Binh Quoi-Thanh Da urban area project attracts 10 potential investors
Ten entities have so far put their names down to join a public tender for developing the Binh Quoi-Thanh Da ecological urban area, according to the HCMC Department of Planning and Investment.
The municipal Department of Planning and Investment is in the process of preparing draft regulations for the tender and will then submit them to the city’s government for approval.
To select financially capable participants, the city will issue some requirements, including placing deposits or pledging a certain amount of money to ensure the project will be executed as planned.
The roster of these firms includes Roytrade Company; FED Vietnam; Petro Dong Nam A Trading Co., Ltd.; an alliance between Golden Star and another firm; an alliance of Thuan Tuan Service and Trading Investment JSC and Golden Wealth Global Pty Company; Environment and Traffic Congestion Handling JSC; Gia Bao Architecture Planning JSC; an alliance of Vietnam AGR.3000, Thailand'd Gaudha Putih and Thai Thanh Van Investment and Development Company; Sunshine Group; and Tan Hoang Minh Company.
Some firms have committed to building several bridges connecting the city to Thanh Da Peninsula if they win the tender.
The HCMC government is reviewing the master plan for the project and will revise it to match the current situation, creating favorable conditions for residents outside the approved boundaries of the project.
The Binh Quoi-Thanh Da project was approved by the HCMC government in 1992. The 426-hectare project, once in place, will accommodate 41,000-50,000 people.
It was assigned to Saigon Construction Corporation in 2004, but the firm failed to deploy it as scheduled, prompting the municipal government to decide on a project recall in 2010. Another domestic firm was tasked with adjusting the scale 1:2000 plan of the project.
A joint venture between Bitexco and Emaar Properties PJSC, a property developer from Dubai, was awarded the project. But Emaar Properties PJSC pulled out of the project in October 2016.