Auction of "golden land" by Quy Nhon beach, starting price of nearly 37 million VND/m2

(Dan Tri) - The "golden land" area of ​​nearly 11,000 square meters located in a prime location by Quy Nhon beach (Binh Dinh), was auctioned at a starting price of nearly 37 million VND/square meter, with the form of land lease payment at one time for the entire 50-year lease period.

On January 7, the Binh Dinh Province Land Fund Development Center announced that it is calling for investors to participate in the auction of land use rights for the K200 land project, located on An Duong Vuong Street, Nguyen Van Cu Ward, Quy Nhon City.

This project has a total area of ​​nearly 11,000m2, of which 5,860m2 is construction land with a starting price of about 37 million VND/m2. The remaining area of ​​more than 4,900m2 is green land, yards and internal roads, with a starting price of more than 11 million VND/m2.

Land plot K200 has a prime location very close to Quy Nhon beach (Photo: Doan Cong).

The starting price for land use rights and land lease payment for a period of 50 years is more than 270 billion VND. Investors participating in the auction must ensure that their own capital is not less than 20% of the total project investment.

The land has been cleared and is considered "golden land" in the center of Quy Nhon city, with a prime location near the sea. The purpose of use is to build a 5-star hotel, offices for rent and a commercial and service center.

The total investment capital for the project is 2,500 billion VND, not including the cost of using the auctioned land. According to the architectural planning, the project will include 40-45 floors (1 base block and 1 tower block) and a maximum of 3 basement floors for parking to serve the needs of the hotel or commercial business.

Land lot K200 has been vacant for many years (Photo: Doan Cong).

Mr. Tran The Buu, Director of the Binh Dinh Province Land Fund Development Center, said that the provincial leaders want to build a 5-star international hotel on this land to highlight Quy Nhon City. However, due to the large scale of the project, so far, no investor with enough capacity to implement it has been found.

"Compared to the scale of the project, the starting price for the auction is not much. However, this is a large project. If the auction is won but the implementation is slow, it will be revoked, so there must be an investor with real financial capacity," Mr. Buu emphasized.

This "golden land" area was once approved by the People's Committee of Binh Dinh province for the joint venture of Thien Hung Import-Export Company Limited and An Phu Group Joint Stock Company to carry out the Thien Hung hotel, trade and luxury apartment complex project, with a total investment of 2,900 billion VND.

In 2018, the People's Committee of Binh Dinh province decided to revoke the investment policy of the Thien Hung Hotel, Commercial and Luxury Apartment Complex project due to the investor's slow implementation, to find a new investor.

Source: https://dantri.com.vn/bat-dong-san/dau-gia-khu-dat-vang-ben-bien-quy-nhon-khoi-diem-gan-37-trieu-dongm2-20250107171253373.htm