In November 2025, the People's Committee of Khanh Hoa province has just issued a plan to auction land use rights to implement the High-end Trade and Tourism Service Complex Project at the land plot 48-48A Tran Phu, Nha Trang ward.
This is one of the "golden lands" of the central coast of Nha Trang, with the most prime location in the locality.
According to the approved plan, the land has an area of 3,642.2m2, and is leased for a one-time fee for the entire lease term, 50 years from the date of the land lease decision. The starting price for the auction of land use rights to implement the project is more than 1,180 billion VND.
The project aims to invest in the construction of modern and high-end commercial and tourism services to do business in accordance with legal regulations.
The project will provide accommodation, resort, health care services, restaurants, bars, conferences, swimming pools, gyms, display and sale of tourism - commercial products.
The entire investment capital of the project is outside the budget, implemented by the winning investor. The total minimum investment of the project is determined to be more than 1,180 billion VND.
According to the plan, the project implementation progress is a maximum of 4 years from the date of the land lease decision. Within the first year, the investor must complete the capital contribution according to regulations.
If the progress is violated without the competent authority approving the adjustment, the project may have its land revoked or terminated operations according to the provisions of law.
The auction is expected to be held in the fourth quarter of 2025 or January 2026.
The land plot at 48-48A Tran Phu was granted a certificate of land use rights, house ownership rights and assets attached to the land to the Agricultural and Rural Development Bank Services Company Limited (under Agribank) 15 years ago.
The investor has paid the budget 236.6 billion VND for land auctions. However, the project was not implemented afterwards, Khanh Hoa Provincial People's Committee issued a decision to reclaim the land with the reason of "violating the law on land management".
According to regulations, in this case, investors are not compensated for land and assets attached to land, unless they are in a case of force majeure. The business side believes that the delay is due to the seizure order of the Ministry of Public Security, so it should be considered "irresistible".
After many years of problems, Deputy Prime Minister Ho Duc Phoc has issued instructions and conclusions to remove legal difficulties, paving the way for the re-auction of the golden coastal land - which has been abandoned for a long time, causing great waste for the locality.
