HCMC to Auction 3 Thủ Thiêm Land Plots for $200M in Q2
Ho Chi Minh City (HCMC) is set to auction three prime land plots in Thủ Thiêm New Urban Area in Q2 2025, with a starting price exceeding VND 5 trillion ($200 million).
The plots, labeled 1.2, 1.3, and 3.5, are part of a larger plan to revive stalled land auctions in Thủ Thiêm after previous record-breaking bids were withdrawn.
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Details of the Land Plots for Auction
📍 Plot 1.2: 7,900 m² – Mixed-use residential
📍 Plot 1.3: 5,000 m² – Mixed-use residential
📍 Plot 3.5: 6,400 m² – Mixed-use apartment and commercial complex
Valuation Update: The new land pricing follows the 2024 Land Law, which has adjusted valuation methods, ensuring a more transparent and stable auction process.
History of Record-Breaking Auctions & Withdrawals
In December 2021, four Thủ Thiêm land plots were sold for a record VND 37 trillion ($1.5 billion). However, all winning bidders failed to complete payments and forfeited their deposits.
Notable case:
- Plot 3.12 was won at VND 2.43 billion/m² ($100,000/m²)—8.3 times the reserve price.
- The winning bidder, a subsidiary of Tân Hoàng Minh, later backed out.
These plots will be re-auctioned in June 2025 under stricter bidding regulations.
Thủ Thiêm: A Future Financial Hub
Thủ Thiêm, covering 930 hectares, is positioned as HCMC’s future financial district, located across the Saigon River from District 1.
Major Development Plans by 2030:
- International Financial Center
- University City Zone
- High-Tech Expansion Phase 2
HCMC will auction an additional 239 hectares of land, including 49 plots in Thủ Thiêm and 189 hectares across 10 other projects, for mixed-use, commercial, and educational developments.
HCMC’s Land Market Sees Strong Recovery
Real Estate Transactions Surge:
- $60M in real estate transaction taxes collected in Q1 2025 (+30% YoY)
- 50 commercial housing projects (49,000 units) approved
With these high-profile land auctions, HCMC’s real estate market is regaining momentum, attracting foreign and domestic investors to one of Vietnam’s most promising urban zones.
📢 Looking to invest in HCMC real estate? Stay informed on upcoming land auctions and development projects!
