The former Chi Lăng stadium site in central Da Nang has failed to find a buyer at seven auction notices, Tiền Phong reports. The latest sale, on 29 October, opened at 8,550 billion VND and drew no winning bid.
The starting price has fallen by more than 1,150 billion VND from the original figure of over 9,700 billion VND. The Da Nang Property Auction Service Center will report to the city's civil judgment enforcement agency and hold a new auction once a new price is set.
The plot covers more than 55,000 square metres in Hải Châu ward, fronting Lê Duẩn, Ngô Gia Tự, Hùng Vương and Chi Lăng streets. The stadium was sold in 2010 to Thiên Thanh Group, chaired by Phạm Công Danh, for a high-rise commercial complex.
The land was split into 10 land-use certificates that were pledged as bank collateral, and after Danh's arrest in July 2014 it became an asset tied to a major economic case. The stadium was left empty for years and later demolished to enforce a court judgment.
Terms for a buyer include a 50-year land-use term counted from registration of the transfer and a land-use fee of more than 139 billion VND. The Government Inspectorate has concluded that the city's 10 per cent reduction of that fee was improper and that the amount should be recovered.
The paper also describes conditions around the empty plot. Waste and construction debris remain along Lê Duẩn despite warning signs from Hải Châu ward, and rubbish is dumped near camera-enforcement signs on Ngô Gia Tự. Vehicles and goods occupy sidewalks on Ngô Gia Tự and Hùng Vương, a route used by foreign visitors heading to Chợ Cồn, and Chi Lăng Street has become a parking area.
Sources
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