Ninh Binh province in northern Vietnam has announced two upcoming auction sessions for prime land plots in the former city of Phu Ly  and the Hai Tien Commercial Urban Area.

The first auction session will take place on the morning of October 3. This auction concerns the land use rights for the "Commercial and Service Area combined with Housing Project in the Northwest of Liem Tuyen Interchange".

This land plot spans 15,066 sq.m, with 8,081 sq.m being put up for auction, including 5,535 sq.m for residential land and 2,546 sq.m for commercial and service land. The plot is adjacent to key medical infrastructure and transportation routes, providing favorable conditions for project development.

The starting price for the land and assets attached to it is over VND349.54 billion (nearly $13.3 million), with the residential land valued at over VND158.28 billion and the commercial and service land at over VND64.29 billion. The deposit required to participate in the auction is over VND69.9 billion (nearly $2.66 million).

The Province Asset Auction Service Center also announced an auction for the land use rights of a 1.25-ha commercial-service plot, located immediately north of Hong Phu Bridge, adjacent to National Highway 1A, in the center of the former city of Phu Ly.

This "golden land" plot has four sides bordering important transportation infrastructure, making it an ideal location for developing modern commercial services. The starting price for this land and attached assets is over VND584.69 billion (over $22.23 milion), of which the value of the commercial-service land use rights accounts for VND121.31 billion. The deposit required to participate in this auction is over VND116.93 billion (over $4.4 million).

Application documents for this auction will be sold from August 29 to September 17. Property viewing will take place from September 8 to 10, and the auction is scheduled for 2pm on October 3.