Photo: Hoang Thach Van

The Prime Minister has approved a request from the HCM City People's Committee to accept new bids on a section of highly valuable land in District 1 known as the "golden triangle".

The 13,000sqm land is surrounded by Pham Ngy Lao - Nguyen Thai Hoc - Tran Hung Dao streets.
On December 17m 2007, the Thai Son joint venture won the right to put the land into use after bids were received.
However, in May this year the Bnak of Investment and Development of Vietnam (BIDV), a key member of the joint venture, told the People's Committee it wanted to withdraw from the project.
The bank cited improper bidding that had impaired the project's effectiveness as one of the reasons for the withdrawal.
After receiving the notification from BIDV via letter, the city bidding council agreed to ask permission from the Prime Minister to launch bids for the projects on the land.

Rol.vn - Source