Binh Dinh province seeks investors for two 'golden land' projects

By Nguyen Tri, Minh Hue
Wed, February 28, 2024 | 10:58 am GMT+7

The People’s Committee of Binh Dinh province in south-central Vietnam has approved land use rights auction plans for two “golden land” plots in Quy Nhon town with a total investment of nearly VND6 trillion ($243.6 million).

One plot overlooks the park and central square next to Quy Nhon beach, called K200, and covers nearly 11,000 square meters on An Duong Vuong street. The site has been cleared.

'Golden land' lot K200 on Quy Nhon beach, Binh Dinh province, south-central Vietnam. Photo by The Investor/Nguyen Tri.

"Golden land" lot K200 on Quy Nhon beach, Binh Dinh province, south-central Vietnam. Photo by The Investor/Nguyen Tri.

A 5-star hotel, offices for rent and a trade and service center are expected to be built on this plot at a cost of VND2.5 trillion ($101.5 million), excluding land rent. The building will have 40-45 floors and a maximum of three basements

The starting price at the auction, scheduled for the first quarter of 2024, will be decided by the provincial People’s Committee.

In addition, the committee has also approved a plan to auction land use rights for a project to build mixed-use apartments on Tay Son street, Ghenh Rang ward.

This plot covers 7,000 square meters, including over 6,300 square meters of residential land for mixed-use apartments, and the remaining for traffic and technical infrastructure.

The project will include an apartment building with 35-46 floors and a maximum of four basements, housing 4,672 people.

The auction is slated for Q1/2024, with the starting price decided by the provincial People's Committee. The project investment is estimated at nearly VND3.2 trillion ($130 million), excluding land use fees.

The provincial People's Committee requires that within 12 months from the date that it recognizes the results of the auctions, the investors must complete investment preparation procedures in accordance with current regulations to kick off construction.

The construction period should not exceed 30 months from the date of a construction permit being issued. If the developers violate the above schedule, the projects and land will be recovered and the paid auction amounts will be confiscated and paid to the state budget.

"The investors who win the auctions will not be allowed to transfer the investment projects or their land use rights in any form before the projects are completed," the provincial People's Committee said.

Previously, the committee approved a housing development plan for 2024, calling for investments in 216 projects. They include 182 urban and residential area and commercial housing projects, 12 social housing projects, and 22 resettlement projects.

Prominent among those are Phu Hoa Lake sports-culture-tourism-urban area (with an area of 286 hectares and 8,580 units); a housing project in subdivision No. 1, Nhon Hoi Urban Area (57.23 hectares and 1,288 units); and a housing project in subdivision No. 3 - Nhon Hoi Urban Area (36.04 hectares and 811 units).

Comments (0)
  • Read More
Care For Vietnam joins ASEAN forum, signs MoU in New Zealand

Care For Vietnam joins ASEAN forum, signs MoU in New Zealand

Care For Vietnam (CFVN) had the honor to be the only Vietnamese enterprise invited to share insights at the "ASEAN Forum 2025: 50 Years + $50 Billion" held at ANZ Centre in Auckland, New Zealand on August 28.

Companies - Thu, September 18, 2025 | 9:00 am GMT+7

Digital technology transforms Vietnam’s food industry

Digital technology transforms Vietnam’s food industry

Amidst robust digital transformation across all sectors, the food processing industry has tapped such digital technologies as Internet of Things, AI, blockchain and Big Data to optimize production processes, control supply chains, and meet consumers’ demands.

Companies - Thu, September 18, 2025 | 8:16 am GMT+7

VPBank issues Vietnam’s first international sustainable bonds

VPBank issues Vietnam’s first international sustainable bonds

VPBank has become the first bank in Vietnam to successfully issue $300 million in sustainable bonds on the international market.

Companies - Wed, September 17, 2025 | 10:24 pm GMT+7

Vietnam’s private conglomerate Vingroup reclaims market capitalization crown after 5 years

Vietnam’s private conglomerate Vingroup reclaims market capitalization crown after 5 years

Vingroup has surpassed state-controlled lender Vietcombank to become the largest market capitalization company in Vietnam as its stock price rose 3.5 times in the past seven months.

Companies - Wed, September 17, 2025 | 10:16 pm GMT+7

First wave of ETF buying could exceed $680 mln if Vietnam secures FTSE market upgrade: broker

First wave of ETF buying could exceed $680 mln if Vietnam secures FTSE market upgrade: broker

Vietnam’s stock market has a strong chance of being upgraded by FTSE Russell in its October 2025 review, a move that could unlock billions of dollars in foreign inflows, said an analyst at broker ASEAN Securities.

