Sacombank is selling a series of apartments and real estate properties in downtown Ho Chi Minh City. Among them is a property that has been unsuccessfully auctioned 10 times before.
Sacombank has repeatedly failed to sell properties belonging to Xi Grand Court project (District 10, Ho Chi Minh City). Photo: Cat Linh Group.
In its list of assets being auctioned to recover debts, Sacombank is offering 19 apartments in the Xi Grand Court project (256-258 Ly Thuong Kiet, Ward 14, District 10, HCMC) for auction.
Notably, this set of apartments has been previously auctioned multiple times by Sacombank, with a continuously decreasing price, but still with no buyers.
In this latest auction, the starting price for the set of 19 apartments has been reduced by VND 2 billion, with the starting bid for the entire set being VND 77 billion, equivalent to a net reduction of nearly 4% compared to the previous auction.
Among the apartments, 9 units with 1-3 bedrooms have been basically completed, while 10 Penthouse units are still in their raw state.
Specifically, the unfinished Penthouse units are being auctioned for starting prices ranging from VND 5.1 to 7.5 billion. One of them, a 2-story Penthouse unit with 4 bedrooms and 4 bathrooms on floors 28 and 29 of Building B, with a total area of 165 m2, is being auctioned for VND 7.49 billion, a nearly 3% decrease compared to the previous auction.
Another Penthouse unit with a lower starting price is a 2-bedroom, 3-bathroom unit on floors 28 and 29 of Building B with a total area of 113 m2, being auctioned for VND 5.14 billion, equivalent to nearly VND 46 million/m2.
Meanwhile, two of the apartments in this set are being auctioned at the lowest starting price, including a 53 m2 unit with 1 bedroom and 1 bathroom in Building C, which has been basically completed and is being auctioned for VND 2.39 billion, a nearly 7% decrease compared to the previous auction.
In July 2020, this set of properties was first auctioned by Sacombank with a starting price of VND 100.8 billion. After 3 years with 9 unsuccessful auctions, the price of this set of properties has been reduced by nearly VND 24 billion, equivalent to 31%.
In the same project, Sacombank is also selling an additional 870 m2 of commercial floor space on the 5th floor with a starting price of VND 41 billion, which is also lower than the previous auction. At the same time, over 13,000 m2 of basement floor space (B1) is being auctioned for a starting price of VND 220 billion, a reduction of up to VND 84.1 billion, and over 2,000 m2 of commercial and service floor space on the 7th floor is being auctioned for a starting price of VND 104 billion, a decrease of nearly VND 3 billion.
It is known that the assets being auctioned were previously owned by Phu Son Thuan Construction Investment Joint Stock Company. The Xi Grand Court project is also noteworthy as it owns four facades in the center of District 10, Ho Chi Minh City.
In addition to the above-mentioned assets, a series of other real estate properties in the center of Ho Chi Minh City are also being sold by Sacombank to enhance the sale of non-performing loans.
Specifically, the bank is currently auctioning a 54-square-meter apartment located in Block B, 212 Nguyen Trai Apartment, Nguyen Cu Trinh Ward, District 1, Ho Chi Minh City. The apartment is collateral for a loan at the bank, but the borrower failed to fulfill their repayment obligations, so the bank proceeded to seize and sell the property for recovery.
The bank’s starting price for the property is 3.4 billion dong, equivalent to nearly 63 million dong/square meter.
In District 5, Sacombank is auctioning the land use right, ownership of houses, and other assets attached to the land at 28-30 Nguyen Bieu, Ward 1, with a starting price of 282.2 billion dong. This property has an area of 1,774 square meters, which belongs to Ms. Nguyen Thi Hong and has been authorized by Sacombank to settle the debt.
In District 6, Sacombank is also selling many real estate properties such as the land at 526B Hau Giang, Ward 12, with an area of 30.2 square meters and a selling price of 4.5 billion dong (negotiable); the land at 551/12A Pham Van Chi, Ward 7, with a land area of 106 square meters and a selling price of 7.5 billion dong (negotiable).
In addition, Sacombank also has real estate properties for sale in District 7, District 10, Tan Binh, Binh Thanh, Go Vap, Tan Phu, and other areas.
In particular, in Ho Chi Minh City alone, Sacombank’s list of liquidated assets includes nearly 20 large and small real estate properties with a total starting price of nearly 1,200 billion dong.
Among them, the most valuable real estate being sold by the bank in Ho Chi Minh City is 59,937.8 square meters of land and factories on land at Plot A18, Hiệp Phước Industrial Park, Long Thoi Commune, Nha Be District. This is the land area leased by the infrastructure investment company Hiệp Phước Industrial Park Joint Stock Company with a land use term until December 29, 2048. The starting price for this property is 365 billion dong.
@Zing News
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