HCMC seeks investors for US$12 billion worth of property projects
Authorities hope these investments will stimulate growth in the northeast, ease overcrowding in the city center, attract long-term capital, and support the city's plans for satellite towns.
THE HANOI TIMES — Ho Chi Minh City is inviting investments in eight major real estate projects with a total value of about VND283.5 trillion (US$10.1 billion) and covering over 1,200 hectares.
These projects are located in areas that were recently incorporated from Binh Duong Province. These projects will offer the market new urban areas, mixed-use developments, and large-scale resorts.
The administrative quarter of the former Binh Duong Province. Photo: Binh Duong Newspaper
The largest project is Tan An 1B covering 274.7 hectares in Phu An Ward, valued at over VND75.6 trillion ($2.9 billion).
The smallest project, Urban Area No. 4 in Di An Ward, covers 12.5 hectares and is planned as a multifunctional complex with an investment of over VND25.4 billion ($971.6 million).
The Tha La Ecotourism, Resort, and Entertainment Complex in Dau Tieng Commune will feature resorts, high-rise hotels, a theme park, and recreational areas with a daily visitor capacity of 30,000.
This project requires an investment of VND18.2 trillion ($696 million) and spans 297 hectares.
Other projects will combine residential, commercial, and service spaces with public amenities, such as schools and offices.
All eight projects are expected to be completed within 8-12 years.
These projects are located in wards and communes that used to belong to the former Binh Duong Province.
On July 1, Binh Duong and Ba Ria-Vung Tau provinces merged with Ho Chi Minh City to form a megacity of 14 million people.
