Golden land plot in Thu Thiem to be auctioned off in September

In September, Ho Chi Minh City plans to auction a land plot in Thu Thiem New Urban Area. The land, located in An Khanh ward, is zoned for mixed residential and service use, with the majority allocated for residential purposes. The project on the site may reach up to six storeys, with a height limit of 24 meters and a capacity of over 600 residents.

The state will grant the land in exchange for land-use fees, which will be determined through an auction of land-use rights. The allocation term is 50 years, commencing from the date the Ho Chi Minh City People’s Committee issues the decision to the winning bidder. Participants must pay a deposit according to the asset auction law, and the winning bidder must settle the auctioned amount by the deadline for land-use fees, as per tax administration regulations.

To ensure fairness, groups consisting of economic corporations, parent companies, and subsidiaries must agree on a single company to participate in the auction. Individual participants are also welcome, provided they commit to forming an eligible economic organization. In August, the city announced plans to auction eight land plots in Thu Thiem, totaling over 138,000 square meters.

The first auction is scheduled for September, involving five plots, followed by additional plots in October. Completing the auctions by October will allow time in the subsequent months to resolve any adjustment cases. Ho Chi Minh City aims to auction 50 land plots and sites in 2026, generating approximately $3.7 billion in revenues.

The city views accelerating public land auctions as a crucial step to enhance budget revenues and support its socioeconomic development goals. Additionally, the city is advancing plans for a $6.88 billion International Financial Centre in Thu Thiem, with a consortium proposing a total capital of $1.15 billion for a 99-storey financial tower.