FLC wins auction to buy land worth $40m

August 07, 2017 - 17:00

FLC Group has won the auction organised by Number 5 Auction JSC for the purchase of a 64,077sq.m. land lot in Đại Mỗ Ward, Hà Nội’s Nam Từ Liêm District.

The perpective of the FLC Garden City project in Hà Nội. FLC plan to build 15,000 cheap apartments from 25 to 50sq.m, priced from $17,600 to 22,000 per unit. — Photo courtesy of FLC

Viet Nam News

HÀ NỘI — FLC Group has won the auction organised by Number 5 Auction JSC for the purchase of a 64,077sq.m land lot in Đại Mỗ Ward, Hà Nội’s Nam Từ Liêm District.

The starting price of the lot was US$14 million and FLC’s offer was $38 million – almost triple the price.

FLC is working on completing the necessary procedures to begin developing this project. The group plans to build 91 townhouses, 54 villas, a kindergarten, high-rise apartments and social housing on this land and start operations by the second quarter of 2019.

FLC Group also recently announced its plan to build 15,000 cheap apartments from 25sq.m to 50sq.m, priced from $17,600 to 22,000 per unit, which is great news for the market and low-income earners. — VNS

Tags low-income earners cheap apartments Đại Mỗ Ward

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