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Tan Hoang Minh Group cancels auction contract of “golden land” in Thu Thiem

SGGP
Many social media sites on January 11 have spread a document that has been supposed to be released by Tan Hoang Minh Group to announce it terminates the auction contract of the land lot coded 3-12 in the Thu Thiem New Urban Area in HCMC’s Thu Duc City.
Tan Hoang Minh Group cancels auction contract of “golden land” in Thu Thiem ảnh 1 Four land plots in the functional area No.3 in Thu Thiem New Urban Area
Tan Hoang Minh chairman and general director Do Anh Dung sent a letter to leaders of the Party and State, the HCMC People’s Committee to cancel the auction contract of the plots of land 3-12 in the functional area No.3 in Thu Thiem Urban New Area. The company will accept to be imposed all sanctions for unilaterally terminating the contract in accordance with the law.
The cancelation aims to ensure the stability of the real estate market in the Thu Thiem New Urban Area because the high price of the auction might lead to disturbances in the market, he said.
Director of the Property Auction Service Center under the HCMC Department of Justice, Nguy Cao Thang said that the center has not received any document on cancelling the auction contract of four investors yet.
On December 10, 2021, the Property Auction Service Center under the HCMC Department of Justice held an auction for four land plots in the functional area No.3 in Thu Thiem New Urban Area.
The Viet Star Real Estate Investment Company Limited under Tan Hoang Minh Group won the auction of the land plots covering on an area 10,059.7 square meters with the record price of  VND24,500 billion (US$1.08 billion).

By Do Tra Giang – Translated by Kim Khanh

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