Hue City auctions prime land for luxury hotel developments

Hue City is organizing auctions for several prime land plots to attract investment for high-end hotel and commercial developments.

One major auction involves land located at 22-24 and 26-30A Le Loi, Thuan Hoa Ward. The site covers over 11,076 m2, with an auction area of approximately 10,688.7 m2. The project aims to build a 5-star or higher hotel with a total investment of approximately 875 billion VND. The land lease term is 50 years, and construction must be completed within 60 months of land allocation.

Additionally, the city is re-auctioning a 7,081 m2 plot located at 8-10 Phan Boi Chau and 19 Nguyen Hue in Thuan Hoa Ward after two previous attempts failed to attract bidders. This project seeks to develop a 4-to-5-star commercial and hotel complex with 80 to 100 rooms. The estimated investment for this site is over 770 billion VND. The development is permitted to reach a height of up to 44 meters with a construction density of no more than 70%.