Proposed starting price for renting an island in Xuan Huong Lake is over 36 billion VND

In a report sent to the Lam Dong Department of Finance on February 29, the Da Lat City People's Committee determined the starting price for the right to lease land and assets on the land to be 3.6 billion VND per year (36.4 billion VND for a 10-year lease) for restaurant and catering business. The auction winner must maintain the current status quo and not add any additional structures.

The auction of Thuy Ta restaurant will be held this year.

In July 2023, Lam Dong Provincial People's Committee approved the land rental price for this island at 2.66 billion VND per year. In the auction in October 2023, Mr. Doan Hai Ha, from Hanoi, rented this golden land for 15.15 billion VND per year.

After Lam Dong Provincial People's Committee approved the auction results, Mr. Ha asked not to invest because he could not exchange the money for Thuy Ta restaurant. He agreed to forfeit the deposit of more than 600 million VND that he paid when participating in the auction.

Thuy Ta Restaurant is located on one of two islands attached to the national scenic spot Xuan Huong Lake. This is one of the most prime locations in Da Lat. The total area of ​​this land is over 3,800 m2, on the land there is a two-storey house with a floor area of ​​over 260 m2, the remaining land is flower beds, courtyards, and yards.

In the early decades of the 20th century, Thuy Ta restaurant, which functioned as a water sports club (swimming, rowing boats, etc.), was built with a unique architecture. In 1997, the Lam Dong Provincial People's Committee leased this land to Lam Dong Tourism Joint Stock Company for food and beverage services. Last year, the government decided to reclaim it due to the expiration of the lease and planned to hold an auction.