Ho Chi Minh City aims to raise over 25.4 trillion VND (1 billion USD) by auctioning six land lots in Thu Duc city, including several prime locations in the Thu Thiem urban area.

The Department of Agriculture and Environment has proposed starting auction prices for approval by the municipal People’s Committee.

Specifically, in the Thu Thiem urban area, a land valuation plan for the Thu Thiem Eco Smart City project has been submitted, with an expected budget contribution of 16.2 trillion VND from the auction.

Another lot in An Phu ward, covering nearly 15 hectares, has been proposed for auction to resolve a BT contract for a road project, anticipated to generate 3.49 trillion VND.

The department has also set a land price of approximately 19 billion VND for an 828 square metre area in the Nam Phan housing project.

In addition, three land lots in Thu Thiem have been submitted for auction price approval, with a combined starting value of around 5.7 trillion VND.

Overall, the expected revenue from these six lots in Thu Duc city totals 25.4 trillion VND.

At a recent conference to promote investment in Thu Duc city, city leaders revealed plans to auction land use rights for 239 hectares, including 49 lots in the Thu Thiem new urban area and 189 hectares from other projects.

The auctioned land will be developed into multifunctional residential, commercial, educational, and cultural facilities.

For the 2024-25 period, HCM City officials expect the city’s budget revenue from land to reach 32.8 trillion VND, mainly from these auctions and related financial obligations./.VNA