Five local and foreign investors have registered to participate in a public tender for developing the long-stalled Binh Quoi-Thanh Da ecological urban area project, said Vo Van Hoan, head of the city government’s office.

An aerial view of Thanh Da Peninsula

At a press conference held today, March 5, on the city’s socioeconomic performance last month and plans for this month, Hoan said these investors had agreed to make deposits or assist the city with site clearance work but had also asked for multiple incentives to execute the project.

In preparing the tender, the HCMC government has reviewed the master plan for the project and will revise it to match the current situation, making conditions favorable for residents outside the approved boundaries of the project.

The municipal Department of Planning and Investment has submitted the city government standards required of the project investor.

The Binh Quoi-Thanh Da project won the HCMC government's approval in 1992. It was assigned to Saigon Construction Corporation in 2004, but the firm failed to execute it. The city government then decided on a project recall in 2010.

Following this, another domestic firm was tasked with adjusting the scale 1:2000 plan of the project, which covers some 427 hectares of land, or almost the entire area of Ward 28 in Binh Thanh District.

A joint venture comprising Bitexco and Emaar Properties PJSC, a property developer from Dubai, was chosen in late 2015 to develop the project, with a total investment of over VND30 trillion.

However, the foreign partner withdrew in June 2017 after a long wait for the land site to be transferred.

As planned, the 426-hectare Binh Quoi-Thanh Da ecological urban area, when in place, would have a population of 41,000-50,000 people. Several bridges have been planned to connect Thanh Da Peninsula with the districts nearby.

HCM City strives to handle land dispute issues this year

At the meeting, Hoan also answered questions on the progress of resolving land dispute issues related to the Thu Thiem New Urban Area project in District 2, saying that the city will work harder to address the issues this year, Thanh Nien Online newspaper reported.

He added that the city is mapping out solutions to handle the complaints lodged by Thu Thiem residents, and these solutions will be put on the table for discussion with local residents to ensure their rights and interests. 

However, it is hard to reach a consensus with all the residents, so patience is needed in working with the protesters, Hoan noted.

He expected local residents to support the city so that the best solutions to land disputes could be worked out.

SGT