Economy - Wed, September 17, 2025 | 4:16 pm GMT+7

Vietnam Education Publishing House faces challenges in curbing fake textbooks

Vietnam Education Publishing House faces challenges in curbing fake textbooks

The Vietnam Education Publishing House (VEPH) is encountering a range of difficulties in fighting counterfeit textbooks as the situation is becoming increasingly sophisticated and complex.

Companies - Wed, September 17, 2025 | 3:54 pm GMT+7

Vietnam Airlines the largest holding in gov’t investment arm SCIC’s portfolio

Vietnam Airlines the largest holding in gov’t investment arm SCIC’s portfolio

National flag carrier Vietnam Airlines has overtaken Vinamilk and Sabeco to become the largest holding in State Capital Investment Corporation's (SCIC) stock portfolio following the latest capital funding.

Finance - Wed, September 17, 2025 | 3:20 pm GMT+7

Hoa Phat Agriculture submits documents for IPO

Hoa Phat Agriculture submits documents for IPO

Hoa Phat Agriculture Development JSC, a subsidiary of Hoa Phat Group, on Tuesday submitted documents for an IPO of its shares as early as December 2025.

Companies - Wed, September 17, 2025 | 3:03 pm GMT+7

Petrovietnam affirms plan to build eco-energy and industrial center in southern Vietnam

Petrovietnam affirms plan to build eco-energy and industrial center in southern Vietnam

Petrovietnam plans to develop an eco-energy and industrial center project in Can Tho city, the "heart" of the Mekong Delta, its representatives stated on Monday.

Energy - Wed, September 17, 2025 | 11:49 am GMT+7

Thailand - one of Southeast Asia’s fastest-growing markets for AI

Thailand - one of Southeast Asia’s fastest-growing markets for AI

Thailand has emerged as one of Southeast Asia’s fastest-growing markets for artificial intelligence (AI), with OpenAI reporting that weekly active users of ChatGPT in the country have quadrupled over the past year.

Southeast Asia - Wed, September 17, 2025 | 10:40 am GMT+7

MoMo co-founder urges single fintech regulator, faster sandbox in Vietnam

MoMo co-founder urges single fintech regulator, faster sandbox in Vietnam

Vietnam should establish a single regulatory focal point and adopt a more flexible sandbox regime to accelerate fintech innovation, said Nguyen Ba Diep, co-founder of e-wallet giant MoMo.

Finance - Wed, September 17, 2025 | 8:00 am GMT+7

Indonesia to end incentives for imported CBU BEVs in 2026

Indonesia to end incentives for imported CBU BEVs in 2026

The Indonesian government has confirmed that it will stop providing incentives for imported completely built-up (CBU) battery electric vehicles (BEVs) from 2026.

Southeast Asia - Tue, September 16, 2025 | 9:44 pm GMT+7

Aquatic sector advised to navigate challenges, secure exports to EU, US

Aquatic sector advised to navigate challenges, secure exports to EU, US

Despite positive production signals with growth in 2025 projected at 4.25%, Vietnam's aquatic sector is facing mounting export pressures, particularly strict technical barriers in major markets such as the EU and the U.S.

Companies - Tue, September 16, 2025 | 9:41 pm GMT+7

Vietnam pledges favorable conditions for UK businesses

Vietnam pledges favorable conditions for UK businesses

Finance Minister Nguyen Van Thang has affirmed Vietnam’s commitment to improving its investment environment and creating favourable conditions for foreign enterprises, including those from the UK.

Companies - Tue, September 16, 2025 | 9:29 pm GMT+7

Lotte Shopping plans to open more shopping malls in Vietnam

Lotte Shopping plans to open more shopping malls in Vietnam

South Korean retail giant Lotte Shopping has unveiled plans to open an additional two to three large-scale shopping malls in major Vietnamese cities by 2030, underscoring the country’s growing role in the group’s international expansion strategy.

Companies - Tue, September 16, 2025 | 9:25 pm GMT+7

Vietnam ratifies WTO Agreement on Fisheries Subsidies

Vietnam ratifies WTO Agreement on Fisheries Subsidies

Vietnam officially deposited its instrument of ratification of the Agreement on Fisheries Subsidies at the WTO General Council’s special session in Switzerland on Monday.

Companies - Tue, September 16, 2025 | 9:21 pm GMT+7