’s Department of Transport has issued adecision on approving the investment projects for technical infrastructure forthe nine land plots
The department also assigned the Urban TrafficManagement No. 2 as the contractor of the project.
The municipal People’s Committee approved thecontractor to use the city’s advance budget to invest in technicalinfrastructure for the project to improve the value of each lot.-VNS/VNA
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HCM City will hold an auction to find investors for projects on nine land plots in the Thu Thiem new urban area in District 2 (Photo: VNA) 
