Home / Hanoinews
Hanoi to raise $1 billion from auctioning land use rights at 446 projects
Ngoc Thuy 12:02, 2021/04/07
The auctioning of land use rights in Hanoi is to ensure efficient utilization of land funds and meet the growing demand for lands of the people and enterprises.

Hanoi plans this year to hold auction for land use rights for a combined area of 177 hectares in 446 projects, for which the city could obtain proceeds worth nearly VND24 trillion (US$1 billion) from the process.

 Lands in Gia Lam district would subject for auction. Photo: Kinhtedothi

The information was revealed in the plan No.85/KH-UBND issued by the municipal People’s Committee on auctioning of land use rights in Hanoi for the 2021-2023 period.

Under the plan, there are 214 projects with a total area of 140.43 hectares, or an average of over 5,000 square meters each will go on auction. The city expects to obtain proceeds worth VND17.54 trillion (US$764 million) from auctioning.

Meanwhile, the remaining 232 projects with area of less than 5,000 square meters each would help raise VND6.13 trillion (US$267 million) for the city.

Dong Anh district is home to the largest number of projects to go on auction with 78, followed by Phu Xuyen (66), Gia Lam (45), Ba Vi (28), Me Linh (25), Thuong Tin (20), Ung Hoa (19), and others.

 For the 2021-2023 period, Hanoi would continue to   auction land use rights of nearly 1,085 hectares and raise over VND104 trillion (US$4.53 billion) for the local budget.

“The auctioning of land use rights in Hanoi is to ensure efficient utilization of land funds and meet the growing demand for lands of the people and enterprises,” said Vice Chairman of the Hanoi People’s Committee Nguyen Trong Dong.

“Proceeds from auctioning would be allocated for expanding social and technical infrastructure development,” Dong added.

Throughout the auctioning, Dong requested local authorities to enhance state supervision and speed up the site clearance task at each project, if any.

In 2020, due to the Covid-19 pandemic and complicated procedures related to the auction, only 52% of the target or 72 hectares had been successfully auctioned for VND12 trillion (US$522.78 million).

TAG: Vietnam Hanoi land use rights projects infrastructure development Covid-19 pandemic
Other news
09:58, 2021/58/15
E-government key to improve Hanoi public satisfaction on governance: Expert
Every teacher, public servant, or healthcare staff has to adapt to high quality administrative services.
15:45, 2021/45/14
Some 350,000 Covid-19 vaccine doses to be administered for Hanoi residents
Hanoi attains the highest inoculation rate nationwide in the first vaccination campaign.
10:50, 2021/50/10
Vietnam Stock Exchange set to have registered capital of US$130 million
Under the decision, the Vietnam Stock Exchange (VNX) would operate under the form of single member limited liability company and 100% owned by the Ministry of Finance.
20:06, 2021/06/09
Hanoi team ranks 1st at National Archery Championships 2021
The 2021 National Archery Championships ended up with great successes of Hanoi archers.
18:10, 2021/10/08
First smart electric bus underway in Hanoi
The introduction of electric bus to Hanoi mass transit network is expected to encourage local residents to switch to public transport.
17:02, 2021/02/08
New US Embassy headquarter in Hanoi - a symbol of bilateral relation
The new embassy building demonstrates the partnership and friendship between the US and Vietnam, said the outgoing US Ambassador to Vietnam Daniel Kritenbrink.