A resettlement apartment project in the Thu Thiem new urban area in Thu Duc City, HCMC. The HCMC Real Estate Association has written to firms calling on them to attend the auction for 3,790 resettlement apartments in Thu Duc City – PHOTO: THANH HOA

HCMC - The HCMC Real Estate Association (HoREA) has written to firms asking them to attend the auction for 3,790 resettlement apartments in Thu Duc City’s Binh An Ward.

The HCMC government has decided to hold an auction for the resettlement apartments belonging to five apartment buildings in the Thu Thiem new urban area project, according to HoREA.

The apartments are located in prime areas, so if investors win the bidding, the prestige of their brands will be significantly enhanced, said HoREA.

However, HoREA advised the investors to carefully research on and make upgrades and embellishment plans for these resettlement apartments and supplement some amenities and services as the construction quality of these apartments is not as high as that of commercial homes.

The investors should also further research the starting prices and mobilize capital for their investment, the local media reported.

The municipal government had earlier assigned the HCMC Department of Natural Resources and Environment to complete the auction paperwork for the rights to use the 3,790 resettlement apartments prior to June 15. These apartments belong to a program to build 12,500 resettlement homes for the Thu Thiem new urban area that was completed in 2015.

HCMC had earlier held three auctions for the 3,790 resettlement apartments in Thu Thiem, but the auctions were a failure as they saw no buyers.