Lac Viet Joint Venture Auction Company has just announced an auction of land use rights to select investors to implement the project of auctioning land use rights to build low-rise houses for unused land plots in X2A Resettlement Area, Yen So Ward, Hanoi City.
The scale of the auctioned land area is 10,210.9m2, including 100 land plots. The planning - architectural indicators are determined according to the adjustment of the 1/500 scale master plan of unused land plots at Resettlement Area X2A, Yen So Ward, approved by Yen So Ward People's Committee in Decision No. 744/QD-UBND dated November 7, 2025.
Land auctioned for land use purposes is residential land in urban areas. The State implements land allocation with land use fees through land use right auctions. Investors who win auctions are allowed to use land for 50 years from the date the competent authority signs the land allocation decision, while homebuyers attached to land use rights are allowed to use land stably and long-term. The project's operating term is 50 years from the date the investor who wins the auction is allowed to decide to allocate land. The project is expected to be implemented in the period 2026-2028.
According to Decision No. 1964/QD-UBND dated June 11, 2026 of Yen So Ward People's Committee on approving land prices to calculate the value of land use rights as a basis for determining the starting price, the land price is determined to be 89,779,300 VND/m2. The total value of land use rights as a basis for determining the starting price for the entire area of 10,210.9m2 is 916.72 billion VND.
The auction form is carried out by direct voting in multiple rounds at the auction session, at least through 3 mandatory auction rounds, according to the up-pricing method.
According to Decision No. 1964/QD-UBND dated June 11, 2026 and Document No. 1366/QD-UBND dated June 19, 2026 of Yen So Ward People's Committee on updating the expected investment capital for the project, the total investment of the project is 1,242.5 billion VND.
Accordingly, the organization participating in the auction must have owner's equity of no less than 248.5 billion VND and ensure the ability to mobilize capital to implement the project. In case the enterprise simultaneously implements many projects, it must ensure appropriate owner's equity allocation to meet the requirements of each project.
The time for selling and receiving auction participation dossiers (during office hours, continuously from the listing date to 15 days before the auction opening date) is implemented from 8:00 AM on June 22, 2026 to 5:00 PM on July 7, 2026 at the headquarters of Lac Viet Partnership Auction Company.
The auction is expected to be held at 8:30 am on July 23, 2026 (Thursday) at the Yen So Ward People's Committee hall.
