Information from Vietnam Joint Stock Commercial Bank for Industry and Trade - Thanh An Branch (VietinBank Thanh An), the unit will auction the assets of Cuong Phat Market Management and Investment Cooperative through Thuan Phat Joint Stock Auction Company.
The focus of this auction is the collateral of high value, located in a prime location of the old Lao Cai City.
The collateral assets are the entire Lao Cai Tourist Market and related property rights. The project is located on plot No. 351 (map sheet No. 29), located on Nguyen Hue, Pham Hong Thai and Da Tuong streets, in Lao Cai ward, a bustling central area.
This is a level I tourist market, built on a land area of 11,333.25 m2. The total floor area is up to 29,687.9 m2,
Legally, the above land plot is for the purpose of use as "market land", a form of land lease paid by the State annually with a long-term term of use, until January 5, 2025.
All legal documents and mortgage contracts have been notarized and fully registered for guaranteed transactions according to regulations.
According to the most recent valuation certificate on April 15, 2025, this real estate block alone has been valued at VND145 billion.
In addition to the market, the collateral also includes all assets arising from the project, such as: business exploitation rights, fee collection rights, debt collection rights, rights to enjoy economic contracts and other benefits during the operation and exploitation of the market.
The entire asset class above is collateral for debt with a total outstanding debt as of August 22, 2025, which is nearly 64 billion VND.
The starting price for auctioning the entire debt (and thereby having the right to handle the collateral) is more than 76.7 billion VND.
Notably, this price is only about 53% compared to the most recent valuation value of Lao Cai Tourist Market (145 billion VND).
