Binh Khanh resettlement area is 38.4 hectares wide, part of the 12,500 apartments program serving the resettlement of Thu Thiem Urban Area, which was completed in 2015. After building about 8,500 apartments, the city decided to keep 2,924 apartments for resettlement and allowed the auction of 3,790 apartments out of the total remaining 5,626 apartments to recover State capital.
However, over the years, these apartments have been auctioned at least four times but all have been unsuccessful. The reason is said to be that the starting price is too high and the quality of the apartments does not meet investors' expectations.
Recently, the Ho Chi Minh City People's Committee has approved the content of the report and proposal of the Ho Chi Minh City Department of Construction on continuing to implement the auction policy of 3,790 apartments at lots R1, R2, R3, R4, R5 in the 38.4-ha area in the Thu Thiem New Urban Area, An Khanh Ward, Thu Duc City.
The purpose of use and function of these apartments have been approved by the Ministry of Construction to be converted into commercial housing.
The Ho Chi Minh City People's Committee assigned relevant departments, branches and units to speed up the auction progress of the above 3,790 apartments.
Ho Chi Minh City hopes that the upcoming auction will attract investors by switching to commercial housing. In addition, the authorities are committed to ensuring a transparent auction process in accordance with legal regulations to avoid loss of public assets.
