Compared to the sale in August 2018, BIDV offers a cheaper starting price of up to hundreds of billion VND with 3 real estate blocks in Binh Chanh and Ben Nghe Ward District 1 (Ho Chi Minh City) with 5.2 million shares. ballot of Thuan Thao Joint Stock Company.
BIDV Phu Tai branch announced that the property auction is all debts of Thuan Thao Nam Saigon Joint Stock Company and 95 individual customers. In particular, the debt of Thuan Thao Nam Saigon Joint Stock Company has a total outstanding loan of VND 462 billion, including VND 230 billion of principal debt and VND 232 billion of interest balance. Debt packages of 95 other individual customers have total outstanding loans of VND 2,273 billion, including VND 978 billion of principal outstanding loans and VND 1,295 billion of outstanding loans.
The collateral is 3 land use rights and properties attached to land in Ho Chi Minh City. Specifically, the land use right and properties associated with the land at 100B, Bui Thi Xuan Street, Ben Thanh Ward, District 1 is 275m2 wide. The second is the right to use land and assets attached to 16.5ha of land in Quarter 2, Tan Tuc Town, Binh Chanh District. The third asset is the land use right and the property associated with the land is 5.4 ha in Quarter 4, Tan Tuc Town, Binh Chanh District. There are also 5.2 million shares of Thuan Thao Joint Stock Company owned by Ms. Vo Thi Thanh.
The highest 5-star hotel in Phu Yen of Thuan Thao Nam Saigon Joint Stock Company was sold by BIDV up to 11 times but no one bought it.
BIDV set a reserve price for this debt of VND 800 billion. This is the second time in 2020 that BIDV will sell this debt. In August 2018, BIDV once auctioned off this property with a starting price of VND 1,208 billion. Thus, the starting price has been lowered to hundreds of billion cheaper than the first time but has yet to find a buyer.
Previously, BIDV Phu Tai announced the 11th auction of the assets of Thuan Thao Joint Stock Company. The auctioned property block consists of construction works and other assets attached to the leased land of the State of CP Joint Stock Company. Concord. Including the 5-star Cendeluxe 5-star hotel and other properties attached to the State land for rent with annual rental payment. This property is owned by Thuan Thao Joint Stock Company before being distrained and handled by the Civil Judgment Execution Department of Tuy Hoa and Phu Yen.
Thuan Thao Nam Saigon Joint Stock Company is an enterprise established by Ms. Vo Thi Thanh, Chairman of Thuan Thao Joint Stock Company since 2004 with the goal of encroaching real estate after success in the field of passenger transport. Ms. Vo Thi Thanh was the recipient of the “Golden Rose” of Phu Yen.
After its establishment, the company was approved by the Ho Chi Minh City People’s Committee as an investor in the West Saigon social housing project. In addition to this project, Thuan Thao Nam Sai Gon Joint Stock Company has an ambition to expand investment and develop a series of tourism real estate projects such as 5-star Cendeluxe Hotel, Thuan Thao Land, Golden Beach Resort & Spa … in Tuy Hoa, Phu Yen province.