The property project was sold at auction with double price, starting from more than USD$25 million to over USD$51 million.
Approximately 50 hectares of land project at Long Thanh District, nearby Long Thanh Airport, were up to auction. The land lot owns prime location in Dong Nai Provinnce. Many investors has been following the project for a long time due to great potentials earning absolute return on investment.
With location nearby Long Thanh Airport, the project fetched USD $51 million (over VND 1200 billion) at auction on July 18th, 2019. The project value started at more than USD $25 million (VND 612 billion) and closed deal with double price. Out of surprise,Thuan Loi Investment & Development Company was the only winner among six other investors.
According to a statement of Dong Nai Province’s Authority, the project was previously owned by Dong Nai Rubber Corporation. After that, the Provincial People’s Committee reclaimed the area and handed over for Land Management Center. The plot location, a favorable position considered as “golden land”, owns many strong points for controlling traffic. It has the frontage adjacent to 769 Highway and close to Long Thanh International Airport project. The area aims to become future luxury projects, for education or urban service facilities.
At the auction, Vice Chairman of Dong Nai People’s Committee Nguyen Quoc Hung asked Thuan Loi Company for early payment completing. In addition to this golden project, Dong Nai Province is completing all files of other beautiful land lots that are up to auction in Bien Hoa City. The proceeds will help deploy some key projects of the province.
(*) Reference: by Phước Tuấn_ vnexpress.net