Ho Chi Minh City to re-auction 4 plots of land in Thu Thiem

According to the HCMC Department of Natural Resources and Environment, after the Thu Thiem land auction, Ho Chi Minh City directed to develop a plan, have a specific plan and auction route as well as check the order and procedures closely.

This is to ensure that the winning businesses will put the winning land plots into use in accordance with the approved planning.

On December 10, 2021, Ho Chi Minh City successfully auctioned 4 Thu Thiem land lots with an auction amount of more than VND37,000 billion, of which plot 3.12 per square meter won a record of VND2.4 billion.

However, after the auction, all 4 winning businesses dropped their deposits. Currently, the land plots have no new owners and HCM City is planning to continue the re-auction.

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai also said that after two businesses auctioned Thu Thiem land, 180 days overdue, the local authorities assigned specialized agencies to cancel the auction-winning results.

Ho Chi Minh City Tax Department has issued Official Dispatch No. 8076 petitioning the City People's Committee, Department of Natural Resources and Environment; Department of Justice; Financial Department; Property Auction Service Center, and Land Fund Development Center about the Dream Republic Joint Stock Company and Sheen Mega Joint Stock Company failure to pay enough money into the State Budget as in the auction purchase agreement. 

When there is a revocation notice the decision to recognize the auction winning result, the Tax Department of Ho Chi Minh City will revoke the land use levy and registration fee for the above-mentioned land plots.

Source: Kinh Te Xay Dung