The Da Nang government has approved the land use right auction plan for the commercial and service center area (supermarket) southeast of the student hall of residence at Hoa Khanh Nam Ward, Lien Chieu District.

The area for land auction to implement commercial and service development projects is near the Administrative Center of Lien Chieu District. Photo: TRIEU TUNG

The ​​19,197m² area borders Tran Van Ky Street to the northwest, Le Doan Nha Street to the southwest, Nguyen Sinh Sac Street to the southeast, and a planned road to the northeast.

The land use purpose is to be leased for commercial and service building (supermarket) in the form of annual payment.

The auction winning unit price will be kept unchanged for 10 years. After the stabilisation period, the land rental price shall be adjusted according to the land rent collection policy in the case of land rental with annual payment not through auction. The adjustment level must not exceed 30% of the auction winning land rental price or the land rental price of the preceding stable period.

The term of use is 50 years from the date of signing the decision to recognise the auction result.

Organisations and individuals eligible to participate in the auction must belong to the subjects who are leased land by the State in accordance with the national Land Law and have the need to use land to implement the investment project for the right purposes, plans and criteria that have been approved by competent State agencies.

At the same time, they are required to purchase dossiers for the upcoming auction, have enterprise registration certificates with suitable business fields, and have legal capital suitable for business fields as prescribed by law. They must ensure the conditions for the implementation of investment projects as prescribed.

Before the auction, individuals and organisations must make a 20% deposit of the starting price of the auctioned asset. The collection and payment of the deposits and the handling of the deposits shall comply with the Law on Property Auction.

It is expected that an online auction will be held in the fourth quarter of 2022. The auction method of upward bidding with a price step of 5% /year of land rent according to the starting price will be conducted

Within no more than 2 working days since the auction ends, the asset auction organisation unit or the land use right auction council, in special cases, shall transfer the auction results, minutes of the auction, and list of auction winners for the Da Nang Center for Land Fund Development.

Within 2 working days, the city’s Center for Land Fund Development shall make a dossier and send it to the municipal Department of Natural Resources and Environment for submission to the municipal People's Committee to issue a decision on recognition of winning results of the auction.

Reporting by NAM PHUONG - Translating by M.DUNG