Xuan Truong Joint Stock Auction Company has just announced the organization of an auction of the right to use 24 plots of land for people to build houses in the concentrated residential area of Hai Hung commune, Ninh Binh province.
The total area put up for auction is 3,771m2, including 24 land lots with an area of 85m2 to 248m2. The starting price ranges from 2.3 million VND/m2 to 34.8 million VND/m2, equivalent to about 200 million VND to more than 8 billion VND per lot, with the total starting price for all assets being 24,888,100,000 VND.
The price step applied to all land lots is 100,000 VND/m2, as a basis for determining the valid price of the auction participant.
The time for selling and receiving registration documents to participate in the auction is from 8:00 a.m. on October 20, 2025 to 5:00 p.m. on October 31, 2025, at the headquarters of Xuan Truong Joint Stock Auction Company; and from 8:00 a.m. on October 23, 2025 to 5:00 p.m. on October 31, 2025, at the headquarters of Hai Hung Commune People's Committee.
Auction participants submit documents directly to the People's Committee of Hai Hung commune or at the headquarters of Xuan Truong Auction Joint Stock Company before 5:00 p.m. on October 31, 2025. The documents submitted after this deadline will not be accepted and Xuan Truong Joint Stock Auction Company is not responsible for cases of late payment.
The auction is organized in the form of direct secret ballot in one round, according to the method of bidding up. Auction participants bid in m2 and receive land in lots; the winning price of 1 plot of land is calculated by the winning price of 1m2 multiplied by the area of the plot.
The valid return price is the return price for 1m2 of land equal to or higher than the starting price. The winning bid price must be at least one step higher than the starting price for each plot of land.
The auction will open at 7:00 a.m. on November 5, 2025, at the Hall of the People's Committee of Hai Hung commune.
