VietNamNet
Real estate developer wants 5% of HCM City land in exchange for boulevard

Last update: 16:00 | 10/11/2017

VietNamNet Bridge - The avenue along a Sai Gon River project is expected to be implemented by Tuan Chau Group with total investment capital of VND63.5 trillion. 


{keywords}




HCMC authorities will give Tuan Chau 12,400 hectares of land, or 5 percent of the total land area of the city. 

Tuan Chau president Dao Hong Tuyen said before raising the idea to HCMC authorities, he invited foreign transport and urban development programming experts to do the fieldwork. 

After two years of collecting materials and discussing different plans, Tuan Chau chose a plan that will link traffic from the central area of the city to the suburban district of Cu Chi and neighboring areas. 

The great advantage of the plan is that houses and buildings in the project area will not need to be removed.

The land plots the city plans to give to the investor are located in riverside areas in the districts of Binh Thanh, 12, Hoc Mon, Can Gio and Cu Chi. 

He said the plan would be an effective solution to help develop the economy in the suburban district of Cu Chi and make full use of the large area of fallow flooded land in the riverside and the district.

The Ministry of Planning and Investment (MPI), in a dispatch to the HCMC Planning & Investment Department, pointed out  problems of the project initiated by Tuan Chau.

The ministry expressed concern about the arrangement of the land fund of 12,938 hectares to pay to Tuan Chau in exchange for the avenue. 

The land plots the city plans to give to the investor are located in riverside areas in the districts of Binh Thanh, 12, Hoc Mon, Can Gio and Cu Chi. 

The city authorities have been asked to consider the feasibility of the arrangement of such a big land area in the context of the city’s limited land fund.

Since this is a huge project, MPI has requested research on the impact on the city’s socio-economic development, national defence and environmental impact. 

The project has caught special attention from the public not only because it is a mammoth project with huge investment capital, but also because it is implemented under the BT mode.

Many wrongdoings have been found in BT (build, transfer) projects. Analysts commented that the BT mode creates conditions for corruption to thrive since there are too many loopholes in the legal framework.


Nguyen Van Duc, deputy director of Dat Lanh Real Estate, said that BT is a tumor that must be eliminated. 

“It is necessary to stop BT projects, including BT for one sluice, bridge or road section,” he said.


RELATED NEWS

The power of super projects: Tuan Chau's proposals

Dao Hong Tuyen and his crazy, successful super-projects


Mai Chi

vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news, HoREA, Tuan Chau, Dao Hong Tuyen