On February 23, the People's Committee of Da Nang City announced that it had issued a decision approving the auction plan for land use rights for Land plot 16 Bach Dang, Thach Thang Ward, Hai Chau District, Da Nang City. This land has two frontages on Bach Dang and Tran Phu streets with an area of 1,795m2.
According to the decision approving the auction plan signed by Vice Chairman of the Da Nang People's Committee, Mr. Le Quang Nam, this land is planned for commercial and service purposes with high-end business types such as class A offices, luxury hotels, tourist apartments and other attractive tourism services.
The starting price is set at VND59.2 million/m2. To participate in the auction, investors must deposit up to 20% of the starting value. The winning bidder will be able to implement the project according to the approved plan, with a total estimated investment of more than 300 billion VND. The project implementation period is 24 months, from the date the city issues the land lease decision.
The People's Committee of Da Nang City encourages the winning investor to consider increasing the construction delay compared to the regulations in order to create open space for the streets and increase green space for the project. At the same time, it ensures parking space, contributing to building an increasingly modern and civilized Da Nang urban area.
The real estate facility at 16 Bach Dang was leased by the People's Committee of Da Nang City to Bac Nam 79 Construction Joint Stock Company (owned by Phan Van Anh Vu) for a term of 50 years. This land has 2 frontages on Bach Dang and Tran Phu streets.
However, in May 2024, Chairman of the Da Nang People's Committee Le Trung Chinh signed a document canceling the blockade and temporary suspension of property transactions of Ms. Nguyen Thi Thu Hien (wife of Mr. Phan Van Anh Vu) and related companies.
