On the afternoon of January 25, Phat Dat Real Estate Development Corporation officially handed over the landscaped grounds at 8 Vo Van Tan Street, Xuan Hoa Ward, to the local authorities for public use.

The project is one of nine centrally located vacant plots the Ho Chi Minh City People's Committee has instructed to be temporarily transformed into parks or gardens until new development plans are finalized.

Following approval on January 8, Phat Dat mobilized round-the-clock construction, completing the park two weeks ahead of schedule.

A public green space reclaims the abandoned site

Speaking at the ceremony, Bui Quang Anh Vu, CEO of Phat Dat, emphasized the symbolic value of the site. “This is not only valuable land economically but also a place of deep cultural and historical meaning for city residents,” he said.

Vu added that although the work finished earlier than planned, quality was strictly controlled throughout. He hopes the new park will serve as a vital community space for those living in the heart of the city.

At the handover ceremony, Nguyen Van Duoc, Chairman of the Ho Chi Minh City People's Committee, described the transformation as a reflection of both "the Party’s vision and the people's will." He noted the timing - just ahead of the Lunar New Year - adds further importance.

"I urge Xuan Hoa Ward authorities to treat this project like the city’s spiritual child,” he said. “Take care of the greenery and ensure the space remains clean and beautiful for the community.”

A long-stalled project on premium land

The old Phan Dinh Phung Sports Arena occupied a rare four-sided plot at the intersection of Vo Van Tan, Pasteur, Nguyen Dinh Chieu, and Nam Ky Khoi Nghia streets in District 3. It was built in 1985 but later fell into disrepair, prompting a redevelopment plan.

In 2010, the Prime Minister approved a proposal to rebuild the arena as a public-private partnership under a build-transfer (BT) contract, led by Phat Dat and the Compensation and Clearance Corporation.

According to a 2016 pre-feasibility study, the project was expected to cost approximately USD 78 million. In return, the city intended to compensate investors with four land parcels. In 2019, a preliminary investment agreement and draft BT contract were signed between the developers and city officials.

However, from 2019 to 2023, the project saw no legal progress. The arena had already been demolished in 2017, leaving the land vacant and unused.

In April 2024, the city formally terminated the BT model, opting instead to fund the project publicly. The Department of Culture and Sports was tasked with preparing a new pre-feasibility report, aiming for construction to begin in 2027.

By September 2025, the project still had not been approved due to zoning issues related to building density and height limits, which required amendments to align with urban planning regulations.

In the meantime, city authorities directed the site be repurposed as a temporary park and flower garden for public benefit.

Anh Phuong