Lac Viet Joint Venture Auction Company has just announced the auction of land use rights to implement the Project to invest in building commercial housing in the land use rights auction area point X13, My Ha urban area, Phu Xuyen town, former Phu Xuyen district (now Phu Xuyen commune, Hanoi city), according to Investment Policy Approval Decision No. 3022/QD-UBND dated June 17, 2025 of Hanoi City People's Committee.
According to the announcement, the total land area is about 21,343.74m2. In which, the adjacent residential land area put up for auction is 8,534.53m2, including 6 land plots coded DG-01A, DG-01B, DG-02A, DG-02B, DG-03 and DG-04. The project has a total construction area of 7,739.76m2, a total floor area of 38,698.79m2, a construction density of 75% - 100%, and a maximum height of 5 floors.
The project scale includes 84 low-rise townhouses, with an estimated population of about 336 people.
The starting price of the first auction round is determined according to Decision No. 3929/QD-UBND dated May 25, 2026 of Phu Xuyen Commune People's Committee, at 23.6 million VND/m2. With an auctioned land area of 8,534.53m2, the total value of land use rights as a basis for determining the starting price is about 201.43 billion VND.
The deposit is equal to 20% of the total value of the land plot calculated at the starting price, equivalent to more than 40.28 billion VND, according to the provisions of point b, clause 1a, Article 39 of the 2016 Asset Auction Law (amended and supplemented in 2024).
The auction is organized in the form of direct voting in multiple rounds, at least 3 mandatory rounds and applying the up-pricing method.
Notably, the auction organization must meet the conditions on financial capacity to ensure land use according to the investment project progress and other conditions according to the provisions of law.
Based on point c, clause 2, Article 9 of the Real Estate Business Law in 2023, the organization participating in the auction must have owner's equity not less than 20% of the total investment capital for projects with land use scale of less than 20ha, and at the same time ensure the ability to mobilize capital to implement the project. In case the enterprise simultaneously implements many projects, owner's equity must be allocated sufficiently to ensure the above ratio for each project.
Accordingly, the organization participating in the auction must have its own capital to implement the project not less than 133.48 billion VND and ensure the ability to mobilize capital according to regulations.
Time for selling and receiving auction participation dossiers from 8:00 AM on June 9, 2026 to 5:00 PM on June 24, 2026 at the headquarters of Lac Viet Partnership Auction Company.
Buyers of bidding documents must bring a copy of the Business Registration Certificate. In case they are not legal representatives of the organization, they must have a valid letter of introduction or authorization.
The auction is scheduled to take place at 8:30 am on July 10, 2026, at the Hall of Phu Xuyen Commune People's Committee, Thao Chinh village, Phu Xuyen commune, Hanoi city.
