Ho Chi Minh City to Auction Over 92 Hectares of Land in Ben Cat for Over VND 2.7 Trillion

Ho Chi Minh City has approved a plan to auction over 92 hectares of land in Ben Cat district, part of a total of over 234 hectares previously recovered from San Miguel Pure Foods (VN) Company Limited. Of this, 86 hectares are designated for residential use and 6.3 hectares for commercial and service purposes. The residential land is planned for commercial townhouses, villas, and mixed-use areas combining commercial and social housing. Residential land will be allocated by the state through auction, with land use fees collected. For commercial and service land, the state will lease the land, with rental payments made in a lump sum through auction. The estimated starting bid for the land to be auctioned is approximately VND 2.756 trillion, based on Ho Chi Minh City's land price list. The final price will be determined, appraised, and approved before the auction is held. The remaining nearly 142 hectares not included in the auction comprise land for public works, green spaces, water surfaces, roads, parking lots, and technical infrastructure. Specifically, over 133 hectares of green space and water surfaces will be leased free of charge, with the winning investor responsible for developing and completing them according to the plan before handing them over to local authorities for management. The land use term is 50 years from the date of the decision to allocate or lease the land for the investor to implement the project. Ho Chi Minh City plans to organize the auction within this year. The land was formerly owned by San Miguel Pure Foods (VN) Company Limited in Lai Hung commune, Bau Bang district, Binh Duong province (now Ben Cat city, Ho Chi Minh City). This is one of the projects that Binh Duong province reviewed for delays and subsequently recovered for auction.