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Villa sale to fund new city HQ

Update: June, 29/2013 - 09:03
Villas are being renovated in the Central Highlands City of Da Lat. The city plans to sell 16 State-owned villas at auction and release eight others later this year to help fund the costly and large-scale administrative hub project for the resort city. — VNA/VNS Photo Pham Do

LAM DONG (VNS)— Da Lat City plans to sell 16 State-owned villas at auction and lease eight others later this year.

The plan aims to help fund the costly and large-scale administrative hub project for the well known resort city in Central Highlands Lam Dong Province.

The villas are among 32 facilities being used as the headquarters of provincial agencies and departments.

The city has 212 State-owned French style villas across a total area of more than 562,663sqm.

These are classified into three groups based on their historical and cultural value, architectural characteristics, preservation capacity and profit-making ability.

The first group consists of five villas which have both historical and cultural value and are seen to represent a unique style of architecture.

Users of these villas are not allowed to reconstruct or alter any parts of their interior design or architectural structure.

The second group includes 77 villas which hold some historical and cultural value, and users of these villas are only allowed to refurbish the interior to meet usage demand while being banned altogether from changing the outside.

The remaining group consists of 96 villas which either hold little historical and cultural value, have had their style altered or have deteriorated. These villas can be demolished and replaced by new constructions for attracting investment and tourism development.

Villas in the third group are those to be offered for sale, while villas in the second group will be offered for lease, said Deputy Director of the provincial construction department Le Quang Trung.

The sale and lease proposal has already been approved by Prime Minister Nguyen Tan Dung and the first auction session is expected to start next month. New villa owners would receive the houses 30 days after the auction, Trung said.

"Price appraisal is being carried out for the villas before they are put under the hammer for sale and lease," he added.

"The funds from this venture are expected to be around VND500 billion (US$23.8 million), and will go towards the construction of the province's administrative centre project."

This ambitious project, covering 3.5ha in Tran Phu street, will become the headquarters for all agencies and departments in the city.

It has received total investment capital of more than VND1 trillion ($47.6 million) and is expected to become operational in the first quarter of 2014. — VNS


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