On July, 25, FLC Group Joint Stock Company won the auction of land DDM1 in Dai Mo ward, South Tu Liem district, Hanoi held by No. 5 Auction Joint Stock Company in cooperation with Project Management Board of Nam Tu Liem district.
FLC group has surpassed 16 other units to win the auction of 64,077 square meter of land with the winning price being VND 860billion (US$37.88 million), 3 fold higher than the adjustable tender price.
FLC expects to invest in the 64,077 square meter area with 91 terraced houses, 54 villas, highrises, kindergartens and subsidized houses that are predicted to be completed and put into use at the end of Q2/2019.
Representatives of the FLC Group said that FLC is completing the procedures with the Hanoi People's Committee and other agencies to soon implement the project.
Recently, FLC also plans to build 15,000 25-50m2 low-cost apartments, with the price being VND 400-500 per unit.