'%3E%3Cpath%20stroke='%23000'%20stroke-width='4'%20d='m-35-37-13%2020m5%203%2013-20m5%203-13%2020m63%2042%206-9m1-2%206-9m5%203-6%209m-1%202-6%209m5%203%206-9m1-2%206-9m-96%200%2013%2020m5-3-6-9m-1-2-6-9m5-3%2013%2020m63-42-6-9m-1-2-6-9m5-3%2013%2020m5-3-6-9m-1-2-6-9'/%3E%3Ccircle%20r='24'%20fill='%23cd2e3a'/%3E%3Cpath%20fill='%230047a0'%20d='M0%200a12%2012%200%201%201%2020%2013%2024%2024%200%201%201-40-26A12%2012%200%201%200%200%200'/%3E%3C/g%3E%3C/svg%3E){kind=small}
Dai Quang Minh Gets 4.3 Hectares in Thu Thiem to Settle the Ba Son Bridge BT Deal — What Goes Up in Functional Area 6?
Short answer: On 5 November 2026 the Ho Chi Minh City People’s Committee signed Decision 7447/QD-UBND, handing four plots totalling 42,964.3 sqm (just under 4.3 hectares) in Functional Area 6 of the Thu Thiem New Urban Area, An Khanh ward, to Dai Quang Minh Real Estate Investment JSC — without an auction and without a tender — to settle the BT (build–transfer) contract for the Thu Thiem 2 Bridge, now called Ba Son Bridge. The land is zoned for apartments, mixed-use retail and services, and an international hospital, with a 50-year land-use term. Realtique’s reading of the decision and of two 6 November 2026 news reports: this is a land handover, not a launch. The land price has not been set, the gap against the BT contract value has not been reconciled, and no land-use certificate has been issued yet. For buyers, this is a signal about future supply in Thu Thiem — not a project you can buy into today.
4.3 Hectares of Thu Thiem to Dai Quang Minh — Decision 7447/QD-UBND
Table of Contents
What Exactly Happened in Functional Area 6
Under Decision 7447/QD-UBND dated 5 November 2026, the city handed Dai Quang Minh Real Estate Investment JSC four plots in Functional Area 6 of the Thu Thiem New Urban Area, An Khanh ward:
- Plot 6-7 — 17,386.8 sqm (the largest)
- Plot 6-5 — 10,572.6 sqm
- Plot 6-2 — 9,130.5 sqm
- Plot 6-6 — 5,874.4 sqm
Those four add up to 42,964.3 sqm. Both 6 November reports round this to “almost 4.3 hectares”; the 42,964.3 sqm figure is Realtique’s own addition of the individual plot sizes, because the issuing authority did not publish a total.
The form is a state land allocation with land-use fees payable, for 50 years from the signing date. It was granted without a land-use-right auction and without an investor tender, under the special mechanism in Resolution 98/2023/QH15, as amended by Resolution 260/2025/QH15.
Graphic: Realtique · Data: Ho Chi Minh City People’s Committee, Decision 7447/QD-UBND dated 5 Nov 2026
Who Is Dai Quang Minh, and Why Is This Name Always Attached to Thu Thiem?
Dai Quang Minh Real Estate Investment JSC was founded in 2011, works in property development and transport infrastructure, and now sits inside the THACO group. In Thu Thiem it is the developer of the Sala urban area — the earliest low-rise and apartment community to take shape on the peninsula — and it has also built main roads, the central square, the riverside park and the Ba Son Bridge itself.
That explains why the BT (build–transfer) model keeps recurring with this name: the company funds infrastructure, and the city pays it back with land inside the same urban area. Decision 7447 is one more link in that chain rather than an ordinary market land purchase.
For anyone shopping for an apartment in Thu Thiem, the takeaway is this: most land on the peninsula does not reach the market through open auction, but through infrastructure-settlement mechanisms. That shapes how fast new stock appears, and who ends up developing the tower next to the one you buy into.
How This Differs From the Thu Thiem Auction Set for 27 November
Two very different land flows are running on the same peninsula, and they are easy to confuse:
- Open auction — four plots in Functional Area 3, with a combined starting price of VND 16,666 billion, scheduled for 27 November 2026. The highest bidder wins and the price is formed at the session.
- BT contract settlement — what Decision 7447 does. No session, no bidders. The land price is determined afterwards and then reconciled against the value of the signed BT contract.
Under the decision, the Department of Agriculture and Environment leads the land valuation, boundary determination and on-site handover, while the Department of Finance leads payment and finalisation of the BT contract, reviewing contract value against the value of the land used to pay it so that state budget and public assets are not lost. The company receives its land-use certificate only after completing its financial obligations and meeting the prescribed conditions.
Put simply: the “4.3 hectares” is settled, but the money figure is not. That is the single most important distinction between the two flows — and the reason this news should not be used to infer Thu Thiem price levels.
What Functional Area 6 Is Zoned For — Including an International Hospital
The land is to be used for an apartment complex under the 1/500 detailed plan for a “mixed residential, integrated commercial-services and international hospital” scheme in Functional Area 6 — a plan approved back in 2015.
