HCM City targets $3.2B revenues from land use fees in 2025

August 15, 2025 - 08:11
HCM City hopes to collect VNĐ86.3 trillion (US$3.2 billion) in land-use fees this year through a series of major land auctions.

 

HCM City hopes to collect VNĐ86.3 trillion (US$3.2 billion) in land use fees this year. — VNS Photo Nguyễn Diệp

HCM CITY — HCM City hopes to collect VNĐ86.3 trillion (US$3.2 billion) in land-use fees this year through a series of major land auctions.

Nguyễn Minh Nhựt, acting director of its Department of Natural Resources and Environment, announced this at a People’s Committee meeting held last Friday to review the socio-economic performance for July and outline key tasks for August.

Three prime land lots will be auctioned in the Thủ Thiêm New Urban Area, with the municipal People’s Committee already approving investment policies and auction plans.

Seven land lots outside Thủ Thiêm are being prepared for auction.

Three of them are earmarked for project development and are undergoing 1:500 detailed planning before land valuation and bidding can proceed.

Another four – smaller -- plots, which do not require detailed planning, are already in the regulatory process and expected to go under the hammer this year.

Also in the works is the auction of 3,790 apartments in Thủ Thiêm.

The city Party Standing Committee has approved it, and implementation plans will be unveiled soon.

Nhựt said recent land valuation works have contributed to the city’s socio-economic growth, boosted budget revenues and stimulated the property market.

“It has also helped speed up legal procedures for land use rights, benefiting both developers and the public.”

The department has urged the People’s Committee to approve land prices for nine projects that will generate estimated revenues of of VNĐ52.6 trillion (US$2.3 billion).

Major projects include Korean retailer Lotte Group’s in Thủ Thiêm worth VNĐ16.2 trillion ($710 million) and the Cần Giờ coastal urban area work with a price tag of VNĐ27.3 trillion ($1.2 billion).

Two others are awaiting approval from the city's Land Valuation Council: the Thủ Thiêm Observation Complex, costing around VNĐ4 trillion ($175 million) and the Sông Việt Urban Area, worth VNĐ168 billion ($7.3 million). 

In the coming months, the department plans to submit 23 others with estimated revenues of VNĐ8 trillion ($350 million).

Earlier this year, Bình Dương and Bà Rịa–Vũng Tàu provinces approved land prices for 44 plots, generating VNĐ7.5 trillion ($328 million) in revenue.  

With its target of collecting VNĐ86.3 trillion in land-use fees, the city is committed to speeding up auctions to ensure completion in 2025, Nhựt said. — VNS

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