As Lao Dong newspaper has reported, land prices on both sides of Hung Vuong street passing through Phong Chau ward, Phu Tho ward adjacent to Phu Ha industrial park have increased rapidly.
According to Mr. Han Duc Manh - representative of CMT Real Estate Company, the "industrial park effect", the strength in business services has caused land prices on both sides of Hung Vuong street to increase sharply, priced from 7 - 8 billion VND/plot of land 5m above the road surface.
The Urban Housing Area project on both sides of Hung Vuong street, former Phu Tho town (section passing through Phu Ha industrial park) was approved by Phu Tho Provincial People's Committee according to Decision No. 2215/QD-UBND dated October 18, 2023.
On February 21, 2025, Phu Tho Provincial People's Committee issued document No. 350/QD-UBND, deciding to approve the investment policy of the above project.
Then exactly 3 months later, Phu Tho Town People's Committee issued Decision 1433/QD-UBND, approving the compensation and support plan for the project.
The total land area of the project is 137,982.1m2. Of which, the residential land area in urban areas is 32,705.6m2, the commercial and service land area is 12,099.6m2; the land area for public entertainment and community activities is 39,764.7m2...
The State will allocate land with land use fees for residential land areas in urban areas; lease land with one-time land rent for the entire lease term for commercial and service land areas.
The term of residential land use in urban areas is long-term; the term of commercial and service land lease is 50 years. For land areas not auctioned, after the project is completed, it will be handed over to the locality for management.
According to records of Lao Dong Newspaper reporters in the last days of May, the land is located adjacent to the west side of Phu Ha industrial park, adjacent to Hung Vuong street (near the intersection of Hung Vuong street and provincial road 320B).
It can be seen that the current status of this land area is flat, favorable for building technical infrastructure, building houses, and in the future it can also develop strongly in trade and services.
When land prices along Hung Vuong street increase, the auction of land use rights here will bring in a large source of revenue for the state budget.
Mr. Tran Van Hung - a resident of Phu Tho ward - shared: "Land along Hung Vuong street is the most valuable in the old Phu Tho town, Phu Ha industrial park is mainly for processing and manufacturing, so it is not polluted, and the landscape is increasingly modern.
On May 27, Phu Tho Provincial People's Committee issued Decision No. 1674/QD-UBND, approving the land use right auction plan to select investors to implement the project.
According to the decision, the current status and technical infrastructure of the auctioned land area have clear boundaries, no land disputes and technical infrastructure has not been built and completed according to the detailed plan.
Phu Tho Provincial People's Committee said that the winning bidder is responsible for building and completing technical infrastructure and architectural works according to the approved plan.
In the total area of land use right auction organization, the state invested in infrastructure and related costs of nearly 51.8 billion VND; Viglacera Corporation - JSC invested in leveling the ground before handing over land to Phu Tho Land Fund Development Center with an investment value of nearly 3.2 billion VND.
Phu Tho Land Fund Development Center is expected to organize land use right auctions from the second quarter of 2026 to the second quarter of 2027. The starting price will be approved and announced by the Chairman of the Provincial People's Committee before organizing the auction.