The international hospital detail matters more to foreign and overseas-Vietnamese buyers than to purely financial investors. Among long-term foreign residents in Ho Chi Minh City, distance to international-standard healthcare usually ranks alongside international schools and commuting time into the centre. If that component is built as planned, it fills a gap Thu Thiem still has compared with Thao Dien or Phu My Hung.
One caveat worth stating plainly: a 1/500 plan approved in 2015 plus a land handover signed in 2026 is not a construction start. Unit counts, tower counts, timeline and pricing have all yet to be announced.
Photo: Terrazzo · Wikimedia Commons · CC BY 2.0
How Foreign and Overseas-Vietnamese Buyers Should Read This
This news does not open a single purchasable unit in the short term, but it does move one long-term variable: future apartment supply in Thu Thiem.
- If you are weighing a Thu Thiem unit right now (Empire City, The Metropole, Zeit River, Sala and others), this tells you more primary supply is coming to the same peninsula over the next few years. New supply usually affects rental pricing and resale velocity more than it affects today’s primary prices.
- If you are buying to let, the hospital and retail components are the variables that would make the area more attractive to foreign tenants — but only if they get built as planned, which has no timeline yet.
- On foreign ownership quota: current law caps the share of units foreigners may own in any one apartment building. Each project carries its own cap, and that cap can only be established once a project is eligible to sell. With land only just handed over, there is no project yet to have a quota — asking about it now is premature.
A pattern we see often at Realtique: a client reads a land-handover story and asks “can I buy, and what is the price per sqm?” The honest answer here is not yet — and the milestones worth tracking are the land-valuation decision and the issuance of the land-use certificate, not the date of the news.
What Is Still Unsettled — A Watchlist
To avoid over-reading a land-handover decision, here is what had no answer as of 7 November 2026:
- The land price has not been determined. The Department of Agriculture and Environment has only just been assigned to lead the valuation.
- The gap between land value and BT contract value has not been finalised, and additional financial obligations could arise in either direction.
- No land-use certificate has been issued to the company — conditional on completing financial obligations.
- No commercial name, unit count, tower count, timeline or price has been published.
- No construction start date for either the residential component or the international hospital.
Realtique will update this article when a land-valuation decision or official developer information appears.
Frequently Asked Questions
Will apartments on these four plots go on sale soon?
No. This is a land-handover decision settling a BT contract, not a sales launch. As of 7 November 2026 there is no commercial name, no unit count, no price and no construction start date. A project may only be sold once it meets the legal conditions for selling future-formed housing.
Can foreigners buy apartments in Functional Area 6?
That cannot be answered yet, because there is no project. Vietnamese law caps the proportion of units in each apartment building that foreigners may own, and the specific cap is only fixed once a project becomes eligible to sell. When a project does appear, the thing to check is the remaining quota in the exact tower you want — not the area as a whole.
Is handing over land without an auction legal?
The decision states that the allocation follows the special mechanism in Resolution 98/2023/QH15, as amended by Resolution 260/2025/QH15, and does not go through an auction or tender. It also assigns the Department of Finance to review and reconcile the contract value against the value of the land so that state budget and public assets are not lost. That is what the document says; it is not a legal assessment by Realtique.
How is this different from the Thu Thiem land auction planned for 27 November 2026?
Different mechanism and different location. The 27 November event is an open auction of four plots in Functional Area 3, with starting prices published in advance and the final price formed at the session. Decision 7447 allocates land in Functional Area 6 to settle a BT contract, with no auction and a land price determined afterwards. Auction results should not be used to infer the value of BT settlement land, or the other way round.
Does the 50-year land term mean a future buyer’s certificate is also 50 years?
Not directly. The 50 years in the decision is the land-use term granted to the developer, counted from the signing date. The term shown on an individual buyer’s certificate depends on the rules applying to that project and to that category of buyer (Vietnamese citizen, overseas Vietnamese, or foreigner) at the time of sale. When a project launches, ask the developer to state the term that will appear on the certificate in the sale contract, and have a lawyer check it before you sign.
⚠️ Note: This article draws on Decision 7447/QD-UBND dated 5 November 2026 and two news reports dated 6 November 2026. The 42,964.3 sqm total is Realtique’s own addition of the four plot sizes, as the issuing authority did not publish a total. This is not legal or investment advice. Land pricing, BT contract finalisation, timeline and sales conditions are all unpublished and subject to change. Please verify with the competent authorities and a lawyer before deciding.
Looking at an apartment in Thu Thiem?
Send Realtique your budget and your goal (to live in, to let, or to hold). We will build a side-by-side table of the towers currently selling in Thu Thiem — price, realistic rent, management fees and the foreign-ownership quota still available in each building — before you go and view anything.
📞 Hotline: +84 866 810 689
Grace Le
Grace Le works with foreign buyers, overseas Vietnamese and investors on Ho Chi Minh City apartments — checking real rental income, management fees and vacancy for each unit before a client commits.
