On May 9, information from the office of the People's Committee of Da Nang City, Khai Bao Joint Stock Auction Company announced the organization of an online auction of land use rights for the land plot at 16 Bach Dang, Thach Thang Ward, Hai Chau District, Da Nang. The auction will start from 2:00 p.m. to 3:00 p.m. on July 10 (the auction time is taken according to the time agreed to be displayed on the online auction website).
The land plot at 16 Bach Dang has an area of 1,795m2, planned to be used for commercial and service purposes with a term of 50 years. The location of the land adjacent to Bach Dang and Tran Phu streets, along with existing works. The current status of the land has completed site clearance and technical infrastructure.
The planning allows the construction of 15-25 floors above ground and a maximum of 5 basements, with a maximum construction density of 80%. Approved functions include offices, luxury hotels, tourist apartments and other tourism services. The starting price for the land is more than 310 billion VND (excluding VAT and taxes and fees). The deposit to participate in the auction is 20% of the starting price.
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 Mr. 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.
