Thu Thiem land auction

Update news Thu Thiem land auction

All four investors who won the bid at Thu Thiem auction in HCM City have ‘quit the game’, accepting their loss of deposit money.

HCM City terminates contracts with two winners of Thu Thiem land auction

Nguyen Toan Thang, Director of the HCM City Department of Natural Resources and Environment, has confirmed that HCM City will terminate contracts with the two companies as they have not made payments for the land plots in Thu Thiem.

VN central bank reports VND2.2 quadrillion worth of real estate loans, points out risks

The State Bank of Vietnam (SBV) has submitted to National Assembly’s deputies a report on issues raised at the third session of the 15th National Assembly, noting risks in real estate, securities and corporate bond lending.

Thu Thiem land auction: NA’s Economics Committee shows how prices were inflated

The National Assembly’s Economics Committee has given its opinion about the land-use rights auction at the Thu Thiem new urban area in HCM City, assessing positive and negative impacts of the auction on socio-economic development.

Money and land seen from Thu Thiem land auctions

Experts say that the State should improve the legal framework on the auction of land use rights but should not interfere greatly in the auction process.

Thu Thiem land auction spawns conspiracy theories

Though there were problems in the case of the Thu Thiem land auction, experts say that auctions should not be restricted, and businesses should not be treated as if they are a plague.

Two Thu Thiem land auction winners say will make payments

At a meeting on March 21 between the department and the two firms, representatives of the two companies said they were trying to mobilize funds for the payments, the local media reported.


What’s behind sky-high bid prices at land auctions?

Inflating land prices via auctions is one of the biggest problems of the real estate market. It creates an artificial land fever in the market and deprives people of opportunities to own accommodations.

After Thu Thiem auction, people queue up to buy land worth millions of dollars

Though the winners of Thu Thiem land auctions withdrew their purchase contracts, the land market in HCM City remains hot, and the prices of some projects are escalating.

One more investor wants to cancel contract for land lot in Thu Thiem

After Tan Hoang Minh Group, Binh Minh Trading and Development Investment Co. Ltd., which won the auction for the land lot coded 3-9 in the Thu Thiem New Urban Area in HCMC’s Thu Duc City, has proposed canceling a contract to buy the land lot.