HCM City eyes revival of many stalled urban area projects
HCM City authorities have approved several major housing and urban projects spread over hundreds of hectares in both inner and suburban districts.
|A proposed new urban residential area in Thu Thiem in HCM City’s District 2. VNS File Photo/Ngoc Hiep|
The People’s Committee has ratified a number of changes to the existing 930ha central area of the city comprising Districts 1 and 3. They include changing the designation of a plot of land on 43, 45 Tu Xuong Street from building land to healthcare facilities.
It approved the 1/2,000 design for a residential area in the northwestern section of the National Highway No 1A. The new residential area in Binh Hung Hoa Ward, Binh Tan District, includes an existing residential area and areas for public services and greenery and parks.
It has also ratified the 1/500 design for the Sai Gon Sport City in District 2 comprising a sports training centre and a high-rise building to be used for accommodation and public services.
The committee has ordered the Department of Planning and Architecture and the Northwestern Urban Area to make changes to the planning for the international university urban area.
It said the adjustments to be made to the plans for the Northwestern Urban Area to be developed by the Berjaya Vietnam International University Township would have a major impact on the project’s land use.
Major urban areas …on paper
Of the major urban area developments announced by the committee recently, construction of the Saigon Sports City by Singapore’s Keppel Land is scheduled to start in early November.
The other projects are still in the process of acquiring and clearing lands.
Former deputy director of the Department of Construction, Nguyen Van Hiep, said over a decade ago the city had planned large urban areas in satellite cities, but only Phu My Hung was successfully developed.
Challenges related to land compensation and acquisition, licensing and planning had affected them, developers of the proposed urban projects said.
Construction of the VND1.94 trillion (nearly US$ 84 million), 331ha Sing – Viet City project in Binh Chanh District, which began over two decades ago, has stalled.
So have the new residential areas of Binh Quoi – Thanh Da in Binh Thanh District and Thu Thiem in District 2.
Nguyen Huong, CEO of Dai Phuc Land real estate company, said to promote the urban residential projects, the city should set up a special mechanism for site clearance and licensing.
This would enable the revival of projects which remain on paper, he added. VNS
Special policy needed for new urban areas, residential complexes
Property experts have urged HCM City to issue a special policy on new urban residential complexes to prevent the rampant and unsustainable development of residential projects.
HCM City will make fair compensation for Thu Thiem residents: official
Residents who had their land illegally taken by the local authorities have been told they will finally be compensated – at current market value.
Thu Thiem auction lures international developers
The announcement of an auction for 55 land plots in Thu Thiem New Urban Area in District 2 of HCM City is expected to encourage foreign developers through the wide land area offered, the transparent conditions, and the low risks.