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Hanoi targets over 1 bln USD from auctions of land use rights

Hanoi expects to gross more than 23.67 trillion VND (over 1 billion USD) from auctioning land use rights at 446 projects on 177.29 ha this year, the municipal People’s Committee has said.
Hanoi targets over 1 bln USD from auctions of land use rights ảnh 1Auctions of land use rights are hoped to generate over 23.67 trillion VND for Hanoi this year (Photo: VNA)

Hanoi (VNA) - Hanoi expects to gross more than 23.67trillion VND (over 1 billion USD) from auctioning land use rights at 446 projects on 177.29 ha this year, the municipal People’s Committee has said.

Total costs for site clearance andtechnical infrastructure building are estimated at over 4.8 trillion VND.

The capital city wants to put 214 projects, each upwards of 5,000 sq.m, and 232 others,each under 5,000 sq.m, up for auction. 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, 20in Thuong Tin, 19 in Chuong My, and 12 in Quoc Oai.

According to the city’s plan, over 1,084 ha of land will be auctioned in the 2021-2023 period, bringingin more than 104 trillion VND.

Vice Chairman of the municipal People’s Committee Nguyen Trong Dong saidpromoting the auction of land use rights aims to make effective use of landfunds and also meet the increasing needs of local people and businesses.

It also helps create more capital sources for investment in social and technicalinfrastructure, and boosts the building of new-style rural areas.

The Hanoi People’s Committee has ordered enhanced State management and greaterefficiency in auctions of land use rights in localities. Chairpersons of People’sCommittees in districts and towns are responsible for the auctions, grantingcertificates to auction winners, and managing winners’ investment andconstruction activities.

Districts and towns are urged to speed up site clearance and the constructionof technical infrastructure, while completing procedures to organise auctions.

According to the Hanoi Department of Natural Resources and Environment,auctions of land use rights in 2020 met only 52 percent of the annual plan,with 72 ha of land auctioned for some 12 trillion VND.

The department attributed the results to the COVID-19 pandemic, complicatedauction procedures, and a shortage of capital for the construction ofinfrastructure./.

VNA
#Hanoi#land use rights#Hanoi People’s Committee#property market#real estate#Dong Anh district#Phu Xuyen#Ba Vi#Gia Lam#updated Vietnam news#Vietnamplus#Vietnam News Agency
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