FLC Joint Stock : won the auction to purchase a land lot worth nearly 40 million USD in Dai Mo, Hanoi

FLC Garden City, a project developed by FLC in Dai Mo, Hanoi.

On 64,077 m2 of land, the Group plans to develop a complex including townhouses, villas, high-rise apartments, social housing and kindergarten and begin operation at the end of quarter II/2019.

On July 25th, FLC Group JSC won the auction organized by Number 5 Auction JSC for the purchasing right of the DM1 land lot in Dai Mon ward, Nam Tu Liem district, Hanoi.

In particular, among 17 participating entities, the representative of FLC Group - Deputy General Director La Quy Hien - won the use right of a 64,077m2 land lot. The starting price was 14 million USD while FLC's offer was 38 million USD - a triple in price.

FLC is currently finishing the next procedures to start developing this project. The Group plans to build 91 townhouses, 54 villas, kindergarten, high-rise apartments and social housing on this land and start operation by quarter II/2019.

FLC Group has also recently announced their plan to build 15,000 cheap apartments from 25 to 50m2, priced from 17,600 to 22,000 USD per unit. This is great news for the market and low-income earners.

FLC News