|Premises No. 112 Nguyen Thi Minh Khai Street (District 3) managed by Vietnam Joint Stock Commercial Bank for Industry and Trade will be revoked to expand Le Quy Don school.—Photo vietnamnet.vn
HCM CITY (VNS)— The municipal administration will revoke 29 State-owned and other properties in the city that are being wrongly used, the HCM City People's Committee has announced.
The revoking of these properties is an action being taken under a prime ministerial decision, it said.
The 29 State-owned properties, covering a total area of 139,078sq.m, will be revoked from now to the third quarter of this year. They were allocated to 12 central Government organisations and State-owned companies, and have been either unused, badly degraded or leased out for profit.
The city plans to use nearly 60,000sq.m of the revoked properties to build schools and public interest projects.
Around 5,300sq.m of land located in districts 1 and Thu Duc will be transferred to the HCM City Centre of Land Fund Development to be auctioned, and the sales proceeds given to the State Budget.
The centre will auction 26,111sq.m of land and houses in the second quarter of this year, and aims to sell more than 2.1 million square metres in total this year.
HCM City is the first locality to implement the Prime Minister's decision, restructuring land use at 1,262 State-run enterprises and commercial banks covering nearly 7 million square metres. — VNS