Hanoi to earn US$1 billion from auctions of land use rights (21:01 08/04/2021)

HNP - The Hanoi People’s Committee has recently released Plan No. 85/KH-UBND on auctioning land use rights in Hanoi for the 2021-2023 period.

Under the plan, Hanoi plans to hold auctions for land use rights for a combined area of 177.29 hectares in 446 projects this year. As many as 214 projects with a total area of 140.43 hectares, an average of 5,000 sq.m each, will go on auction. It is expected to obtain proceeds worth VND17.54 trillion (US$764 million) from auctioning.
Meanwhile, 232 projects each under 5,000 sq.m, up for auction totaling 36.86 hectares, are expected to bring in VND6.13 trillion (US$267 million). Total costs for site clearance and technical infrastructure building are estimated at over VND 4.8 trillion.
Among the projects, seventy-eight are in Dong Anh district, 66 in Phu Xuyen, 28 in Ba Vi, 45 in Gia Lam, 25 in Me Linh, 19 in Ung Hoa, 20 in Thuong Tin, 19 in Chuong My, and 12 in Quoc Oai.
For 2021-2023 period, the capital city also targets to auction land use rights of nearly 1,085 hectares and raise over VND104 trillion (US$4.53 billion) for the local budget.

By Tran Huong

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