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Gold Projects – No One Wants To Buy

Gold projects - no one wants to buy

There are no participants in the auction, the V – Ikon project, which owns a prime location on Dien Bien Phu street, Binh Thanh district, will continue to suffer from mosaics.

It is time to hold the auction of V – Ikon project at 129A – 131 – 131A – 133-135A – 153/33 Dien Bien Phu Street, Ward 15, Binh Thanh district, HCM city. Debt Management and Agribank Asset Management (Agribank AMC) will take place this morning, September 19, Starting price is expected VND319.5 billion.

~~>>Read more information about the real estate market here: Vietnam real estate market

However, representatives of Agribank AMC in HCM City said: because there are no customers registered so the auction cannot take place.

This project of the investor is Viet Thuan Thanh Company Limited. This is not the first time this project has been offered, as before in May 2017, Agribank AMC also announced the auction of this project with the starting price of VND373.5 billion. Auction participants will deposit 15% of the initial price, equivalent to VND47.9 billion.

Gold projects - no one wants to buy
V-Ikon is one of the very few office buildings with the helicopter deck.

In order to “stimulate demand”, in this auction, the value of the V-Ikon project has decreased VND54 billion. Although the price has dropped sharply, there are still no buyers interested in bidding.

The project is designed with a high V icon approximately 126m, representing the name of the investor is Viet Thuan Thanh.

***Update on new information on the real estate law in Vietnam here: Vietnam real estate law

The building has 4 basements and 26 floors with office space of 11,000sqm. Although the installation of glass from mid-2013 so far the work is also very chaotic because investors can not afford to continue to improve.

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Gold Projects – No One Wants To Buy
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