HCM City completes new bidding rules for six prime land plots

Laws - HCMC’s Department of Planning and Investment has finalized new regulations for the bidding of potential investors for six prime-site land plots around the city, said an official of the department.

Nguyen Dac Toan, vice head of the department’s Office of Infrastructure Development, told the Daily on Tuesday that the city government had already sent the new regulations to the Ministry of Planning and Investment, the Ministry of Finance and the Ministry of Natural Resources and Environment for approval before they are issued.

Toan said that according to the department’s proposal, the six ‘golden land plots’, in preferential order, included a plot bordered by Nguyen Du, Dong Khoi and Ly Tu Trong streets in District 1 (9,700 square meters), Dan Sinh Market in District 1 (11,452 square meters), a plot bordered by Nam Ky Khoi Nghia and Huynh Thuc Khang streets in District 1 (4,474 square meters) and a 426-hectare plot in Binh Quoi-Thanh Da in Binh Thanh District.

The six plots are currently attracting the interest of 107 investors. The highest interest is for the Nguyen Du-Dong Khoi-Ly Tu Trong land with 66 interested investors and then the Binh Quoi-Thanh Da plot with 17.

Earlier, the Ministry of Natural Resources and Environment confirmed it was necessary to have new regulations for bidding for such attractive land plots to avoid future disputes.

The ministry said there would be no need to ask for final approval from the People’s Council of the city before publicizing the list of six prime-site land plots.

The ministry also suggested that the floor-price for bidding for these six plots would be stipulated by the city government, but the floor-price must be based on the expenditure of land site-clearance and resettlement, the investment capital and the cost for land rental.

Related to the dispute over the bidding of the plot bordered by Tran Hung Dao-Nguyen Thai Hoc-Pham Ngu Lao streets, Toan said that after Thai Son Consortium, winner of the bidding, refused to carry out the project, the city government was considering a solution for the new investor and the state budget.