HCMC – Up to 710 out of 720 hectares of land in Thu Thiem new urban area has been cleared and Investment and Construction Authority for Thu Thiem Urban Area is calling for investment into the peninsula.

There have been 10 investors registering to develop their projects in Thu Thiem. For instance, BIDV will develop its project on a 25-hectare site in the urban area while other investors such as Tien Phuoc- Keppel Land, Dai Quang Minh and Saigon have their projects get underway.

Recently, a South Korean investor is seeking approval to develop a project along the East-West Highway.

Nam Rach Chiec Co., Ltd. has constructed 1,100 resettlement condo units on 17.3 hectares. Under the format of ‘land in exchange for infrastructure’, the firm would build 1,844 apartment units and it expects to hand over the remaining 712 units in the coming time.

This is part of the project to develop 12,500 condo units for households that have been relocated to make room for the development of the Thu Thiem New Urban Area.

Source: The Saigon Times

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