Da Nang – The Chi Lang Stadium land plot has just been announced for its third auction with a starting price of 9,300 billion VND, due to a lack of buyers.
The Property Auction Service Center of Da Nang City announced that the third auction for land use rights at the Chi Lang Stadium High-Rise Commercial and Service Complex (Hai Chau Ward) will take place on July 29.
The assets put up for auction include 10 land use right certificates for 14 land plots in the stadium area. The new starting price is 9,300 billion VND, down by more than 230 billion VND compared to the second auction (9,550 billion VND) and down by more than 386 billion VND compared to the first auction in April (over 9,706 billion VND).
Previously, both auctions had to be canceled because no clients submitted applications to participate.
Demolition of Chi Lang Stadium, May 2026. Photo: Nguyen Dong
Demolition of Chi Lang Stadium, May 2026. Photo: Nguyen Dong
The auction of the land plot aims to execute part of the judgment related to the case of Pham Cong Danh and his accomplices. This asset was previously ordered to be seized by the court during the 2016 – 2018 period to ensure the execution of a financial judgment of nearly 3,946 billion VND.
The Chi Lang Stadium land plot covers an area of over 55,000 square meters, occupying a prime location in the center of Da Nang City with four frontages surrounded by Le Duan, Chi Lang, Ngo Gia Tu, and Hung Vuong streets. In 2010, the city government handed over the entire land plot to Thien Thanh Group to invest in a high-rise commercial and service complex project. However, the project fell into stagnation in 2014 after Mr. Pham Cong Danh was prosecuted and arrested.
By 2024, the Government allowed the adjustment of the planning for the Chi Lang Stadium area, resolving long-standing legal obstacles to give the local authority a basis to handle the asset. As of mid-July 2026, most of the construction items on the land have been demolished. The construction unit is completing the cleanup and leveling to hand over a clean site for the auction.
Nguyen Dong
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