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Vietnam set to re-auction controversial southern land parcels that fetched US$100,000 per sq m in 2021

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Jamille Tran

Published Fri, Mar 29, 2024 · 05:00 AM
    • Ho Chi Minh City’s Thu Thiem peninsula boasts notorious swathes of unoccupied “golden land” plots that are waiting for auctions this year.
    • Ho Chi Minh City’s Thu Thiem peninsula boasts notorious swathes of unoccupied “golden land” plots that are waiting for auctions this year. PHOTO: JAMILLE TRAN, BT

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    [HO CHI MINH CITY] Developers in Vietnam are gearing up to vie for prime land in the country’s southern hub as plans to re-auction these plots are set for this year.

    But don’t expect these “golden land” lots to draw the sort of eye-popping bids they did more than two years ago, said Troy Griffiths, the deputy managing director at real estate agency Savills Vietnam.

    The auctions for more than 30,000 square metres of land in Vietnam’s southern hub caused a big stir in late 2021, with bids reaching an average of around US$100,000 per sq m.

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